Financial Data and Key Metrics Changes - The annual meeting confirmed the election of seven directors and the ratification of Grant Thornton LLP as the independent registered public accounting firm for the year ending June 30, 2026 [3][11] - The stay-on-pay proposal and the amendment to the 2021 Stock Incentive Plan were also approved, increasing the number of shares available for issuance from 14,450,000 to 21,950,000 [3][11] Business Line Data and Key Metrics Changes - No specific data or metrics regarding individual business lines were discussed during the meeting [3][11] Market Data and Key Metrics Changes - No specific market data or metrics were provided during the meeting [3][11] Company Strategy and Development Direction and Industry Competition - The company is focused on governance through the election of directors and the approval of compensation plans, indicating a commitment to aligning management incentives with shareholder interests [3][11] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [3][11] Other Important Information - The meeting was conducted virtually, and stockholders were encouraged to submit questions through the virtual meeting page [5][10] - The final report of the inspector of elections will be filed with the minutes of the annual meeting [12] Q&A Session All Questions and Answers - No specific questions or answers were recorded during the Q&A session of the meeting [10][12]

Financial Data and Key Metrics Changes - Third quarter 2025 revenue was $12.3 million, down from $15.4 million in the third quarter of 2024, primarily due to the sale of 9 Times Square in the fourth quarter of 2024 [10] - GAAP net gain attributable to common stockholders was $35.8 million in the third quarter of 2025, influenced by a $44.3 million non-cash gain related to the foreclosure at 1140 Avenue of the Americas, compared to a net loss of $34.5 million in the third quarter of 2024 [10] - Adjusted EBITDA for the third quarter of 2025 was $1.9 million, down from $4.1 million in the same quarter of 2024 [10] - Cash net operating income decreased to $5.3 million from $7 million in the third quarter of 2024 [10] Business Line Data and Key Metrics Changes - The company executed a significant lease renewal at 196 Orchard, extending the weighted average remaining lease term of the portfolio to 6.2 years, up from 5.9 years at the end of the second quarter [5] - Near-term lease expirations represent 8% of annualized straight-line rent, with 56% of leases now extending beyond 2030, an increase from 54% last quarter [6] Market Data and Key Metrics Changes - The company owns six properties, with a real estate portfolio valued at approximately $390 million and covering about 743,000 square feet, primarily located in Manhattan [7] - The tenant base includes large investment-grade firms, which is expected to support occupancy growth and tenant retention [7] Company Strategy and Development Direction - The company is focused on unlocking value, diversifying holdings, and strengthening the balance sheet through the sale of properties like 123 Williams Street and 196 Orchard [8] - A strategic disposition of 1140 Avenue Americas is anticipated to close in the fourth quarter of 2025, which is expected to eliminate a $99 million liability [8] - The strategy includes proactive management of the balance sheet and capital allocation towards higher-return assets [8] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of tenant retention, property improvements, and cost efficiency in the current operating environment [5] - The company is focused on enhancing operational flexibility and generating cash for reinvestment into higher-yielding assets [12] Other Important Information - The company has changed its audit partners to CBIZ CPAs to streamline costs and reduce general and administrative expenses [11] - There was no dispute or conflict with the prior accounting firm during the change [11] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session. The call concluded without any detailed inquiries from participants [13]

Financial Data and Key Metrics Changes - Third quarter 2025 revenue was $12.3 million, down from $15.4 million in the third quarter of 2024, primarily due to the sale of 9 Times Square in Q4 2024 [10] - GAAP net gain attributable to common stockholders was $35.8 million in Q3 2025, influenced by a $44.3 million non-cash gain related to the foreclosure at 1140 Avenue of the Americas, compared to a net loss of $34.5 million in Q3 2024 [10] - Adjusted EBITDA for Q3 2025 was $1.9 million, down from $4.1 million in Q3 2024, while cash net operating income decreased to $5.3 million from $7 million in the same period [10][11] Business Line Data and Key Metrics Changes - The company executed a significant lease renewal at 196 Orchard, extending the weighted average remaining lease term of the portfolio to 6.2 years, up from 5.9 years at the end of Q2 2025 [5] - Near-term lease expirations represent 8% of annualized straight-line rent, with 56% of leases now extending beyond 2030, an increase from 54% last quarter [6] Market Data and Key Metrics Changes - The company's real estate portfolio, valued at approximately $390 million and covering about 743,000 sq ft, is primarily located in Manhattan, benefiting from a strong tenant base that includes large investment-grade firms [7] - The focus on resilient industries near transit-oriented locations is expected to support occupancy growth and tenant retention [7] Company Strategy and Development Direction - The company aims to unlock value, diversify holdings, and strengthen its balance sheet by marketing properties like 123 Williams Street and 196 Orchard for sale [8] - The strategic disposition of 1140 Avenue of the Americas is anticipated to eliminate a $99 million liability, aligning with the strategy to manage the balance sheet proactively [8] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of enhancing operational flexibility through the consensual foreclosure of 1140 Avenue of the Americas and ongoing property sales [12] - The focus remains on leasing available space, renewing existing leases, and maintaining strict expense controls [12] Other Important Information - The company has changed its audit partners to CBIZ CPAs to streamline costs and reduce general and administrative expenses, with no disputes with the previous firm [11] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the call concluded without a Q&A segment [13]

Financial Data and Key Metrics Changes - Third quarter 2025 revenue was $12.3 million, down from $15.4 million in the third quarter of 2024, primarily due to the sale of 9 Times Square in Q4 2024 [9] - GAAP net gain attributable to common stockholders was $35.8 million in Q3 2025, influenced by a $44.3 million non-cash gain related to the foreclosure at 1140 Avenue of the Americas, compared to a net loss of $34.5 million in Q3 2024 [9] - Adjusted EBITDA for Q3 2025 was $1.9 million, down from $4.1 million in Q3 2024, while cash net operating income decreased to $5.3 million from $7 million in the same period [9][10] Business Line Data and Key Metrics Changes - The company executed a significant lease renewal at 196 Orchard, extending the weighted average remaining lease term of the portfolio to 6.2 years, up from 5.9 years at the end of Q2 2025 [5] - Near-term lease expirations represent 8% of annualized straight-line rent, with 56% of leases now extending beyond 2030, an increase from 54% last quarter [6] Market Data and Key Metrics Changes - The real estate portfolio, excluding the property expected to be disposed of, is valued at approximately $390 million and spans about 743,000 square feet, primarily located in Manhattan [6] - The tenant base includes large investment-grade firms, contributing to portfolio stability [6] Company Strategy and Development Direction - The company is focused on unlocking value from current assets, emphasizing tenant retention, property improvements, and cost efficiency [5] - Ongoing marketing efforts for the sale of 123 Williams Street and 196 Orchard are aimed at generating cash to retire debt and reinvest in higher-yielding assets [7] - The strategic disposition of 1140 Avenue of the Americas is expected to eliminate a $99 million liability, aligning with the strategy to manage the balance sheet proactively [7] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of operational flexibility through the consensual foreclosure of 1140 Avenue of the Americas and ongoing sales efforts [11] - The focus remains on leasing available space, renewing existing leases, and maintaining strict expense controls [11] Other Important Information - The company has changed its audit partners to CBIZ CPAs to streamline costs and reduce general and administrative expenses [10] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a focus on the presentation rather than an interactive Q&A session.

Financial Data and Key Metrics Changes - The preliminary report indicates that the directors named in the proxy statement have been elected by the stockholders [11] - The appointment of Grant Thornton as the company's independent registered public accounting firm for the year ending June 30, 2026, has been ratified [11] - The stay-on-pay proposal has been approved, indicating stockholder support for executive compensation [11] - The 2021 incentive compensation proposal has been approved, increasing the number of shares available for issuance from 14,450,000 to 21,950,000 [3][11] Business Line Data and Key Metrics Changes - No specific data on individual business lines was provided in the meeting [0] Market Data and Key Metrics Changes - No specific market data or key metrics changes were discussed during the meeting [0] Company Strategy and Development Direction and Industry Competition - The company is focused on enhancing its incentive compensation plan, which may indicate a strategy to attract and retain talent [3][11] - The approval of the increase in shares available for the incentive plan suggests a strategic move to align employee interests with stockholder value [3][11] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting [0] Other Important Information - The meeting was conducted virtually, and stockholders were encouraged to submit questions through the virtual meeting page [5][10] - The meeting concluded with a motion to adjourn, indicating that all business items were addressed [12] Q&A Session Summary - No specific questions or answers were recorded during the meeting, as the focus was on voting and procedural matters [0]

Financial Data and Key Metrics Changes - The company reported a trailing 12-month top-line growth of 12% and a non-GAAP EPS growth of 14%, indicating strong financial performance and operational leverage [26][27]. Business Line Data and Key Metrics Changes - The company launched several new products, including a generative AI product called Dawn and a Compliance Predictor, enhancing its digital health offerings [22][23]. - The company has increased its gross margin by 200-300 basis points year on year, reflecting improved profitability [25]. Market Data and Key Metrics Changes - The company aims to improve the lives of 500 million people by 2030, indicating a strong commitment to expanding its market impact [24]. Company Strategy and Development Direction - The company has restated its 2030 strategy, focusing on product-led, customer-centric, and brand-enhanced growth models [25]. - The company is investing 6-7% of its revenues back into technology development and 19% into sales and marketing to drive demand [27]. Management's Comments on Operating Environment and Future Outlook - Management emphasized the role of artificial intelligence as a tailwind for the company, with ongoing experiments and product launches aimed at improving patient outcomes [22]. - The company has a goal of achieving high single-digit revenue growth annually through 2030, alongside double-digit growth in earnings per share [24]. Other Important Information - The company has engaged in strategic M&A activities, including the acquisition of Ectosense and VirtuOx, to enhance its service offerings in sleep apnea testing [28][29]. Q&A Session Summary Question: How is artificial intelligence a tailwind for the company? - Management highlighted the launch of AI-driven products like Dawn and Compliance Predictor, which enhance patient engagement and improve therapy adherence [22][23].

PACS Group (NYSE:PACS) Q3 2025 Earnings Call November 19, 2025 05:30 PM ET Company ParticipantsBenjamin Rossi - Equity Research AssociateMark Hancock - Interim CFOJason Murray - CEOJosh Jergensen - President and COOConference Call ParticipantsDavid MacDonald - AnalystNone - AnalystOperatorHello, and welcome to PACS Group's Third Quarter 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After today's presentation, there will be an opportunity to ask questions. ...

PACS Group (NYSE:PACS) Q3 2025 Earnings Call November 19, 2025 05:30 PM ET Company ParticipantsBenjamin Rossi - Equity Research AssociateMark Hancock - Interim CFOJason Murray - CEOJosh Jergensen - President and COOConference Call ParticipantsDavid MacDonald - AnalystNone - AnalystOperatorHello, and welcome to PACS Group's third quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After today's presentation, there will be an opportunity to ask questions. ...

PACS Group (NYSE:PACS) Q3 2025 Earnings Call November 19, 2025 05:30 PM ET Speaker4Hello, and welcome to PACS Group's third quarter 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. After today's presentation, there will be an opportunity to ask questions. If you would like to ask a question during that time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star followed by the nu ...

Financial Data and Key Metrics Changes - For Q4 2025, same-store sales for Jack in the Box declined 7.4%, with franchise same-store sales down 7.6% and company-owned same-store sales down 5.3% [19] - Jack restaurant level margin decreased by 240 basis points year-over-year to 16.1%, driven by sales deleverage, commodity inflation of 6.9%, and elevated labor costs [20] - Consolidated adjusted EBITDA for Q4 was $45.6 million, down from $65.5 million in the prior year, primarily due to lower same-store sales [26] - GAAP diluted earnings per share for Q4 was $0.30, compared to $1.12 in the prior year [27] Business Line Data and Key Metrics Changes - Jack in the Box opened 15 restaurants and closed 47 in Q4, ending the year with 2,136 restaurants [19] - Del Taco's system same-store sales declined 3.9%, with company-owned same-store sales down 3.1% and franchise same-store sales down 4.2% [24] - Del Taco restaurant level margin decreased to 6.8% from 9.3% in the prior year, primarily due to transaction declines and inflationary increases in commodities [24] Market Data and Key Metrics Changes - The Chicago market had a -130 basis point drag on overall company restaurant level margin due to elevated labor costs from new restaurant openings [21] - Franchise level margin for Jack in the Box was $62.6 million, or 38.9% of franchise revenues, compared to $70.9 million, or 40.4% a year ago [22] Company Strategy and Development Direction - The company is focused on the "Jack on Track" plan, which aims to simplify the business and strengthen the Jack in the Box brand [8] - The divestiture of Del Taco is a key step to refocus on the Jack in the Box brand and improve operational performance [8] - The company plans to enhance operational excellence and improve food quality, with a focus on consistency across operations [12] Management's Comments on Operating Environment and Future Outlook - Management expects 2026 to be a rebuilding year, with same-store sales returning to positive as operational improvements are implemented [16] - The company anticipates challenges in the first quarter of 2026 but expects improvements in the second quarter, coinciding with the 75th anniversary celebrations [39] - Management has not built in significant macroeconomic tailwinds into their guidance, expecting conditions to remain flat [60] Other Important Information - The company ended the year with total debt of $1.7 billion and a net debt to adjusted EBITDA leverage ratio of six times [28] - Capital expenditures for Q4 were $17.9 million, with cash flows from operations for the quarter at $33.7 million [28] Q&A Session Summary Question: What are the main drivers of improvement in same-store sales for 2026? - Management expects improvements to be driven by a combination of promotional strategies, operational enhancements, and softer comparisons in the second half of the year [39][40] Question: What is the assumption in the current EBITDA guidance regarding real estate sales and closures? - Management confirmed that the guidance includes block closures and anticipates $50 million to $70 million in real estate sales [41][42] Question: How is franchisee sentiment regarding the current competitive environment? - Franchisees are under pressure but remain supportive of the brand, with ongoing conversations to drive business forward [66][70] Question: What are the expectations for G&A expenses in the second half of 2026? - G&A is expected to decrease to approximately 2.3%-2.4% of system-wide sales in the second half as the company right-sizes the business [62] Question: How are value scores trending, and what is the strategy moving forward? - Value scores have improved slightly, and the company aims to maintain consistent value offerings across its menu [84][92]