Beta Bionics (NasdaqGM:BBNX) Q4 2025 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsBlake Beber - Head of Investor RelationsDavid Roman - Managing Director and Co-Head Healthcare Business UnitJeffrey Cohen - Managing Director and Director of Equity ResearchJon Block - Managing DirectorMatthew Blackman - Managing DirectorSean Saint - CEOStephen Feider - CFOConference Call ParticipantsDanielle Antalfy - Senior AnalystFrank Takkinen - Senior Research AnalystJeff Johnson - Managing Director and ...

Financial Data and Key Metrics Changes - Total revenue for 2025 grew by 38% to $1.4 billion, with royalty revenue increasing by 52% to $868 million, reflecting strong performance from ENHANZE-enabled products [9][17] - Net income for the full year was $316.9 million, down from $444.1 million in 2024, impacted by a $285 million acquired IP R&D expense [19] - Adjusted EBITDA was $657.6 million, compared to $632.2 million in 2024, indicating operational strength despite the IP charge [19] Business Line Data and Key Metrics Changes - DARZALEX Subcutaneous generated $483 million in royalty revenue, a 29% year-over-year growth, with total sales reaching $14.4 billion [10] - PHESGO's royalty revenue increased by 51% to $105.6 million, with total sales growing 48% year-over-year to approximately $3 billion [11] - VYVGART and VYVGART Hytrulo saw a 444% year-over-year growth in royalty revenues to $157.2 million, with total sales reaching $4.15 billion [12] Market Data and Key Metrics Changes - ENHANZE now has 10 global blockbuster opportunities, with significant approvals in the U.S., Japan, and China for various products [8][16] - The subcutaneous formulations of Ocrevus, Opdivo, RYBREVANT, and Tecentriq represent a combined market opportunity of approximately $30 billion by 2028 [13] Company Strategy and Development Direction - The company aims to expand its ENHANZE pipeline, projecting 6 new programs to enter phase one in 2026, bringing the total development portfolio to 15 products [24] - The strategy includes pursuing additional licensing agreements and evaluating new drug delivery technologies to enhance long-term revenue streams [27][28] - Hypercon technology is expected to meet the demand for lower volume, auto-injector-ready therapies, with projections of approximately $1 billion in royalty revenue within five years of the first launches [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term trajectory of the company, emphasizing the durability of royalty revenue and the potential for exceptional value creation [23] - The company anticipates continued strong growth driven by existing products and new collaborations, with a focus on expanding into new therapeutic areas [25][36] Other Important Information - The company completed acquisitions of Elektrofi and Surf Bio, enhancing its drug delivery capabilities and extending IP into the mid-2040s [6][27] - The balance sheet was strengthened with the issuance of convertible notes and an upsized revolving credit facility, reducing near-term refinancing risk [21] Q&A Session Summary Question: Regarding the DARZALEX collaboration with J&J - Management expects to enter discussions with J&J to extend the agreement closer to its expiration in 2032, emphasizing the importance of the partnership [42] Question: On the ADC strategy and regulatory paths - The regulatory pathway for converting ADCs from IV to subcutaneous is expected to follow traditional PK non-inferiority studies, with additional trials for unapproved products [50] Question: Update on Hypercon products and clinical testing - Two Hypercon products are on track for phase 1 clinical testing in 2026, with completion of clinical scale-up batches and IND filings underway [66] Question: Potential incremental royalty opportunities from Merus's petosemtamab - Management highlighted the potential for expanded indications and the importance of subcutaneous formulations in enhancing patient treatment experiences [58]

Palo Alto Networks (NasdaqGS:PANW) Q2 2026 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsAdam Borg - Managing DirectorAdam Tindle - Managing DirectorBrad Zelnick - Managing DirectorDipak Golechha - CFOGabriela Borges - Managing Director and Head of US Software Equity ResearchGregg Moskowitz - Managing DirectorHamza Fodderwala - SVP of Investor Relations and Strategic FinanceJohn DiFucci - Senior Managing DirectorJosh Tilton - Managing DirectorLee Klarich - Chief Product and Technology Offi ...

Goosehead Insurance (NasdaqGS:GSHD) Q4 2025 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsDan Farrell - VP of Capital MarketsMark Jones Jr. - CFO and COOMark Miller - President and CEOConference Call ParticipantsAndrew Andersen - Equity Research AnalystAndrew Kligerman - Equity Research AnalystBrian Meredith - Equity Research AnalystKatie Sakys - Equity Research AnalystMark Hughes - Equity Research AnalystMichael Zaremski - Equity Research AnalystPablo Singzon - Equity Research AnalystPaul ...

Glaukos (NYSE:GKOS) Q4 2025 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsAlex Thurman - CFOAllen Gong - Vice President of Equity ResearchChris Lewis - VP of Investor Relations and Corporate AffairsDavid Roman - Managing DirectorJoanne Wuensch - Managing DirectorJoe Gilliam - President and COORichard Newitter - Managing DirectorThomas Stephan - VP of Medical Technology & SuppliesTom Burns - Chairman and CEOConference Call ParticipantsAdam Maeder - Managing Director and Senior Research Anal ...

Glaukos (NYSE:GKOS) Q4 2025 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsAlex Thurman - CFOAllen Gong - Vice President of Equity ResearchChris Lewis - VP of Investor Relations and Corporate AffairsDavid Roman - Managing DirectorJoanne Wuensch - Managing DirectorJoe Gilliam - President and COORichard Newitter - Managing DirectorThomas Stephan - VP of Medical Technology & SuppliesTom Burns - Chairman and CEOConference Call ParticipantsAdam Maeder - Managing Director and Senior Research Anal ...

Halozyme Therapeutics (NasdaqGS:HALO) Q4 2025 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsChris Wahl - Chief Scientific OfficerHelen Torley - President and CEOJason Butler - Managing Director of Biotechnology Equity ResearchMichael DiFiore - Managing Director of Biotechnology and PharmaceuticalsMohit Bansal - Managing Director and Co-Head of Therapeutics ResearchNicole LaBrosse - CFOSean Laaman - Executive Director and Head of U.S. SMID Cap Biotechnology ResearchTram Bui - VP of Investor ...

RB Global (NYSE:RBA) Q4 2025 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsEric Guerin - CFOGary Prestopino - Managing DirectorJim Kessler - CEOJohn Gibson - Director of Equity ResearchMaxim Sytchev - Managing DirectorSabahat Khan - Managing Director of Global ResearchSameer Rathod - VP of Investor Relations and Market IntelligenceConference Call ParticipantsJohn Healy - Senior Research AnalystKrista Friesen - Equity Research AnalystMichael Feniger - Equity Research AnalystSteven Hansen - ...

Palo Alto Networks (NasdaqGS:PANW) Q2 2026 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsAdam Borg - Managing DirectorAdam Tindle - Managing DirectorBrad Zelnick - Managing DirectorDipak Golechha - CFOGabriela Borges - Managing Director and Head of US Software Equity ResearchGregg Moskowitz - Managing DirectorHamza Fodderwala - SVP of Investor Relations and Strategic FinanceJohn DiFucci - Senior Managing DirectorJosh Tilton - Managing DirectorLee Klarich - Chief Product and Technology Offi ...

Cineverse (NasdaqCM:CNVS) Q3 2026 Earnings call February 17, 2026 04:30 PM ET Company ParticipantsChris McGurk - Chairman and CEOErick Opeka - President and Chief Strategy OfficerGary Loffredo - Chief Legal Officer and Senior AdvisorMark Lindsey - CFOTony Huidor - President of Technology and Chief Product OfficerConference Call ParticipantsBrian Kinstlinger - Equity Research AnalystDan Kurnos - Equity Research AnalystLaura Martin - Equity Research AnalystOperatorGood day, everyone, and thank you for joining ...