Company Overview - ICU Medical is a global MedTech company focused on IV therapy and critical care products, with sales in approximately 80 countries[6] - The company's diluted equity value is $3.82 billion, with a net debt of $1.02 billion (approximately 2.6x leverage) and an enterprise value of $4.84 billion[8] - The company's revenue is divided into three segments: Consumables (~$1.1B), Systems (~$680M), and Vital Care (~$300M)[7] - Geographically, 64% of sales are in the US & Canada, with the remaining in other regions[8] - Single-use disposables and software account for 87% of revenue, while hardware accounts for 13%[8] Growth Strategy - The company aims to deliver mid-single-digit growth across its core business[20] - The company is focused on expanding gross margins, with an opportunity for +200bps expansion remaining[37] - The company is developing a new IV therapy platform for launch in 2026, featuring a shared cloud-based enterprise software[24, 25] Innovation and Product Portfolio - The company has a complete IV therapy portfolio across the entire care continuum[15] - The company is focused on innovation in IV consumables to address clinical priorities such as patient and clinician safety and clinical efficiency[33] - The company is creating clinical value with IV consumables innovation, addressing impactful clinical priorities[33]

Visionary Innovation Riad Sherif, M.D. Chief Executive Officer J.P. Morgan Healthcare Conference January 14, 2026 Safe Harbor Statements Cautionary note on forward-looking statements These slides and the accompanying oral presentation contain forward-looking statements and information. The use of words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "project," "intend," "future," "potential," or "continue," and other similar expressions are intended to identi ...

Click to edit Master title style January 14, 2026 JPM Healthcare Conference Igniting a systemic immune response to cancer with oncolytic immunotherapy © 2026 Replimune Group Inc. JPM 2026 Presentation 1 Click to edit Master text styles Safe harbor © 20256 Replimune Group Inc. Replimune Group Inc. 3 Click to edit Master title style RPx Oncolytic Immunotherapy Overcoming Historical Hurdles ~150 Accounts Ready on Day 1 Go-to market model optimized to enable oncologist/interventional radiologist (IR) coordinati ...

Mission Produce, Inc. Acquisition of Calavo Growers, Inc. January 2026 Investors and security holders will be able to obtain free copies of the registration statement and Joint Proxy Statement/Prospectus (if and when available) and other documents containing important information about Calavo, Mission and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the Form S-4 and Joint Proxy Statement/Prospectus (if and whe ...

FORWARD-LOOKING STATEMENTS This communication contains certain "forward-looking statements" within the meaning of federal securities laws. Forward-looking statements may be identified by words such as "anticipates," "believes," "could," "continue," "estimate," "expects," "intends," "will," "should," "may," "plan," "predict," "project," "would" and similar expressions. Forward-looking statements are not statements of historical fact and reflect Calavo's and Mission's current views about future events. Such f ...

Pipeline Programs - Setrusumab for Osteogenesis Imperfecta (OI) Phase 3 results were reported around the end of 2025, partnered with Ultragenyx, but neither study achieved the primary endpoint of reduction in AFR compared to placebo or bisphosphonates[8, 11] - Alvelestat for Alpha-1 Antitrypsin Deficiency-associated Lung Disease (AATD-LD) activities are ongoing to support the initiation of Phase 3, following an agreement in principle on the primary endpoints[8] - Vantictumab for osteopetrosis is out-licensed to āshibio, with EU rights retained, and an IND is planned for H2 2026[8] Financial Status - The company has approximately $41 million in cash and cash equivalents as of December 31, 2025, providing a cash runway into mid-2027[8] Setrusumab Clinical Trial Results - In the Orbit study (Setrusumab vs placebo), 19.5% of patients met rescue criteria at 12 months, primarily due to fractures, with a larger number of placebo patients exiting the study[14] - In the Cosmic study (Setrusumab vs bisphosphonates), there was a 59% reduction in vertebral fractures on setrusumab (p=0.081), despite more severe type III/IV patients on setrusumab (65% setrusumab vs 54% IV-BP)[31] - Setrusumab patients in the Orbit study showed improvements in disease severity (PGIS) in peds/teens, as well as improvements in pain/comfort and sports/activity[20] Market Opportunities - Osteogenesis Imperfecta affects approximately 60,000 patients across the US & Europe[9] - Severe Alpha-1 Antitrypsin Deficiency affects an estimated 50,000 patients in North America and 60,000 in Europe[9] - Osteopetrosis has an incidence of 1 in 20,000 in North America and Europe, with onset typically in late childhood[9]

Verra Mobility FY Conference Summary Company Overview - **Company**: Verra Mobility (NasdaqCM: VRRM) - **Industry**: Outsourced towing management services, traffic safety enforcement, and parking management - **Revenue**: Approximately $950 million for the trailing 12 months as of Q3 2025 [3] - **EBITDA**: Just over $400 million with a 44% adjusted EBITDA margin [3] - **Free Cash Flow**: $153 million, representing a conversion rate of nearly 40% of adjusted EBITDA [3] - **Employee Count**: Approximately 2,000 [4] - **Customer Base**: Over 2,300 customers, primarily in parking services [4] Business Segments 1. Commercial Services - **Market Position**: Leader in toll and violation management for commercial fleets [6] - **Revenue**: Approximately $400 million globally, with high single-digit organic growth expected [8] - **Recurring Revenue**: 90% of revenue is recurring in nature [8] - **Growth Drivers**: GDP-like travel growth, increasing cashless road penetration, and new toll road additions [8] 2. Government Solutions - **Market Position**: Industry leader in automated traffic enforcement [9] - **Revenue**: Approximately $400 million, also a high single-digit organic grower [10] - **Recurring Revenue**: 90% of revenue is recurring [10] - **Key Contracts**: Largest customer is New York City, with a renewed contract valued at nearly $1 billion [10] - **Market Share**: Maintains a 70% market share in the U.S. [11] - **Growth Opportunities**: Adoption of new photo enforcement technologies and expansion into new municipalities [11] 3. Parking Solutions - **Market Position**: Leading provider of parking management solutions in North America [12] - **Revenue**: Approximately $80 million, with mid-single-digit organic growth [13] - **Recurring Revenue**: 50% from SaaS, 25% from recurring services, and 25% from episodic hardware sales [13] - **Growth Drivers**: Expansion into universities and municipalities, with significant market potential [13] Financial Performance - **Revenue Growth**: Total revenue CAGR of about 15% pre-COVID, with service revenue CAGR of about 17% [20] - **Adjusted EBITDA Growth**: 12% CAGR, with margins in the mid-40s [20] - **Leverage**: Closed Q3 with a leverage ratio of about two times, targeting three times net leverage [22] - **Liquidity**: $200 million in cash and an undrawn credit facility, totaling over $400 million in liquidity [22] Strategic Insights - **New York City Contract**: Expected to be EBITDA accretive despite a temporary margin step back due to contract adjustments [25][31] - **Market Trends**: High single-digit growth expected in Government Solutions, driven by technology adoption and new city contracts [26] - **Cash Flow Expectations**: Anticipated cash flow to remain stable, with a conversion rate of around 40% of adjusted EBITDA [34] Future Growth Opportunities - **Commercial Services**: Expansion into European markets and adjacencies like telematics and vehicle towing [16] - **Government Solutions**: Growth through new city contracts and technology adoption, including school bus enforcement [17] - **Parking Solutions**: Potential growth in airport parking management and monetizing curb space in urban areas [18] Market Dynamics - **Travel Trends**: Overall travel growth of about 0.5% in 2025, with a bullish outlook for 2026 [42][43] - **Cashless Tolling**: Approximately 70% of U.S. toll roads are cashless, indicating significant growth potential [36] - **European Market**: Cashless tolling penetration is much lower than in the U.S., presenting future opportunities [39] Capital Allocation Strategy - **M&A vs. Debt Reduction**: Focus on high-return opportunities, including share buybacks, with a recent authorization of $250 million for buybacks [49][50] - **Long-term Outlook**: Emphasis on being a world-class capital allocator, balancing debt management and growth investments [49]

T1 Energy (NYSE:FREY) FY Conference January 14, 2026 03:00 PM ET Conference Call ParticipantsNone - AnalystJeffrey Spittel - Managing Director and Senior Research AnalystNoneAll right, thank you. We're happy to welcome Jeff Spittel from T1 Energy today. Jeff, you know, really happy you could make it. I'm sure you had a busy day.Jeffrey SpittelA little bit late. Better late than never.Do you want to give a quick intro on yourself and your background?Sure. So I'm the EVP of Investor Relations and Corporate De ...

AXT (NasdaqGS:AXTI) FY Conference January 14, 2026 03:00 PM ET Company ParticipantsTim Bettles - VP of Business Development, Strategic Sales, and MarketingGary Fischer - VP and CFOConference Call ParticipantsNone - Analyst 3None - Analyst 1None - Analyst 4None - Analyst 5Charles Shi - Senior Analyst of Semiconductors and Semicap EquipmentNone - Analyst 2Charles ShiHello. Good afternoon. This is the 28th Needham Growth Conference. My name is Charles Shi. I'm the Semicap Analyst here at Needham. Joining me on ...

Summary of Primoris Conference Call Company Overview - **Company**: Primoris Services Corporation - **Industry**: Engineering construction, focusing on utilities and energy sectors - **Segments**: - Utilities: $2.7 billion gross revenue, with a margin target of 10%-12% - Power delivery: 45% - Gas utility: 40% - Communications: 15% [2][3] - Energy: $4.9 billion gross revenue - Renewables: 60% - Traditional industrial (natural gas power): 20% - Heavy civil (highways, roads, bridges): 12% - Pipeline: 7% [3] Core Insights and Arguments - **Demand Environment**: Strong demand across end markets, with a focus on maintaining long-term client relationships through Master Service Agreements (MSAs) [5][6] - **Competitive Position**: Primoris competes on service quality and long-term relationships rather than just price, especially in utilities [5][6] - **Project Work**: The energy segment is driven by discrete projects, with varying competition levels. The pipeline business is currently competitive, while solar and gas power generation are seeing increased demand [7][9] - **Growth Potential**: - Natural gas generation is expected to be the highest growth area in the next few years [11] - Pipeline projects are anticipated to contribute significantly again, with $4.5 billion worth of projects tracked [12] - Solar business growth is expected to flatten in 2026 after a strong 2025 [12][13] - Power delivery is seen as a long-term growth driver, with a goal to increase transmission and substation work [14] Financial Performance and Margins - **Bid Margins**: Current project work margins are stable, with equitable contract terms allowing for better margin management [17][18] - **Utility Business Improvements**: Focus on resource utilization, contract renegotiation, and efficient billing has improved margins [19][21] - **Project Work vs. MSA**: Project work allows for better resource planning and efficiency, translating into higher margins [22][23] Capital Allocation Strategy - **Priorities**: - Organic growth is the top priority, followed by debt repayment, M&A, and return of capital [29] - No M&A in the last three years due to a disciplined approach; potential for acquisition in 2026 if suitable opportunities arise [30] - **Valuation Multiples**: Current multiples for potential acquisitions are in the 8-10 times range, with some exceptions in electrical CNI [31][32] Future Milestones and Catalysts - **Growth Drivers**: Continued focus on natural gas generation and pipeline resurgence are expected to drive growth [33][34] - **Margin Improvement**: Anticipated margin appreciation in power delivery and energy segments [34] Technology and AI Integration - **AI Utilization**: Primoris is investing in foundational AI and automation strategies to improve efficiency and reduce SG&A growth relative to revenue [36][38] Equipment Strategy - **CapEx Flexibility**: Transitioning from a leasing-heavy strategy to a more balanced approach between purchasing and leasing equipment [40][41] Conclusion - Primoris is well-positioned to leverage strong market tailwinds and improve operational efficiency, with a focus on organic growth and strategic capital allocation [46]