VistaGen Therapeutics (NasdaqCM:VTGN) Q3 2026 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsElemer Piros - Managing DirectorJoshua Prince - COOMark McPartland - Senior Vice President, Investor RelationsNick Tressler - CFOShawn K. Singh - President and CEOConference Call ParticipantsAndrew Fein - Managing Director and Senior Biotechnology AnalystNone - AnalystNone - AnalystOperatorGood day, everyone. Thank you for standing by. Welcome to the Vistagen Therapeutics Fiscal Year 2026, third qua ...

Financial Data and Key Metrics Changes - Revenue in Q1 of fiscal 2026 increased more than four times to $21.4 million compared to $4.6 million in Q1 of fiscal 2025 [16] - Gross margin increased significantly to 78.6% in Q1 of fiscal 2026 from 24.5% in Q1 of fiscal 2025, primarily driven by staking revenue from the Solana treasury strategy [16] - Net loss for Q1 of fiscal 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 of fiscal 2025, largely due to a decline in the fair value of SOL holdings [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana as of December 31, 2025, with over 99% staked, generating a staking yield between 6.5% and 7.2% [13] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 as of December 31, 2025, representing a growth of roughly 13% in the fiscal first quarter [14] Market Data and Key Metrics Changes - Solana continues to lead in decentralized exchange trading volumes, active users, and developer engagement, demonstrating resilience and performance [6][7] - Institutional engagement has expanded significantly, with major financial institutions integrating Solana into their operations, such as WisdomTree launching regulated tokenized funds on Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by engaging directly in economic activities on-chain rather than relying solely on passive exposure [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes that Solana is now being evaluated based on actual performance rather than theoretical scalability [6] - The company believes that the opportunity in front of Solana is increasingly clear, with significant growth in stablecoins, payments, and DeFi applications [7] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, allowing eligible non-US holders to use tokenized shares as collateral in DeFi [8][9] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings, allowing for efficient deployment of staked SOL [9][10] Q&A Session Summary Question: How has the company navigated recent token price volatility? - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet to avoid risks faced by competitors [19][20] Question: What is the company's approach to potential M&A? - The company is looking for accretive acquisitions and is well-positioned to capitalize on opportunities due to its lack of institutional debt, allowing it to play offense in a dislocated market [23][24] Question: How should shareholders view SOL per share as a performance metric? - Management indicated that SOL per share growth is a key performance indicator, with a target to consistently generate returns greater than the staking yield [24] Question: What factors influence capital allocation decisions? - The company evaluates capital allocation based on market conditions, trading premiums or discounts, and the relative value of potential M&A opportunities [38][39] Question: How do staking yields trend with network usage? - Management clarified that increased validator participation does not impact yields for stakers, and as network activity grows, yields are expected to increase due to higher transaction fees [43][44]

Procore Technologies (NYSE:PCOR) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAdam Borg - Managing Director - Equity ResearchAjei Gopal - President and CEOAlexandra Geller - Head of Investor RelationsDavid Hynes - Managing Director, Equity Research - Enterprise SoftwareHoward Fu - CFOKen Wong - Managing Director - Software ResearchMatthew Martino - VP, Equity Research - SoftwareSaket Kalia - Managing Director - Security, Design, and Vertical SoftwareConference Call ParticipantsDyl ...

Bio-Rad Laboratories (NYSE:BIO) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsEdward Chung - VP of Investor RelationsJon DiVincenzo - President and COONorman Schwartz - CEORoop Lakkaraju - EVP and CFOConference Call ParticipantsDan Leonard - Managing Director and Senior Equity Research AnalystJack Meehan - Partner and Senior Equity Research AnalystTycho Peterson - Managing Director and Senior Equity Research AnalystOperatorGood day, everyone, and welcome to the Bio-Rad fourth quart ...

Fortune Brands Innovations (NYSE:FBIN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsCurt Worthington - VP of Finance and Investor RelationsJon Baksht - CFONick Fink - CEOPhil Ng - Managing DirectorStephen Kim - Senior Managing Director and Head of the Housing Research TeamSusan Kilsby - Non-Executive Chair of the BoardConference Call ParticipantsJohn Lovallo - Managing Director and Senior Equity AnalystMatthew Bouley - Director and Senior Equity Research AnalystMichael Rehaut - Ma ...

JFrog (NasdaqGS:FROG) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Sherman - DirectorBrian Essex - Executive DirectorEamon Coughlin - VP in Software Equity ResearchEd Grabscheid - CFOJason Ader - Partner and Co-Group Head of Technology, Media, and CommunicationsJeffrey Schreiner - Head of Investor RelationsJonathan Ruykhaver - Managing DirectorMiller Jump - Equity Research AssociateOscar Saavedra - Equity Research Associate in SoftwareRadi Sultan - Director in Software Equi ...

Roku (NasdaqGS:ROKU) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAnthony Wood - Founder and CEOCharlie Collier - President, Roku MediaDan Jedda - CFO and COOJason Helfstein - Head of Internet ResearchMatthew Condon - Director Equity Research - InternetConference Call ParticipantsCory Carpenter - Internet & Video Games Equity Research AnalystLaura Martin - Media Research AnalystMichael Morris - Managing Director and Senior Equity Research AnalystRob Sanderson - Managing Director, ...

Financial Data and Key Metrics Changes - Twilio reported record revenue of $1.4 billion in Q4 2025, representing a 14% year-over-year increase on a reported basis and 12% on an organic basis [5][13] - For the full year, revenue reached $5.1 billion, reflecting a 14% reported growth and 13% organic growth [13] - Non-GAAP income from operations for Q4 was $256 million, up 30% year-over-year, while for the full year, it was $924 million, a 29% increase [14][17] - Free cash flow in Q4 was $256 million, and for the full year, it was $945 million, up 44% year-over-year [5][14] - The company achieved its first full year of GAAP profitability with $158 million in GAAP income from operations [14] Business Line Data and Key Metrics Changes - Voice revenue growth accelerated to the high teens in Q4, driven by strong growth from voice AI customers, which saw revenue growth above 60% year-over-year [14][16] - Messaging revenue growth was solid, aided by high volumes during Cyber Week and the holiday season [14] - Software add-on revenue grew over 20% year-over-year, with Verify growing more than 25% for the second consecutive quarter [15] - Self-serve revenue grew 21% for the full year, while ISV revenue grew 24% [15] Market Data and Key Metrics Changes - The number of large deals closed (over $500,000) increased by 36% year-over-year in Q4 [7] - During Cyber Week, Twilio sent 6.99 billion messages, a 34.5% year-over-year increase, handled 1.07 billion calls (up 58% year-over-year), and processed 75.1 billion emails, a 14.6% increase year-over-year [9] Company Strategy and Development Direction - Twilio aims to be a foundational infrastructure layer in the age of AI, moving beyond just providing communication channels [6][12] - The company is focused on delivering essential infrastructure powered by contextual data and evolving automation, such as Voice AI, to help customers build personalized relationships [7][12] - A strategic partnership with AEG was signed to enhance real-time, personalized communications for live events [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain momentum into 2026, supported by a robust innovation roadmap [12][23] - The company anticipates reported revenue growth of 11.5%-12.5% and organic revenue growth of 8%-9% for the full year 2026 [21] - Management noted that while pass-through fees from U.S. carriers will impact margin rates, they will not affect the ability to generate profit dollars [22] Other Important Information - Twilio's stock-based compensation as a percentage of revenue decreased to 11.3% in Q4, down 180 basis points year-over-year [18] - The company completed $198 million in share repurchases in Q4 and $855 million for the full year, representing 90% of 2025 free cash flow [18][19] Q&A Session Summary Question: What drove the voice strength in Q4? - Management noted broad adoption of voice across customer cohorts, with significant strength in self-service and ISV communities [27][28] Question: Can you provide visibility on the Q1 guidance? - Management expressed confidence in the Q1 guidance, citing broad-based strength across products and sales channels [30][31] Question: What is driving the growth in messaging? - Management indicated broad-based strength across multiple products, contributing to messaging growth [42] Question: How is Twilio positioned regarding RCS adoption? - Management acknowledged rapid growth in RCS, emphasizing its potential for marketing-oriented use cases and high open rates [46][48] Question: What differentiates Twilio from competitors? - Management highlighted Twilio's differentiated technology, strong developer experience, and continuous innovation as key competitive advantages [51][52]

Ryan Specialty Group (NYSE:RYAN) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndrew Kligerman - Managing DirectorBrian Meredith - Managing DirectorElyse Greenspan - Managing DirectorJanice Hamilton - CFOMatthew Heimermann - Managing DirectorMeyer Shields - Managing DirectorMiles Wuller - CEO of Underwriting ManagersPat Ryan - Founder and Executive ChairmanRob Cox - VP of Equity ResearchTim Turner - CEOConference Call ParticipantsAlex Scott - Equity Research AnalystOperatorGood af ...

XP (NasdaqGS:XP) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAndré Parize - Investor Relations OfficerAntonio Reale - Co-Head of European Banks Equity ResearchGustavo Schroden - Sell Side Equity Research DirectorJérémy Caspar - Equity Research AssociateThiago Maffra - CEOTito Labarta - VPVictor Mansur - CFOConference Call ParticipantsDaniel Vaz - Lead Research AnalystEduardo Rosman - Senior Equity Research AnalystMarcelo Mizrahi - Equity Research AnalystPedro Leduc - Equity Resea ...