Financial Data and Key Metrics Changes - Revenue in Q4 2024 was approximately $115 million, up roughly 11% year over year, driven by increased transaction volume and transaction yield growth [16][41] - Non-GAAP gross margin reached almost 75%, up 350 basis points from the previous year, achieving the targeted margin milestone ahead of the 2025 objective [16][48] - Adjusted EBITDA margins for the quarter reached almost 23%, hitting the milestone committed during the Investor Day [18][48] - GAAP net income for Q4 2024 was $4.7 million, compared to a net loss of $4.5 million in Q4 2023, marking the third GAAP net income quarter since going public [51][52] - Non-GAAP diluted earnings per share increased 60% to $0.08 compared to $0.05 in Q4 2023 [53] Business Line Data and Key Metrics Changes - Software revenue was $30.9 million, accounting for 26.8% of total revenue, increasing 6.4% year over year [45] - Payment revenue was $83.4 million, accounting for 72.2% of total revenue, increasing 12.3% year over year [46] - Transaction yield increased to $5.80 per transaction, up 6.4% from $5.45 in Q4 2023 [44][46] Market Data and Key Metrics Changes - The overall top of funnel opportunities were down roughly 2%, with buyer customer logo count growth of over 6% in 2024 [11][12] - Positive growth was observed in three major verticals: real estate, financial services, and media, while declines in the HOA vertical moderated [11] Company Strategy and Development Direction - The company aims to continue building future growth through ERP integrations and vertical market expansion, alongside key product innovations [20][39] - New product offerings include Payment Accelerator 2.0 and AvidPay 2.0, which are expected to enhance revenue growth and margin expansion [25][29] - The company is focused on maximizing e-payment penetration and leveraging AI for operational efficiencies [34][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving long-term growth despite macroeconomic challenges, emphasizing disciplined execution and innovation [38][40] - The 2025 revenue outlook is projected to be between $453 million and $460 million, reflecting a cautious approach due to the unpredictable macroeconomic environment [56][57] Other Important Information - The company repurchased $25 million worth of shares in Q4 2024, totaling $50 million for the year under a $100 million share repurchase program [7][8] - The company ended the year with a strong cash position of $389.3 million and an undrawn credit facility of $150 million [54] Q&A Session Summary Question: Update on gross margin expansion and operating expenses - Management indicated a long-term trajectory towards an 80% gross margin, driven by sourcing strategies, standardization, and AI automation [63][64] Question: Insights on the financial services partner and paper checks initiative - The company plans to leverage existing specialty networks to eliminate paper checks and maximize electronic payments [68][70] Question: Expectations for macro headwinds in 2025 revenue guidance - Management noted that the guidance reflects a cautious outlook, with anticipated low single-digit transaction growth and contributions from new payment methods [76][80] Question: Trends in vertical-specific activity exiting 2024 - Management confirmed that while all verticals experienced subdued activity, they are optimistic about future growth driven by new channel partnerships [104]

Financial Data and Key Metrics Changes - Research and development expenses increased to $66 million for the full year ended December 31, 2024, compared to $56.8 million for the previous year, driven by good manufacturing practices and additional clinical trial activities [29] - General and administrative expenses decreased to $29 million for the full year ended December 31, 2024, from $30 million in 2023, primarily due to a decrease in issuance costs [30] - Net loss for the full year ended December 31, 2024, was $89.3 million or $0.36 per share, compared to a net loss of $111.6 million or $0.96 per share for the previous year [30] - As of December 31, 2024, the company had $139 million in cash and cash equivalents, expected to support planned operating expenses into the fourth quarter of 2026 [31] Business Line Data and Key Metrics Changes - The TSHA-102 program is advancing with a focus on generating critical clinical data across two REVEAL Phase 1/2 trials for Rett syndrome [10][11] - Dosing of ten patients in Part A of the REVEAL trials has been completed, with both high and low doses demonstrating an encouraging safety profile [12][13] Market Data and Key Metrics Changes - The company is focused on the Rett syndrome market, which has a high unmet need due to the progressive nature of the disease and the significant burden on caregivers [24] Company Strategy and Development Direction - The strategy involves utilizing Part A of the trials to generate a dataset that informs the pivotal Part B trial, focusing on objective measures that capture improvements in core features of Rett syndrome [13][20] - The company aims to bring TSHA-102 to patients as expeditiously and safely as possible, with ongoing discussions with the FDA to solidify the regulatory pathway [16][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the differentiated gene therapy candidate, anticipating a transformative year ahead with key milestones expected in the first half of 2025 [32][33] - The FDA discussions have been constructive, with a focus on functional outcomes that are clinically meaningful to patients and caregivers [46][49] Other Important Information - The company has completed dosing in both the high and low dose cohorts, with ongoing evaluations of functional gains across multiple domains [15][27] - The FDA has been open-minded regarding trial design and endpoints, emphasizing the importance of clinically meaningful outcomes [63][64] Q&A Session Summary Question: Can you speak to the number of people involved in FDA discussions? - Management indicated that discussions typically involve 15 to 20 FDA representatives, including senior officials, and have not been impacted by recent changes in administration [38][39] Question: Any changes in FDA's expectations regarding functional gains? - Management stated that FDA discussions have remained consistent, focusing on clinically meaningful objective improvements across key domains [44][49] Question: What differentiates TSHA-102 from competitors in the gene therapy space? - Management highlighted the use of self-complementary technology in TSHA-102, which allows for quicker protein production and potentially faster clinical effects compared to competitors [56][57] Question: What is the timeline for reaching alignment with the FDA on endpoints? - Management expressed optimism about ongoing discussions and aims to provide a regulatory update coinciding with clinical data updates in the first half of 2025 [84][85] Question: What is the safety profile of the high dose patients? - Management reported no treatment-related serious adverse events or dose-limiting toxicities observed in the ten patients dosed, indicating a favorable safety profile [75][103]

Financial Data and Key Metrics Changes - The company achieved first quarter sales of $212 million, in line with expectations and normal seasonal trends [8] - Diluted GAAP EPS attributable to Photronics shareholders was $0.68, while non-GAAP EPS was $0.52, above the high end of guidance [21][22] - Total revenue declined 5% sequentially, with IC revenue down 6% quarter over quarter to $154 million [17] - Operating margin was 25%, at the high end of guidance, while gross margins declined slightly to 36% due to lower sales volumes [20] Business Line Data and Key Metrics Changes - Within the IC segment, mainstream revenue declined 9% year over year, reflecting overall semiconductor industry softness, while high-end IC showed strength, particularly in the 14 to 22 nanometer geometry ranges [9][18] - FPD revenue remained stable at $58 million, with the company maintaining its market leadership due to technological superiority [19][20] - The high-end business represented 39% of ASPs in Q1 2025, up from 36% in FY 2024 [18] Market Data and Key Metrics Changes - The IC market experienced a 2% year-over-year decline, primarily due to weakness in Asia and Europe [9] - The FPD market saw slight declines year over year, but demand from customers in China remained strong [10] Company Strategy and Development Direction - The company is focusing on high-end segments to improve blended ASPs and leverage competitive strengths [30] - Investments are being made in regional capacity close to customer locations to mitigate potential tariff impacts [14] - The company plans to spend $200 million in CapEx in 2025, focusing on capacity, capability, and end-of-life tool initiatives [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the outlook for 2025 due to current market conditions and limited visibility [27] - The AI landscape is seen as a long-term growth driver, with expectations for increased photomask demand from AI-related applications [12][63] - The automotive and industrial sectors remain weak, with no significant signs of recovery [68] Other Important Information - The company generated $78 million in operating cash flow, representing 37% of total revenue [22] - Total cash at the end of the quarter was $642 million, with a modest $3 million of debt remaining [25] Q&A Session Summary Question: Why is the guidance flat quarter over quarter? - Management indicated weakness in the low-end mainstream business, particularly from 6-inch wafer fabs, impacting revenue outlook [30] Question: How is the supply-demand equation in mainstream? - Pricing remains firm, but the overall market size appears smaller due to weakness in automotive and industrial applications [34] Question: Is there increased competition from local Chinese suppliers? - Yes, there is increased competition, but the company is focusing on middle and high-end segments to maintain stable ASPs [36] Question: What challenges were faced in scaling up to Gen 8.6% AMOLED screens? - Challenges included scaling specifications and integrating advanced mask technologies onto larger substrates [38] Question: What is the current mindset on buybacks versus acquisitions? - The company remains cautious but has a war chest for potential M&A opportunities while also considering share repurchases [46] Question: How is the demand for 22 and 28 nanometer nodes trending? - There is positive traction from AI-driven business, particularly in support chips for the AI ecosystem [62] Question: What are the top risks for 2025? - The top risks identified are macroeconomic conditions and geopolitical tensions [80]

National Vision (EYE) Q4 2024 Earnings Call February 26, 2025 03:42 PM ET Company Participants Tamara Gonzalez - VP - Investor RelationsReade Fahs - Chief Executive OfficerAlex Wilkes - PresidentMelissa Rasmussen - Senior VP & CFOAnthony Chukumba - Managing DirectorTaylor Brimberg - VP - Equity ResearchSimeon Gutman - Managing DirectorMeghan Holtz - VP & Healthcare Services Equity Research Conference Call Participants Michael Lasser - Equity Research Analyst - Hardlines, Broadlines & Food RetailBrandon Chea ...

SkyWater (SKYT) Q4 2024 Earnings Call February 26, 2025 03:35 PM ET Company Participants Claire McAdams - Investor RelationsThomas Sonderman - CEO & DirectorSteve Manko - CFOKrish Sankar - Managing DirectorNick Doyle - Vice President Conference Call Participants Harsh Kumar - Managing Director & Senior Research AnalystRichard Shannon - Senior Research Analyst Operator Good morning. My name is Aaron, and I will be your conference operator for today. At this time, I would like to welcome everyone to the SkyWa ...

Financial Data and Key Metrics Changes - In Q4 2025, the company generated revenues of $1.085 billion and adjusted EBITDA of $116.4 million, representing 10.7% of revenue [9][30] - For the full fiscal year 2025, total revenues reached $4.702 billion, with an adjusted EBITDA margin of 12.3%, marking a 50% revenue increase over the past three years and a 450 basis point EBITDA margin expansion [10][31] - Adjusted net income for Q4 was $34.5 million, with adjusted diluted EPS increasing 48.1% to $1.17 per share [32] Business Line Data and Key Metrics Changes - The top five customers accounted for 56.7% of total revenue in Q4, growing 14.2%, while all other customers grew 13.5% [32] - AT&T was the largest customer, contributing $251.4 million, which grew 54.5% in total and 22.7% on an organic basis [33] Market Data and Key Metrics Changes - Backlog at the end of Q4 was $7.76 billion, with $4.642 billion expected to be completed in the next twelve months [34] - Operating cash flows were strong at $328.2 million in Q4, with a total of $349.1 million for the full year [35] Company Strategy and Development Direction - The company remains focused on organic growth, M&A, and share repurchases, having completed three acquisitions in fiscal 2025 and repurchased 410,000 shares [11][36] - The strategy emphasizes differentiation through a comprehensive footprint and high service levels, with a commitment to capitalizing on fiber-to-the-home and 5G opportunities [12][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning to benefit from significant industry tailwinds, particularly in fiber-to-the-home and hyperscaler long-haul projects [12][19] - For fiscal 2026, the company expects total revenue to increase by 10% to 13% compared to fiscal 2025, excluding storm restoration revenues [23][39] Other Important Information - The company announced a new $150 million stock repurchase program following the expiration of the previous authorization [5] - Capital expenditures for fiscal 2026 are expected to range from $220 million to $230 million [39] Q&A Session Summary Question: Clarification on 2026 guidance - Management confirmed that the 2026 revenue outlook does not include $114 million from storm work in fiscal 2025 [42][43] Question: Expectations for margins - Management indicated that while they are pleased with past margin improvements, they do not provide specific full-year margin guidance [50][52] Question: Organic revenue performance - Management noted that storm work contributed positively, but there were also unexpected weather challenges impacting overall performance [60][61] Question: AI data center opportunities - Management highlighted ongoing discussions with hyperscalers and the potential for significant long-term opportunities in AI infrastructure [82][85] Question: Capital allocation strategy - Management emphasized a balanced approach between growth investments and share repurchases, with a focus on maintaining low net leverage [90][91] Question: Headcount changes - Management clarified that the reduction in headcount was due to a mix of in-house labor and subcontractors, with no cause for concern [100][101] Question: Wireless revenues - Wireless revenues for the quarter were reported at a little over 7% [122] Question: BEAD revenues - Management confirmed that no BEAD revenues are included in the fiscal 2026 outlook, but they are actively pursuing opportunities [124][126]

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) Q4 2024 Results Conference Call February 26, 2025 9:30 AM ET Company Participants Natalie Schoolcraft - Vice President of Investor Relations Andrew Robinson - Chairman and Chief Executive Officer Mark Haushill - Chief Financial Officer Conference Call Participants Mark Hughes - Truist Securities Matt Carletti - Citizens JMP Charlie Rodgers - Jefferies Alex Scott - Barclays Rowland Mayor - Oppenheimer Andrew Kligerman - TD Cowen Thank you for standing by, ...

RLJ Lodging Trust (NYSE:RLJ) Q4 2024 Earnings Conference Call February 26, 2025 10:00 AM ET Company Participants Nikhil Bhalla - Senior Vice President Finance and Treasurer Leslie Hale - President and CEO Sean Mahoney - Executive Vice President and CFO Tom Bardenett - Chief Operating Officer Conference Call Participants Michael Bellisario - Baird Jonathan Jenkins - Oppenheimer Austin Wurschmidt - KeyBanc Gregory Miller - Truist Dori Kesten - Wells Fargo Floris van Dijkum - Compass Point Chris Woronka - Deut ...

Dole (DOLE) Q4 2024 Earnings Call February 26, 2025 03:27 PM ET Company Participants James O'Regan - Head Of Investor RelationsRory Byrne - CEO & Executive DirectorJacinta Devine - CFO & DirectorChristopher Barnes - VP - Equity Research Conference Call Participants Gary Martin - Equity Research Analyst Operator Welcome to the Doull PLC Fourth Quarter and Full Year twenty twenty four Earnings Conference Call and Webcast. Today's conference is being broadcast live over the Internet and is also being recorded ...

Financial Data and Key Metrics Changes - GAAP net income for the year ended 2024 was $42.7 million, or $0.75 per diluted share, compared to $24 million, or $0.42 per diluted share for 2023, indicating a significant increase [35] - Cash NOI for the fourth quarter was $41 million, a decrease of 4.3% from $42.8 million in the same period in 2023 [35] - AFFO for the fourth quarter was $30.2 million, or $0.54 per diluted share, compared to $32.7 million, or $0.57 per diluted share during the same period in 2023 [39] Business Line Data and Key Metrics Changes - The company executed over 1.1 million rentable square feet in lease renewals and modifications, representing approximately 20% of the total real estate portfolio [23] - The weighted average lease term (WALT) increased by approximately 1.5 years to 9.7 years at year-end [25] - The overall portfolio EBITDARM coverage ratio improved to 5.3 times, with less than 2% of ABR having an EBITDARM coverage ratio below one times [16][28] Market Data and Key Metrics Changes - The company has increased exposure to investment-grade tenants to 66.9% [17] - The weighted average lease rate increased by 50 basis points to 96% compared to 95.5% at the end of the third quarter [27] - The company is actively marketing a property in Stoughton, Massachusetts, which accounts for approximately 3.4% of the portfolio's square footage [30] Company Strategy and Development Direction - The company aims to grow enterprise value by approximately 7.5% to 15% per annum in 2025 [50] - The focus remains on long-term net lease investments in strategic locations with reliable tenancy sponsorship [52] - The company plans to leverage its strong capital position to pursue accretive acquisitions and fill gaps in development budgets [60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the healthcare industry's recovery and improving credit metrics among tenants [68] - The company anticipates a continued focus on disciplined growth and is optimistic about the transaction market despite a higher interest rate environment [32][50] - Management highlighted the importance of maintaining a strong balance sheet and financial flexibility in the current economic climate [42] Other Important Information - The board approved a change in the frequency of distributions from monthly to quarterly, effective in 2025 [43] - The company closed on a new $600 million revolving credit agreement, increasing its capacity for external growth [41] - The company successfully resolved all exposure related to Genesis Care by releasing, leasing, or selling all 17 assets [18] Q&A Session Summary Question: What should be the main signposts for 2025? - Management indicated a target growth of 7.5% to 15% per annum and emphasized a disciplined approach to acquisitions [50][52] Question: What is the expected mix between loans and acquisitions in 2025? - The majority of transaction volume is expected to be acquisitions, with some mezzanine loans providing mid-teen returns during the funded period [55][60] Question: Are there any new credit issues to be aware of? - Management reported only one small tenant left, maintaining a high renewal rate and improving credit metrics across the portfolio [66][68] Question: What drove the timing of the Post Acute Medical lease extension? - The extension was driven by a proactive approach and a strong relationship with the tenant, providing certainty for both parties [76][78] Question: What is the outlook for the Stoughton facility? - The facility has flexibility for various uses, with interest in both residential and healthcare options, and management is focused on maximizing outcomes [91][92] Question: Where are the best acquisition opportunities currently? - Attractive opportunities are seen in inpatient rehab and outpatient medical facilities, with a focus on pricing and tenant credit [94]