Financial Data and Key Metrics Changes - Revenue for Q2 2026 was $14.1 million, an increase from $13.2 million in the prior quarter but a decrease from $16.8 million in the same quarter last year [16] - Gross margin improved to 34.7% from 28.6% in the prior quarter and 32.5% in the prior year, reflecting a 610 basis point sequential increase due to improved product mix and cost-saving initiatives [16] - Operating expenses decreased to $4.1 million from $5.9 million in the prior quarter and $6.9 million in Q2 2025, marking a 31% sequential decrease [17] - Net income for Q2 was $0.6 million, or $0.03 per share, compared to a net loss of $2.6 million in the prior quarter and a net loss of $1.9 million in Q2 2025 [17] - Non-GAAP net income was $1 million, or $0.04 per share, compared to a net loss of $2 million in the prior quarter [18] Business Line Data and Key Metrics Changes - The company achieved net profitability for the first time in its history, attributed to expense optimization and revenue growth [4][5] - The introduction of the SkyLink telematics device is expected to enhance product offerings and customer engagement [9][10] Market Data and Key Metrics Changes - The lithium-ion forklift battery segment is projected to grow at an 8.8% CAGR through 2035, indicating strong long-term market opportunities [15] - The company is experiencing a capital freeze from its most significant customer, which may impact revenue for a significant portion of calendar year 2026 [14] Company Strategy and Development Direction - The company is focused on five strategic initiatives: profitable growth, operational efficiencies, solution selling, building the right products, and integrating value-added software [5] - The company is enhancing its product line and energy system software using AI to improve operational efficiencies [20] - There is a strong emphasis on solution-based selling, moving beyond just battery sales to energy management solutions [7][10] Management's Comments on Operating Environment and Future Outlook - Management noted that while there are challenges due to tariffs and a capital freeze from a key customer, they remain optimistic about the long-term market potential [14][15] - The company is taking proactive measures to reduce expenses and is well-positioned to respond to customer needs despite short-term pressures [15][20] Other Important Information - The company has made significant progress in product development, including the release of the next-generation SkyLink telematics device and the GAT 315 battery [10][11] - The SkyEMS software has been upgraded to include new features that enhance fleet management and productivity [11] Q&A Session Summary Question: Is the capital freeze unique to one customer or widespread in the industry? - Management confirmed that the capital freeze is specific to one customer [23] Question: How is the overall demand environment looking? - Management indicated that demand is stable but affected by lingering tariff effects [24] Question: What is the rollout strategy for the SkyLink product? - The SkyLink telematics will be offered across the product line, with positive initial feedback from beta tests [25][26] Question: Will cost savings and warranty costs remain low? - Management expects continued positive trends in warranty and repair costs, contributing to improved gross margins [30][31] Question: How does the company plan to fill the revenue gap from the capital freeze? - The company is actively hiring new sales personnel and focusing on increasing adoption of lithium batteries [36][37] Question: Will new SkyLink features be sold at a premium? - Management plans to offer a tiered software package, with premium features expected to have significantly higher gross margins [38][39] Question: Can you elaborate on the State of Health patent and its revenue potential? - The patent includes algorithms for battery health insights, which will be part of a premium software package, generating potential revenue [41][42]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $20.1 million, up 16% sequentially and 30% year-over-year, exceeding guidance [20] - Full year 2025 total revenue reached $70.6 million, a 22% increase year-over-year [20] - Annual contract value plus royalties was $83.6 million, a 28% year-over-year increase, marking a new record [21] - Remaining performance obligations (RPO) totaled $117 million, representing a 32% year-over-year increase, another record high [21] - Non-GAAP gross profit for Q4 was $18.5 million, with a gross margin of 92% [22] - GAAP operating loss for Q4 was $8.5 million, compared to a loss of $7.1 million in the prior year [25] Business Line Data and Key Metrics Changes - Variable royalties increased by 50% year-over-year, with Q4 setting a new record [20] - FlexGen, an AI-driven smart NoC IP product, saw strong customer adoption, licensed for over 30 production device deployments [11] - Ncore, a cache coherent interconnect IP product, also experienced strength in licensing across various edge and server applications [12] Market Data and Key Metrics Changes - The largest impacts on revenue were seen in enterprise computing, automotive, and consumer electronics markets [7] - The number of large royalty reporters tripled in the last two years, indicating a diversified customer base [20] Company Strategy and Development Direction - The acquisition of Cycuity enhances Arteris' product portfolio, focusing on semiconductor cybersecurity assurance [8] - The company aims to address the growing need for cybersecurity in semiconductor designs, which is becoming a major issue [10] - Arteris is positioned to support semiconductor applications in the AI era across various sectors, including automotive and aerospace [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, expecting to report a non-GAAP operating profit as early as Q4 2026 [28] - The company anticipates continued strong demand for its products driven by the proliferation of AI-driven semiconductor designs [7] Other Important Information - Free cash flow was positive $3 million for Q4 and positive $5.3 million for the full year [26] - The company ended the year with $59.5 million in cash and no financial debt [26] Q&A Session Summary Question: Cross-sell opportunities and customer segments - Management highlighted that hardware security assurance is a major issue, opening significant cross-sell opportunities across the semiconductor industry [30][31] Question: NXP's increased use of Arteris solutions - Management confirmed that deploying multiple solutions increases average selling prices significantly, especially with the addition of Cycuity [35][36] Question: Strength in royalties and market segments - Management noted that the growth in royalties was due to both customer diversification and strength in various market segments, particularly automotive [37][38] Question: Impact of security acquisition on P&L - Management indicated that approximately $7 million of the projected revenue for 2026 would come from Cycuity, with expectations of breakeven by Q4 2026 [45][46]

Pinterest (NYSE:PINS) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsAndrew Somberg - VP of Investor Relations and TreasurerBill Ready - CEOBrian Nowak - Managing DirectorEric Sheridan - Managing DirectorJulia Donnelly - CFORon Josey - Managing DirectorConference Call ParticipantsColin Sebastian - Baird logo Managing Director and Senior Research Analyst for Internet and Digital MediaDoug Anmuth - Managing Director and Internet AnalystJustin Patterson - Managing Director and Equity R ...

Vertex Pharmaceuticals (NasdaqGS:VRTX) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsBrian Abrahams - Managing Director and Global Sector Head of Healthcare Research Full-timeCharlie Wagner - COO and CFOCory Kasimov - Senior Managing DirectorDuncan McKechnie - Chief Commercial OfficerEvan Seigerman - Managing Director and Head of Healthcare ResearchGeoff Meacham - Managing DirectorMichael Yee - Global Head of Biotechnology Research and Managing DirectorReshma Kewalramani - CEO and ...

Artivion (NYSE:AORT) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsBill Plovanic - Managing Director and Healthcare Equity ResearchDaniel Stoter - VP of Equity ResearchLance Berry - COO and CFOLane Morgan - Associate Vice PresidentPat Mackin - CEOConference Call ParticipantsJohn McCalley - Equity Research AnalystMike Matson - Managing Director and Senior Equity Research AnalystNone - AnalystNone - AnalystOperatorGood afternoon, and welcome to the Artivion fourth quarter and year-en ...

Financial Data and Key Metrics Changes - Net income increased year-over-year to $9.4 million, up from $7.1 million, representing an increase of 32.4% [5][17] - Adjusted EBITDA rose to $18.5 million, an increase of $2.4 million year-over-year [5][17] - Gross margin expanded by 210 basis points to 12.8% [5][16] Business Line Data and Key Metrics Changes - Physical movie revenue increased 33% year-over-year to $114 million, driven by premium formats [9] - Collectibles revenue increased 31% year-over-year, reflecting growth in premium and licensed offerings [11][12] - Gross profit for the six-month period increased to $84.3 million, compared with $67.8 million a year ago [19] Market Data and Key Metrics Changes - Overall net revenue for the quarter was $369 million, down from $394 million in the prior year, reflecting softness in lower margin categories [16] - The collectibles business is expected to grow as the company expands its portfolio and licensing agreements [12][27] Company Strategy and Development Direction - The company is focused on building a business that generates sustainable profitability and positions itself for long-term value creation [8] - The strategy emphasizes higher quality revenue, stronger margins, and disciplined growth, particularly in premium physical media and collectibles [7][8] - The acquisition of Endstate Authentic is aimed at enhancing the collectibles market through technology-enabled trust and authentication [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of the margin profile and the ongoing shift towards higher value products [25] - The company is not providing formal guidance but is optimistic about the pipeline of premium and exclusive content [25][27] - Management highlighted the importance of maintaining operational rigor while investing selectively in growth areas [24][29] Other Important Information - The company ended the quarter with approximately $74 million in working capital, reflecting disciplined management of inventory and payables [22] - A new $120 million senior secured revolving credit facility was established, reducing borrowing costs and extending maturity [22] Q&A Session Summary Question: Can you talk about your ability to sign additional exclusive deals with studios? - Management is in active conversations with various studios and believes that the recent partnerships with Paramount and MGM position the company as a premier solution for licensing physical DVD products [32][33] Question: Can you discuss the gaming hardware revenue performance? - The gaming hardware segment has been affected by supply issues with Microsoft consoles, while Nintendo has performed well [34][35] Question: What are your thoughts on strategic M&A opportunities? - Management is optimistic about ongoing M&A conversations and is focused on finding the right opportunities that are financially accretive [36][37] Question: Can you provide an update on the gaming division's performance? - The gaming hardware and arcade business saw significant declines, but management expects improvements as inventory issues are resolved [44][45] Question: What is the status of the Alliance Authentic initiative? - The company is launching products with NFC digital chips and expects to see traction in sales soon [53][69]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 was $376.9 million, up 12% year-over-year [12] - Subscription revenue was $261.4 million, reflecting a 15% increase year-over-year [12] - Adjusted operating income for Q4 was $45 million, up 26% from the previous year [16] - Free cash flow for the full year 2025 increased to $75.4 million, a 95% year-over-year increase [18] Business Line Data and Key Metrics Changes - Subscription pets increased by 5% year-over-year to over 1,096,000 pets [12] - Adjusted operating income from the subscription business was $43.1 million, a 23% increase from last year [15] - Other business revenue was $115.4 million for the quarter, a 5% year-over-year increase [15] Market Data and Key Metrics Changes - Average monthly retention for the trailing twelve months was 98.34%, up from 98.25% in the previous year [12] - The veterinary channel remains critical for distribution, with nearly 200 territory partners educating pet parents [10] Company Strategy and Development Direction - The company aims to invest aggressively in pet acquisition and retention strategies to strengthen the Trupanion brand [22] - Plans to broaden the existing Trupanion offering and introduce a new lower-priced product in the next 36 months [48] - Focus on enhancing brand awareness and education to reach pet parents earlier in their decision-making journey [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving consistent revenue growth and margin targets for 2026 [19] - The company anticipates total revenue for 2026 to be between $1.55 billion and $1.582 billion, with subscription revenue expected to grow approximately 14% year-over-year [19] - Management noted that veterinary inflation is being monitored closely, with no significant changes expected at this time [58] Other Important Information - The company paid an extraordinary dividend of $15 million to its operating company, following a previous $26 million dividend [18] - Non-cash expenses included $9.4 million in stock-based compensation and a $1.1 million goodwill impairment charge related to European businesses [17] Q&A Session Summary Question: Can you talk about some successes in reaching pet parents and how that will be accelerated going forward? - Management highlighted that brand spend is focused on increasing visibility among pet parents, particularly in the veterinary space, leading to quicker conversions and encouraging results [27][28] Question: Was there any favorable reserve development in the loss ratio reported? - Management noted a slight adverse development of about 30 basis points, but expressed satisfaction with the overall loss ratio improvement [30] Question: Can you provide insights on the 2026 guidance regarding gross adds and commercial strategy? - Management indicated that pricing will continue to be a dominant contributor to revenue growth, with expectations for increased gross adds and improved expense management [33] Question: What is the status of the lower-priced insurance plan? - Management confirmed plans to broaden the existing Trupanion offering and introduce a new lower-priced product as part of their 36-month strategy [48] Question: How is retention improving across different cohorts? - Management reported that retention is improving across all cohorts, with specific improvements noted in those receiving rate increases of under 20% [37][38]

Financial Data and Key Metrics Changes - Wynn Las Vegas reported adjusted property EBITDA of $240.8 million on operating revenue of $688.1 million, resulting in an EBITDA margin of 35% [13] - Boston's Encore generated adjusted property EBITDA of $57 million on revenue of $210.2 million, with an EBITDA margin of 27.1% [14] - Macau operations delivered adjusted property EBITDA of $270.9 million on $967.7 million of operating revenue, resulting in an EBITDA margin of 28% [15] Business Line Data and Key Metrics Changes - Las Vegas saw healthy demand with drop, handle, and ADR all up year-over-year, although RevPAR was slightly below last year [6] - Boston's RevPAR, table drop, and slot handle were all up year-over-year, despite lower-than-normal table hold [8] - Macau experienced significant volume growth with VIP turnover up 48% and mass drop up 18% year-over-year, although low VIP hold negatively impacted EBITDA by over $16 million [9][15] Market Data and Key Metrics Changes - The company expects over 55% of revenues to be generated in non-U.S. dollar-denominated markets, enhancing geographic diversification [5] - The premium segment continues to lead the market, with the expansion of the Chairman's Club at Wynn Palace expected to strengthen demand [10] Company Strategy and Development Direction - The company is focused on geographic diversification and enhancing its portfolio to meet affluent customers globally [5] - The opening of Wynn Al Marjan Island is seen as a significant milestone, with construction progressing rapidly [10] - The company aims to leverage technology and AI to enhance customer experience and operational efficiency [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook for 2026, driven by strong group and convention demand [7] - The company is optimistic about Macau's future following sustained double-digit market-wide GGR growth [9] - Management highlighted the importance of maintaining high rates over occupancy to optimize revenue [54] Other Important Information - The company has a strong liquidity position with global cash and revolver availability of $4.7 billion as of December 31 [17] - A quarterly cash dividend of $0.25 per share has been approved, reflecting the company's commitment to returning capital to shareholders [18] - Julie Cameron-Doe, the CFO, will be retiring before the next earnings call, marking a significant leadership transition [11] Q&A Session Summary Question: Growth in Las Vegas for 2026 - Management remains confident in the high-end customer segment and expects to continue pricing rooms effectively despite some headwinds from room renovations [22][24] Question: OpEx Growth in Vegas and Macau - OpEx in Vegas is expected to remain disciplined, with projections of $4.3 million-$4.5 million per day outside major events, while Macau's OpEx is aligned with previous expectations of $2.7 million-$2.9 million per day [25][26] Question: Margin Expansion in Vegas - Management does not provide specific margin guidance but focuses on maximizing revenue and managing OpEx effectively [31] Question: Impact of World Cup on Business - Management has a targeted strategy to leverage the World Cup's proximity to boost ADR in Boston and expects some marginal impact on 2026 [73] Question: Chairman's Club Expansion - The new Chairman's Club is expected to open by Chinese New Year, significantly expanding the space dedicated to high-value customers [44][46] Question: VIP and Premium Mass Business Mix in Macau - Management noted that margins were affected by low hold in VIP and mass segments, but there was no fundamental shift in business dynamics [41] Question: Future Development in Boston - The company is not developing hotels on its balance sheet but is considering land leases for potential hotel developments near Encore [99][100]

Arista Networks (NYSE:ANET) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsAmit Daryanani - Senior Managing DirectorBen Reitzes - Managing Director, Partner, and Head of Technology ResearchChantelle Breithaupt - CFOJayshree Ullal - Chairperson and CEOKarl Ackerman - Managing Director of Semiconductors and Networking HardwareKenneth Duda - Founder and CTOMeta Marshall - Executive DirectorRudolph Araujo - VP of Investor AdvocacyRyan Koontz - Managing DirectorConference Call Participan ...

Flux Power (NasdaqCM:FLUX) Q2 2026 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsJoel Achramowicz - Managing DirectorKevin Royal - CFOKrishna Vanka - CEOConference Call ParticipantsCraig Irwin - Managing Director and Senior Research AnalystRob Brown - Senior Research Analyst, Founding Partner, and Chief Strategy OfficerSameer Joshi - Senior Equity Research AnalystOperatorGood afternoon, and welcome to Flux Power's Fiscal Second Quarter 2026 Earnings Conference Call. At this time, all parti ...