Financial Data and Key Metrics Changes - For fiscal year 2024, total revenue exceeded $6.7 billion for the first time, representing a 24% increase from the prior year and a 22% organic growth [15][44] - Adjusted EBITDA for the full year was $605 million, a 30% increase from 2023, with an adjusted EBITDA margin of 9%, up 50 basis points [44][60] - The company achieved a record contract awards of $7 billion, a 17% increase over 2023, with a win rate of 71%, the highest in company history [16][17] Business Line Data and Key Metrics Changes - Federal Solutions segment revenue increased by 33% year-over-year, driven by organic growth of 30% and contributions from acquisitions [48] - Critical Infrastructure segment revenue increased by 13% for the full year, primarily organic growth, with adjusted EBITDA increasing by 8% [52][53] - In Q4 2024, Federal Solutions revenue increased by 19%, while Critical Infrastructure revenue increased by 12% [46][50] Market Data and Key Metrics Changes - The company reported strong growth in critical infrastructure protection and cyber markets, with growth rates of 31% and 24% respectively in Q4 2024 [40] - The backlog at the end of Q4 totaled $8.9 billion, up 4% from the previous year, with a funded backlog at 66%, the highest since the IPO [59][121] Company Strategy and Development Direction - The company is focused on high-growth areas such as artificial intelligence, cyber, and environmental remediation, with plans to continue strategic acquisitions [15][29] - The company aims to leverage its unique portfolio in federal and critical infrastructure markets, aligning with government priorities and increasing infrastructure spending [11][33] - The strategy includes moving up the value chain and differentiating with advanced technology and digital enablement [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing strong alignment with government priorities and ongoing global infrastructure spending [67] - The company anticipates organic growth in 2025, despite some expected lower volumes on certain contracts, with guidance for revenue between $7.0 billion and $7.5 billion [59][60] - Management highlighted the importance of maintaining a strong balance sheet to support strategic investments and acquisitions [65] Other Important Information - The company completed two significant acquisitions in 2024, enhancing capabilities in federal solutions and critical infrastructure [26][27] - Parsons was recognized as one of America's most trusted companies by Forbes, and its Kicking Horse Canyon project received a prestigious award [30] Q&A Session Summary Question: Update on confidential customer and project - Management confirmed that the option year two has been exercised, valued at $242 million, but noted a related program has been paused, impacting completion [70][72] Question: Procurement environment and contract awards - Management indicated a slower procurement environment but noted an increase in extensions and ceiling increases, with less than 5% of business up for recompete [78][79] Question: Guidance for 2025 and impact of confidential contract - Guidance includes the full negotiated amount for the option year, with potential for adjustments based on related program developments [116][82] Question: Role with FAA and current projects - Management highlighted ongoing support for the FAA with a significant contract, emphasizing opportunities for modernization and safety improvements [105][108] Question: Clarification on margin expectations - Management discussed expectations for margin progression, indicating some compression in federal business but growth in critical infrastructure margins [130]

Financial Data and Key Metrics Changes - Consolidated delivered sales reached $522 million, up 4% year-over-year [8][36] - Non-GAAP operating margin expanded by 20 basis points to 6.8% [9][36] - GAAP diluted EPS was $0.68, compared to $0.66 in the prior year [37] Business Segment Data and Key Metrics Changes - Retail segment sales increased by 11% to $228 million, driven by same-store sales growth [9][38] - Wholesale segment delivered sales grew by 2% to $363 million, supported by the North America La-Z-Boy brand [40] - Joybird reported delivered sales of $37 million, up 9% year-over-year, achieving breakeven operating profit [41][28] Market Data and Key Metrics Changes - Total written sales for the company-owned retail segment increased by 15% year-over-year [13] - Written same-store sales for the entire La-Z-Boy Furniture Galleries network increased by 5% [14] - The furniture and home furnishing industry grew by 5% during the fiscal third quarter [15] Company Strategy and Development Direction - The Century Vision strategy aims to drive top-line growth at double the market rate and maintain double-digit operating margins [17][50] - The company plans to expand its La-Z-Boy Furniture Galleries network to over 400 stores in the coming years [19] - A focus on enhancing brand reach through strategic partnerships and expanding distribution channels is emphasized [22][76] Management's Comments on Operating Environment and Future Outlook - The management acknowledges a volatile operating environment but remains optimistic about growth opportunities despite industry challenges [11][33] - The company expects fourth-quarter delivered sales in the range of $545 million and non-GAAP operating margin between 8.5% and 9.5% [50] - Management is monitoring the evolving global tariff and trade environment while planning for various scenarios [51][117] Other Important Information - La-Z-Boy was named to Forbes' list of America's best large employers for 2025 [56] - The company has a strong balance sheet with $315 million in cash and no externally funded debt [46] Q&A Session Summary Question: Can you provide insights on the trends throughout the quarter? - Management noted that strength was strongest during the holiday period, with overall year-on-year strength across all three months of the quarter [62] Question: What are the expectations for operating margins in the fourth quarter? - Management highlighted that core North America La-Z-Boy wholesale business has shown margin expansion, while challenges remain in the international business [68][70] Question: What is the status of strategic partnerships? - Management confirmed ongoing investments in comfort studios and emphasized the importance of existing partnerships while exploring new opportunities [74][78] Question: How is the core wholesale segment performing? - Management expressed satisfaction with progress in the core North America wholesale business, noting improvements in supply chain efficiency [85] Question: What is the outlook for Joybird? - Management indicated that Joybird is positioned for growth with plans to open three to four new stores next year, while maintaining financial discipline [106]

Perion Network Ltd. (NASDAQ:PERI) Q4 2024 Earnings Conference Call February 19, 2025 8:30 AM ET Company Participants Tal Jacobson - Chief Executive Officer Elad Tzubery - Chief Financial Officer Conference Call Participants Andrew Marok - Raymond James Jason Helfstein - Oppenheimer Eric Martinuzzi - Lake Street Laura Martin - Needham & Co. Jeff Martin - ROTH Capital Operator Hello, everybody, and welcome to the Perion Network Ltd. fourth quarter and full year 2024 earnings conference call. Today's conferenc ...

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $103.7 million, up 13% year-over-year, accelerating from 8% growth in Q3 2024 [25] - Adjusted EBITDA for Q4 was $20.7 million, with an adjusted EBITDA margin of 20%, an improvement of 240 basis points from a year earlier [25][26] - For the full year 2024, Marketplace revenue was $303.1 million, with a 27.6% take rate [28] - Services revenue was $88.4 million, representing year-over-year growth of 62% and contributing 23% to total revenue [30] Business Line Data and Key Metrics Changes - Marketplace revenue growth is expected to be muted in 2025 due to macroeconomic conditions, but larger projects are showing robust growth [29] - Services revenue is anticipated to continue growing at a healthy double-digit rate, with contributions to total revenue expected to exceed 30% in 2025 [31] Market Data and Key Metrics Changes - The number of annual active buyers was 3.6 million, with an annual spend per buyer of $302 [28] - Buyers spending over $10,000 showed resilient growth, while overall active buyers did not grow due to macro headwinds [28] Company Strategy and Development Direction - The company aims to pursue quality of revenue and upmarket opportunities in the Marketplace segment while expanding offerings in the Services segment [8] - Fiverr Go was launched as an open platform for personalized AI tools, designed to empower freelancers and reshape the power dynamic between creators and AI [13][14] - The Freelancer Equity Program was introduced to give top-performing freelancers equity shares in Fiverr, fostering loyalty and engagement [22][114] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's positioning for 2025, despite macroeconomic challenges [7][26] - The company believes that a macro rebound will eventually benefit Marketplace revenue growth [29] - Management highlighted the importance of maintaining a talent-focused approach and empowering freelancers amid economic pressures [10][12] Other Important Information - Fiverr hosted about 100 community events in 2024, with over 100,000 registrations, emphasizing its commitment to the freelancer community [11] - The company is focused on optimizing the quality of revenue and expanding into larger buyers and complex projects [26] Q&A Session Summary Question: How will Fiverr Go help conversion and what is the impact on margins? - Fiverr Go is designed to enhance conversion by providing instant responses to customer inquiries, which is crucial for conversion rates [37] - Investments in Fiverr Go will continue, but guidance reflects expected improvements in EBITDA despite these investments [42] Question: Will Fiverr Go expand to all categories? - Currently, Fiverr Go operates in 60 categories, with plans to expand further as technology develops [48][50] Question: What drives higher spend per buyer in newer cohorts? - Factors include quality improvements, complex projects handled by Dynamic Matching, and a focus on high-value buyers [56] Question: How does Fiverr Go impact pricing and deflationary aspects? - Fiverr Go allows freelancers to maintain control over pricing, ensuring that human involvement remains integral to the creative process [102] Question: What is the outlook for Services revenue and advertising? - Services revenue is expected to grow significantly, with advertising products evolving and providing additional monetization opportunities [100] Question: Is there seasonality in Services revenue? - Services revenue is expected to exhibit flat behavior throughout the year, with no significant seasonality identified [107]

Appian Corporation (NASDAQ:APPN) Q4 2024 Earnings Conference Call February 19, 2025 8:30 AM ET Company Participants Jack Andrews - IR Matt Calkins - Founder & CEO Mark Lynch - Interim CFO Conference Call Participants Sanjit Singh - Morgan Stanley Steve Enders - Citi Derrick Wood - TD Cowen Raimo Lenschow - Barclays Nick Altmann - Scotiabank Devin Au - KeyBanc Capital Markets Operator And good day, and welcome to Appian Corporation's Fourth Quarter 2024 Earnings Conference Call. At this time, all participant ...

Financial Data and Key Metrics Changes - FFO and core FFO per share for Q4 2024 were both $0.35, compared to $0.36 in Q4 2023, indicating a slight decrease [20] - For the full year 2024, FFO was $1.41 and core FFO was $1.42 per share, down from $1.46 and $1.47 per share in 2023 [20] - Total operating revenues for Q4 2024 were $37.4 million, up from $35.9 million in Q4 2023, while operating expenses decreased from $28.1 million to $25 million [21][22] - Overall leverage reduced from 46.1% of gross assets in 2023 to 44.1% in 2024 [24] Business Line Data and Key Metrics Changes - Same-store rents increased by 5% in Q4 2024 compared to Q4 2023, driven by higher straight-line rent rates and recovery revenue [21] - The industrial concentration in the portfolio increased from 60% to 63% during the year [25] Market Data and Key Metrics Changes - Industrial real estate continued to outperform despite challenges, with net absorption totaling 135 million square feet in 2024 [10] - Q4 2024 industrial vacancy rose by 150 basis points to 6.7%, the slowest pace of increase in two years [10] Company Strategy and Development Direction - The company aims to increase its industrial concentration to at least 70% in the near term while maintaining strict underwriting standards [13][14] - The focus remains on acquiring quality properties and managing a disciplined approach to capital deployment [15][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the portfolio's ability to generate sustainable cash flow, with over 90% occupancy as of December 31, 2024 [16] - The company is well-positioned to capitalize on opportunities regardless of the economic environment, with over $98 million available via credit lines and cash on hand [15] Other Important Information - The company sold seven properties, increasing portfolio occupancy to 98.7% as of December 31, 2024 [12] - The common stock dividend is $0.30 per share per quarter, yielding approximately 7.5% [28] Q&A Session Summary Question: What are the leverage expectations? - Management aims to reduce leverage from 44.1% to the lower 40s, focusing on decreasing secured debt [36][37] Question: What is the market depth for office assets? - The office portfolio has a 7% vacancy rate, and sales will be opportunistic, with plans to sell four or five office assets this year [46][47] Question: What are the expectations for incentive fee waivers? - Management is working towards returning to higher incentive fees but does not have a specific timeline [51][54] Question: What is the leasing activity in Q4? - Leasing activity included both office and industrial properties, with positive rent trends observed [64][65] Question: What is the timing for held-for-sale assets? - One asset is expected to close by April 1, and another in the second quarter [74] Question: What are the cap rates for acquisitions versus sales? - Cap rates for acquisitions are around 7.5% to 8%, while sales are slightly higher due to the office nature of the assets [79] Question: Are there any impacts from tariffs? - No immediate impacts from tariffs have been observed, and potential reshoring may create more industrial opportunities [81] Question: What is the expected acquisition volume? - The company aims for a more normal acquisition volume of around $100 million per year [88]

Compass, Inc. (NYSE:COMP) Q4 2024 Earnings Conference Call February 18, 2025 5:00 PM ET Company Participants Soham Bhonsle - Head of IR Robert Reffkin - Founder & CEO Kalani Reelitz - CFO Conference Call Participants Jason Helfstein - Oppenheimer Christopher Kuntarich - UBS Bernie McTernan - Needham Ryan McKeveny - Zelman & Associates Michael Ng - Goldman Sachs Operator Thank you for standing by. And at this time, I would like to welcome everyone to today's Compass, Inc. Q4 and full year 2024 financial resu ...

Financial Data and Key Metrics Changes - Arista Networks achieved record revenue of $7 billion for fiscal year 2024, reflecting a growth of almost 20% compared to initial guidance of 10% to 12% [9][33] - Q4 2024 revenues were $1.93 billion, up 25.3% year-over-year, exceeding guidance [33] - Non-GAAP operating margin for Q4 was 47%, contributing to a fiscal year operating margin of 47.5% [10][38] - Non-GAAP gross margin for Q4 was 64.2%, slightly down from 65.4% year-over-year [34] Business Line Data and Key Metrics Changes - Cloud and AI sectors contributed approximately 48% of annual revenue, with enterprise and financials at 35%, and providers at 17% [11][12] - Subscription-based network services and software accounted for approximately 17% of total revenue [19] - The core cloud AI and data center products generated about 65% of revenue, with a significant increase in 400-gig customer base to approximately 1,000 [14] Market Data and Key Metrics Changes - International revenue contribution for Q4 was 16%, down from 17.6% in the previous quarter, primarily due to increased domestic revenue from large global customers [33] - The Americas region showed strong performance, contributing 84% of total revenue [11] Company Strategy and Development Direction - The company aims for $10 billion in annual revenue with a double-digit CAGR, reiterating a revenue guidance of approximately $8.2 billion for 2025 [27][48] - Arista's strategy focuses on AI, cloud, and enterprise markets, with significant investments in product innovation and customer partnerships [21][28] - The company is positioned as a modern network innovator, emphasizing the importance of unified data across silos for optimal networking outcomes [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving AI revenue goals of $1.5 billion in AI centers for 2025, despite some delays with one customer [15][48] - The leadership team highlighted the importance of navigating a dynamic market environment, with a focus on innovation and customer needs [29][50] - The company expects to maintain a healthy position regarding key components and manage variability in purchase commitments to meet customer demand [45] Other Important Information - The company repurchased $123.8 million of common stock in Q4, with a total of $423.6 million repurchased in fiscal 2024 [40] - Cash, cash equivalents, and marketable securities totaled approximately $8.3 billion at the end of Q4 [40] Q&A Session Summary Question: Timing of year and risks related to AI back-end switches - Management confirmed commitment to four out of five AI projects, with three customers expected to roll out a cumulative 100,000 GPUs this year [56][58] Question: Impact of white box vendors on revenue growth - Management acknowledged coexistence with white box vendors, emphasizing Arista's differentiation in AI back-end networks [62][66] Question: Cloud titan numbers and Meta's performance - Management noted that Meta's lower numbers were influenced by their reduced CapEx in 2023, while other cloud titans performed well [70][72] Question: Gross margins and mix-driven factors - Management clarified that gross margin changes were primarily mix-driven, with some absorption of tariffs impacting the numbers [75][78] Question: Opportunities from Stargate and Sovereign AI - Management discussed the integration of GPUs and networking in projects like Stargate, highlighting optimism for future AI accelerator developments [91][93] Question: AI back-end sales and TAM for 2028 - Management indicated that approximately one-third of the $70 billion TAM in 2028 is expected to come from AI [97][98]

XP Inc. (NASDAQ:XP) Q4 2024 Earnings Conference Call February 18, 2025 5:00 PM ET Company Participants Andre Parize - Head, IR Thiago Maffra - CEO Victor Mansur - CFO Conference Call Participants Thiago Batista - UBS Eduardo Rosman - BTG Guilherme Grespan - JPMorgan Gustavo Schroden - Citi Tito Labarta - Goldman Sachs Antonio Ruette - Bank of America Neha Agarwala - HSBC Marcelo Mizrahi - Bradesco BBI Daniel Vaz - Safra Renato Meloni - Autonomous Andre Parize Good evening, everyone. I'm Andre Parize, Invest ...

Financial Data and Key Metrics Changes - Total revenues for Q4 2024 were $79.2 million, exceeding quarterly guidance, with adjusted earnings per share of $0.47, also above guidance [8][26]. - Adjusted net income for Q4 2024 was $13.6 million, or adjusted diluted net income per share of $0.47, compared to $0.39 in the prior year [35]. - Total company adjusted gross margin was 47.7% in Q4 2024, up from 43.3% in the prior year [32]. Business Line Data and Key Metrics Changes - Global S&BT segment revenues were $43.9 million, a 4% increase year-over-year, driven by Gen AI consulting, offset by weakness in eProcurement [27][28]. - Oracle Solutions segment revenues were $18.2 million, a 6% decrease year-over-year, primarily due to the wind down of a large engagement [28]. - SAP Solutions segment revenues were $17.2 million, a 51% increase year-over-year, driven by strong software-related sales [29]. Market Data and Key Metrics Changes - Approximately 22% of total revenues before reimbursements consist of recurring multi-year and subscription-based revenues [30]. - The company expects strong demand for SAP services throughout 2025, despite a tempering outlook for Q1 2025 [40]. Company Strategy and Development Direction - The company is focusing on Gen AI-enabled transformations, viewing it as a generational opportunity for value creation [11][45]. - Strategic investments are being made in the AI XPLR platform and the training of associates to enhance Gen AI capabilities [46][48]. - The acquisition of LeewayHertz is expected to accelerate efforts in Gen AI and enhance the company's offerings [17][18]. Management's Comments on Operating Environment and Future Outlook - Management anticipates an increase in IT budgets for Gen AI initiatives in 2025, moving from awareness to budgeted projects [44]. - The company expects to see velocity in the pipeline as clients are better prepared and budgeted for Gen AI initiatives [78]. - There is an expectation of continued strong demand for digital transformation services, despite economic concerns [43]. Other Important Information - The company repurchased 117,000 shares at an average price of $30.95 per share during the quarter [37]. - A 9% increase in the annual dividend was authorized, raising it from $0.44 to $0.48 per share [38]. Q&A Session Summary Question: Can you provide more detail on the breadth of what you're working on regarding Gen AI? - Management noted that client engagements are increasingly focused on Gen AI, driving meeting counts and revenue opportunities [59]. Question: How has the news about DeepSeek affected your pipeline? - Management indicated that the advancements in foundational large language models are positive for Gen AI solutions, enhancing their competitive edge [64]. Question: Is the recent SAP business performance sustainable? - Management expressed that while Q4 performance was strong, it may not be sustainable into Q1, but they expect strong demand throughout 2025 [68]. Question: Are you seeing meetings convert into implementation contracts? - Management reported increasing activity and visibility on pipeline conversion, with clients planning budgeted initiatives for 2025 [77]. Question: Can you quantify the headwind from eProcurement and OneStream in Q4? - Management acknowledged that these areas were significant enough to impact reported growth, but specific quantification was not provided [92].