Perion Network (NasdaqGS:PERI) FY Conference January 14, 2026 09:30 AM ET Company ParticipantsTal Jacobson - CEOConference Call ParticipantsLaura Martin - Senior Entertainment and Internet AnalystNone - Analyst 2None - Analyst 1Laura MartinGood morning. I'm Laura Martin. I'm the Senior Media and Internet Analyst at Needham & Company. I'd like to welcome to my stage Tal.Tal JacobsonThank you.Laura MartinJacobson. Okay, so he is the Chief Executive Officer of Perion Network, the global Ad Tech company that de ...

Summary of Credo Technology Group FY Conference Call Company Overview - **Company**: Credo Technology Group (NasdaqGS:CRDO) - **Founded**: 2008 - **Headquarters**: San Jose, California - **Mission**: Redefine high-speed connectivity for AI, cloud, computing, and hyperscale networks by addressing bandwidth bottlenecks while improving power, security, and reliability [1][2] Industry Insights - **Market Focus**: Data center interconnect market, particularly in the context of AI clusters and high-performance computing [3][4] - **Reliability Importance**: Emphasis on network reliability to prevent link flaps in interconnected systems, which can disrupt operations [3][4][5] - **Customer Conversations**: Engaged with major players like xAI and Oracle to develop solutions that enhance reliability and performance [4][5] Product Development and Innovations - **Core Competencies**: - Strong focus on SerDes technology as a foundational element for product development - Integration of chip design and system-level engineering to enhance product reliability [7][8] - **New Products**: - **Active Electrical Cables (AECs)**: Expected to reach lengths of 5 meters, with a significant market opportunity [10] - **Active Micro-LED Cables (ALCs)**: Will extend reach from 5 meters to 30 meters, providing a thinner and more efficient alternative [10][46] - **Zero-Flap Optical Transceivers**: Designed to enhance reliability in laser-based optical connections, with expected gross margins of 63%-65% [40][41] Market Opportunities - **Customer Base Expansion**: While existing customers include hyperscalers, there is potential to attract smaller companies that require off-the-shelf solutions for rapid deployment [12] - **Data Center AI Spending Outlook**: Anticipated strengthening in demand despite concerns about circular investments in the AI ecosystem [13][15] - **Adoption of AECs**: Currently in early stages, with significant growth potential as more customers begin to deploy these solutions [16][18] Competitive Landscape - **Transition to 800 Gig**: Credo is well-positioned with over half of its AEC connections at the 800 gig level, indicating readiness for market demands [28][29] - **Comparison with Competitors**: Credo emphasizes its system-level ownership and ability to deliver comprehensive solutions as a competitive advantage [29][30] Future Projections - **Market Growth**: Expectation of a multi-billion-dollar market for new products, particularly in the optical module sector [42][48] - **TAM Expansion**: ALCs are projected to double the total addressable market compared to AECs, with potential cannibalization of AECs depending on customer preferences [48][49] - **Long-term Forecasts**: Standard practice of receiving 12-month forecasts from major customers, with some extending to 24 months, providing visibility into future demand [36][38] Financial Strategy - **Recent Financing**: Successfully raised $750 million, enhancing strategic flexibility for potential acquisitions and investments [68][69] - **Capital Allocation**: Focus on tuck-in acquisitions that align with current business operations, maintaining a strong cash flow and profitability [68][69] Conclusion Credo Technology Group is positioned for significant growth in the data center interconnect market, driven by innovations in high-speed connectivity solutions. The company is focused on reliability, expanding its product offerings, and capitalizing on emerging market opportunities while maintaining a strong financial position.

Definitive Healthcare (NasdaqGS:DH) FY Conference January 14, 2026 09:30 AM ET Company ParticipantsCasey Heller - CFORyan MacDonald - Head of Healthcare ITConference Call ParticipantsNone - AnalystRyan MacDonaldAwesome. Welcome, everyone, to this next session at the 28th Annual Needham & Company Growth Conference. I'm Ryan MacDonald, and I lead Needham & Company's healthcare IT efforts. With me in this session is Definitive Healthcare's CFO, Casey Heller. Casey, thanks for joining me today.Casey HellerThank ...

Lattice Semiconductor FY Conference Summary Company Overview - **Company**: Lattice Semiconductor (NasdaqGS:LSCC) - **Industry**: Semiconductor, specifically low-power programmable devices - **Market Position**: Leading provider with over 40 years of innovation in the programmable market - **Key Markets**: Communications, computing, industrial, automotive, and consumer markets [1][2] Core Business Insights - **Revenue Breakdown**: - Communications and computing account for over 50% of revenue - Server business grew 80% year-on-year - Communication segment grew 63% year-on-year - Industrial automotive segment is expected to return to growth in 2026 [3][22] - **Production Volume**: Shipped over 150 million units last year, expected to increase to 180 million this year [3] Strategic Pillars 1. **Companion Role**: Lattice provides support functions for powerful ASICs, enhancing their performance and functionality [4][5] 2. **Small and Mid-Range FPGA Roadmap**: Focused on developing the best roadmap for small and mid-range FPGAs, emphasizing low latency, high precision, and parallel processing capabilities [15][18] 3. **Sustainable Growth**: The company aims for sustainable growth through innovation and expanding its product portfolio [18][19] Market Trends and Growth Drivers - **Disaggregation in AI Servers**: Transition from single board to multiple specialized boards (processor, networking, storage, etc.) is increasing FPGA usage per rack [25][26] - **CapEx Growth**: Anticipated 50% growth in capital expenditures for cloud service providers, contributing to demand for FPGAs [26] - **AI Server Growth**: AI servers currently represent 12% of total servers, with higher FPGA content compared to traditional servers [27][28] Financial Performance and Projections - **Gross Margin**: Currently at 69%-70%, with strong EBITDA and free cash flow [21] - **Long-Term Growth Rate**: Expected to be between 15%-20%, with a consensus growth rate of 21% for the current year [21][23] - **2026 Outlook**: Anticipated to be a strong year for data centers and small FPGAs, with growth in industrial automotive expected to ramp up in 2027 [22][23] Competitive Landscape - **Main Competitors**: Xilinx is the primary competitor, with Altera being monitored for potential aggressive moves in the market [39][40] - **Market Differentiation**: Lattice emphasizes its unique low-power, small FPGA architecture as a sustainable competitive advantage [39] Capital Allocation and M&A Strategy - **Focus on Organic Growth**: Prioritizing organic investments in product expansion and innovation [41] - **Potential for Inorganic Growth**: Open to strategic acquisitions to enhance customer offerings and capabilities [42][43] Conclusion - Lattice Semiconductor is well-positioned for growth in the semiconductor industry, particularly in low-power programmable devices, with a strong focus on innovation, market expansion, and strategic partnerships. The company is set to capitalize on emerging trends in AI and data centers while maintaining a competitive edge through its unique product offerings and robust financial health [20][44]

Summary of Advanced Energy Industries FY Conference Call Company Overview - **Company**: Advanced Energy Industries (NasdaqGS: AEIS) - **Date of Conference**: January 14, 2026 - **Key Speakers**: Steve Kelley (President and CEO), Paul Oldham (Executive Vice President and CFO) Revenue Breakdown - **Q3 Revenue Composition**: - Semiconductor Equipment: 42% - AI Data Center: 37% - Remaining: Industrial, Medical, Telecom, Networking [6] Growth Expectations - **2026 Growth Forecast**: Anticipated growth of 25%-30% in the data center segment, following a projected doubling of the business in 2025 [7] - **Design Wins**: Revenue forecast for 2026 is based on designs secured in 2025 and ongoing business [8] Market Dynamics - **AI Data Center vs. Conventional Data Center**: The AI data center market is characterized by rapid changes and increasing power requirements due to new GPUs and silicon [8] - **Customer Engagement**: The company maintains a high win rate (close to 100%) with a targeted customer base in the data center sector [18] Capacity and Production - **Production Sites**: Key production facilities are located in the Philippines, Mexicali (Mexico), and a new factory in Thailand, which is expected to start operations in the second half of 2026 [10][42] - **Inventory Management**: Strategic inventory levels have been established to mitigate component shortages experienced during COVID [19] Margin Insights - **Margin Improvement**: Data center margins have improved significantly, approaching corporate averages, with a goal to maintain or slightly improve these margins [20][22] - **Impact of Tariffs**: Current tariff impacts gross margins by approximately 100 basis points, but the company is actively working to mitigate these costs [46][47] Semiconductor Market Outlook - **Optimism in Semiconductor Market**: Growth is expected in leading-edge logic and memory sectors, driven by major players like TSMC, SK Hynix, and Samsung [24] - **New Product Contributions**: Technologies like eVoS and Everest are expected to contribute $10-$20 million in revenue in 2025, with significant growth anticipated in 2027 and 2028 [30] Industrial and Medical Market - **Market Recovery**: The industrial and medical segment is recovering from previous inventory corrections, with increasing order rates and revenues expected in 2026 [35] - **Aerospace and Defense Exposure**: Currently low but anticipated to grow significantly in 2026 due to increased demand in the defense sector [37] Strategic Goals - **Sole Source Products**: The company aims to increase the percentage of revenue from sole source products from 70% to 80%, with significant progress already made in semiconductor and industrial medical sectors [40][41] - **M&A Strategy**: The company is actively seeking acquisitions to strengthen its position in the industrial medical market and to fill technology gaps [55] Financial Health - **Balance Sheet**: Strong financial position with $750 million in cash and $565 million in debt as of September [54] Conclusion - Advanced Energy Industries is positioned for growth in the data center and semiconductor markets, with strategic investments in capacity and technology. The company is focused on maintaining healthy margins while navigating challenges such as tariffs and component shortages. The outlook for 2026 and beyond appears optimistic, supported by new product introductions and a recovering industrial medical market.

Worthington Enterprises (NYSE:WOR) FY Conference January 14, 2026 08:45 AM ET Speaker1Good morning. Thank you all for coming to the 26th Annual CJS Winter New Ideas for the New Year Conference. I'm Will Gilday, a research analyst at CJS. Our next presentation is from Worthington Enterprises. We're very happy to have with us today Joe Hayek, CEO, Colin Souza, CFO, and Marcus Rogier, Treasurer and Investor Relations. Worthington Enterprises is a consumer and building products company with a portfolio of leadi ...

Clean Harbors (NYSE:CLH) FY Conference January 14, 2026 08:45 AM ET Company ParticipantsEric Dugas - EVP and CFOJim Buckley - SVP of Investor RelationsConference Call ParticipantsLarry Solow - Research AnalystLarry SolowGood morning and welcome to the CJS 26th Annual "New Ideas for the New Year" Conference. I'm Larry Solow, a research analyst and partner here at CJS, and I'm joined by the management of Clean Harbors. To briefly remind everyone of the format for our conference fireside presentations until ea ...

PagerDuty FY Conference Summary Company Overview - **Company**: PagerDuty (NYSE: PD) - **Industry**: Digital Operations Management - **Focus**: AI-enabled enterprise solutions for managing digital operations and infrastructure [1][2] Core Points and Arguments - **Digital Operations Management**: PagerDuty helps companies manage complex digital infrastructures to ensure optimal customer experiences [2][3] - **Incident Management**: The company emphasizes the importance of rapid response to incidents and proactive issue management [3][4] - **Product Offerings**: PagerDuty's platform includes incident management, automation, AI Ops, and customer service operations, with a focus on integrating AI and automation [6][9] - **Operations Cloud**: The platform is built on four pillars: incident management, AI Ops, automation, and customer service operations, allowing for a comprehensive management of operations [6][10] - **Integration Capabilities**: PagerDuty integrates with over 700 different systems, including monitoring, observability, security, and communication tools [5][12] Financial Performance - **Q3 Results**: Revenue was $125 million, representing a 5% year-over-year growth, with a non-GAAP operating margin of 29% [18] - **Long-term Financial Goals**: Targeting gross margins of 84%-86% and aiming for GAAP profitability in the upcoming year [19][58] Market Opportunity - **Total Addressable Market**: There are 87 million potential users for PagerDuty, with over 1 million currently using the platform [13] - **Cost of Incidents**: Customer-facing incidents can cost companies up to $800,000 per minute, highlighting the value of PagerDuty's services in protecting revenue and reputation [14] Customer Engagement and Adoption - **Customer Base**: Over 34,000 companies use PagerDuty, including more than half of the Fortune 500 [16][21] - **Flex Pricing Model**: Introduced to provide customers with access to the full Operations Cloud, enhancing product discovery and flexibility [41][42] Product Innovation - **AI Agents**: Recent offerings include generative AI agents that assist in incident management and operational tasks, with positive initial feedback from customers [25][27] - **Adoption Curve**: The adoption of AI agents has been gradual, with a focus on building trust and transparency with customers [31][32] Strategic Outlook - **M&A Considerations**: PagerDuty is open to acquisitions that enhance its product offerings and expand its technology footprint [60] - **Balancing Growth and Profitability**: The company aims to drive top-line growth while maintaining a focus on profitability and operational efficiency [58] Additional Insights - **Customer-Centric Approach**: The company emphasizes collaboration with customers to ensure the reliability and effectiveness of its AI solutions [31] - **Continuous Improvement**: PagerDuty is committed to ongoing innovation, having delivered over 150 new capabilities in the past year [21]

Crane NXT Conference Call Summary Company Overview - **Company**: Crane NXT - **Industry**: Industrial Technology focused on securing, detecting, and authenticating critical items - **Sales Projection for 2025**: Approximately $1.6 billion with about 50% recurring revenue [3][4] - **Operating Margins**: Adjusted segment operating margins in the mid-20% range [3] Financial Performance - **Sales Composition**: Two segments - Security and Authentication Technologies (~$800 million) and Crane Payment Innovations (CPI) (~$850 million) [6] - **Geographic Distribution**: 60% of sales in the Americas, with growing presence in emerging markets (Middle East, Africa, APAC) [5] - **Recurring Revenue**: Strong recurring revenue model contributing to financial stability [3] Growth Strategy - **M&A Activity**: Focus on disciplined capital allocation and programmatic M&A to expand into adjacent markets [4][10] - **Recent Acquisition**: Antares Vision, expected to add approximately EUR 200 million in revenue with a 15% EBITDA margin [9] - **Future M&A Plans**: Healthy M&A funnel with a target of one to two acquisitions per year, maintaining leverage below three [43][44] Market Dynamics - **International Currency Segment**: Strong performance driven by high demand and a record backlog, with expectations for mid-single-digit growth [28][37] - **U.S. Currency Segment**: Anticipated high single-digit growth due to new currency designs and upgrades [37] - **Competitive Landscape**: Increased adoption of advanced technology in currency security, driven by counterfeiting concerns and regional competition [55][56] Operational Insights - **Capacity Investments**: Investments in capacity expansion at facilities to meet growing demand, particularly in micro-optics and printing [20][21] - **Margin Compression**: Short-term margin compression expected due to outsourcing and capacity expansion efforts [20][29] - **Free Cash Flow**: Expected to remain strong, with a conversion rate of 90%-110% [49] Technology and Innovation - **AI Integration**: Plans to leverage AI for productivity improvements, process reshaping, and product innovation, particularly in track and trace software [51][53] - **Continuous Improvement**: Ongoing application of the Crane Business System (CBS) to enhance operational efficiency and product quality [4][52] Upcoming Events - **Investor Day**: Scheduled for February 25, 2026, to provide further insights into company strategy and performance [59] Conclusion - Crane NXT is positioned for growth through strategic acquisitions, a strong focus on technology, and a commitment to operational excellence. The company anticipates continued success in both its international and U.S. currency segments, supported by a robust backlog and innovative solutions.

Eos Energy Enterprises (NasdaqCM:EOSE) Update / briefing January 14, 2026 08:30 AM ET Company ParticipantsNone - Video NarratorFrancis Richey - CTOJoseph Mastrangelo - CEOJoseph MastrangeloI think about energy pretty simply. Right now, it works really well in some places and not well at all in others. And even where it does work, it's under strain. Demand keeps rising, expectations keep rising. The system wasn't built for today's reality. We built grids around predictability, around the idea that you could ...