NET Power (NYSE:NPWR) Q4 2025 Earnings call March 10, 2026 08:30 AM ET Company ParticipantsBetty Jiang - Managing DirectorBryce Mendes - Director of Investor RelationsDanny Rice - CEOMarc Horstman - President and COOMartin Malloy - Director of Equity ResearchNate Pendleton - VP of Sales and TradingConference Call ParticipantsNoel Parks - Managing Director and Energy Research AnalystWade Suki - Senior Equity Research AnalystOperatorGreetings, welcome to NET Power Inc. fourth quarter 2025 earnings conference ...

Financial Data and Key Metrics Changes - Stagwell reported a 6% growth in 2025, driven by a 13% increase in digital transformation and a 6% increase in marketing services [3] - Adjusted EBITDA for 2025 was $422 million, with a margin of 17.4%, and excluding advocacy, it increased 15.9% to $377 million [9][22] - Free cash flow more than doubled to $187 million in 2025, representing nearly 45% conversion of adjusted EBITDA [10][25] Business Line Data and Key Metrics Changes - The Marketing Cloud segment exceeded $105 million in revenue, growing 34% organically for the full year, with 41% organic growth in Q4 [6] - Digital transformation and marketing services showed organic growth of 9% and 5% respectively, indicating strong market share acquisition [4] - The marketing cloud grew 230% or 34.3% organically, reflecting increased adoption of its product suite [20] Market Data and Key Metrics Changes - The company expects approximately 10% net revenue growth in 2026, primarily organic, driven by political increases and new business [4] - The media segment is anticipated to return to high single-digit organic growth, supported by new media technology products [8] - The top 25 customers grew 20% year-over-year, representing 29% of total revenue [6] Company Strategy and Development Direction - Stagwell is focusing on accelerated organic growth, market share expansion, and advanced AI applications [3] - The company is pivoting towards AI application development, slowing down planned acquisitions to allocate capital effectively [5] - A significant buyback program has been announced, reflecting confidence in the company's valuation and future growth potential [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong double-digit growth for digital transformation in 2026, driven by increased AI investments [30] - The upcoming political super cycle is expected to generate significant advocacy revenue, with a strong interest in the midterm elections [37] - The company is positioned to benefit from instability among competitors, leading to increased client turnover and organic growth opportunities [50] Other Important Information - The company has implemented significant changes in operations, focusing on technology-led models to improve efficiency and scalability [24] - Capital expenditures in 2025 were directed towards systems and platforms that enhance efficiency, with expectations for consistent levels in 2026 [26] - The company has reduced its share count significantly, enhancing its equity profile and commitment to returning capital to shareholders [27] Q&A Session Summary Question: Confidence in digital transformation growth continuation - Management expects even stronger double-digit growth in digital transformation for 2026, driven by AI investments and system integrations [30] Question: Revenue growth and EBITDA contribution from new products - Initial revenue expectations for new products are around $25 million in the first year, with potential for significant growth thereafter [33] Question: Creative pacing amid AI disruption - Premium creative remains in high demand, with agencies like Anomaly and 72andSunny achieving record revenues [35] Question: Advocacy trends for 2026 - Early trends indicate a strong political season ahead, with significant expenditures expected in the upcoming midterm cycle [37] Question: Potential for cost-cutting and efficiencies - The company is on track to achieve additional cost savings, with potential upside not fully reflected in current budget guidance [41] Question: Doubling of free cash flow in 2025 - Actions taken included establishing a shared service platform and improving working capital management, contributing to the doubling of free cash flow [44] Question: Competitive environment post-merger of competitors - Increased instability among competitors is benefiting Stagwell, allowing for larger pitches and client turnover [50] Question: Expectations for share repurchase strategy - The buyback is expected to be more aggressive than in previous years, focusing on achieving fair valuation for the stock [51]

NET Power (NYSE:NPWR) Q4 2025 Earnings call March 10, 2026 08:30 AM ET Company ParticipantsBetty Jiang - Managing DirectorBryce Mendes - Director of Investor RelationsDanny Rice - CEOMarc Horstman - President and COOMartin Malloy - Director of Equity ResearchNate Pendleton - VP of Sales and TradingConference Call ParticipantsNoel Parks - Managing Director and Energy Research AnalystWade Suki - Senior Equity Research AnalystOperatorGreetings, welcome to Net Power Inc. fourth quarter 2025 earnings conference ...

Andrew Brackmann - Equity Research Analyst Bill Bonello - Senior Research Analyst Dan Brennan - Senior Equity Research Analyst and Managing Director Kyle Mikson - Managing Director and Senior Research Analyst Mark Massaro - Managing Director and Senior Equity Research Analyst Matthew Parisi - Research Analyst Operator Welcome to Exagen Incorporated's fourth quarter 2025 earnings call. This time, all participants are in listen- only mode. A question and answer session will follow the formal presentation. If ...

Financial Data and Key Metrics Changes - In Q4 2025, net product revenues were $22.3 million, up from $16.4 million in Q4 2024, indicating a strong performance [21] - For the full year 2025, net product revenues reached $73.6 million, compared to $69.3 million in 2024, showing stability in revenue generation [21] - Total operating expenses for Q4 2025 were $41 million, while for the full year, they were $202.9 million, reflecting a disciplined approach to cost management [21][22] - The net loss for Q4 2025 was $6.4 million, significantly reduced from a loss of $30.7 million in Q4 2024 [22][23] Business Line Data and Key Metrics Changes - The focus on ZYNLONTA has led to a refined go-to-market model, maintaining its position in the third-line plus DLBCL setting despite increased competition from bispecific therapies [5][6] - The company anticipates significant growth opportunities in the second-line plus DLBCL setting with LOTIS-5, expecting to share top-line data in Q2 2026 [8][10] Market Data and Key Metrics Changes - The treatment landscape for DLBCL is evolving, with a current 60/40 split between complex therapies and broadly accessible therapies, impacting market dynamics [15] - The company estimates that achieving a 10% market share in the second-line setting could translate to an additional $200 million to $300 million in revenue [20] Company Strategy and Development Direction - The strategic plan focuses on optimizing lifecycle management for ZYNLONTA, including advancing LOTIS-5 and initiating LOTIS-7 [5][6] - The company aims to establish ZYNLONTA as a backbone therapy in DLBCL, targeting peak annual revenues of $600 million to $1 billion with regulatory approvals and compendia listings [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's path forward, highlighting a strengthened balance sheet and a cash runway expected to last into 2028 [10][24] - The anticipated data catalysts in 2026 are expected to drive significant long-term growth, particularly with the LOTIS-5 and LOTIS-7 trials [25][26] Other Important Information - The company has successfully reduced its operating cost structure by approximately 50%, enhancing its strategic flexibility [5][6] - The amendment to the royalty purchase agreement with HealthCare Royalty reflects the company's confidence in ZYNLONTA's long-term value [9][10] Q&A Session Summary Question: How are PFS events tracking for LOTIS-5? - Management is confident in the Q2 timing for the top-line readout and will share primary and secondary endpoints at that time [29][30] Question: Is the $200-$300 million opportunity for LOTIS-5 conservative? - Management believes the profile seen in the safety run-in supports a meaningful role in the second-line plus DLBCL market, with potential for higher peak sales depending on clinical outcomes [34][35] Question: What is the expected R&D spend moving forward? - R&D expenses are expected to decrease in 2026 and 2027, assuming the current number of trials remains stable [42][44] Question: How will capital allocation priorities be managed? - The company is focused on driving ZYNLONTA growth and has allocated capital for ongoing trials and pre-launch activities [48][50] Question: What is the current commercial run rate for ZYNLONTA? - The company has maintained its market share despite increased competition, with expectations for significant sales growth following LOTIS-5 approval [58][59]

ABM Industries (NYSE:ABM) Q1 2026 Earnings call March 10, 2026 08:30 AM ET Company ParticipantsDavid Orr - EVP and CFOKaran Singhania - Senior ManagerPaul Goldberg - Senior VP of Investor RelationsScott Salmirs - President and CEOTim Mulrooney - Partner and Group Head of Global ServicesConference Call ParticipantsDavid Silver - Managing Director and Senior AnalystJasper Bibb - VP and Senior Equity AnalystMarc Riddick - Senior Equity AnalystRohan Vasudeva - Equity Research AnalystOperatorGreetings. Welcome t ...

Inspired Entertainment (NasdaqCM:INSE) Q4 2025 Earnings call March 10, 2026 08:30 AM ET Company ParticipantsBrooks Pierce - President and CEOChad Beynon - Md and Head of U.S. Consumer ResearchEric Allen - SVP and Chief Accounting OfficerLorne Weil - Executive ChairmanConference Call ParticipantsBarry Jonas - Md and Senior Gaming AnalystJordan Bender - Senior Equity Research AnalystJosh Nichols - Senior Research Analyst in the Discovery GroupRyan Sigdahl - Md and Senior Equity Research AnalystOperatorGood mo ...

Arq (NasdaqGM:ADES) Q4 2025 Earnings call March 10, 2026 08:30 AM ET Company ParticipantsAnthony Nathan - Head of Investor RelationsRobert Rasmus - President, CEO and DirectorStacia Hansen - Chief Accounting OfficerConference Call ParticipantsAaron Spychalla - Senior Research AnalystGerard Sweeney - Managing Director and Senior Research AnalystJason Tilchen - Director and Senior Equity Research AnalystPeter Gastreich - Managing Director, Senior Energy Transition and Sustainability AnalystOperatorGreetings, ...

Arq (NasdaqGM:ADES) Q4 2025 Earnings call March 10, 2026 08:30 AM ET Company ParticipantsAnthony Nathan - VP FinanceBob Rasmus - CEOPeter Gastreich - Managing Director, Natural ResourcesStacia Hansen - Chief Accounting OfficerConference Call ParticipantsAaron Spychalla - Senior Research AnalystGerard Sweeney - Managing Director and Senior Research AnalystJason Tilgen - AnalystOperatorGreetings, and welcome to the Arq fourth quarter 2025 earnings call. At this time, all participants are in a listen-only mode ...

Financial Data and Key Metrics Changes - Q4 revenue reached $48.5 million, a 10.6% increase year-over-year, with an operating loss of $10.6 million resulting in a loss of $0.45 EPS [5][7] - Full year revenue for 2025 was $191.2 million, with over $30 million from new products, marking a 16.2% year-over-year growth, leading to a full year operating loss of $5.9 million and a loss of $0.35 EPS [5][6] - Consolidated gross profit was $12.1 million, up 13.7% from the previous year, with a gross margin of 24.9%, a 70 basis point improvement [9][10] Business Line Data and Key Metrics Changes - Battery and energy product segment revenues were $45.9 million, a 15.1% increase year-over-year, with organic growth driven by a 39.6% increase in medical and a 20.4% increase in industrial and other commercial sectors [7][8] - Communications Systems segment revenues declined to $2.6 million, a 35.2% decrease from the previous year, primarily due to delayed orders [8][9] Market Data and Key Metrics Changes - The sales split for the battery business was 73% commercial and 27% government defense, compared to 70% and 30% respectively in the previous year [8] - The backlog at the end of Q4 was $110.2 million, a 22.1% increase from the previous quarter, representing 58% of trailing twelve months sales [9][10] Company Strategy and Development Direction - The company aims to improve the profitability of its Communications Systems business and enhance gross margins in the battery and energy segment [16][17] - Strategic initiatives include transitioning to a unified brand, consolidating operations, and focusing on vertical integration opportunities following the acquisition of Electrochem [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in 2026, citing a healthy backlog and several new product launches [6][25] - The company is targeting organic growth rates of at least double GDP and aims for EBITDA margins greater than 10% in the short term [27][28] Other Important Information - The company completed its ERP transition and operational initiatives to reduce costs during 2025 [5][6] - The transition of various sub-brands to the Ultralife master brand is expected to streamline operations and reduce costs [19][25] Q&A Session Summary Question: Growth and Margin Expansion Goals - Management indicated a roadmap to achieve organic growth and aims for a minimum of 2x GDP growth, targeting over 10% EBITDA margins in the short term [27] Question: Baseline Revenue for Communications Systems - Baseline revenue for the Communications Systems business is defined as $25 million, with potential for larger orders in the future [29] Question: Medical Order Ramp-Up - A new medical order is expected to generate a six-figure revenue stream annually, with initial product launches beginning soon [30][31]