Airbnb (NasdaqGS:ABNB) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker10Good afternoon, and thank you for joining Airbnb's earnings call, conference call for the fourth quarter of 2025. As a reminder, this conference call is being recorded and will be available for replay from the investor relations section of Airbnb's website following this call. I will now hand the call over to Andrew Slabin, Vice President of Investor Relations. Please go ahead.Speaker0Good afternoon, and welcome to Airbnb's ...

Financial Data and Key Metrics Changes - In fiscal year 2025, total revenue was $531.8 million, up 24% year-over-year [6][19] - Q4 total revenues reached $145.3 million, a 25% increase year-over-year [19] - Cloud revenue for 2025 was $243.3 million, representing 45% year-over-year growth [6][20] - Q4 cloud revenues grew to $70.2 million, up 42% year-over-year, accounting for 48% of total revenues [19][20] - Gross profit in Q4 was $121.6 million, with a gross margin of 83.7% [24] - Non-GAAP earnings per share for 2025 was $0.82, a 26% increase year-over-year [25] Business Line Data and Key Metrics Changes - Customers spending more than $100,000 annually grew to 1,168, a 15% increase year-over-year [6] - Enterprise Plus subscriptions contributed 57% of total revenues in Q4, up from 54% in the prior year [21] - Security Core products represented 16% of remaining performance obligation (RPO) as of December 31, 2025, compared to 12% in the prior year [23] Market Data and Key Metrics Changes - JFrog's customer count in fiscal year 2025 was approximately 6,600 [23] - Net Dollar Retention for the four trailing quarters was 119%, indicating strong customer adoption [23] Company Strategy and Development Direction - JFrog aims to be the system of record for managing and securing software supply chains, particularly in the context of AI [10][18] - The company is focusing on expanding its security offerings and enhancing partnerships with major cloud providers [14][18] - JFrog is committed to quality growth and responsible investments while addressing emerging needs in the software supply chain [33] Management's Comments on Operating Environment and Future Outlook - Management noted a growing threat environment in software supply chains, which is driving demand for JFrog's security solutions [12][44] - The company anticipates continued durable growth in cloud revenue, estimating a baseline growth of 30%-32% for 2026 [28] - Management expressed confidence in the strength of the pipeline and a stabilized purchasing environment as they enter 2026 [27] Other Important Information - JFrog's cash and short-term investments totaled $704 million at the end of 2025, up from $522 million at the end of 2024 [26] - The company is focused on maintaining disciplined spending while investing in innovation across its platform [29] Q&A Session Summary Question: Customer count transition and focus on larger customers - Management confirmed a strategy focused on larger enterprise customers, resulting in a decrease in lower ASP customers while increasing spending from larger clients [39][40] Question: Structural growth drivers from security incidents - Management acknowledged the increasing frequency of security incidents as a structural growth driver, emphasizing the need for robust security solutions [43][44] Question: Revenue parallels from security incidents - Management indicated that potential revenue growth should be assessed based on the number of enterprise customers yet to adopt JFrog Security, highlighting multiple avenues for growth [48] Question: Consumption trends from AI-driven deployments - Management noted a significant increase in binaries created due to AI agents, indicating a growing need for JFrog's solutions to manage this surge [52] Question: Governance and regulatory pressure with AI adoption - Management confirmed that JFrog's AppTrust is designed to address governance challenges arising from AI and generative tools [56] Question: Partnerships with AI companies and new logos - Management highlighted that partnerships with NVIDIA and Hugging Face are driving new customer acquisitions and enhancing JFrog's position in the market [72][73] Question: Risks associated with AI - Management identified the risk of becoming distracted by trends rather than focusing on delivering value to enterprise customers as a key concern [80]

Financial Data and Key Metrics Changes - As of December 31, 2025, the company had $61.8 million in cash, cash equivalents, and marketable securities, reflecting a focus on cash preservation measures to enhance operational efficiency and extend runway [9][58]. Business Line Data and Key Metrics Changes - The company completed the randomized portion of the PALISADE-3 phase 3 trial in social anxiety disorder and is now focused on the ongoing PALISADE-4 trial, implementing refinements based on insights from PALISADE-3 [4][7]. - The open-label extension of PALISADE-3 and PALISADE-4 is ongoing, aimed at evaluating the safety and tolerability of fasedienol in real-world situations [6]. Market Data and Key Metrics Changes - The company is preparing to submit a US investigational new drug application for rafisolone, a hormone-free product candidate for treating moderate to severe vasomotor symptoms due to menopause, with a planned submission in the first half of 2026 [8][9]. Company Strategy and Development Direction - The company aims to deliver transformative treatments for social anxiety disorder and women's health, focusing on data-driven approaches and regulatory strategies that leverage the totality of evidence from its clinical programs [10]. - The strategic focus includes enhancing statistical models and understanding predictors of response to improve regulatory discussions with the FDA [5][7]. Management's Comments on Operating Environment and Future Outlook - Management emphasized the significant unmet need in social anxiety disorder and the commitment to advancing clinical programs that could provide meaningful value to patients and shareholders [10]. - The company is closely monitoring the evolving regulatory landscape, particularly the integration of AI in decision-making processes at the FDA [32]. Other Important Information - The company has implemented company-wide cash preservation measures to maintain strategic flexibility across its pipeline [9]. - Insights from ongoing studies are expected to contribute to a better understanding of fasedienol's drug effect and usage patterns [7]. Q&A Session Summary Question: Insights from PALISADE-3 data - The company is still analyzing the data from PALISADE-3 and has not released individual curves publicly, but differences have been noted in individual respondents and subgroups [12][13]. Question: Modifications to the SAP plan - Any future changes to the SAP would require resubmission and alignment with the FDA before database lock [18][20]. Question: Enrollment status for PALISADE-4 - Enrollment for PALISADE-4 has continued as planned and projected, with no impact observed since the announcement on December 17 [36][37]. Question: Regulatory path forward - The regulatory outcomes depend on the totality of data and the nature of the population in need, with a focus on the weight of evidence across the program [31][32]. Question: Impact of PALISADE-3 outcome on PALISADE-4 - The company is exploring potential covariates from previous studies that may influence the separation between treatment arms, but no guarantees can be made [38][39].

Bright Horizons Family Solutions (NYSE:BFAM) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker6Greetings, and welcome to the Bright Horizons Family Solutions fourth quarter 2025 earnings call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Mich ...

Financial Data and Key Metrics Changes - In 2025, the company reported a record $4.3 billion in new transactions, an increase of 87% compared to 2024, with a growing pipeline exceeding $6.5 billion by year-end [4][5][9] - Adjusted EPS grew by 10.2% in 2025, reaching $2.70 per share, supported by increased investment volumes and profitability [5][16] - Adjusted ROE rose to 13.4%, reflecting a 70 basis point increase from 2024, driven by higher yields and growth in fees from managed assets [17][19] Business Line Data and Key Metrics Changes - The company closed over $3 billion in new investments excluding the $1.2 billion SunZia project, demonstrating strong underlying demand [7][8] - The investment volume retained on the balance sheet increased by approximately 140% year-over-year, totaling $3.6 billion in 2025 [8] - The portfolio yield improved to 8.8%, contributing to the overall earnings power of the managed assets, which grew by 18% to $16.1 billion [18][19] Market Data and Key Metrics Changes - The renewables pipeline is projected to exceed $230 billion, with renewables accounting for 99% of projected capacity additions in 2026 [10] - The demand for power and cost-effectiveness in asset classes have created an attractive investing environment, with PPA rates increasing over 40% in the past three years [9][10] - The company’s grid-connected business is benefiting from significant growth in renewables, particularly solar and storage [10] Company Strategy and Development Direction - The company aims to maintain a payout ratio below 50% by 2028, focusing on capital recycling to enhance growth and profitability [15][81] - The strategy includes expanding equity commitments in the CCH1 vehicle and enhancing capital efficiency through new funding sources [19][22] - The company is investing in talent and technology to support further scale and efficiency, with a focus on diverse asset classes [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability objectives, with a three-year guidance extending to 2028, expecting adjusted EPS in the range of $3.50-$3.60 [14][25] - The operating environment remains favorable, with no significant negative or positive trends anticipated for 2026 [31][32] - Management highlighted the resilience of the business model despite challenges such as inflation and supply chain issues, maintaining a consistent growth trajectory [11][12] Other Important Information - The company achieved a record of 1.7 million metric tons in avoided CO emissions from new investments in 2025, contributing to a total of 10 million metric tons avoided to date [24] - The company has made significant investments in its platform, particularly in technology and talent, to position itself for future growth [25] Q&A Session Summary Question: Outlook for 2028 and growth above 10% CAGR - Management indicated that pathways to exceed 10% CAGR include increased volume, better yields, and lower debt costs [28][29] Question: 2026 outlook - Management noted that while they do not provide specific guidance for 2026, they expect meaningful growth based on the current pipeline [31][32] Question: Change in guidance strategy - The switch to nominal EPS guidance allows for more precise adjustments in future quarters, reflecting increased confidence in growth [38][39] Question: Investment opportunities and pipeline context - Management confirmed no structural change in the business, with larger investment opportunities emerging but no specific projects like SunZia currently in the pipeline [41][42] Question: Impact of PPA renegotiations on earnings - Positive renegotiations of PPAs are expected to enhance long-term cash flows and potentially accelerate EPS growth beyond current guidance [71][74]

Financial Data and Key Metrics Changes - Total revenue for 2025 was $249.3 million, with subscription revenue representing 53% of total revenue, up from 45% in 2024 [12][13] - In Q4 2025, total revenue was $55.3 million, a 22.1% year-over-year decline, with subscription revenue at $28.8 million, down 22% year-over-year [14][15] - Adjusted EBITDA for Q4 was a loss of $10.3 million, an improvement from a loss of $22.8 million in Q4 2024 [17] - Net loss for Q4 was $25.2 million, compared to $30.7 million in the previous quarter, representing a 43.5% improvement year-over-year [17] Business Line Data and Key Metrics Changes - Amwell Medical Group (AMG) visit revenue was $23.7 million, down 18.7% year-over-year, with paid AMG visits flat at approximately 340,000 [15] - Total platform visits were 1 million, down 28.4% year-over-year from 1.4 million visits in Q4 2024 [15] Market Data and Key Metrics Changes - The healthcare landscape is shifting towards operational efficiency, with payers and health systems pursuing platform consolidation and automation [3][4] - The Medicare population is aging, pharmacy costs are surging, and clinician shortages are worsening, driving demand for technology-enabled care [4][5] Company Strategy and Development Direction - The company has focused exclusively on offering a tech platform, enhancing patient engagement and reducing costs through automation and AI [6][9] - Amwell has divested non-core activities, such as the sale of APC, and restructured to reduce costs and improve revenue quality [10][11] - The company aims to achieve cash flow breakeven from operations in Q4 2026, with a focus on high-quality, sticky revenue [11][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the impact of AI on healthcare and the company's role in integrating AI programs into a regulated infrastructure [26][29] - The company anticipates a strong secular trend towards technology-enabled care, with expectations for growth in both payer and government segments [44][46] Other Important Information - The company ended 2025 with approximately $182 million in cash and marketable securities and no debt [18] - For 2026, revenue is expected to be in the range of $195 million to $205 million, with AMG visits projected between 1.32 million and 1.37 million [18][19] Q&A Session Summary Question: What is the status of existing client contracts and government opportunities? - Management indicated that most contracts signed in 2025 were renewals, with significantly fewer open renewals in 2026, except for the DHA renewal expected in summer 2026 [22][23] Question: How does the company view the competitive landscape with new AI entrants? - Management is optimistic about AI's impact on healthcare and believes that their platform's ability to integrate multiple AI programs will provide a competitive advantage [25][27] Question: What are the headwinds and tailwinds for 2026 guidance? - Tailwinds include earlier adoption of the technology-enabled platform, while headwinds involve the upcoming DHA renewal [32][34] Question: Can you elaborate on the DHA revenue step down and potential recovery? - Management confirmed a step down in DHA revenue due to the elimination of certain programs but expressed confidence in the renewal and potential for additional revenue [35][36] Question: How does the company plan to resume growth in 2026? - Management emphasized the importance of their unified platform and the expected increase in usage across various care segments, particularly in government and payer markets [42][44]

Atomera (NasdaqCM:ATOM) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker1Hello everyone, and welcome to Atomera's fourth quarter and fiscal year 2025 update call. I'd like to remind everyone that this call and webinar are being recorded, and a replay will be available on Atomera's IR website for one year. I'm Mike Bishop with the company's investor relations. As in prior quarters, we are using Zoom, and we will follow a similar presentation format with participants in a listen-only mode. We will ...

Financial Data and Key Metrics Changes - For Q4 2025, the company reported revenue of $370 million, with an earnings per share (EPS) of $0.29, aligning with expectations [17][24] - For the full year 2025, adjusted EPS was $1.27, up from $0.84 in the previous year, representing a 51% growth [16][20] - Gross margin for Q4 was 70.7%, down from 71.4% in the prior year, while the core Nu Skin business gross margin improved to 77.6% [17][19] - The company generated $1.49 billion in revenue for the full year, with a foreign currency headwind of approximately $13.4 million [18][21] Business Line Data and Key Metrics Changes - The core Nu Skin business saw a gross margin of 77.4% for the full year, an 80 basis point improvement over the prior year [19] - Selling expenses for the core business were 40.3% for the year, with expectations to maintain around 40% moving forward [20] Market Data and Key Metrics Changes - The company initiated pre-market operations in India in November 2025, with a formal market opening anticipated in late 2026 [5][12] - Latin America continues to show strong performance, providing insights for expansion into new emerging markets [13][44] Company Strategy and Development Direction - The company aims to focus on the $6.8 trillion wellness market with the launch of the Prysm iO Intelligent Wellness Platform [6][15] - Strategic priorities include expanding into India and improving operational performance and efficiencies [12][15] - The company plans to place over 100,000 Prysm iO devices by the end of 2026, targeting 10 million healthy households by 2030 [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth by the end of 2026, despite inherent switching costs during the transition [5][15] - The company is cautious about revenue projections for India, focusing on establishing local infrastructure and logistics [35][36] - Management highlighted the importance of the Prysm iO launch in enhancing customer engagement and lifetime value [10][24] Other Important Information - The company ended the quarter with approximately $240 million in cash and reduced outstanding debt to $224 million, resulting in an expanded net cash position [21] - The company returned approximately $11.8 million in dividends and $20 million in share repurchases during the year [21] Q&A Session Summary Question: Insights on Prysm's revenue contribution - Management indicated that the placement of Prysm devices will lead to subscriptions, with an estimated market value of around $300 per device, potentially generating $30 million from device sales alone [32] Question: Thoughts on India market potential - Management sees long-term potential in India but is cautious about immediate revenue forecasts, focusing on local infrastructure and logistics [36][37] Question: Guidance considerations and leverage points - Management discussed modeling for 2026, emphasizing gross margin expansion and maintaining selling expenses around 40% [40][41] Question: Other portfolio performance insights - Management highlighted the restaging of the Tru Face skincare line and improvements in various markets, including China and Latin America [43][44]

XP (NasdaqGS:XP) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker0Good evening, everyone. I'm André Parize, Investor Relations Officer at XP. Thank you for joining us. It's a pleasure to be here with you today. On behalf of the company, I would like to welcome you to our fourth quarter 2025 earnings call. Today's presentation will be delivered by our CEO, Thiago Maffra, and our CFO, Victor Mansur. Both will be available for the Q&A session immediately afterwards. If you'd like to ask a question d ...

Maplebear (NasdaqGS:CART) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker11Good day, and thank you for standing by. Welcome to the Instacart Fourth Quarter 2025 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one one on your telephone. You will then hear a message advising your hand is raised. To withdraw you ...