One Stop Systems (NasdaqCM:OSS) Q4 2025 Earnings call March 18, 2026 10:00 AM ET Company ParticipantsDan Gabel - CFOMike Knowles - President and CEOConference Call ParticipantsBrian Kinstlinger - Director of Research and Senior Technology AnalystEric Martinuzzi - Senior Research AnalystScott Searle - Managing Director and Senior Research AnalystOperatorDay, and welcome to the One Stop Systems, Inc. fourth quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. Later, ...

Valneva (NasdaqGS:VALN) Q4 2025 Earnings call March 18, 2026 10:00 AM ET Company ParticipantsJoshua Drumm - VP of Global Investor RelationsPeter Bühler - CFOThomas Lingelbach - CEOConference Call ParticipantsAmi Fadia - AnalystBrandon Folkes - AnalystDamien Choplain - AnalystMaury Raycroft - AnalystRajan Sharma - AnalystSimon Scholes - AnalystNone - AnalystOperatorGood day, and thank you for standing by. Welcome to Valneva's full year 2025 results and business update conference call and webcast. At this tim ...

Star Equity Holdings (NasdaqGS:HSON) Q4 2025 Earnings call March 18, 2026 10:00 AM ET Company ParticipantsGeorge John Melas-Kyriazi - FounderJake Zabkowicz - Global CEOJeffrey Eberwein - CEOMathew K. Diamond - CFORichard Coleman - COOTheodore O'Neill - CEONone - ShareholderConference Call ParticipantsJoe Gomes - Senior Research AnalystMichael Matson - AnalystOperatorGreetings everyone, and welcome to Star Equity Holdings fourth quarter 2025 financial results conference call. Please be advised that the discu ...

Williams-Sonoma (NYSE:WSM) Q4 2026 Earnings call March 18, 2026 10:00 AM ET Company ParticipantsChuck Grom - Managing DirectorJeff Howie - CFOJeremy Brooks - Chief Accounting Officer and Head of Investor RelationsJonathan Matuszewski - Senior VPKate McShane - Managing DirectorLaura Alber - President and CEOOliver Wintermantel - Managing DirectorYasir Anwar - Chief Technology and Digital OfficerConference Call ParticipantsBrian Nagel - Managing Director and Senior AnalystCristina Fernandez - Managing Directo ...

Financial Data and Key Metrics Changes - Total revenues for Valneva exceeded EUR 170 million, slightly above 2024 levels, with nearly EUR 160 million in product sales [4] - Operating loss reached EUR 82.1 million compared to an operating profit of EUR 13.3 million in 2024, primarily due to non-recurring income from the sale of a priority review voucher in the previous year [20] - The company reported a loss for the period of EUR 115.2 million, with adjusted EBITDA at -EUR 51.4 million [20] Business Line Data and Key Metrics Changes - Total product sales reached EUR 157.9 million, decreasing by 3.3% over 2024, primarily due to planned reductions in third-party sales [15] - IXIARO sales grew to EUR 98.4 million, a 4.6% increase from EUR 94.1 million in 2024, driven by the travel segment [15] - IXCHIQ sales increased significantly to EUR 8.4 million from EUR 3.7 million in the prior year, including the supply of 40,000 doses to La Réunion [16] Market Data and Key Metrics Changes - The company noted a significant reduction in third-party sales from EUR 33.2 million to EUR 19.2 million due to the termination of distribution contracts [16] - Other revenues increased from EUR 6.3 million to EUR 16.8 million, driven by a EUR 10 million revenue recognition related to a license agreement with Pfizer [17] Company Strategy and Development Direction - Valneva aims to become a leading vaccine biotech company by focusing on growing its commercial business and optimizing cash generation [5] - The company is advancing its Lyme disease vaccine candidate, VLA15, which represents a significant opportunity in an underserved market [6] - Valneva plans to expand beyond vector-borne diseases and is exploring in-licensing opportunities to enhance its R&D pipeline [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of the Lyme disease vaccine, with positive phase 3 results expected to be transformational for the company [22] - The company anticipates total product sales in 2026 to be between EUR 145 million and EUR 160 million, reflecting further planned reductions in third-party product sales [20] - Management emphasized the importance of cash management and reducing operating cash burn as key focuses moving forward [20] Other Important Information - Valneva achieved a more than 20% reduction in operating cash burn through disciplined cash management [5] - The company is investing in the further development of IXCHIQ and has initiated a pilot vaccination campaign in Brazil [10] Q&A Session Summary Question: When will Lyme data be available? - Management indicated that Pfizer controls the phase 3 study and expects data in the first half of 2026, with hopes for mid-H1 results [28] Question: What is the confidence level regarding VLA15's efficacy across different serotypes? - Management stated that preclinical models have shown promising results, but human data is still needed to confirm efficacy across serotypes [32] Question: What is the status of the DoD contract for IXIARO? - Management confirmed that a new contract is expected this year, and it is included in the revenue guidance for 2026 [63] Question: What are the criteria for ACIP recommendations for VLA15? - Management noted that ACIP recommendations depend on safety and efficacy data, with a focus on high-risk populations [44] Question: What are the next steps for IXCHIQ in Asia? - Management is evaluating potential partners and commercialization strategies for IXCHIQ in Asia, with announcements expected later this year [68]

Financial Data and Key Metrics Changes - In Q4 2025, revenue grew by 69% compared to Q4 2024, gross profit increased by 38%, and adjusted EBITDA surged by 156% to $2.2 million [4] - For the full year 2025, revenue increased by 23% compared to 2024, gross profit rose by 14%, and adjusted EBITDA grew from $0.9 million to $4.2 million [4] - On a pro forma basis, full year revenue reached approximately $225 million, a 7% increase, gross profit grew to approximately $95 million, a 6% increase, and adjusted EBITDA almost tripled to $12.6 million [4][5] Business Line Data and Key Metrics Changes - The business services segment achieved a 3% increase in gross profit in Q4 2025 compared to Q4 2024, while full year gross profit increased by 2% [6] - The building solutions segment reported Q4 2025 revenue of $18 million, gross profit of $4.6 million, and adjusted EBITDA of $1.9 million [9] - For the full year 2025, building solutions revenue was $27.6 million, gross profit was $6.3 million, and adjusted EBITDA was $2.5 million [9] - The energy services division reported Q4 2025 revenue of $3.6 million, gross profit of $1.6 million, and adjusted EBITDA of $0.9 million [11] Market Data and Key Metrics Changes - The APAC and Americas regions delivered strong performances in the business services segment, with gross profit increases of 11.7% and 4.4% respectively, while EMEA experienced an 18.7% decline [6] - The building solutions backlog as of December 31, 2025, was $9.6 million, with a trailing twelve-month book-to-bill ratio of 0.89 [9] Company Strategy and Development Direction - The company is focused on driving organic growth, improving operational efficiency, and maintaining a rigorous approach to capital allocation [15] - Strategic investments are being made to accelerate future growth while realizing cost efficiencies through operational improvements [7] - The company plans to deepen its presence in core markets while thoughtfully entering new markets with attractive long-term demand [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook and believes the stock is undervalued, highlighting the strength of the business and future opportunities [14] - The company anticipates a gradual recovery in the U.S. home construction market in 2026, driven by long-term housing shortages and favorable demographics [10] - Management acknowledged that Q1 2026 is expected to be the weakest quarter of the year, but they are optimistic about significant improvements in the following quarters [29] Other Important Information - The company ended 2025 with $13.4 million in cash, including restricted cash, and $215 million of usable NOL carryforwards [5] - The company repurchased over $2.6 million of its stock in 2025 and plans to continue using share repurchases to enhance shareholder value [14] Q&A Session Summary Question: Impact of backlog drop from Q3 to Q4 - Management indicated that there is some seasonality to the backlog drop and that weather and financing issues have also played a role [18][19] Question: Update on M&A activity - Management confirmed ongoing discussions regarding acquisition opportunities across all three divisions, with expectations to finalize one or more by the end of the year [21][22] Question: Performance expectations for Q4 results - Management stated that Q4 results were roughly in line with expectations but noted weaknesses in the EMEA region and building solutions due to weather and project delays [28][29] Question: Organic growth excluding Japanese acquisition - Management indicated that the Japanese acquisition had minimal impact on FY 2025 revenue, and organic growth strategies are expected to continue [63] Question: Cash taxes expectations for 2026 - Management noted that cash taxes are difficult to predict but expect to pay modest amounts based on international operations and statutory rates [69][73]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported net revenues of $2.36 billion, achieving a positive comp of 3.2% [30] - The full-year 2025 net revenues reached $7.8 billion, with a comp of 3.5% [33] - Operating margin for Q4 was 20.3%, down 120 basis points year-over-year, while the full-year operating margin finished at 18.1%, a decrease of 50 basis points [32][36] - Diluted earnings per share for Q4 were $3.04, and for the full year, it was a record $8.84, up 1% year-over-year [36] Business Line Data and Key Metrics Changes - Williams Sonoma brand achieved a 7.2% comp in Q4 and a 6.9% comp for the full year [22] - Pottery Barn had a disappointing Q4 with a -2.3% comp but finished the year with a positive 0.4% comp [17] - Pottery Barn Kids delivered a strong 4% comp in Q4 and a 4.4% comp for the full year [18] - West Elm reported a 4.8% comp in Q4 and a 2.9% comp for the full year [19] Market Data and Key Metrics Changes - The retail channel saw a 4.3% comp increase in Q4, while e-commerce grew by 2.6% [30] - For the full year, retail increased by 6.4% and e-commerce by 2.2%, with e-commerce accounting for over 65% of total revenues [33] Company Strategy and Development Direction - The company plans to focus on "Accelerating Growth," delivering world-class customer service, and driving earnings in 2026 [11] - Key growth areas include brand growth, product pipeline, brand heat, and channel experience [12] - The company aims to expand its retail presence with 20 new store openings and 19 repositionings in 2026 [42][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the uncertain macroeconomic and tariff environment, expecting comp brand revenue growth of 2%-6% for 2026 [39] - The company anticipates operating margins in the range of 17.5%-18.1% for 2026, reflecting the impact of tariffs [39][40] - Management highlighted the importance of AI in enhancing customer experience and operational efficiency [10] Other Important Information - The company generated over $1.3 billion in operating cash flow in fiscal year 2025 and returned nearly $1.2 billion to shareholders [37] - The board of directors authorized a 15% increase in the quarterly dividend to $0.76 per share [44] Q&A Session Summary Question: Opportunities for store growth in 2026 and B2B expansion - Management indicated a pivot towards store growth with plans for 20 new stores and 18 repositionings, highlighting the potential for B2B growth as a significant opportunity [46][57] Question: Changes in Design Services 3.0 - Management discussed enhancements in design services, particularly through AI integration to improve customer engagement and service [63][66] Question: Impact of winter storms on quarter-to-date trends - Management acknowledged some disruption from winter storms but stated it did not materially impact results, with consumer resilience noted [70] Question: Real estate strategy and occupancy costs - Management emphasized growth opportunities through retail repositioning and new store openings, indicating that occupancy costs would not significantly impact operating margins [73][75] Question: Performance of Pottery Barn in Q4 - Management noted that the disappointment in Pottery Barn's Q4 performance was due to a lack of newness and pricing strategies, with expectations for improvement in the first quarter [79]

Financial Data and Key Metrics Changes - Backlog reached a record $19.9 million, an increase of $12.4 million and 165% year-over-year [10] - Pipeline expanded to $163.9 million, up $74.7 million and 84% year-over-year [10] - Revenue for Q3 2026 was $0.5 million, down from $0.8 million in Q3 2025; revenue for the nine months ended January 31, 2026 was $2.1 million, down from $4.5 million in the prior year [11] - Gross profit for Q3 2026 was a loss of $0.8 million compared to a profit of $0.2 million in Q3 2025 [12] - Net losses for the three and nine months ended January 31, 2026 were $11.4 million and $29.6 million respectively, compared to $6.7 million and $15.1 million in the prior year [13][14] Business Line Data and Key Metrics Changes - Significant portion of the backlog is associated with defense and security programs, reflecting growing engagement with government and commercial customers [4] - The company is advancing its integrated autonomous docking and charging solution, targeting a commercial launch in 2026 [6] Market Data and Key Metrics Changes - The company is expanding its global operational footprint, with shipments to Greece and ongoing customer operations in international defense and commercial markets [5] - Approximately half of the backlog is from North America, with the remainder split between Latin America and parts of the Middle East [20] Company Strategy and Development Direction - The company aims to enable persistent multi-domain offshore autonomy, focusing on scalable autonomy infrastructure at sea [7] - The strategy includes building a global maritime autonomy infrastructure layer, positioning the company as a platform provider rather than just a product provider [8] Management's Comments on Operating Environment and Future Outlook - Management noted strong demand signals across core markets, with backlog and pipeline levels significantly higher than a year ago [16] - The company is focused on execution, reliability, and delivering solutions that perform consistently in mission-critical environments [16] Other Important Information - The company is experiencing operational data accumulation in real-world maritime environments, which supports product improvements and enhances mission readiness [8] - Increased operating expenses were primarily due to higher non-cash stock-based compensation and headcount increases to strengthen competitive position [13] Q&A Session Summary Question: Visibility on backlog delivery cadence and categorization by geography or customer type - Management confirmed that a portion of the $19.9 million backlog is due for immediate delivery, with about half from North America and the rest from Latin America and the Middle East [18][20] Question: Prospects for contracts in UAE waters - Management stated that they have assets in the UAE and local staff working on shipping and safe port operations [22] Question: Inclusion of recurring revenues from Merrows in backlog - Management clarified that while there are no specific Merrows contracts, the Homeland Security contract utilizes the Merrows platform for data streaming [24] Question: Expectations for positive gross margins going forward - Management indicated that improvements in gross margins are expected as larger scale deployments are initiated [26] Question: Competition for potential orders in the pipeline - Management expressed confidence in the conversion of the $164 million pipeline to backlog, citing a well-positioned commercial team and less competition in their market segment [27][28] Question: Status of defense engagements in Latin America - Management reported ongoing exercises in Latin America and discussions for deploying buoys for surveillance operations [34][35] Question: Inventory strategy and pre-build activity - Management confirmed that inventory growth reflects pre-building buoys to accelerate delivery and that this strategy will continue [36] Question: Expansion beyond Coast Guard into other DHS components - Management highlighted the team's clearance and experience, enabling participation in discussions for broader defense needs [37]

Financial Data and Key Metrics Changes - The company reaffirmed its guidance for fiscal 2026, indicating a significant step-up in financial performance expected in Q4 [4][6] - The company has seen improvements in household penetration, baseline volume, distribution, and market shares, which are critical for sustainable growth [5] Business Line Data and Key Metrics Changes - In North America Retail, investments in brand remarkability are resonating with consumers, leading to improved household penetration and baseline growth [5] - The Pet segment is also experiencing growth, particularly in the fast-growing cat feeding portfolio [5] Market Data and Key Metrics Changes - The company is maintaining competitiveness in North America Foodservice and International markets, although there is acknowledgment of ongoing challenges [5] - The company plans to enhance margins and focus on key global platforms, including super premium ice cream and pet food, following the divestiture of its Brazil business [6][7] Company Strategy and Development Direction - The company is focused on improving organic sales results while maintaining industry-leading margins and efficiency [7] - The divestiture of the Brazil business is part of a broader strategy to prioritize resources on brands with the strongest growth potential [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategy and progress made, with expectations for improved performance in Q4 and fiscal 2027 [8] - The company is aware of the need to adapt to a more stressed consumer environment compared to pre-COVID times, which has influenced promotional activities [38] Other Important Information - The company is experiencing a significant gap in retailer inventory in the Pet segment, which is expected to be neutral in Q4 [71] - The company is also focusing on enhancing on-shelf availability and marketing execution to improve product turns [30][61] Q&A Session Summary Question: Expectations for volume growth in fiscal 2027 - Management aims to increase competitiveness in dollar terms and maintain pound share while focusing on innovation and marketing [13][15] Question: Competitive landscape and pricing mix - The company has seen a slight increase in price mix due to brand innovation and adjustments in pricing strategy [18][19] Question: Performance of new products - New product innovation is tracking at about 25% growth, with strong performance in North America Retail [23][24] Question: Challenges in the snacks segment - The decline in the snacks segment is primarily attributed to issues with the hot snacks category, particularly Totino's [64][65] Question: Retailer inventory adjustments - The company has seen fluctuations in retailer inventories, particularly in the Pet segment, which is expected to revert in Q4 [71][72] Question: Inflation and cost pressures - Management anticipates inflation pressures to remain in line with the current year, with labor being a significant component [47][48] Question: Gross margin expectations for fiscal 2027 - Management believes stable volume growth will aid in restoring margins, but specific guidance on margin levels is not yet provided [41][42]

Financial Data and Key Metrics Changes - The company reaffirmed its guidance for fiscal 2026, indicating a significant step-up in financial performance expected in Q4 [4][6] - The company has seen strength in household penetration, improved baseline volume, distribution, and market shares, which are critical for sustainable growth [5][6] - The company expects meaningful improvements in both top line and bottom line performance in Q4 and beyond [6][8] Business Line Data and Key Metrics Changes - In North America Retail, investments in brand remarkability are resonating with consumers, leading to a rebuild in household penetration and baseline growth [5][6] - The Pet segment is also adding households and accelerating growth through the Love Made Fresh initiative [5][6] - The company is maintaining competitiveness in North America Foodservice and International markets, although there is acknowledgment of more work ahead [5][6] Market Data and Key Metrics Changes - The company is experiencing a decline in food service volumes, particularly in bakery flour, which is expected to persist in the near term [54][56] - The company noted that commercial traffic is down slightly, while non-commercial traffic has increased [54] Company Strategy and Development Direction - The company is focusing on divesting its Brazil business to prioritize resources on brands and platforms with stronger growth potential [6][7][83] - The goal for fiscal 2027 is to improve organic sales results while maintaining industry-leading margins and efficiency [7][8] - The company is committed to enhancing its innovation and renovation efforts, particularly in North America Retail and Pet segments [14][25] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that consumers are under more stress than in previous years, impacting promotional activity and price mix [36][37] - The company expects to see improvements in gross margins as volume stabilizes and productivity initiatives take effect [40][41] - Management is optimistic about the potential for improved dollar share competitiveness in fiscal 2027 [14][15] Other Important Information - The company is experiencing inflationary pressures, particularly in labor costs, which are expected to continue into fiscal 2027 [45][46] - The company is implementing a multi-year transformation initiative aimed at improving productivity and margin stability [41][46] Q&A Session Summary Question: Can General Mills return to volume growth in fiscal 2027? - Management indicated that the goal is to increase competitiveness in dollar terms while maintaining pound share, with a focus on innovation and marketing [12][13] Question: What is the outlook for price mix in key categories? - Management noted that price mix has been positive, with expectations for growth in fiscal 2027 as pricing gaps close [16][18] Question: How is the innovation tracking against goals? - Management reported that innovation is tracking at about 25% growth in North America Retail, with strong performance from new products [22][23] Question: What are the expectations for gross margins in fiscal 2027? - Management stated that stable volume growth is essential for restoring margins, with a path to improvement expected [40][41] Question: What are the inflation expectations for fiscal 2027? - Management anticipates inflation pressures to remain in line with the current year, with labor costs being a significant factor [45][46] Question: What is the status of the Love Made Fresh initiative? - Management reported positive progress with the Love Made Fresh launch, focusing on improving on-shelf availability and marketing execution [28][30] Question: What are the challenges in the snacks segment? - Management identified challenges primarily with the hot snacks category, particularly with Totino's, while noting strong performance in salty snacks [62][63]