Ryan Specialty Group (NYSE:RYAN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker8Good afternoon, and thank you for joining us today for Ryan Specialty Holdings' fourth quarter 2025 earnings conference call. In addition to this call, the company filed a press release with the SEC earlier this afternoon, which has also been posted to its website at ryanspecialty.com. On today's call, management's prepared remarks and answers to your questions may contain forward-looking statements. Investors shoul ...

Financial Data and Key Metrics Changes - Revenue in Q1 2026 increased more than four times to $21.4 million, compared to $4.6 million in Q1 2025 [16] - Gross margin increased significantly to 78.6% in Q1 2026, compared to 24.5% in Q1 2025 [16] - Net loss for Q1 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 2025, primarily due to a loss on digital assets [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana, with more than 99% staked, generating a staking yield between approximately 6.5% and 7.2% [12] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 at the end of December 2025, representing a growth of roughly 13% [13][14] Market Data and Key Metrics Changes - Solana continues to lead across key metrics, including decentralized exchange trading volumes, active users, and developer engagement [6] - Institutional engagement has expanded significantly, with major asset managers like WisdomTree launching tokenized funds on Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by participating directly in economic activities occurring on-chain [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes the importance of Solana's current performance and real-world applications [6] - The company believes that the opportunity in front of Solana is increasingly clear, with a focus on long-term growth [5] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, with FWDI now issued on Solana [8] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings [9] Q&A Session Summary Question: Thoughts on recent token price volatility - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet [19][20] Question: Potential M&A framework - The company is looking for accretive businesses in both DAT and non-DAT M&A, with a focus on product market fit and scalable unit economics [23] Question: Importance of SOL per share as a KPI - SOL per share growth is considered the North Star KPI, with a target to consistently generate returns greater than the staking yield [24] Question: Capital allocation strategy in different market conditions - The company plans to be adaptive, focusing on balance sheet quality and potential M&A opportunities when trading at discounts [40][41] Question: Staking yields and network usage growth - Management clarified that increased validator participation does not impact staking yields, and they expect yields to increase as network activity grows [44][46] Question: Related party G&A expenses - Related party expenses are associated with the launch of the digital asset treasury strategy and are expected to decrease in the coming months [50]

Rivian Automotive (NasdaqGS:RIVN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker2Good afternoon, and thank you for joining us for Rivian's fourth quarter and full year 2025 earnings call. Today, I'm joined by RJ Scaringe, our CEO and founder, Claire McDonough, our Chief Financial Officer, and Javier Varela, our Chief Operating Officer. Before we begin, matters discussed on this call, including comments and responses to questions, reflect management's views as of today. We will also be making st ...

Financial Data and Key Metrics Changes - Total revenue decreased by approximately $3 million, or 2.7%, to approximately $108.5 million for Q1 2026 compared to $111.5 million in the prior year period [4] - Operating income increased by approximately $2.7 million, or 352.9%, to $3.5 million for Q1 2026 compared to approximately $800,000 in the prior year period [9] - Adjusted EBITDA for Q1 2026 was approximately $7.8 million, an increase of approximately $2 million, or 35.7%, compared to $5.7 million in the prior year period [10] - Net loss for Q1 2026 was approximately $100,000, with a loss per share of $0.02, compared to net income of approximately $500,000 and diluted EPS of $0.16 in the prior year period [10] - Gross profit was approximately $35.4 million for Q1 2026, essentially unchanged compared to the prior year period, but gross margin increased by 90 basis points to 32.6% [8] Business Line Data and Key Metrics Changes - Retail-Flooring segment revenue for Q1 2026 was approximately $25.3 million, down $6.4 million, or 20.2%, compared to $31.7 million in the prior year period [5] - Flooring Manufacturing segment revenue for Q1 2026 was approximately $28.9 million, a decrease of approximately $300,000, or 1.1%, compared to approximately $29.2 million in the prior year period [6] - Steel Manufacturing segment revenue for Q1 2026 was approximately $31.9 million, a decrease of approximately $1.4 million, or 4.3%, compared to approximately $33.3 million in the prior year period [6] Market Data and Key Metrics Changes - The decline in revenue was primarily attributed to a $7.1 million decline in the Retail-Flooring and Steel Manufacturing segments, partially offset by a $4.1 million increase in the Retail-Entertainment and Flooring Manufacturing segments [4] - Retail-Entertainment segment revenue for Q1 2026 was approximately $23.6 million, an increase of approximately $2.3 million, or 11%, compared to $21.3 million in the prior year period [4] Company Strategy and Development Direction - The company is rolling out a comprehensive strategy to integrate AI across business units to modernize operations and improve efficiency [11] - The integration of AI alongside robotics and data analytics aims to reinforce cost discipline that supports the long-term strategy [12] Management's Comments on Operating Environment and Future Outlook - Management noted that the portfolio companies continued to strengthen their operating disciplines and optimize cost structures despite sustained softness in new home construction and home refurbishment markets [3] - The company expressed encouragement regarding the expansion opportunities from new store openings, despite the challenges in the housing market [5] Other Important Information - The company successfully refinanced one of its credit facilities in the steel manufacturing segment, strengthening its balance sheet [3] - Total cash availability at the end of Q1 2026 was $38.7 million, consisting of cash on hand of $15.1 million and availability under various lines of credit of $23.6 million [11] Q&A Session Summary Question: No questions were asked during the Q&A session - There were no questions from participants during the conference call [13]

Dutch Bros (NYSE:BROS) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker3Thank you for standing by, and welcome to the Dutch Bros Inc. fourth quarter 2025 earnings conference call and webcast. This conference call and webcast is being recorded today, February 12, 2026, at 5:00 P.M. Eastern Time, and will be available for replay shortly after it's concluded. Following the company's presentation, we will open up the lines for questions, and instructions to queue up will be provided at that time. I w ...

Research Solutions (NasdaqCM:RSSS) Q2 2026 Earnings call February 12, 2026 05:00 PM ET Speaker4Thank you, operator. Good afternoon, everyone. Thank you for joining us today for the Research Solutions second quarter fiscal year 2026 earnings call. On the call with me today are Roy W. Olivier, President and Chief Executive Officer, Dave Kutil, Chief Financial Officer, and Josh Nicholson, Chief Strategy Officer. After the market closed this afternoon, the company issued a press release announcing its results f ...

Corsair Gaming (NasdaqGS:CRSR) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker7Good afternoon, and welcome to Corsair Gaming's Fourth Quarter and Full Year 2025 earnings conference call. As a reminder, today's call is being recorded and your participation implies consent to such recordings. 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 pr ...

Ultragenyx Pharmaceutical (NasdaqGS:RARE) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker10Good afternoon, and welcome to the Ultragenyx's fourth quarter and full year 2025 financial results conference call. At this time, all participants are in a listen-only mode. At the end of the prepared remarks, you will have an opportunity to ask questions during the Q&A portion of the call. It is now my pleasure to turn the call to Joshua Higa, Vice President of Investor Relations.Speaker5Thank you. We've ...

Procore Technologies (NYSE:PCOR) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker9Good afternoon. Thank you for attending today's Procore Technologies, Inc., FY 25 Q4 earnings call. My name is Tamia, and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end. If you would like to ask a question, please press star one on your telephone keypad. I would now like to pass the conference ov ...

Financial Data and Key Metrics Changes - Twilio reported record revenue of $1.4 billion in Q4 2025, representing a 14% year-over-year increase on a reported basis and 12% on an organic basis [4][13] - For the full year, revenue reached $5.1 billion, reflecting a 14% reported growth and 13% organic growth [13] - Non-GAAP income from operations for Q4 was $256 million, up 30% year-over-year, while for the full year, it was $924 million, a 29% increase [17][18] - Free cash flow for Q4 was also $256 million, and for the full year, it increased by 44% year-over-year to $945 million [14][19] - The company achieved its first full year of GAAP profitability with a GAAP income from operations of $158 million [14] Business Line Data and Key Metrics Changes - Voice revenue growth accelerated to the high teens in Q4, driven by strong adoption of voice AI, which saw over 60% year-over-year growth [15][14] - Messaging revenue growth was solid, particularly during Cyber Week, contributing to overall strong performance [15] - Software add-on revenue grew over 20% year-over-year, with Verify growing more than 25% for two consecutive quarters [16] - The number of large deals closed (over $500,000) increased by 36% year-over-year, indicating strong demand across business lines [6] Market Data and Key Metrics Changes - Twilio's dollar-based net expansion rate was 109% in Q4, reflecting improving growth trends [16] - The company saw a 34.5% year-over-year increase in messages sent during Cyber Week, with 6.99 billion messages sent [9] - RCS volume grew roughly 5x quarter-over-quarter, indicating strong traction in this area [10] Company Strategy and Development Direction - Twilio aims to be a foundational infrastructure layer in the age of AI, moving beyond just providing communication channels [5] - The company is focused on delivering essential infrastructure powered by contextual data and evolving automation, such as Voice AI, to help customers build personalized relationships [6][12] - A strategic partnership with AEG was established to enhance real-time, personalized communications at live events [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum into 2026, supported by a robust innovation roadmap and strong execution [12][24] - The company anticipates reported revenue growth of 11.5%-12.5% and organic growth of 8%-9% for the full year 2026 [21] - Management acknowledged the impact of increased A2P fees on margins but emphasized that these fees do not affect the ability to generate profit dollars [22][40] Other Important Information - Twilio completed $198 million in share repurchases in Q4 and $855 million for the full year, representing 90% of 2025 free cash flow [19][20] - The company is focused on cost discipline, with a net burn rate of just 1.5% in 2025, well below the target [19] Q&A Session Summary Question: What drove the voice strength in Q4? - Management noted broad adoption across customer cohorts, with strong performance in self-service and ISV channels, as well as direct enterprise use cases [27][28] Question: Can you provide visibility on Q1 guidance? - Management expressed confidence in Q1 guidance, citing broad-based strength in voice and messaging, with both channels growing in the high teens [31] Question: What is driving the growth in messaging? - Management indicated broad-based strength across multiple products, with no specific driver identified, but overall positive trends in messaging [42] Question: How is Twilio positioned against competitors? - Management highlighted differentiated technology and a strong developer experience as key advantages, allowing Twilio to capture market share [52][55] Question: What is the outlook for Voice AI growth? - Management sees strong growth potential in both enterprise and voice AI companies, with enterprise expected to drive long-term growth [59][60]