Financial Data and Key Metrics Changes - For the fiscal first quarter ended December 31, 2025, the company generated $12 million in revenue, down from $15.7 million in the same period last year [34] - Product revenue decreased to $6.7 million from $11 million, primarily due to the absence of one-time transactions totaling approximately $4.5 million from the previous year [34] - Service revenue increased by 14.6% to $5.3 million from $4.7 million year-over-year [34] - Gross profit for the quarter was $4.7 million, slightly up from $4.6 million, with gross profit margins increasing to 39.3% from 29.1% [35] - Net income for the first quarter was $91,000 compared to $42,000 in the prior year, with diluted earnings per share at $0.01, down from $0.05 [36] Business Line Data and Key Metrics Changes - The technology solutions business continues to lead progress, with strong performance in managed cloud and managed service practices [6][28] - The managed service practice signed new customers expected to generate nearly $100,000 in monthly revenue starting this quarter [7][29] - The AZT Protect product suite achieved year-over-year revenue growth, serving 46 unique customers, with potential for multi-site installations [30] Market Data and Key Metrics Changes - The company is benefiting from the trend of organizational migration to the cloud, with increasing demand for operational support services post-migration [7][28] - The market for cybersecurity solutions is expanding, with the company positioned as a resource for enterprises facing operational technology cybersecurity challenges [31] Company Strategy and Development Direction - The strategic focus is on expanding service revenue and growing the monthly recurring revenue (MRR) base [5] - The company aims to leverage partnerships, particularly with Microsoft Azure, to enhance its managed service offerings [7][28] - Investments in the managed service practice are expected to yield returns through new customer acquisitions [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that fiscal 2026 will be a growth year, supported by infrastructure investments and a strong service segment [6][34] - The company anticipates generating substantial operating leverage as revenue grows, with a focus on maintaining high customer retention rates [8][34] Other Important Information - The company plans to pay a dividend of $0.03 per share on March 12, 2026, to shareholders of record as of February 26, 2026 [37] Q&A Session Summary Question: Clarification on service revenue categories - Management confirmed that service revenue includes multiple categories, with managed services being a significant portion [41][46] Question: Revenue predictability from Acronis integration - Management indicated that it is too early to quantify revenue from the integration with Acronis, as the APIs are still being built [67][68] Question: Share repurchase plans - Management confirmed plans to repurchase shares now that the blackout period has ended, indicating confidence in the company's stock [70][71] Question: Financing and customer repayment structure - Management clarified that the company continues to engage in financing roles with customers, which helps maintain strong relationships [87][88] Question: Multi-site customer approvals - Management provided insights into the timing of approvals for multi-site installations, indicating a growing frequency of such occurrences [90][92]

Financial Data and Key Metrics Changes - The company reported consolidated revenue of $20.3 million for Q3 fiscal 2026, with a total of over $58 million in revenue for the nine months ending December 31, 2025 [4][14] - Adjusted EBITDA for Q3 was $2.6 million, contributing to a total of over $3.7 million for the audio division in the nine-month period [5][14] - The company posted a net loss of $4.1 million or 37 cents per diluted share for Q3 fiscal 2026 [14] Business Line Data and Key Metrics Changes - The audio division generated $52.2 million in revenue over nine months, with Q3 revenue of $18.6 million [5][14] - PodcastOne subsidiary achieved record revenue of $15.9 million and adjusted EBITDA of $2.8 million in Q3 [14][15] - Slacker subsidiary reported Q3 revenue of $2.8 million with an adjusted EBITDA of negative $0.1 million [14] Market Data and Key Metrics Changes - The company is trading at 60% of revenues, while the industry is trading over 3x revenues, indicating a significant undervaluation [6] - The B2B pipeline has grown over 30% in the last 120 days, with over 100 active enterprise opportunities [6][7] Company Strategy and Development Direction - The company is focused on expanding partnerships with major players like Amazon, Apple, and Tesla, aiming to launch three significant Fortune 500 partnerships [7][8] - A strategic shift towards owning intellectual properties and original content is underway, with over 15 original projects in the pipeline [8][9] - The company is evolving its leadership structure to enhance focus on B2B partnerships and AI initiatives [11][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for transformational growth, citing a strong B2B pipeline and improving industry dynamics [15][40] - The company anticipates reaching profitability by the end of the fiscal year, leveraging over $125 million in net operating loss carryforwards for tax efficiencies [5][6] - Management highlighted the importance of AI in enhancing personalization and optimizing monetization, driving B2B demand [10][73] Other Important Information - The company has reduced operating expenses by over 52% year-over-year and streamlined its workforce from 350 to 88 employees [4][5] - A share repurchase program is being expanded, reflecting confidence in the company's undervaluation [12] Q&A Session Summary Question: On the B2B business, can you elaborate on customization and options for customers? - Management noted that the company is uniquely positioned in the B2B space, leveraging AI for customization and offering competitive pricing [18][20] Question: What is the competitive landscape for content provision? - Management indicated that while some competition exists, the company's unique service offerings and flexibility provide a significant advantage [31][32] Question: How is the advertising revenue for Slacker's non-subscription customers progressing? - Management highlighted a robust advertising business across audio platforms and noted a partnership with DAX to enhance advertising offerings [25][26] Question: What is the timing for the 30 million subscriber deal? - Management stated that the deal is signed and expected to ramp up in the following year, with some revenue potentially starting this quarter [59][61] Question: What is the expected impact of Tesla user conversions on revenue? - Management confirmed that the conversion from ad-supported to paid subscriptions is expected to contribute significantly to revenue growth [67][68]

Financial Data and Key Metrics Changes - The company reported full-year Adjusted EBITDA of $248 million for 2025, an 8% increase from 2024, exceeding prior guidance [5][6] - Pro forma net income for the year was $89 million, or $0.57 per share, with fourth-quarter Adjusted EBITDA of $62 million and pro forma net income of $32 million, or $0.20 per share [6][9] - Cash available for distribution (CAD) increased to $199 million in 2025 from $141 million in the prior year, driven by higher Adjusted EBITDA and lower cash interest expenses [10][12] Business Line Data and Key Metrics Changes - Southern Timber segment generated fourth-quarter Adjusted EBITDA of $32 million, down 8% year-over-year due to lower stumpage realizations, despite higher harvest volumes [7][13] - Pacific Northwest Timber segment reported fourth-quarter Adjusted EBITDA of $5 million, a 24% decline from the prior year, primarily due to a 26% decrease in harvest volumes [16][17] - Real estate segment achieved Adjusted EBITDA of $127 million for 2025, significantly above guidance, with fourth-quarter revenue of $42 million from approximately 3,800 acres sold [18][19] Market Data and Key Metrics Changes - The Southern Timber segment faced challenges with pulpwood pricing, which was down 27% year-over-year due to weaker demand and recent mill closures [14][15] - In the Pacific Northwest, average delivered domestic sawlog pricing decreased 3% year-over-year, while pulpwood pricing increased 26% due to reduced availability of sawmill residuals [17] - The real estate market showed strong demand for rural and development properties, with significant premiums to timberland value, particularly in Texas and Florida [36][38] Company Strategy and Development Direction - The merger with PotlatchDeltic is expected to create a premier land resources company with a diversified timberland portfolio and enhanced operational efficiencies [3][4] - The company aims to focus on disciplined capital allocation and synergies from the merger, with an estimated $40 million in run-rate synergies by the end of year two [29][30] - The company is optimistic about long-term value creation through land-based solutions, including solar and carbon capture projects [28][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the timber and lumber markets, despite current challenges [27][52] - The company anticipates improved demand and pricing in the Southern Timber segment as supply tightens due to hurricane impacts [15][52] - For 2026, the company expects full-year harvest volumes to increase due to the merger, with a conservative outlook on pricing in the Southern Timber segment [22][23] Other Important Information - The company repurchased approximately 110,000 shares at an average price of $26.31 prior to the merger announcement, with $230 million remaining on the share repurchase authorization [11][12] - A special dividend of $1.40 per share was paid, reflecting taxable gains from the sale of a New Zealand joint venture [11][12] Q&A Session Summary Question: Can you provide insights on the real estate segment's performance and expectations for 2026? - Management noted that real estate sales are lumpy and significantly impacted by larger transactions, with strong premiums to timberland value driving outperformance [34][36] Question: What factors influenced the initial harvest guidance for the combined companies? - The guidance reflects a partial year contribution from PotlatchDeltic and aligns with Rayonier's historical sustainable yield [48][49] Question: Are there signs of stabilization in the pulpwood market? - Management indicated that while recent pressures have been challenging, they expect long-term improvements as supply tightens due to hurricane impacts [51][52] Question: What is the company's stance on M&A opportunities in the current market? - The timberland M&A market remains competitive, but the company sees share repurchases as a more attractive use of capital at this time [60][61] Question: How does the company view the integration of wood products within the timberlands portfolio? - Management believes that the integrated model will benefit shareholders over time, with a focus on maximizing returns on capital allocation [76][77]

Lincoln Electric (NasdaqGS:LECO) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAmanda Butler - VP of Investor Relations and CommunicationsAngel Castillo - Head Executive Director of US Machinery and Construction Equity ResearchGabriel Bruno - CFOSteven Hedlund - Chairman and CEOConference Call ParticipantsChris Dankert - SVP and Senior Equity AnalystMig Dobre - Managing Director, Senior Research Analyst, and Associate Director of ResearchNathan Jones - Managing Director and Senior ...

Sylvamo (NYSE:SLVM) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsDon Devlin - Senior Vice President and CFOHans Bjorkman - Vice President of Investor RelationsJohn Sims - SVP and CFOConference Call ParticipantsDaniel Harriman - Equity Research AnalystGeorge Staphos - Equity Research AnalystMatthew McKellar - Equity Research AnalystOperatorGood morning. Thank you for standing by. Welcome to Sylvamo's fourth quarter 2025 earnings call. All lines have been placed on mute to prevent a ...

Summary of Eledon Pharmaceuticals Conference Call Company Overview - **Company**: Eledon Pharmaceuticals (NasdaqCM:ELDN) - **Focus**: Development of immunosuppressive therapies for organ transplantation, particularly kidney and islet cell transplants Key Points from the Conference Call Phase 2 BESTOW Study Results - The Phase 2 BESTOW study showed promising outcomes, achieving a non-inferiority margin for a composite endpoint, which is crucial for Phase 3 approval [1] - Although the primary endpoint of kidney function was not met, the data indicated that the treatment outperformed standard care in various aspects [1][2] - Safety profile was significantly better, with a ninefold reduction in tremors and a sevenfold reduction in infection rates compared to standard care [3] Market Perception and Data Interpretation - The market may have underestimated the implications of missing the kidney function endpoint, as the approvable endpoint for kidney transplant studies is a composite endpoint unrelated to kidney function [4] - Acute rejection rates were higher in the tegoprubart arm (20%) compared to the tacrolimus arm (14%), but all rejections in the tegoprubart group occurred within the first six months [5] Phase 3 Study Planning - Eledon plans to request an end-of-phase 2 meeting with the FDA in late Q1 or early Q2 2026 to discuss the Phase 3 study design [10] - The primary endpoint for the Phase 3 study will focus on patient and graft survival, with a non-inferiority design [15][17] Long-term Data and Quality of Life Measures - Long-term follow-up data from a Phase 1b study showed no acute rejections and 100% survival, indicating potential for better long-term outcomes compared to standard care [7][8] - The Phase 3 study will include patient-reported outcomes to assess quality of life and toxicities associated with standard care [21] Commercial Opportunity - Eledon believes tegoprubart could become the new standard of care in transplantation, with potential applications in both allotransplant and xenotransplant settings [28] - The company aims to address the limitations of current therapies and believes that the infrastructure for drug administration has improved since previous launches [27] Islet Cell Program - The islet cell transplant program has shown promising results, with several patients achieving independence from insulin [31][32] - Eledon plans to transition this program into a sponsored study, with an IND filing expected by the end of 2026 [33][35] Xenotransplantation Developments - Eledon is collaborating on xenotransplantation studies, showing significant progress with genetically modified pig organs [41][42] - The company plans to supply tegoprubart as part of the immunosuppressive regimen for xenotransplantation, leveraging safety and efficacy data from ongoing studies [43] Financial Position and Future Milestones - Eledon has sufficient cash to fund operations through Q2 2027, with key milestones including the opening of INDs for kidney and islet cell transplant studies [50][51] - The company is committed to supporting ongoing research in xenotransplantation and other transplant-related studies [52] Additional Insights - The discussion highlighted the importance of managing immunosuppression protocols in clinical trials to ensure balanced treatment across study arms [23][24] - The potential for xenotransplantation to alleviate organ shortages presents a significant commercial opportunity, as many patients remain on waiting lists without receiving transplants [44]

Financial Data and Key Metrics Changes - BGC Group reported record-breaking revenues for both the fourth quarter and full year 2025, with increases of 32% and 30% respectively, approaching $3 billion in total revenues [4] - Adjusted EPS grew by 24% under GAAP and 19% for adjusted earnings, with adjusted EPS rising by 71% to $1.18 per share since 2022 [4][7] - Pre-tax adjusted earnings grew by 24.5% to $161.3 million, representing a pre-tax margin of 21.3% [18] - Post-tax adjusted earnings increased by 21.1% to $149.6 million, resulting in a post-tax adjusted earnings per share of $0.31 [18] Business Line Data and Key Metrics Changes - Total brokerage revenues grew by 34.6% to $694.6 million, with ECS revenues increasing by 92% to $257.5 million, driven by the acquisition of OTC and strong organic growth [9] - Rates revenues increased by 16.4% to $197.4 million, while foreign exchange revenues rose by 9.8% to $102.8 million [10] - Fenics revenues increased by 15.4% to a record $163.9 million, driven by higher electronic volumes across rates products [11] - FMX UST generated record fourth quarter average daily volume of $58.7 billion, increasing market share to a record 39% [12] Market Data and Key Metrics Changes - EMEA revenue increased by 39.2%, Americas revenues increased by 25.7%, and Asia Pacific revenues increased by 24.2% [16] - FMX Futures Exchange saw record volumes in open interest, with ADV and open interest increasing 82% and 97% respectively compared to the previous quarter [12] Company Strategy and Development Direction - The company completed the first phase of its cost reduction program, expected to realize $25 million of annualized savings in 2026 [5][17] - BGC aims to focus on higher growth areas within its portfolio, having sold lower growth businesses to enhance shareholder value [28] - The company is positioned for continued success in 2026, with guidance indicating a revenue growth expectation of approximately 34% for the first quarter [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong market share gains and a favorable trading environment [25] - The outlook assumes no material acquisitions or dispositions, with expectations subject to change based on macroeconomic factors [3] - Management highlighted the importance of volatility in driving business growth, particularly in the energy sector [39] Other Important Information - The company anticipates pre-tax adjusted earnings for the first quarter of 2026 to be in the range of $202 million to $222 million, representing over 32% earnings growth [20] - Liquidity as of December 31 was $979.1 million, compared to $897.8 million at year-end 2024 [19] Q&A Session Summary Question: Inquiry about first quarter guidance and organic revenue growth - Management noted that core revenue growth has been consistent, driven by market share gains and a favorable trading environment [25] Question: Discussion on the sale of KACE and future divestitures - Management indicated that the sale was driven by shareholder value considerations and that they remain open to future divestitures if they do not meet growth expectations [28] Question: Inquiry about new client growth in the energy segment - Management confirmed an increase in new players entering the energy market, contributing to growth in the ECS business [34] Question: Question regarding FMX futures revenue recognition and treasury futures - Management stated that changes in fee structures for FMX futures will occur in the summer, and treasury futures will follow the success of SOFR [42][43] Question: Inquiry about additional fixed income products within Lucera - Management indicated that Lucera is expanding into credit markets, which could significantly contribute to future revenue growth [48]

Core Natural Resources (NYSE:CEIX) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsBob Braithwaite - Senior Vice President of Marketing and SalesDeck Slone - Senior Vice President of Strategy and Public PolicyJimmy Brock - Chairman and CEOMitesh Thakkar - President and CFOPaul Lang - Chief Operating OfficerConference Call ParticipantsChris LaFemina - Equity Research AnalystGeorge Eadie - Mining AnalystNathan Martin - Senior Equity Research AnalystNick Giles - Sebior Research AnalystO ...

Crane NXT (NYSE:CXT) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAaron Saak - CEOChristina Cristiano - CFOMatt Roache - VP of Investor RelationsConference Call ParticipantsBobby Brooks - Equity Research AnalystIan Zaffino - Equity Research AnalystMatt Summerville - Equity Research AnalystMichael Halloran - Equity Research AnalystRobert Labick - Equity Research AnalystOperatorGood day, everyone, and welcome to Crane NXT fourth quarter and full year 2025 earnings call. At this time ...

Ameren (NYSE:AEE) Q4 2025 Earnings call February 12, 2026 10:00 AM ET Company ParticipantsAndrew Kirk - Senior Director of Investor Relations and Corporate ModelingLeonard Singh - EVP and CFOMarty Lyons - Chairman, President and CEOMichael Moehn - Group President, Ameren UtilitiesConference Call ParticipantsCarly S. Davenport - Equity Research AnalystDiana Niles - AnalystJulian Dumoulin-Smith - AnalystShahriar Pourreza - AnalystSophie Karp - Equity Research AnalystWilliam Apicelli - AnalystOperatorGood day, ...