Financial Data and Key Metrics Changes - In Q4 2025, Roku achieved platform revenue growth of 18%, surpassing $1.2 billion, with Adjusted EBITDA of $169 million and net income of $80 million, all records for the company [11][12] - For the full year, platform revenue also grew 18%, with Adjusted EBITDA of $421 million, representing a margin expansion of 255 basis points, and free cash flow of $484 million, over 100% year-over-year growth [12][13] - The outlook for Q1 2026 indicates platform revenue growth of over 21% and 18% for the full year, with full-year adjusted EBITDA guidance of $635 million, representing over 50% year-over-year growth [12][13] Business Line Data and Key Metrics Changes - The advertising segment saw deepened integration with leading demand-side platforms, enhancing measurement and performance capabilities, contributing to the overall revenue growth [9][10] - Q4 2025 was the biggest quarter ever for premium subscription net adds, with plans to add more tier one partners and roll out bundles [9][10] Market Data and Key Metrics Changes - Roku is positioned in over half of U.S. broadband households, with nearly half of all TV streaming occurring on its platform, indicating strong market penetration [18][92] - Internationally, Roku is focusing on monetization in Canada and Mexico, where it has significant scale, while still building scale in Brazil and other Latin American countries [42][44] Company Strategy and Development Direction - Roku's strategy includes broadening and diversifying retail distribution, optimizing investments across retail and OEM partners, and expanding its licensing agreements with major TV manufacturers [15][17] - The company is leveraging AI to enhance content discovery, engagement, and monetization opportunities, viewing it as a significant opportunity rather than a disruptor [24][26][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining double-digit platform revenue growth while continuing to grow profitability, with a strong focus on operational efficiency and maintaining low cash taxes due to a deferred tax asset [13][19] - The company anticipates that international markets will become a larger percentage of overall platform revenue over time, with ongoing efforts to monetize subscriptions and advertising [44][46] Other Important Information - Roku has a strong free cash flow position, with plans to achieve over $1 billion in free cash flow by the end of 2028 [13][19] - The company is actively investing in its advertising platform, including the launch of Ads Manager, which targets small and medium-sized businesses [66][70] Q&A Session Summary Question: Can you help bridge the Q1 revenue outlook of over 21% growth to the full year outlook of about 18% growth? - Management explained that Q1 has an easier comp from the previous year and includes the full benefit of the Frndly acquisition, with stronger visibility into Q1 compared to the second half of the year [14][15] Question: Can you comment on your retail distribution strategy for 2026? - Management stated that they are focused on broadening retail distribution and optimizing investments, with expansions at Best Buy and Target, and plans to increase sales of first-party TVs after shifting production to Mexico [15][17] Question: How do you think AI could impact the streaming landscape? - Management expressed excitement about AI reducing content costs, which would increase engagement on the platform, and highlighted its integration across the technology stack to improve discovery and monetization [24][26][28] Question: How is the third-party ad demand partnership with Amazon impacting the business? - Management indicated that it is early days for the Amazon partnership, but they are optimistic about its potential as it ramps up, and they are integrating with multiple DSPs to enhance performance [33][35] Question: Can you discuss the international viewership and monetization opportunities? - Management noted that they are seeing scale in Canada and Mexico, with a focus on monetization strategies, while Brazil is still in the scale-building phase [42][44] Question: How do you think about the balance between performance-oriented advertising and maintaining high-quality advertisers? - Management emphasized their ability to serve both high-end clients and performance-oriented advertisers, leveraging their unique position in the CTV landscape [62][66]

Financial Data and Key Metrics Changes - Total revenue for Q2 fiscal 2026 was $11.8 million, a slight decrease from $11.9 million in Q2 fiscal 2025 [7] - Platform subscription revenue increased by approximately 14% to $5.2 million, driven by a net increase of 47 platform deployments [7] - Annual recurring revenue (ARR) reached $21.8 million, up 14% year-over-year, with B2B ARR at approximately $15.3 million and B2C ARR at about $6.4 million [7][8] - Gross profit for the quarter was $6.2 million, a 6% increase from the prior year, with a gross margin of 52.4%, reflecting a 350 basis point improvement [9] - Net income for the quarter was $547,000, or $0.02 per diluted share, compared to a net loss of $2 million in the prior year [11] Business Line Data and Key Metrics Changes - The B2B segment saw strong results in ARR bookings and net ARR bookings, with 47 net new deployments [5] - Transaction revenue for Q2 was $6.6 million, down from $7.3 million in the prior year, primarily due to churned accounts and volume reductions from larger customers [8] - The platform business recorded a gross margin of 88.1%, a 160 basis point increase compared to the prior year [10] Market Data and Key Metrics Changes - The total active customer count decreased to 1,321 from 1,384 year-over-year [8] - The company experienced increased competition in the B2C segment, impacting growth and conversion rates [4][8] Company Strategy and Development Direction - The company is focusing on B2B annual and multiyear agreements as the primary growth driver, while also making product and sales process improvements [5] - There is a strategic shift towards API and AI integration, evolving from a document delivery company to an answers and access platform [20][25] - The company aims to leverage its unique capabilities in data and rights management to support AI tools and enhance research efficiency [17][30] Management's Comments on Operating Environment and Future Outlook - Management expects continued pressure in B2C and transaction segments but anticipates stronger performance in B2B and overall profitability in the second half of the fiscal year [14][16] - The company is optimistic about its ability to grow cash balances while funding obligations from operating cash flow [12][14] - Management acknowledges the potential disruption from AI but believes their unique data capabilities will provide a competitive advantage [16][30] Other Important Information - The company has no outstanding borrowings on its revolving line of credit, providing additional balance sheet flexibility [13] - Cash flow from operations was $1.4 million, a 35% increase from the previous year, reflecting higher profitability and disciplined working capital management [12] Q&A Session Summary Question: Can you discuss the pipeline for B2B deals? - The pipeline has grown consistently, with many deals now being API integrations with larger customers, resulting in larger contracts [32] Question: What are the trends in B2C business? - There is increased competition in digital marketing, leading to lower conversion rates from trials to subscribers [33][34] Question: What are the top priorities for improvement? - Focus areas include operating expense management, understanding churn causes, and working capital management [38] Question: How is AI being utilized internally? - AI is being leveraged for software development and productivity improvements, enhancing efficiency across teams [44][50] Question: What is the market opportunity for infrastructure sales? - The ASP for infrastructure sales could be 20%-30% higher, with new pricing models being explored [53] Question: How is the relationship with smaller publishers developing? - There is a growing interest from smaller publishers in rights deals, with ongoing discussions to enhance collaboration [76][78]

Rivian Automotive (NasdaqGS:RIVN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Percoco - Executive Director of Equity ResearchClaire McDonough - CFOJavier Varela - COOJoseph Spak - Managing DirectorRJ Scaringe - CEOConference Call ParticipantsBen Kallo - Senior Research AnalystChris Pierce - Senior AnalystDan Levy - Senior Equity Research AnalystEmmanuel Rosner - Managing Director and Senior Autos and Auto Tech AnalystGeorge Gianarikas - Managing Director and Senior Analyst ...

JFrog (NasdaqGS:FROG) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Sherman - DirectorBrian Essex - Executive DirectorEamon Coughlin - VP in Software Equity ResearchEd Grabscheid - CFOJason Ader - Partner and Co-Group Head of Technology, Media, and CommunicationsJeffrey Schreiner - Head of Investor RelationsJonathan Ruykhaver - Managing DirectorMiller Jump - Equity Research AssociateOscar Saavedra - Equity Research Associate in SoftwareRadi Sultan - Director in Software Equi ...

Airbnb (NasdaqGS:ABNB) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Slabin - VP of Investor RelationsBrian Chesky - Co-founder and CEOBrian Nowak - Managing DirectorDoug Anmuth - Managing DirectorEllie Mertz - CFOKen Gawrelski - Managing DirectorLee Horowitz - Co-Head of Internet Equity ResearchMark Mahaney - Senior Managing Director and Head of Internet ResearchRichard Clarke - Managing DirectorConference Call ParticipantsJed Kelly - Managing Director and Senior AnalystJoh ...

Rivian Automotive (NasdaqGS:RIVN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Percoco - Executive Director of Equity ResearchClaire McDonough - CFOJames Picariello - Director and Head of US Autos ResearchJavier Varela - COOJoseph Spak - Managing DirectorRJ Scaringe - CEO and FounderConference Call ParticipantsBen Kallo - Senior Research AnalystChris Pierce - Senior AnalystDan Levy - Senior Equity Research AnalystEmmanuel Rosner - Managing Director and Senior Autos and Auto ...

PDF Solutions (NasdaqGS:PDFS) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAdnan Raza - CFOJohn Kibarian - President and CEOConference Call ParticipantsBlair Abernethy - Senior Research AnalystClark Wright - VP and Research AnalystOperatorAt this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you will need to press star one one on your telephone. As a reminder, this ...

Financial Data and Key Metrics Changes - Total revenue for 2025 was $249.3 million, with subscription revenue representing 53% of total revenue, up from 45% in 2024 [12][13] - In Q4 2025, total revenue was $55.3 million, a 22.1% year-over-year decline, with subscription revenue at $28.8 million, down 22% year-over-year [13][14] - Adjusted EBITDA for Q4 was a loss of $10.3 million, an improvement from a loss of $12.7 million in Q3 2025 and a 55% improvement from $22.8 million in Q4 2024 [16] - Net loss for Q4 was $25.2 million, compared to $30.7 million in Q3, representing a 43.5% improvement year-over-year [16] Business Line Data and Key Metrics Changes - Amwell Medical Group (AMG) visit revenue was $23.7 million in Q4, down 18.7% year-over-year, with paid AMG visits flat at approximately 340,000 [14] - Total platform visits were 1 million in Q4, down 28.4% year-over-year from 1.4 million visits in Q4 2024 [14] Market Data and Key Metrics Changes - The healthcare landscape is shifting towards operational efficiency, with payers and health systems pursuing platform consolidation and automation [3][4] - The Medicare population is aging, pharmacy costs are surging, and clinician shortages are worsening, creating a demand for technology-enabled care [4][5] Company Strategy and Development Direction - The company has focused exclusively on offering a tech platform, transitioning from a telehealth provider to a trusted enterprise infrastructure [9][10] - Amwell aims to achieve cash flow breakeven from operations in Q4 2026, with a focus on high-quality, sticky revenue [11][19] - The strategy includes leveraging AI to enhance patient experience and improve operational efficiencies [11][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the impact of AI on healthcare and the company's ability to integrate AI programs into a regulated infrastructure [26][28] - The company anticipates a strong secular trend towards technology-enabled care, with clients expected to invest in using the platform more frequently [42][43] Other Important Information - The company ended 2025 with approximately $182 million in cash and marketable securities, and no debt [17] - For 2026, revenue guidance is projected between $195 million and $205 million, with expected AMG visits between 1.32 million and 1.37 million [17][18] Q&A Session Summary Question: Client contract renewals and government opportunities - Management indicated that most contracts signed in 2025 were renewals, with fewer open renewals in 2026, except for the DHA renewal expected in summer 2026 [22] Question: AI impact and competitive landscape - Management is optimistic about AI's impact on healthcare, emphasizing the need for a consistent infrastructure to integrate multiple AI programs [26][28] Question: Headwinds and tailwinds for 2026 guidance - Tailwinds include earlier adoption of the technology-enabled platform, while headwinds involve the upcoming DHA renewal [32][33] Question: Revenue quality and de-emphasis of certain areas - The company has centralized its offering around the Amwell platform, divesting non-core activities to focus on high-quality revenue [48][49] Question: Go-to-market strategy for new opportunities - Renewals are seen as new sales due to the platform's evolution, with a focus on commercial payers and government sectors for growth [56][58]

Federal Realty Investment Trust (NYSE:FRT) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsDaniel Guglielmone - CFODonald Wood - CEOGreg McGinniss - DirectorJeff Kreshek - President, West CoastJill Sawyer - Senior VP of Investor RelationsWendy Seher - President and COO, Eastern RegionNone - Company RepresentativeConference Call ParticipantsAlexander Goldfarb - AnalystAndrew Reilly - AnalystCooper Clark - AnalystCraig Mailman - Director and Equity Research AnalystFloris van Dijkum - A ...

Fortune Brands Innovations (NYSE:FBIN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsCurt Worthington - VP of Finance and Investor RelationsJon Baksht - CFONick Fink - CEOPhil Ng - Managing DirectorStephen Kim - Senior Managing Director and Head of the Housing Research TeamSusan Kilsby - Non-Executive Chair of the BoardConference Call ParticipantsJohn Lovallo - Managing Director and Senior Equity AnalystMatthew Bouley - Director and Senior Equity Research AnalystMichael Rehaut - Ma ...