AMERISAFE, Inc. (NASDAQ:AMSF) Q4 2024 Earnings Conference Call February 27, 2025 10:30 AM ET Company Participants Kathryn Shirley - Chief Administrative Officer Janelle Frost - President & Chief Executive Officer Andy Omiridis - Executive Vice President & Chief Financial Officer Conference Call Participants Mark Hughes - Truist Matt Carletti - Citizens JMP Bob Farnam - Janney Operator Good day, and welcome to the AMERISAFE fourth quarter 2024 earnings call. Today's conference is being recorded. At this time ...

Financial Data and Key Metrics Changes - Docebo reported an increase in average annual contract value (ACV) from $70,000 to $83,000 per new customer, reflecting a 17% year-over-year growth [48] - The company achieved a net retention rate (NDRR) of 100%, down from 104%, primarily due to a large customer downgrade and a 40% increase in contracts up for renewal in 2024 compared to 2023 [104][105] Business Line Data and Key Metrics Changes - The launch of three new product modules, including community and analytics components, has positively impacted customer adoption and revenue [11][12] - The attachment rates for new products launched late last year exceeded expectations, contributing to the overall growth in new logo ACV [75] Market Data and Key Metrics Changes - Docebo serves over 40 million users globally, with expectations to reach approximately 100 million users in the next five years [13] - The company is experiencing strong demand in the mid-enterprise and enterprise markets, particularly for deals above $500,000 in ARR or ACV [98] Company Strategy and Development Direction - The strategic vision is to transform Docebo from an enterprise LMS to an AI-first learning platform that addresses a broader set of learning needs [15][17] - The company plans to leverage generative AI to enhance user engagement and automate various tasks within the platform [31][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the competitive position and the impact of new product releases on customer engagement and market share [10][11] - The company anticipates achieving authority to operate (ATO) status with FedRAMP by the end of Q3, which will enable bidding on government contracts [24][27] Other Important Information - Docebo has a cash reserve of approximately $92 million, with plans for potential stock buybacks and strategic acquisitions to enhance growth [86][88] - The company is focusing on internal upskilling initiatives, including launching an AI academy for employees [84] Q&A Session Summary Question: Update on competitive position and product adoption - Management noted satisfaction with the early impact of new product modules and emphasized the company's strong market position as an enterprise LMS [11][12] Question: FedRAMP activities and impact on customer engagement - The audit process for FedRAMP is progressing well, with expectations to achieve ATO status by the end of Q3, which aligns with government modernization efforts [24][25] Question: Insights on Agentic AI offering - The Agentic AI strategy aims to enhance user engagement and automate tasks, making the platform easier to manage [31][34] Question: Leadership changes and go-to-market strategy - New leadership has been brought on board to equip the company with necessary skills for future success, while internal talent development remains a priority [39][41] Question: Update on larger ACV lands and customer expansion - The focus is on entering organizations with a service-oriented approach, leading to trust and credibility, rather than all-in wins from the start [46][48] Question: Margins and operating leverage - Management indicated that there is room for operating efficiencies across departments, driven by AI implementation [52][53] Question: Contribution to ARR growth from current customers vs. new logos - The company expects to see growth from existing customers as they right-size their contracts, with new logo wins also contributing to future growth [115][118] Question: Capital allocation strategy - Buybacks and strategic acquisitions are being considered as part of the capital allocation strategy to enhance shareholder value [86][88]

Carriage Services, Inc. (NYSE:CSV) Q4 2024 Results Conference Call February 27, 2025 10:30 AM ET Company Participants Steve Metzger - President Carlos Quezada - Chief Executive Officer and Vice Chairman John Enwright - Chief Financial Officer Conference Call Participants Alex Paris - Barrington Research John Franzreb - Sidoti & Company Liam Burke - B. Riley George Kelly - ROTH Capital Partners Operator Good day, and thank you for standing by. Welcome to the Carriage Services Fourth Quarter 2024 Earnings Con ...

Thryv Holdings, Inc. (NASDAQ:THRY) Q4 2024 Earnings Conference Call February 27, 2025 8:30 PM ET Company Participants Cameron Lessard - Assistant VP, IR & Treasury Joe Walsh - Chairman and CEO Paul Rouse - CFO Conference Call Participants Jason Kreyer - Craig-Hallum Scott Berg - Needham & Company Linda Lee - William Blair Daniel Moore - CJS Securities Zach Cummins - B. Riley Securities Operator Thank you for standing by. My name is Jeannie, and I will be your conference operator today. At this time, I would ...

fuboTV Inc. (NYSE:FUBO) Q4 2024 Earnings Conference Call February 28, 2024 8:30 AM ET Company Participants David Gandler - Chief Executive Officer John Janedis - Chief Financial Officer Ameet Padte - Senior Vice President, FP&A, Investor Relations Conference Call Participants David Joyce - Seaport Research Partners Patrick Sholl - Barrington Research Laura Martin - Needham & Co. Clark Lampen - BTIG Nik Aluru - JP Morgan Doug Arthur - Huber Research Operator Thank you for standing by. At this time, I would l ...

Bain Capital Specialty Finance, Inc. (NYSE:BCSF) Q4 2024 Earnings Conference Call February 28, 2025 8:00 AM ET Company Participants Katherine Schneider - Managing Director-Investor Relations Michael Ewald - Chief Executive Officer Mike Boyle - President Amit Joshi - Chief Financial Officer Conference Call Participants Finian O'Shea - Wells Fargo Operator Good day, everyone and welcome to the Bain Capital Specialty Finance Fourth Quarter and Fiscal Year Ended December 31, 2024 Earnings Conference Call. At th ...

Financial Data and Key Metrics Changes - In Q4 2024, the company generated $43 million of net income, $66 million of operating cash flow, and $67 million of free cash flow [16] - For the full year 2024, net income was $184 million, operating cash flow was $248 million, and free cash flow was $251 million [16] - Free cash flow generation in 2024 was lower compared to previous years due to lower commodity prices [14] Business Line Data and Key Metrics Changes - The Mineral Rights segment generated $52 million of net income in Q4 2024, a decrease of $11 million compared to the prior year [16][17] - For the full year, the Mineral Rights segment's net income decreased by $39 million, primarily due to weaker coal markets [18] - The Soda Ash segment's net income decreased by $14 million in Q4 and $55 million for the full year, driven by lower sales prices due to an oversupplied market [20] Market Data and Key Metrics Changes - Metallurgical and thermal coal prices dropped by half from the highs seen in 2023, with expectations of continued low prices due to soft global steel demand and high coal inventory levels [8][9] - Global soda ash prices fell roughly 60% from record highs in 2023, attributed to new production capacity and weakened demand for flat glass [11] Company Strategy and Development Direction - The company is focused on deleveraging and derisking the partnership to maximize intrinsic value per unit, having paid off over $1.3 billion of financial obligations over the last decade [8] - The company is exploring opportunities in carbon-neutral initiatives, including leasing assets for carbon sequestration and renewable energy generation [12][13] Management's Comments on Operating Environment and Future Outlook - Management expects 2025 to be a challenging year for key commodities, with lower prices leading to reduced free cash flow generation [14] - Despite the challenges, the company is in a more attractive financial position than in over a decade due to significant deleveraging efforts [14] Other Important Information - The company redeemed all remaining preferred units and warrants, leaving only $142 million of debt obligations at year-end [21] - A special distribution of $1.21 per common unit was announced to cover tax liabilities associated with owning NRP common units in 2024 [23] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the call concluded without a Q&A segment [24][25][26]

Financial Data and Key Metrics Changes - In Q4 2024, the company generated $1.2 billion in adjusted revenue, representing a 34% year-over-year growth and at the high end of guidance [10][46] - Full-year 2024 adjusted revenue was $4.9 billion, a 30% year-over-year increase, with adjusted EPS at $0.23 [11][48] - Adjusted EBITDA margin improved to 18%, up from 2% the previous year, driven by operating leverage and efficiency gains [11][48] Business Line Data and Key Metrics Changes - Origination volume grew nearly 30% year-over-year, with significant contributions from both purchase and home equity loans [49] - The servicing portfolio reached $593 billion in unpaid principal balance, a 17% increase, with 308,000 new servicing clients added [19][55] - The company reported a gain on sale margin of 295 basis points, up 32 basis points from 2023, driven by growth in both direct-to-consumer and Partner Network channels [48] Market Data and Key Metrics Changes - The company’s purchase market share grew by 8% year-over-year, with no single player holding more than a single-digit market share [50][52] - The net rate lock volume increased by 47% year-over-year to $24 billion in Q4 2024 [46] - The company expects the mortgage origination market to grow by 10% to 15% in 2025, with total originations projected at around $1.9 trillion [84] Company Strategy and Development Direction - The company is focused on transforming homeownership through strategic investments in marketing, servicing, and technology [61][70] - The "Own the Dream" campaign aims to elevate the brand and connect with diverse demographics, particularly targeting first-time buyers [39][41] - The Rocket Superstack, which includes an end-to-end ecosystem and proprietary AI-driven technology, is central to the company's growth strategy [14][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2025, citing positive trends in housing inventory and equity levels, which could lead to a larger mortgage market [81][84] - The company plans to maintain a disciplined approach to capital allocation while leveraging AI to enhance operational efficiency [60][70] - Management highlighted the importance of client experience and recapture rates as key drivers for long-term growth [56][66] Other Important Information - The company ended 2024 with $2.9 billion in available cash and $7.6 billion in mortgage servicing rights, providing significant financial flexibility for strategic investments [71] - The launch of RocketRentRewards aims to assist renters in transitioning to homeownership, reflecting the company's commitment to affordability solutions [22][20] Q&A Session Summary Question: Can you unpack the first quarter revenue guide? - Management indicated optimism for 2025, expecting a 7% year-over-year growth in revenue, driven by volume increases and consistent gain on sale margins [80][81][92] Question: What are the early indicators from the brand refresh and Rocket.com launch? - Early results show promising increases in brand awareness and engagement metrics, with significant improvements in session length and conversion rates on Rocket.com [101][102] Question: How do you expect to drive market share gains in the current environment? - The company plans to focus on purchase market share growth through innovative products and enhanced client engagement strategies [132][135] Question: Where are the market share gains coming from? - Gains were observed in both direct-to-consumer and partner channels, with improved retention and conversion rates contributing to overall growth [140]

Cars.com (CARS) Q4 2024 Earnings Call February 28, 2025 10:46 AM ET Company Participants Katherine Chen - Vice President, Investor RelationsAlex Vetter - CEOSonia Jain - CFONaved Khan - Managing Director - Equity ResearchGary Prestopino - Managing DirectorMarvin Fong - DirectorJoseph Spak - Managing DirectorRajat Gupta - Executive Director, AutosDouglas Arthur - Managing Director Conference Call Participants Tom white - Managing Director, Senior Equity Analyst Operator Good morning, ladies and gentlemen. We ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 was $62.3 million, down 6% year-over-year, reflecting customer retention challenges [8][39] - Adjusted EBITDA was $17.5 million, down 12% year-over-year, with an adjusted EBITDA margin of 28% [9][47] - Unlevered free cash flow was $72.5 million on a trailing 12-month basis, up 6% year-over-year [51] - Adjusted net income grew by 18% year-over-year, with non-GAAP earnings per share increasing by 19% [39] Business Line Data and Key Metrics Changes - Subscription revenue decreased by 4% year-over-year, while professional services revenue declined more significantly [40] - The company ended Q4 with 519 enterprise customers, a decrease of 21 year-over-year [41] - Net dollar retention for 2024 was 90% for enterprise customers and 85% overall [42] Market Data and Key Metrics Changes - The total customer count was approximately 2,500, down about 250 from Q4 2023 [42] - Churn rates remained elevated, particularly in the life sciences sector, impacting overall performance [11][72] Company Strategy and Development Direction - The company is focusing on four key pillars: differentiated data, data delivery and integrations, driving customer success, and enabling digital engagement [17][64] - Strategic initiatives include combining sales channels and aligning customer success teams to improve retention and value delivery [15][32] - The company aims to enhance its master data management capabilities to better serve diverse customer needs [25][100] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that improvements in retention and growth will take longer than initially anticipated [16][31] - The company expects Q1 2025 to be a low point for revenue, with gradual improvement anticipated throughout the year [56][80] - Guidance for 2025 indicates a revenue decline of 5% to 9% year-over-year, with expectations for sequential growth in Q2 [58][61] Other Important Information - A $97 million goodwill impairment charge was recorded due to stock price decline, which is a non-cash accounting charge [55] - The company has amended its credit facilities to improve balance sheet efficiency, reducing total debt [53] Q&A Session Summary Question: Can you provide more details on churn dynamics? - Management indicated that churn was more pronounced in life sciences, with Q4 churn being unfavorable compared to Q4 2023 [72][74] Question: Are you assuming elongation in the sales cycle for 2025? - Management expects Q1 to be challenging due to churn dynamics but anticipates revenue declines to moderate as the year progresses [80] Question: What is embedded in the outlook regarding new customers versus upsell opportunities? - Recent performance has shown stronger results with new logos, while upsell opportunities face pricing pressure [86] Question: Have you seen a shift in marketing budgets from digital to in-person channels? - Management noted that while there is a macro environment affecting life sciences, they do not see a significant impact on their business from this shift [91] Question: Can you elaborate on why clients are downselling? - Management identified operational execution and pricing strategies as key areas to address customer needs and improve retention [99][100]