Artivion (NYSE:AORT) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Speaker3Good afternoon, and welcome to the Artivion fourth quarter and year-end 2025 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference o ...

Financial Data and Key Metrics Changes - In Q4 2025, total revenue reached $3.2 billion, a 10% increase compared to Q4 2024. For the full year 2025, total revenue was $12 billion, reflecting a 9% increase versus 2024 [33] - Full year 2025 growth in cystic fibrosis (CF) therapies was 7% globally, with U.S. CF revenue growing 11% year-over-year [34] Business Line Data and Key Metrics Changes - CASGEVY generated $54 million in revenue in Q4 and $116 million for the full year 2025, with continued momentum in patient initiations and first cell collections [34] - JOURNAVX delivered $27 million in sales in Q4 and $60 million for the full year, showing substantial growth in quarterly prescriptions since its launch [34] Market Data and Key Metrics Changes - Internationally, CF revenue grew 2% year-over-year, driven by the penetration of KAFTRIO and contributions from ALYFTREK, partially offset by a $200 million decline in Russia sales [34] - The company secured reimbursement for ALYFTREK in key European countries, enhancing access for patients [21] Company Strategy and Development Direction - The company aims to expand leadership in CF, accelerate adoption of CASGEVY, and grow JOURNAVX while advancing its renal franchise, starting with povetacicept in IgAN [5] - The renal pipeline is expected to become a key growth engine, potentially rivaling the scale of the CF business [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver sustained growth through commercial execution and innovation across multiple serious disease areas [5] - The guidance for 2026 anticipates total company revenue in the range of $12.95 billion to $13.1 billion, representing 8%-9% growth versus the prior year [39] Other Important Information - The company ended 2025 with $12.3 billion in cash, cash equivalents, and marketable securities, positioning it well for future investments [38] - The fourth quarter gross margin was 85.7%, reflecting the product mix and investments in manufacturing optimization [35] Q&A Session Summary Question: Concerns about hypogammaglobulinemia adverse events related to povetacicept - Management indicated that while BAFF/APRIL inhibitors may decrease IgG levels, data from the RUBY-3 study showed no serious adverse events or infections associated with low IgG levels, suggesting a favorable benefit-risk profile [44][45] Question: Guidance details for CF component relative to ALYFTREK and TRIKAFTA - Management provided total revenue guidance of $12.95 billion to $13.1 billion, with a non-CF contribution of $500 million or more, but did not break down specifics for ALYFTREK versus other products [52] Question: Payer access and reimbursement for povetacicept - Management reported positive engagement with payers, having conducted 74 engagements covering over 210 million lives, indicating strong interest in the upcoming products [62] Question: Expected results on proteinuria for povetacicept - Management highlighted that a significant reduction in proteinuria, similar to the RUBY-3 study results, would be clinically meaningful and important for long-term outcomes [66] Question: Mix between retail and hospital settings for JOURNAVX - Management noted that the prescription mix concluded at about 50/50 between retail and hospital settings in 2025, with expectations for a shift towards retail in the future [83]

Q4 2025 Investor Presentation Tucows Inc. Q4 2025 Investor Update NASDAQ TCX | TSX TC Safe harbor statement This presentation may contain forward-looking statements, relating to the Company's operations or to the environment in which it operates, which are based on Tucows Inc.'s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and are subject to important risks, uncertainties and assumptions concerning future conditions that may ultimately prove to ...

Financial Data and Key Metrics Changes - Net sales increased by 11% year-over-year, with a price mix contributing 70 basis points to this growth, while volume declined by 2.2% due to pressures in certain product lines [16][17] - Gross margin as a percentage of sales decreased by 30 basis points to 48.5%, influenced by increased outside purchases related to the Simple Mills business model [17] - GAAP diluted EPS for the quarter was a loss of $0.32, a decrease of $0.52 from the prior year, primarily due to a $136 million non-cash impairment of intangible assets [18][19] Business Line Data and Key Metrics Changes - The fresh packaged bread category saw Flowers maintain unit share, with Dave's Killer Bread gaining 20 basis points, while traditional loaf unit sales declined by 4% in Q4 [3][4] - The cake business experienced a 5% growth in unit sales, driven by the strength of the Wonder brand, despite a 3% decline in category unit sales [11] - Specialty premium loaf gained 60 basis points of unit share, largely driven by DKB, which added 50 basis points [10] Market Data and Key Metrics Changes - The overall bread category experienced a 2% decline, while the food category saw a modest increase in unit sales [4] - The competitive environment remained rational but challenging, with the average price per unit in the bread category rising by 1.1% [26] - Consumer behavior is shifting towards value-seeking, with increased sales in club stores and a decline in center store volumes [28][29] Company Strategy and Development Direction - The company is conducting a comprehensive review of operations to reignite top-line growth and expand margins, focusing on optimizing the brand portfolio and enhancing supply chain capabilities [4][5] - Investments in marketing and innovation are expected to create near-term margin pressure but are deemed essential for long-term growth [5][22] - The integration of Simple Mills is progressing well, with expectations for significant growth driven by innovation and expanded distribution [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2026, anticipating continued category headwinds, particularly in traditional loaf, and inflationary pressures on inputs [21][22] - The company plans to balance investments in leading brands with the need to manage costs and maintain profitability [22][30] - Management remains committed to navigating current challenges while positioning for future success through strategic initiatives [30] Other Important Information - The company generated cash flow from operating activities of $446 million in 2025, an increase of $34 million over the prior year [20] - Capital expenditures decreased to $127 million, while dividends paid increased to $209 million [20] - The company is focused on maintaining a strong balance sheet, with net debt to trailing 12-month adjusted EBITDA at approximately 3.3x [20] Q&A Session Summary Question: What are the expectations for 2026? - The company expects total sales to be down 180 basis points to up 20 basis points, with category headwinds anticipated to be around 4% [21] Question: How is the Simple Mills integration progressing? - The integration is progressing well, with expectations for double-digit sales growth driven by innovation and expanded distribution [24]

Financial Data and Key Metrics Changes - The company achieved a net sales increase of 11% year-over-year, with a price mix increase of 70 basis points, while volume declined by 2.2% [16][17] - Gross margin as a percentage of sales decreased by 30 basis points to 48.5%, influenced by increased outside purchases related to the Simple Mills business model [17] - GAAP diluted EPS for the quarter was a loss of $0.32, a decrease of $0.52 from the prior year, primarily due to a $136 million non-cash impairment of intangible assets [18][19] Business Line Data and Key Metrics Changes - The fresh packaged bread category saw Flowers maintain unit share, with Dave's Killer Bread gaining 20 basis points, while traditional loaf unit sales declined by 4% in Q4 [3][4] - The cake business experienced a 5% growth in unit sales, driven by Wonder's brand recognition, despite a 3% decline in category unit sales [11] - Specialty Premium Loaf gained 60 basis points of unit share, largely driven by DKB, which added 50 basis points [10] Market Data and Key Metrics Changes - The overall bread category experienced a 2% decline, while the food category saw a modest increase in unit sales [4] - The competitive environment remained rational but challenging, with a 1.1% increase in average price per unit in the bread category [26] - Consumer behavior is shifting towards value-seeking, with increased sales in club stores and a decline in center store volumes [28][29] Company Strategy and Development Direction - The company is conducting a comprehensive review of operations to reignite top-line growth and expand margins, focusing on brand portfolio optimization and supply chain enhancements [4][5] - Investments in marketing and innovation are expected to create near-term margin pressure but are deemed essential for long-term growth [5][22] - The integration of Simple Mills is progressing well, with expectations for significant growth driven by innovation and expanded distribution [12][24] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for 2026, anticipating continued category headwinds, particularly in traditional loaf, and inflationary pressures [21][22] - The company plans to balance investments in leading brands with the need to manage costs and maintain profitability [22][30] - Management emphasized the importance of adapting to consumer trends by prioritizing better-for-you products and innovative offerings [29][30] Other Important Information - The company generated cash flow from operating activities of $446 million in 2025, an increase of $34 million over the prior year [20] - Capital expenditures decreased to $127 million, while dividends paid increased to $209 million [20] - The company is committed to maintaining a strong balance sheet, with a net debt to trailing twelve-month Adjusted EBITDA ratio of approximately 3.3 times [20] Q&A Session Summary Question: What are the expectations for growth in 2026? - The company expects fiscal 2026 net sales to be between $5.163 billion and $5.267 billion, with adjusted EBITDA of $465 million to $495 million, and adjusted diluted EPS of $0.80 to $0.90 [24][25] Question: How is the integration of Simple Mills progressing? - The integration is progressing well, with expectations for double-digit sales growth driven by expanded distribution and innovation [24]

February 2026 Investor Presentation Introduction Safe Harbor: Forward-Looking Statements These slides and the accompanying oral presentation contain forward-looking statements. All statements other than statements of historical facts contained in these slides and the accompanying oral presentation, including statements regarding Yelp Inc.'s ("Yelp" or the "Company") future operations, future performance, expected financial results and future financial position, future revenue and revenue growth rates, futur ...

This presentation contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations for our business, operations, financial performance or financial condition in addition to statements regarding our expectations for ...

Q4 2025 Financial Overview Important Information Regarding Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that represent the company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not ...

Q4 2025 Earnings Results February 12, 2026 1 Legal Disclaimer This presentation and the accompanying conference call contain forward-looking statements within the meaning of the federal securities laws, including statements about our future performance and goals. These statements involve substantial risks and uncertainties that may cause our actual results, performance or achievement to differ materially, as further described in the Appendix, as well as in our most recent periodic reports filed with the SEC ...

4Q25 EARNINGS PRESENTATION IMPORTANT DISCLOSURE IN REVIEWING THE INFORMATION CONTAINED IN THIS PRESENTATION, YOU ARE AGREEING TO ABIDE BY THE TERMS OF THIS DISCLAIMER. THIS INFORMATION IS BEING MADE AVAILABLE TO EACH RECIPIENT SOLELY FOR ITS INFORMATION AND IS SUBJECT TO AMENDMENT. This presentation is prepared by XP Inc. (the "Company," "we" or "our"), is solely for informational purposes. This presentation does not constitute a prospectus and does not constitute an offer to sell or the solicitation of an ...