RH (NYSE:RH) Q4 2024 Earnings Conference Call April 2, 2025 5:00 PM ET Company Participants Allison Malkin - IR, ICR Gary Friedman - Chairman & CEO Jack Preston - CFO Conference Call Participants Steven Forbes - Guggenheim Michael Lasser - UBS Max Rakhlenko - TD Cowen Andrew Carter - Stifel Bradley Thomas - KeyBanc Capital Markets Jonathan Matuszewski - Jefferies Seth Basham - Wedbush Securities Brian Nagel - Oppenheimer Cristina Fernandez - Telsey Advisory Group Operator Good day, everyone, and welcome to ...

AngioDynamics (ANGO) Q3 2025 Earnings Call April 02, 2025 07:46 PM ET Company Participants Jim Clemmer - President and CEOStephen Trowbridge - Executive VP & CFOJon Young - DirectorEduardo Martinez-Montes - Biotechnology Equity Research Associate Conference Call Participants Steve Lichtman - Managing Director, Senior Research Analyst Operator Good morning, and welcome to the AngioDynamics Fiscal Year twenty twenty five Third Quarter Earnings Call. At this time, all participants are in a listen only mode. A ...

Maris-Tech (MTEK) H2 2024 Earnings Call April 02, 2025 06:57 PM ET Company Participants Shelly Groisman - Head of global marketingIsrael Bar - CEO and FounderNir Bussy - CFO Shelly Groisman Okay. Let's get started. So hi, everyone, and thank you for joining Maristech investor webinar. I'm Shelly Grossman, the marketing manager, of Maristech. Today, our CEO, Isael Bar, and our CFO, Nir Mousse, will present the latest updates for Maristech. So, Isael, the stage is yours. Israel Bar Hello, everybody, and thank ...

Financial Data and Key Metrics Changes - Total company revenue for Q4 was $141.7 million, exceeding guidance [11] - Adjusted EBITDA for Q4 was $21.1 million, beating guidance [12] - Adjusted EPS for Q4 was positive $0.03, surpassing expectations [42] - Total cash and investments increased by $144 million, driven by strong operating cash flow of $42 million [13][45] Business Line Data and Key Metrics Changes - QNX division revenue for Q4 was $65.8 million, beating guidance [11] - Secure Communications division revenue for Q4 was $67.3 million, also exceeding guidance [29] - Licensing revenue for Q4 was $8.6 million, above expectations [35] - Adjusted EBITDA for Secure Communications was $12.6 million for Q4, significantly beating guidance [38] Market Data and Key Metrics Changes - QNX's royalty backlog grew to approximately $865 million, indicating future revenue potential [20] - Annual recurring revenue (ARR) for Secure Communications decreased by $7 million sequentially but increased by $6 million year-over-year to $208 million [34] Company Strategy and Development Direction - The company is focusing on its core growth driver, QNX, and has reduced its cost run rate by over $150 million [60] - The company is expanding its market presence beyond automotive into adjacent verticals such as medical and industrial [82] - The QNX division will now be referred to as QNX to reflect its key role [25] Management's Comments on Operating Environment and Future Outlook - Management noted uncertainty in the automotive sector due to recent tariff changes but emphasized resilience due to diversified revenue sources [48] - The company expects revenue for the full fiscal year 2026 to be in the range of $250 million to $270 million, indicating a 10% growth at the midpoint [49] - Management expressed confidence in maintaining strong relationships with government clients, which are expected to mitigate risks from potential changes in administration [106] Other Important Information - The company completed the sale of the Cylance business to Arctic Wolf, receiving approximately $80 million in cash and common shares [14][43] - The company retained its AI/ML endpoint security patents and tax losses, which are expected to benefit future profits [15] Q&A Session Summary Question: Impact of tariffs on auto OEMs - Management has not seen significant supply chain issues from OEMs related to tariffs, indicating a degree of insulation due to diversified revenue sources [64][65] Question: US federal business impact on Secure Communications - US federal contracts represent about 20-25% of Secure Communications, with no material impact observed so far [68][70] Question: Timeline for OEMs adjusting to tariff impacts - OEMs are still navigating the situation, with no significant downtick in supply chain volumes reported [74][75] Question: Business outside the US - The company is optimistic about growth opportunities outside the US, particularly in Europe, and is investing in adjacent markets [80][82] Question: Vehicle OS initiative and content opportunities - There is a consistent trend of OEMs seeking to expand their collaboration with the company, indicating potential for increased content per vehicle [96][100] Question: Risks related to government contracts - Long-term agreements with governments are expected to remain stable, with opportunities for consolidation and expansion of services [106]

Financial Data and Key Metrics Changes - Company reported a revenue growth of 50% in 2024, increasing from approximately $4.1 million in 2023 to about $6.1 million in 2024 [29] - Net loss decreased from $2.7 million in 2023 to $1.2 million in 2024, representing a reduction of over 54% [31] - Cash and cash equivalents at the end of December were approximately $2.3 million, sufficient to support growth and operations for the next 12 months [31] Business Line Data and Key Metrics Changes - The primary focus is on the defense market, with significant revenue generation expected from this sector in 2024 [10] - Company has equipped over 1,000 tanks with situation awareness technology, marking one of the largest deployments from a single company [18] - Solutions for drones are already mounted on thousands of drones worldwide, enhancing surveillance and target striking capabilities [17] Market Data and Key Metrics Changes - Company is expanding its presence in Western Europe, the U.K., North America, Eastern Europe, and India, where there is a clear demand for technology [14] - The worldwide edge computing market is growing rapidly, with increasing opportunities in modern warfare technologies such as drones and robots [11] Company Strategy and Development Direction - Company aims to provide final products and leverage strategic partnerships, particularly focusing on the U.S. and Indian markets [12] - Plans to develop miniature low-power solutions for drones, responding to the growing demand in the drone market [22] - Roadmap includes integrating Maris solutions with thermal cameras and developing unique AI-based detection solutions [26] Management's Comments on Operating Environment and Future Outlook - Management highlighted a strong revenue generation potential from the defense market due to global demand for advanced defense technologies [10] - The company is positioned as a leader in edge computing solutions, particularly in miniature low-power applications [12] - Management expressed confidence in the growth trajectory and market opportunities, despite the non-linear revenue patterns [35] Other Important Information - Company has established partnerships with key players in the industry, including Hailo for AI capabilities and various defense contractors [7][8] - Significant orders have been received for intelligence gathering and situation awareness platforms, indicating strong market demand [15] Q&A Session Summary Question: What is the status of the agreement with the Indian distributor? - Management confirmed the signing of an agreement with Thrikasa Technology, which is expected to open new opportunities in the defense market, and stated that there is no relation between this agreement and the recent drop in stock price [33] Question: Why was there a decrease in revenues between the second half of 2023 and the first half of 2024? - Management explained that revenues are not linear due to the project-based nature of the business, leading to fluctuations between periods [35] Question: What are the future expectations for the company? - Management indicated that future forecasts are not public information at this stage [36]

Financial Data and Key Metrics Changes - Consolidated revenues for the second quarter were $602.2 million, an increase of 1.9% from $590.7 million in the prior year [19][20] - Operating income increased to $31.2 million, up 11.7% from $27.9 million [19][20] - Net income rose to $24.5 million or $1.31 per diluted share, compared to $20.5 million or $1.09 per diluted share [20] - Adjusted EBITDA increased to $68.9 million from $64.8 million, reflecting a 6.3% growth [20] Business Line Data and Key Metrics Changes - Core laundry operations revenues were $530.4 million, a 1.5% increase from the previous year, with organic growth at 1.9% [22] - Specialty garment segment revenues increased to $44.4 million, up 2.2%, while operating margin decreased to 16.7% from 22.8% [24] - First aid segment revenues rose to $27.5 million, a 10.6% increase, but the segment reported a nominal operating loss of $0.5 million [25] Market Data and Key Metrics Changes - Operating cash flow improved by 20.2% year-to-date, totaling $128.3 million, driven by enhanced profitability and lower working capital needs [26] - The company expects fiscal 2025 revenues to be between $2.422 billion and $2.432 billion, reflecting anticipated negative impacts from the Canadian dollar exchange rate [27] Company Strategy and Development Direction - The company is focused on investing in people, technology, and infrastructure to support growth and improve profitability [10] - A significant expansion of the distribution center in Owensboro, Kentucky, is underway to enhance service efficiency [15] - The strategy includes improving operational execution and margin enhancement, with ongoing efforts in strategic pricing, procurement, and inventory management [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-single-digit growth and high teen EBITDA margins in the future [36] - The company is optimistic about the positive trends in revenue-related leading indicators, including contract renewals and customer retention [13] - Management acknowledged the uncertainty surrounding tariffs but emphasized confidence in the ability to adapt and minimize impacts [48] Other Important Information - The company has no long-term debt and reported cash and short-term investments totaling $201 million [25] - The board rejected an unsolicited acquisition proposal from Cintas, focusing on executing the company's growth strategy [29][30] Q&A Session Summary Question: How does the company plan to achieve value creation comparable to the Cintas offer? - Management believes there are significant opportunities for growth and aims for mid-single-digit growth and high teen EBITDA margins [36][38] Question: What is the impact of tariffs on the business? - Management has not included specific tariff impacts in guidance due to uncertainty but anticipates potential short to midterm effects [48] Question: What factors contributed to the raised EPS guidance? - The adjustment is primarily due to anticipated improvements in core laundry operations [56] Question: How does seasonality affect core laundry margins? - The second quarter is typically the least profitable due to various expenses, and last year's extra week in the fourth quarter may create a year-over-year headwind [58][60] Question: What is the current status of net promoter scores? - Management noted that net promoter scores are improving but did not disclose specific figures, emphasizing the importance of customer experience [82][88]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 2024 was $142 million, down from $150 million in Q3 2024 [14] - Total revenues decreased to $584 million from $643 million in the prior quarter [52] - Free cash flow generated was $13 million in Q4, following $111 million in Q3 [15] Business Line Data and Key Metrics Changes - Fleet-wide revenue efficiency was 96% in Q4 and 97% for the full year, marking an improvement over the previous year [10] - The jackup segment saw a contract backlog growth of over 75% in the past two years [29] - Average day rates for key markets remained firm, with a multiyear contract for Valaris Stavanger adding $75 million to contract backlog [32] Market Data and Key Metrics Changes - Global demand for hydrocarbons is increasing, with offshore production expected to play a significant role [16] - Deepwater project approvals are anticipated to double in 2026 and 2027 compared to 2024 and 2025 [18] - The contracting environment for high specification assets is strong, with over twenty floater opportunities tracked for 2026 and beyond [25] Company Strategy and Development Direction - The company is focused on securing long-term contracts for its active fleet and is willing to idle rigs until the right jobs are available [9] - Plans to retire three semisubmersibles to reduce costs and focus on high specification assets [20] - The strategy includes minimizing costs for idle rigs while seeking attractive long-term opportunities [101] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the contracting outlook for 2026 and beyond, citing strong customer demand and CapEx plans [84] - The company is managing its fleet prudently in response to market conditions, with plans to retire rigs that do not justify their costs [19] - Management emphasized the importance of offshore oil and gas production in meeting global energy needs [64] Other Important Information - The company ended Q4 2024 with cash and cash equivalents of $381 million, providing total liquidity of approximately $750 million [54] - Capital expenditures for Q4 were $112 million, below the guidance range [53] - The company repurchased $125 million of shares during 2024, following $200 million in 2023 [54] Q&A Session Summary Question: How much of the 2025 EBITDA guidance is booked versus expected new awards? - Management indicated that approximately 94% of the revenue guidance is contracted for the year, with the remaining 6% expected to be secured later [69] Question: What is the likelihood of reactivating cold stacked drillships? - Management stated that while they are patient in reactivating rigs, they see good long-term opportunities for high specification assets currently sidelined [75] Question: What is the outlook for demand pipeline going forward? - Management expressed confidence in the demand pipeline for 2026 and 2027 based on customer discussions and CapEx plans [85] Question: Insights on Aramco's rig contracting plans? - Management noted that there are no discussions about additional rig suspensions in Saudi Arabia and that discussions for extensions are constructive [90] Question: How are operating costs managed for idle rigs? - Management explained that costs for warm stacked rigs can be reduced significantly, with a ramp-down and ramp-up period of about three months [111]

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