Financial Data and Key Metrics Changes - The company reported a 3.7% year-on-year increase in revenue for Q1 2025, driven by strong performance in the HVAC segment and recent acquisitions [8][13] - Adjusted EBITDA grew by 12% year-on-year, with a margin expansion of 150 basis points [6][8] - Adjusted EPS increased by 10% to $1.38 for the quarter [13][17] - The full year adjusted EPS guidance was raised to a range of $6.1 to $6.4, reflecting a year-on-year growth of 12% at the midpoint [17][18] Segment Performance Changes - In the HVAC segment, revenues grew by 6.8% year-on-year, with organic growth of 4.4% driven by the heating platform [13][14] - The Infection and Measurement segment saw a 2% decline in revenues year-on-year, with an organic decline of 6.9%, partially offset by a 5.2% increase from the acquisition of KTS [15][16] - Segment backlog for HVAC was $451 million, up approximately 3% from Q4, while the Infection and Measurement segment backlog was $346 million, up 56% sequentially from Q4 [14][16] Market Data and Key Metrics Changes - The company noted a healthy backlog for highly engineered solutions in the HVAC segment, with strong demand in healthcare and institutional markets [21][22] - The Detection and Measurement segment is experiencing steady run rate demand, with regional variations noted, particularly stronger in the U.S. compared to Europe and Asia [21][48] Company Strategy and Industry Competition - The acquisition of Sigma and Omega is expected to enhance the HVAC segment's value proposition and expand the addressable market, particularly in multi-story buildings [10][11][22] - The company aims to leverage its existing U.S. facilities to increase sales to U.S. customers with minimal additional capital investment [12][22] - The company believes it is less cyclical than most industrial tech companies due to diverse end market drivers and a high level of replacement revenue [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties and highlighted a strong start to 2025 [22] - The company is optimistic about data center opportunities and new product initiatives in the HVAC segment [21][22] - Management acknowledged potential impacts from tariffs but indicated that they are well-positioned to manage these challenges [18][20] Other Important Information - The company ended Q1 with cash of $182 million and total debt of $960 million, resulting in a leverage ratio of approximately 1.6 times [16] - Adjusted free cash flow for Q1 was approximately $36 million [17] Q&A Session Summary Question: What is the gross and net tariff impact for the year? - Management indicated a tariff impact of approximately $0.08 to $0.12 on adjusted EPS, translating to a net cost of about $6 million at the midpoint [28][29] Question: How does the Sigma and Omega acquisition fit into growth rates and EBITDA margins? - Management expressed confidence in the acquisition, noting it complements existing products and has strong growth potential, with EBITDA margins slightly lower than the HVAC segment average [29][31] Question: How has order growth progressed through Q1 into Q2 amid tariff uncertainty? - Management reported steady demand across segments, with no significant changes attributed to tariff-related uncertainty [41][42] Question: What is the visibility for multi-year growth with Ingenia? - Management projected Ingenia's revenue capacity to reach $140 million by the end of the year, with high demand for its unique product offerings [52][54] Question: What is driving the growth in the Detection and Measurement segment? - Management noted strong demand driven by various applications, including military and government spending, contributing to the segment's growth [73][76]

Financial Data and Key Metrics Changes - Total revenue grew by 25% to $690 million, driven by organic revenue growth of 12.9% and contributions from M&A adding 13 percentage points [23][4][3] - Adjusted EBITDAC increased by 27.5% to $200 million, with the adjusted EBITDAC margin expanding by 60 basis points to 29.1% [24][4] - Adjusted earnings per share rose by 11.4% to $0.39, while there was a GAAP net loss of $4 million due to a nonrecurring deferred tax expense [24][25] Business Line Data and Key Metrics Changes - The casualty specialty experienced strong growth with high renewal retention and new business, particularly in habitational risks, transportation, construction, and healthcare [14][16] - The property specialty showed modest growth despite a challenging environment, with continued pricing declines but high renewal retention [12][13] - The delegated authority specialty had a strong start in 2025, driven by top-tier talent and expanding product offerings [17] Market Data and Key Metrics Changes - The E&S market is expected to grow in importance, with risks moving into this market due to its ability to offer solutions for complex risks [9][10] - The company noted a robust flow of business into the specialty channels, particularly in casualty, indicating strong market demand [31][9] Company Strategy and Development Direction - The company aims to continue delivering innovative solutions, executing its M&A strategy, and increasing profitability while investing in its platform [7][5] - The focus on M&A has significantly expanded the total addressable market and enhanced capabilities to serve clients [5][19] - The company is committed to balancing investments in talent and technology with margin expansion [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainty around global trade and economic health, but expressed confidence in navigating challenges due to a diversified business model [6][7] - The company expects to maintain strong organic growth and profitability despite potential headwinds in the property market [7][24] Other Important Information - The acquisition of USQ Risk is expected to add approximately $11 million in annualized revenue and enhance capabilities in alternative risk offerings [19][24] - The company plans to continue monitoring macroeconomic conditions closely for any potential impacts on business [27] Q&A Session Summary Question: Can you discuss the sustainability of upper single-digit inorganic revenue growth? - Management indicated a robust M&A pipeline with strong double-digit flow in specialty channels, remaining optimistic about future opportunities [31] Question: How might the USQ Risk acquisition scale up in revenue? - Management emphasized the strategic nature of the acquisition and the potential for significant organic growth through new talent and capabilities [34][36] Question: What are the technology investments contributing to growth? - Management highlighted efforts to streamline workflows and experiment with AI solutions to enhance operational efficiency [42] Question: What are the expectations for property growth in Q2? - Management acknowledged Q2 as a challenging comp but expects modest growth in property despite rate deceleration [46][73] Question: How is the M&A pipeline looking? - Management confirmed a robust pipeline with opportunities across small, medium, and large deals, maintaining a focus on strategic fit [75][78] Question: What is the outlook for construction and economic pressures? - Management reported strong construction results with no noticeable changes in the market, indicating continued strength in this area [59] Question: How is the company taking share in the submission flow? - Management noted a double-digit increase in submission flow and opportunities for growth through brokerage consolidation [62]

Pros (PRO) Q1 2025 Earnings Call May 01, 2025 04:45 PM ET Company Participants Belinda Overdeput - Senior Director - IRAndres Reiner - President and CEOStefan Schulz - CFOScott Berg - Managing DirectorMatthew Kikkert - Equity Research AssociateNehal Chokshi - Managing Director Conference Call Participants Zane Meehan - Associate Analyst, Equity Research Operator Welcome to the PROS Holdings First Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A ...

Financial Data and Key Metrics Changes - Total revenue grew by 25% to $690 million, driven by organic revenue growth of 12.9% and contributions from M&A adding 13 percentage points [22][4] - Adjusted EBITDAC increased by 27.5% to $200 million, with an adjusted EBITDAC margin expanding by 60 basis points to 29.1% [22][4] - Adjusted earnings per share rose by 11.4% to $0.39, while a GAAP net loss of $4 million was reported due to a nonrecurring tax expense [22][23] Business Line Data and Key Metrics Changes - The casualty specialty experienced strong growth with high renewal retention and new business, particularly in habitational risks, transportation, construction, and healthcare [14][15] - The property specialty showed modest growth despite pricing declines, with expectations for continued competitive rates in the near term [12][13] - The delegated authority specialties, including binding and underwriting management, reported strong organic growth, particularly in casualty and transactional liability, with significant contributions from recent acquisitions [16][17] Market Data and Key Metrics Changes - The E&S market is expected to grow in importance, with risks moving into this market due to its ability to offer solutions for complex risks [9][10] - The company noted a robust flow of business into the specialty channels, particularly in casualty, with property also showing surprising strength [30][31] Company Strategy and Development Direction - The company aims to continue delivering innovative solutions, executing its M&A strategy, and increasing profitability while investing in its platform [7][5] - The focus remains on expanding the total addressable market through acquisitions and enhancing capabilities to serve clients [5][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased uncertainty around global trade and economic health, but expressed confidence in navigating challenges due to a diversified business model [6][7] - The company expects to maintain strong organic growth and profitability, driven by its strategic positioning in the specialty insurance market [7][19] Other Important Information - The acquisition of USQ Risk is expected to add approximately $11 million in annualized revenue and enhance the company's capabilities in alternative risk offerings [18] - The company plans to continue monitoring macroeconomic conditions closely for potential impacts on its business [26] Q&A Session Summary Question: Can you discuss the sustainability of upper single-digit inorganic revenue growth? - Management indicated a robust M&A pipeline with strong double-digit business flow, particularly in specialty channels, and expressed optimism for future opportunities [30][31] Question: How might the USQ Risk acquisition scale up in revenue? - Management emphasized the strategic nature of the acquisition and the potential for significant organic growth through new talent and capabilities [32][34] Question: What technology investments are being made to enhance growth and efficiency? - The company is focused on streamlining workflows and experimenting with AI solutions to improve operational efficiency and reduce cycle times [40][41] Question: What are the expectations for property growth in the upcoming quarters? - Management expects modest growth in property despite headwinds, with Q2 being a challenging comp due to previous strong performance [45][70] Question: How is the M&A pipeline looking currently? - The company has a robust pipeline of small, medium, and large deals, with a willingness to temporarily exceed leverage comfort for the right opportunities [73][76] Question: What is the outlook for construction and economic pressures? - Management reported strong construction results with no noticeable changes in the market, indicating continued strength in infrastructure and residential construction [59] Question: How is the company taking share in the submission flow? - Management noted a double-digit increase in submission flow and highlighted opportunities in the consolidation of brokerage intermediaries [61][62]

Grid Dynamics (GDYN) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Cary Savas - Director - Branding and CommunicationsLeonard Livschitz - CEOVasily Sizov - SVP & Head of AmericasEugene Steinberg - Chief Technology OfficerAnil Doradla - CFOBryan Bergin - Managing DirectorPuneet Jain - Associate - Equity ResearchNone - Executive Conference Call Participants Mayank Tandon - Senior AnalystMaggie Nolan - Research Analyst - Technology, Media & Communications Cary Savas Good afternoon, everyo ...

Zeta Global (ZETA) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Matthew Pfau - SVP - Investor RelationsDavid Steinberg - Co-Founder, Chairman & Chief Executive OfficerChristopher Greiner - Chief Financial OfficerTerry Tillman - Managing DirectorArjun Bhatia - Co-Group Head - Technology, Media & CommunicationsMatthew Swanson - Director - Equity ResearchJackson Ader - Managing DirectorKoji Ikeda - Director - Enterprise Software Equity Research Conference Call Participants Jason Kreyer - ...

Financial Data and Key Metrics Changes - Collaboration revenue from the Kyowa Kirin partnership for Q1 2025 was $14.1 million compared to no revenue in Q1 2024 [20] - Research and development expenses for Q1 2025 were $56 million compared to $36.3 million for Q1 2024 [20] - General and administrative expenses for Q1 2025 were $22.8 million compared to $18.2 million for the same period in 2024 [20] - Net loss for Q1 2025 was $57.4 million compared to a net loss of $49.5 million for Q1 2024 [20] - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments of $658.2 million compared to $727.4 million as of December 31, 2024 [21] Business Line Data and Key Metrics Changes - The Ziftamenib development program achieved its primary CRCRH endpoint in the Phase II trial for relapsed/refractory NPM1 mutant AML, with data to be presented at the 2025 ASCO Annual Meeting [11][12] - The company announced the first patients with advanced gastrointestinal stromal tumors (GIST) were dosed with the combination of Ziftamenib and imatinib [8] Market Data and Key Metrics Changes - The company is focusing on the NPM1 mutant AML market, which represents approximately 30% of new AML cases annually, indicating a significant unmet need [10] - The company is also targeting advanced GIST patients, where current treatment options are limited [15] Company Strategy and Development Direction - The company aims to commercialize Ziftamenib in acute myeloid leukemia (AML) and is preparing for multiple clinical data updates throughout the year [6][7] - The strategic partnership with Kyowa Kirin is expected to provide greater development, commercial, and operational resources, enhancing financial stability [19] - The company plans to initiate the COMMENT-seventeen Phase III trials in the second half of 2025, focusing on both intensive and non-intensive treatment regimens for AML [14][23] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the potential for Ziftamenib to impact patients with relapsed/refractory NPM1 mutant AML, citing a collaborative relationship with the FDA [10] - The company is monitoring the macro landscape and believes the impact from tariffs will be negligible [19] Other Important Information - The company has a strong cash position, with sufficient capital to fund the Ziftamenib AML program to commercialization and advance its pipeline [21] - The company is preparing for upcoming milestones, including presentations at major oncology meetings and the initiation of new trials [23] Q&A Session Summary Question: Expectations for combo data coming later this year - Management emphasized safety as the top priority for the combination data and confirmed they are on track to start the study in the second half of 2025 [26][29] Question: Impact of regulatory changes on approval process - Management stated there have been no disruptions from regulatory changes and they expect to receive notification from the FDA regarding the application review in the second quarter [33][36] Question: Market share strategy for NPM1 market - Management believes they are not necessarily second to market and are prepared to compete aggressively for patients [66][70] Question: Patient segments responsive to GIST combination - The combination approach is expected to be mutationally agnostic, potentially benefiting both imatinib-refractory and naive patients [74][75] Question: Enrollment timeline for pivotal trials - Management indicated that there should not be a drag on enrollment for frontline trials, as no menin inhibitor is currently approved for that patient population [114][116]

Trupanion (TRUP) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Gil Melchior - Director of Investor RelationsMargi Tooth - President and CEOFawwad Qureshi - Chief Finance OfficerJonathan Block - Managing DirectorWilma Burdis - Director Conference Call Participants Brandon Vazquez - Research AnalystJohn Barnidge - Managing Director & Senior Research AnalystKatie Sakys - Equity AnalystJoshua Shanker - Analyst Operator Good day, and welcome to the Trupanion First Quarter twenty twenty five ...

Frontier Group Holdings (ULCC) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants David Erdman - Senior Director-Investor RelationsBarry Biffle - CEO, President & DirectorJames Dempsey - PresidentRobert Schroeter - Sr VP, Chief Commercial OfficerMark Mitchell - Senior VP & CFOMichael Linenberg - Managing DirectorSavanthi Syth - MD - Airlines & Advance Air MobilityTom Fitzgerald - VP - Equity ResearchJames Baker - Managing Director & Investment SpecialistDuane Pfennigwerth - Senior Managing ...

Financial Data and Key Metrics Changes - IDACORP's diluted earnings per share increased to $1.1 from $0.95 in the first quarter of the previous year [5] - Net income rose by $11.4 million compared to the first quarter last year, primarily driven by higher retail revenues and incremental tax credits [19] - The company reaffirmed its full-year diluted earnings per share guidance range of $5.65 to $5.85 [5][36] Business Line Data and Key Metrics Changes - Retail customer growth was reported at 2.6%, with residential customer growth at 2.9% [6] - Retail revenues per megawatt hour increased, contributing an additional $11.3 million to operating income [20] - Other operating and maintenance expenses rose by $7.2 million, largely due to wildfire mitigation program costs [21] Market Data and Key Metrics Changes - The five-year forecast for retail sales growth is projected at 8.3% annually, necessitating additional system investments [9] - The company expects good hydropower generation in 2025, ranging from 7 million to 8.5 million megawatt hours [38] Company Strategy and Development Direction - The company is focused on executing infrastructure projects to meet customer demand, with significant investments planned [10][27] - IDACORP is actively monitoring tariffs and regulatory changes to ensure affordability for customers [13] - A general rate case is planned to recover substantial capital investments, with rates expected to be effective no earlier than January 2026 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in customer growth and economic expansion within Idaho Power's service area [6] - The company is committed to maintaining a strong balance sheet while targeting a 50/50 debt-equity capital ratio [29] - Management highlighted the importance of timely recovery mechanisms for infrastructure investments to reduce regulatory lag [81] Other Important Information - The company is actively engaged in discussions regarding wildfire mitigation plans and legislative changes [16][90] - A significant expansion project by Chobani and a new distribution center by Tractor Supply Company were noted as indicators of strong customer interest [6][8] Q&A Session Summary Question: Changes to wildfire mitigation plans due to new legislation - Management does not anticipate significant changes to the wildfire mitigation program but may make modifications over time [42] Question: Thoughts on rate case mechanisms to improve ROEs - The company is preparing its case and considering options to reduce regulatory lag [44] Question: Impact of chaotic periods on the agricultural community - Management noted it is too early to measure impacts but remains optimistic about agricultural conditions [54] Question: Capacity for proposing multiyear mechanisms to the PUC - Management is open to discussing creative solutions to help with the volume of filings [60] Question: Status of contract negotiations with a data center - Ongoing negotiations are still in progress [78] Question: Timely recovery of transmission project costs - Management is exploring various mechanisms for timely cost recovery [80]