Fourth Quarter Fiscal 2025 Earnings Call March 2, 2026 1 FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act"). Forward-looking statements may include words such as "aim," "estimate," "plan," "project," "forecast," "goal," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or ...

Q4 2025 Supplemental Information March 2, 2026 ameresco.com © 2025 Ameresco, Inc. All rights reserved. Safe Harbor Forward Looking Statements Any statements in this presentation about future expectations, plans and prospects for Ameresco, Inc., including statements about market conditions, pipeline, visibility, backlog, pending agreements, new and expanding market opportunities, financial guidance including estimated future revenues, net income, adjusted EBITDA, Non-GAAP EPS, gross margin, effective tax rat ...

Fourth Quarter 2025 Investor Presentation March 2, 2026 NASDAQ: IHRT Safe Harbor Statement Forward Looking Language Certain statements in this presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of iHeartMedia, Inc. and its subsidiaries (the "Company"), to be materially dif ...

La-Z-Boy FY Conference Summary Company Overview - La-Z-Boy Incorporated is a 99-year-old company based in Monroe, Michigan, primarily focused on manufacturing and retailing residential furniture [2][4] - The company is undergoing a strategic pivot towards a direct-to-consumer model, with approximately 50% of over $2 billion in sales now coming from direct channels [4][11] Strategic Initiatives - The company aims to expand its retail footprint, with a target of increasing the number of La-Z-Boy stores from 375 to potentially 450 [5][12] - La-Z-Boy has over $300 million in cash and no external debt, providing a strong financial position for growth [5][31] - The "Century Vision" roadmap focuses on leveraging the La-Z-Boy brand, enhancing consumer experience, and expanding retail presence [6][16] Retail and Sales Strategy - The company has significantly increased its company-owned stores, now owning over 60% of its retail locations, which enhances control over the consumer experience [8][14] - La-Z-Boy is focusing on three growth strategies: increasing same-store sales, expanding new store openings, and acquiring independent dealers [11][12] - The company recently completed a 15-store acquisition in the Southeast, marking the largest acquisition in its history [13] Financial Goals - La-Z-Boy aims to grow sales at twice the market rate and achieve double-digit operating margins over the long term [16][19] - The company is restructuring its supply chain and exiting non-core businesses to enhance margins, with a goal of consolidating 15 distribution centers into 3 [17][18] Industry Context - The residential furniture industry has historically grown at 3% to 4% but has faced challenges due to housing market fluctuations [25][26] - La-Z-Boy anticipates a rebound in the housing market, driven by a shortage of 4 million to 7 million housing units, which will benefit the company [26][27] Consumer Insights and Brand Positioning - La-Z-Boy is investing in brand revitalization and consumer messaging, recently recognized as one of the top five rebrands of the year by Ad Age [10][32] - The company emphasizes the importance of in-home design services, which can significantly increase average ticket sizes [42][46] Operational Efficiency - New store openings require a capital investment of $1 million to $1.5 million, with a typical ramp-up period of three years to reach maturity [36] - The company has improved its store execution, achieving double-digit margins in retail, compared to single-digit margins in the past [39][40] Leadership and Team - La-Z-Boy's leadership team combines industry experience with innovative thinking from other sectors, which is crucial for the company's strategic initiatives [28][29] Conclusion - La-Z-Boy is well-positioned for future growth with a strong financial foundation, a clear strategic vision, and a focus on enhancing consumer experience through direct engagement and expanded retail presence [5][31][32]

Lumexa Imaging FY Conference Summary Company Overview - **Company**: Lumexa Imaging (NasdaqGS:LMRI) - **IPO Date**: December 2025 - **Industry**: Radiology - **Position**: Second-largest outpatient imaging platform in the U.S. with 189 centers located in high-growth metropolitan statistical areas (MSAs) [10][12] Key Highlights - **Market Dynamics**: The radiology sector is experiencing growth, with a total addressable market (TAM) of $140 billion, growing at a 4% CAGR. Outpatient imaging specifically has a TAM of $33 billion, growing at a 7% CAGR [17] - **Revenue Mix**: 63% of revenue comes from commercial payers, with advanced imaging accounting for 63% of revenue and 35% of volume [15][18] - **Patient Satisfaction**: Achieved a Net Promoter Score (NPS) of 91, indicating high patient satisfaction [14] Growth Strategy - **Expansion**: Completed 9 de novo openings in 2025, with plans to open 8-10 new centers annually [13][32] - **Joint Ventures (JVs)**: Engages in partnerships with health systems to diversify outpatient ancillary revenue, typically sharing capital and operational responsibilities [21][22] - **Cost Efficiency**: Operates at 60% lower costs compared to hospital outpatient departments, enhancing value for payers and patients [17] Financial Performance - **Revenue per Scan**: Revenue per scan in JVs is approximately $370, compared to $225 consolidated and $165 for competitors like RadNet, attributed to a higher acuity mix in JVs [54][58] - **Operating Metrics**: The outpatient imaging segment is growing at 7%-9%, while the inpatient pro fee segment is growing at 5% [33][42] - **Margin Expansion**: Expected pro forma margin growth of 7.2% in 2026, with a historical CAGR of 7%-8% [43][45] Risks and Considerations - **Routine Imaging Volumes**: There is expected softness in routine imaging volumes, particularly X-ray, which may not significantly impact overall financials [52][53] - **Capital Expenditure**: Anticipated increase in capital spending from approximately $30 million to $80 million annually, primarily for de novo openings and technology upgrades [59][60] Additional Insights - **Fragmentation in Industry**: The imaging industry is highly fragmented, with significant opportunities for growth through acquisitions, especially among smaller sites [19][36] - **Technological Advancements**: Focus on improving efficiency through innovations like fast scan technology and virtual MRI, which are not included in current growth forecasts [33][34] Conclusion Lumexa Imaging is positioned for significant growth in the radiology sector, leveraging its strong market position, strategic partnerships, and focus on advanced imaging. The company is actively pursuing expansion through new center openings and joint ventures while maintaining a commitment to cost efficiency and patient satisfaction.

Avnet FY Conference Summary Company Overview - **Company**: Avnet (NasdaqGS:AVT) - **Industry**: Global value-added distribution of electronic components, primarily semiconductors and interconnected passive and electromechanical components [3][4] Key Business Segments - **Electronic Components Business**: - Broad line distributor focusing on high-volume customers in production - Geographic distribution: Asia (50%), Europe (30%), Americas (20%) [6][10] - Gross margin: 10%-12% [7] - **Farnell Business**: - High service business catering to design engineers and R&D activities - Gross margin: approximately 30% [7][52] Market Trends and Performance - **Geographic Recovery**: - Asia has shown six consecutive quarters of growth, now representing 50% of total business, up from 40% five quarters ago [11][12] - Europe has recently returned to growth with a 1% year-over-year increase, although still 35% off peak revenue levels [12][13] - The Americas are experiencing moderate growth, positioned between Europe and Asia [13] - **Demand Dynamics**: - Customers are ordering within lead times, indicating a depletion of excess inventories and a shift towards real consumption [14][22] - Backlog is replenishing, and book-to-bill ratios are robust, suggesting a positive outlook for future demand [13][14] Pricing and Margins - **Pricing Strategy**: - During peak shortages, price increases contributed approximately 25% to revenue growth [26] - Current pricing environment is not broadly increasing, but specific input costs are rising, particularly in memory and storage [35][36] - **Margin Targets**: - Operating margins for the electronic components business are expected to stabilize around 3%, with potential for growth as the market recovers [51][105] - Farnell's higher margins provide a significant advantage, with ongoing efforts to cross-sell and integrate services [52][63] Operational Efficiency and Technology - **Automation and AI**: - Investment in digital tools and automation is aimed at improving operational efficiency and reducing costs [41][44] - The company is focused on leveraging technology to enhance customer service and design capabilities [43][44] Supply Chain and Inventory Management - **Supply Chain Services**: - Avnet is positioned to provide supply chain services to large OEMs lacking warehousing capabilities, which is a growing market opportunity [67] - **Inventory Levels**: - Current inventory levels are being optimized, with a focus on reducing aged inventory and investing in faster-turning products [95][96] - The electronic components business aims for under 70 days of inventory, while Farnell targets around 200 days [99][101] Capital Allocation and Financial Health - **Balance Sheet**: - The company is focused on maintaining a healthy balance sheet with a target leverage ratio around three [105] - Plans to return excess cash to shareholders through dividends and buybacks once leverage is improved [105] Future Outlook - **Growth Opportunities**: - Avnet is optimistic about growth in sectors such as robotics and drones, with expectations of increasing content in electronics [108] - **Market Position**: - The company believes it is well-positioned to capitalize on growth and return margins to historical levels [108]

SEI Investments FY Conference Summary Company Overview - **Company**: SEI Investments (NasdaqGS:SEIC) - **CEO**: Ryan Hicke - **Focus Areas**: Wealth management, asset management, administration, and advice services following the acquisition of Stratos [2][3] Core Business Segments - **Investment Managers Services**: Provides fund administration to alternative and traditional investment managers [3] - **Banking Business**: Offers technology capabilities combined with back-office services to large global banks and regional/community banks in the U.S. and U.K. [3] - **Asset Management**: Targets institutional clients, including defined benefit schemes and foundations, and leverages expertise for intermediary advisors [4] Strategic Growth Areas 1. **Reimagining Asset Management**: Transitioning from turnkey asset management to a more open architecture for larger advisors, with 8,000 advisors as clients [6][7] 2. **Wealth Management Capability**: Expansion into the advice space through the acquisition of Stratos, aiming to capture fee-based advisory revenue [9][10] 3. **International Market Growth**: Focus on improving international margins, with 85% of revenue from the U.S. and 15% from non-U.S. markets [11] 4. **Data-Driven Decision Making**: Shift towards strategic investments in specific segments based on market opportunities and competitive landscape [12] 5. **Professional Services Expansion**: Introduction of SEI Data Cloud to enhance client offerings and operational capabilities [13][14] Financial Performance and Capital Allocation - **Strong Balance Sheet**: SEI maintains a robust financial position with significant cash flow, prioritizing reinvestment in business growth [21][22] - **Investment in Technology**: Recent investments include AI-native platforms like Avantos to enhance operational efficiency and client service [24][25] - **Venture Opportunities**: Exploring M&A and partnerships to integrate world-class capabilities, as demonstrated by the acquisition of Stratos [23][24] Market Position and Competitive Advantage - **Private Credit Administration**: SEI is a leading private credit administrator, focusing on committed capital rather than mark-to-market revenue [41][42] - **Client Referenceability**: Strong relationships with existing clients enhance SEI's reputation and attract new business through positive referrals [50][51] - **Complexity Handling**: SEI's ability to manage complex operational needs positions it favorably against competitors in the investment management space [48][49] AI and Technology Integration - **Proactive AI Strategy**: SEI has been integrating AI capabilities for over two years, focusing on automation and enhancing service delivery [25][26] - **Client Demand for AI Solutions**: Clients are increasingly seeking SEI's expertise in leveraging AI for operational improvements [34] Conclusion - SEI Investments is strategically positioned for continued growth through its diversified service offerings, strong financial health, and proactive approach to technology integration. The company is focused on expanding its market presence, particularly in wealth management and international markets, while maintaining a commitment to client satisfaction and operational excellence.

Summary of Zoom's 2026 Conference Call Company Overview - **Company**: Zoom Video Communications, Inc. (NasdaqGS: ZM) - **Event**: 2026 Conference Call - **Date**: March 02, 2026 Key Points Industry and Company Performance - Zoom closed the year with a **7% growth in enterprise revenue** in Q4, which now represents over **60% of the business** [3][5] - Overall growth improved from **3% to 4.4%**, marking a **130 basis points inflection** [5] Core Growth Drivers 1. **Product Diversification**: Transitioning from a meeting-focused company to a broader portfolio [5] 2. **AI Monetization**: AI is significantly impacting growth rates [5] 3. **Investment in Channel**: Heavy investments in channel development to enhance product reach [5] 4. **Execution in Direct Sales**: Improved execution in the enterprise direct sales organization [5] Operating Priorities for FY27 - **Infusing AI** into core business areas, including workplace and phone services [9] - Establishing **new routes to AI monetization**, both horizontally and vertically [9] - Scaling the **Contact Center business**, which is experiencing significant market transformation [10] Demand Environment - Shift in demand from **best of breed** to **pragmatic AI solutions** [13][14] - Customers are increasingly focused on **practical AI value** rather than flashy features [14] AI Strategy - Zoom is positioning itself as a **"system of action"** that integrates human and system interactions [21] - The company aims to leverage **unstructured data** from meetings to create actionable business value [24] - AI initiatives are designed to maintain **80% gross margins** despite increasing usage [29] AI Monetization Framework - AI is integrated into paid SKUs without extra charges, enhancing customer retention and platform stickiness [35] - Monetization strategies include **horizontal** (general usage) and **vertical** (specific applications like Contact Center) approaches [36][38] Financial Performance and Guidance - Current operating margins are trending at **40.5%**, significantly above the previous long-term guidance of **33%-36%** [80] - Net Dollar Retention rate remains stable at **98%**, with efforts to drive it above **100%** through product diversification and enterprise growth [84][85] - Free cash flow guidance for FY27 is projected between **$1.7 billion to $1.74 billion**, down from **$1.9 billion** in the previous year due to various factors [90][92] Capital Allocation and M&A Strategy - Zoom has a strong balance sheet with **$8 billion in cash**, focusing on disciplined capital allocation [100][102] - The company plans to engage in **small to medium-sized acquisitions** that align with growth priorities [108] - Buybacks are being utilized to offset dilution, with **$3.7 billion** announced for buybacks [107] Online Business Dynamics - The online business now constitutes just under **40% of Zoom's revenue**, with a focus on adding value and product offerings to retain and grow the customer base [127][128] - Recent acquisitions, such as **Bonsai**, aim to enhance product value for small businesses and solopreneurs [130] Conclusion - Zoom is strategically positioned to leverage AI and product diversification to drive growth while maintaining strong financial health and operational efficiency. The focus on customer-centric solutions and innovative monetization strategies is expected to sustain momentum in the competitive landscape.

Summary of Verizon's Conference Call Company Overview - **Company**: Verizon Communications Inc. - **CEO**: Dan Schulman, who transitioned from board member to CEO in October 2022 after a period of declining market share and stock performance [3][4] Key Industry Insights - **Telecom Industry Trends**: - Connectivity is increasingly essential in the economy, with 5 to 6 million new users entering the market annually [8] - Convergence of broadband and wireless services presents significant growth opportunities [8] - The industry is characterized by inefficiencies, with potential for operational improvements through AI and better customer service [11][12] Company Performance and Strategy - **Market Challenges**: - Verizon has lost market share for five consecutive years, with stock down over 30% in that timeframe [4] - High churn rates attributed to ineffective customer retention strategies [4][20] - **Operational Changes**: - Focus on transparency and addressing internal issues, including bureaucracy and risk aversion [15][16] - Aggressive cost-cutting measures have removed $9 billion in costs, including $5 billion in operational expenses and $4 billion in capital expenditures [17][18] - Plans to reduce churn, with every basis point reduction equating to approximately 90,000 net postpaid adds [20] - **Growth Initiatives**: - Expansion of fiber services, targeting 40-50 million homes passed in the medium term [20][48] - Emphasis on bundling services to reduce churn by 40% compared to standalone offerings [20][53] - Commitment to return $25 billion to shareholders over three years, including a $3 billion stock buyback this year [23][78] Financial Outlook - **Cash Flow and Dividends**: - Projected cash flow growth of at least 7% for the year, with a commitment to increasing dividends for the 20th consecutive year [21][23] - Focus on maintaining a strong balance sheet and reducing leverage to a ratio of 2.0-2.25 within 12-18 months [23] Competitive Landscape - **Market Positioning**: - Verizon aims to grow responsibly in a competitive environment, focusing on sustainable growth rather than aggressive price increases [39][79] - The company is committed to improving customer experience and reducing friction in service delivery to enhance retention [33][34] Future Opportunities - **AI and Connectivity**: - Plans to leverage dark fiber and enhance connectivity for commercial clients, particularly in the AI sector [70] - Collaboration with satellite companies to offer direct-to-device connectivity as a value-added service [44] Conclusion - Verizon is undergoing significant transformation under new leadership, focusing on operational efficiency, customer-centric strategies, and sustainable growth in a competitive telecom landscape. The company is committed to improving its market position through strategic investments and cost management while enhancing shareholder value through dividends and buybacks.

Grindr (NYSE:GRND) 2026 Conference Summary Company Overview - Grindr is the largest social network for gay individuals globally, with 98% of users being gay and bi men. The platform has been operational for nearly 17 years and went public in 2022. [3][4] Core Business Focus 1. **Preserving Free Product**: Grindr aims to maintain and enhance its robust free product to attract and retain users. [4] 2. **Monetization Strategies**: The company is shifting focus from user conversion to maximizing revenue from existing paying users by enhancing the value of paid services. [4][9] 3. **New Initiatives**: Grindr is exploring new business lines to diversify revenue streams beyond the core app, although significant impacts from these initiatives are expected in the long term. [5] Financial Performance and Projections - For 2026, Grindr is tracking towards revenue of approximately $528 million and EBITDA of around $217 million, with a target of $600 million in revenue and $245 million in adjusted EBIT by 2027. [6][7] - The company anticipates at least 20% year-over-year revenue growth for fiscal 2026, driven by pricing adjustments and new product features. [16][19] Pricing Strategy - Grindr has tested new pricing models for its premium services, finding that users are willing to pay more than previously expected. This includes a successful trial of a $99 Boost feature. [8][9][18] User Growth and Engagement - Grindr's user base has grown from 12 million to 15 million, with a paid penetration rate increasing from 6% to 8.5%. The company focuses on retaining a vibrant user base, particularly among younger users who may convert to paying customers over time. [26][28] Corporate Governance - Following governance issues, Grindr has made significant changes, including the appointment of a majority independent board and the addition of new independent directors. [10][12][15] Competitive Landscape - Grindr operates in a highly competitive environment but aims to be the primary choice for users by enhancing user experience and engagement. The company acknowledges competition but focuses on maintaining user satisfaction and app usage. [38][39] AI Integration - Grindr is leveraging AI to enhance user experience and improve matching algorithms, aiming to address challenges faced by users in finding partners. The company has transitioned to a more AI-driven coding approach, with 70% of its code now generated by AI. [40][42][50] Advertising and Monetization - Grindr's advertising revenue exceeded $70 million last year, with plans to improve ad quality and relevance. The company is exploring new ad formats to enhance monetization from free users. [31][32] Key Takeaways for Investors - Grindr should be viewed as a social network rather than a dating app, with a focus on a wealthy and trendsetting user base. The potential exists for Grindr to evolve into a super app for the gay community, offering tailored products and services. [53][55]