Madrigal Pharmaceuticals (NasdaqGS:MDGL) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsBill Sibold - CEODavid Soergel - CMOMardi Dier - CFOTina Ventura - Chief Investor Relations OfficerYasmeen Rahimi - 5-star analyst and MdConference Call ParticipantsAlex Thompson - AnalystEllie Merle - Senior Biotech Equity Research AnalystJay Olson - Md and Senior Biotechnology AnalystJonathan Wolleben - Md and Senior Research AnalystManoj Garg - AnalystMichael DiFiore - Equity Research AnalystP ...

Financial Data and Key Metrics Changes - In 2025, the company produced just over 2 million ounces of gold, achieving a 66% increase in margins compared to a 43% increase in gold prices, resulting in record free cash flow generation of $769 million in Q4 and $2.5 billion for the full year [4][5] - The cost of sales for Q4 was $1,289 per ounce, with all-in sustaining costs at $1,825 per ounce, which were higher than the previous quarter due to increased gold prices and lower planned production [12] - Full-year cost of sales was $1,135 per ounce, and all-in sustaining costs were $1,571 per ounce, in line with guidance despite higher royalties [13] Business Line Data and Key Metrics Changes - Tasiast and Paracatu mines together accounted for approximately 1.1 million ounces of production, with Paracatu exceeding 600,000 ounces and Tasiast being the highest margin operation [5][21] - La Coipa met full-year production guidance with a total of 232,000 ounces, while U.S. assets collectively produced 676,000 ounces at a cost of sales of $1,426 per ounce [24][25] Market Data and Key Metrics Changes - The company expects production to remain around 2 million ounces through the end of the decade, supported by higher-grade mining at Tasiast and new U.S. projects [9] - Cost guidance for 2026 is set at $1,360 per ounce for cost of sales and $1,730 per ounce for all-in sustaining costs, reflecting a 10% increase compared to 2025 due to higher royalties and inflation [16] Company Strategy and Development Direction - The company is proceeding with construction of three high-quality organic growth projects to extend mine life and enhance long-term costs [7] - A disciplined capital allocation strategy will be maintained, focusing on reinvesting in operations while returning approximately 40% of free cash flow to shareholders through dividends and share repurchases [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook, emphasizing strong operational performance and cash flow generation, alongside a commitment to responsible mining and sustainability [46] - The company anticipates higher costs due to inflation and royalties but aims to maintain cost discipline [10] Other Important Information - The company ended the year with approximately $1 billion in net cash and received a credit rating upgrade from Moody's to Baa2 [14][15] - Sustainability initiatives included a 1.5% reduction in greenhouse gas emissions and support for health clinics in Mauritania [11] Q&A Session Summary Question: On Great Bear, the One Project One Process designation - Management confirmed that the designation streamlines the provincial permitting process and enhances relationships with the provincial government, facilitating project advancement [50][51] Question: 2026 cost guidance breakdown - The increase in all-in sustaining costs is primarily due to inflation and higher royalties, with a smaller portion attributed to mine plan sequencing [54] Question: Capital allocation and cash returns - The company prefers buybacks over special dividends for capital returns, aiming to reduce share count and improve per-share metrics [59][60] Question: Updates on Great Bear and Lobo-Marte - Management clarified that updates will focus on ongoing permitting and milestones rather than a new technical study [84] Question: Labor contract renewals - Ongoing negotiations for the Paracatu contract are in progress, with inflation impacts varying by country [82]

Financial Data and Key Metrics Changes - In Q4 2025, total revenue increased by 12% year-over-year on an organic basis, excluding cyclical revenue from political campaign messaging [15][16] - For the full year 2025, total revenue reached $754 million, up 10% organically year-over-year, with a non-GAAP gross margin of 58% and adjusted EBITDA of $93 million [16][19] - Free cash flow for 2025 was $57 million, significantly exceeding the cumulative target of $125 million set for 2026 [7][19] Business Line Data and Key Metrics Changes - Voice segment achieved 11% year-over-year growth driven by increased usage and adoption of voice-based AI applications [15][16] - Messaging segment saw an organic growth of 12% year-over-year, primarily due to robust holiday messaging demand [15][16] - The enterprise voice customer category grew by 21% in 2025, supported by a record number of million-dollar-plus deals [16][17] Market Data and Key Metrics Changes - The company noted strong demand across both voice and messaging markets, with healthy execution contributing to confidence in future growth [8][18] - The political campaign contribution to revenue is expected to be approximately 2.5% of cloud communications revenue for 2026, with monitoring ongoing [32][34] Company Strategy and Development Direction - The company is focused on high-margin innovation, particularly in AI voice tools and orchestration software, which are seen as critical for future growth [6][9] - A share repurchase program of up to $80 million was authorized, reflecting confidence in the business model and cash generation capabilities [8][24] - The company aims for a 15%-20% revenue compound annual growth rate through 2026, with specific targets for gross margin, EBITDA margin, and free cash flow [7][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upward trajectory of the business, despite market dynamics potentially impacting revenue growth [6][7] - The company anticipates continued growth in voice driven by AI applications and large deal activity, projecting a total revenue growth of approximately 16% year-over-year for 2026 [18][19] - Management highlighted the importance of customer relationships and the durability of the business model, with a customer retention rate above 99% [20][21] Other Important Information - The number of third-party conversational AI developers building on the company's platform has quadrupled over the past six months, indicating strong momentum [13] - The company is positioned at the intersection of enterprise communications and AI, with a robust infrastructure to support future innovations [14][26] Q&A Session Summary Question: Insights on Enterprise Voice segment growth - Management acknowledged a slight tick down in Q4 growth rates but expressed optimism for continued healthy growth in 2026 driven by large deals [30] Question: Political contribution to revenue - Management indicated that political campaign contributions are expected to be around 2.5% of cloud communications revenue for 2026, with ongoing monitoring [32][34] Question: Dynamics between cloud communication growth and total revenue growth - Management explained the difference is due to carrier messaging surcharges, which are expected to increase due to recent price hikes from carriers [38][43] Question: Competitive landscape with Twilio - Management noted that recent customer wins were not influenced by Twilio, highlighting competitive advantages over other carriers [46][47] Question: Details on the insurance example and Google AI integration - Management elaborated on the integration of Google AI within a complex Cisco environment, emphasizing the value of their orchestration platform [51] Question: AI's impact on the business and competitive moats - Management described AI as a significant tailwind for the business, with strong infrastructure and customer relationships serving as competitive advantages [53][54] Question: Pipeline for voice AI and its revenue impact - Management indicated that 2026 is expected to be a pivotal year for AI adoption in voice, with significant revenue implications [58][59] Question: Composition of million-dollar-plus deals - Management confirmed that the number of million-dollar-plus deals in 2025 exceeded previous years, driven by an expanded product portfolio and customer demand for AI integration [60][61]

Americold Realty Trust (NYSE:COLD) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsBrendan Lynch - DirectorMichael Carroll - Managing DirectorNick Joseph - Head of U.S. Real Estate and Lodging Research TeamRich Leland - VP of Finance, Investor Relations, and Corporate TreasurerRob Chambers - CEOSamir Khanal - Director of U.S. REITsScott Henderson - EVP, Chief Investment Officer, and Interim CFOVince Tibone - Managing Director and Head of U.S. Industrial and Mall ResearchConference Ca ...

Endava (NYSE:DAVA) Q2 2026 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsAntonio Jaramillo - VP of Equity ResearchBryan Bergin - Managing DirectorJohn Cotterell - CEOJonathan Lee - Managing Director of Equity ResearchLaurence Madsen - Head of Investor Relations and ESGMark Thurston - CFOPuneet Jain - Equity Research AssociateOperatorGood day, and welcome to the Endava second quarter 2026 results. All participants will be in listen-only mode. Should you need assistance, please signal a conf ...

Praxis Precision Medicines (NasdaqGS:PRAX) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsDan Ferry - VP of Investor RelationsMarcio Souza - President and CEOTim Kelly - CFOConference Call ParticipantsAmi Fadia - AnalystAndrew Tsai - AnalystAthena Chin - AnalystBenjamin Burnett - AnalystBrian Skorney - AnalystDavid Hoang - Equity AnalystDouglas Tsao - AnalystFrancois Brisebois - AnalystJay Olson - AnalystJoon Lee - AnalystJustin Walsh - AnalystKambiz Yazdi - AnalystYasmin Rahimi - S ...

Gold Fields (NYSE:GFI) H2 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsAdrian Hammond - Executive DirectorAlex Dall - CFOChris Gratias - EVP of Strategy, Planning and Corporate DevelopmentJongisa Magagula - EVP of Investor Relations and Corporate AffairsMike Fraser - CEOConference Call ParticipantsChris Nicholson - Equity AnalystRené Hochreiter - Partner and AnalystMike FraserGood afternoon, good morning, and good evening for those that have joined the presentation of our financial y ...

Financial Data and Key Metrics Changes - Gentherm reported record revenue of $1.5 billion for 2025, an increase of 2.9% compared to the prior year, or 1.8% when excluding foreign currency translation [14] - Adjusted EBITDA for 2025 was $175 million, representing 11.7% of sales, down from 12.6% the previous year due to higher material costs and expenses related to footprint realignment [15] - Operating cash flow increased by 7% to $117 million, despite building inventory throughout the year [15] Business Line Data and Key Metrics Changes - Automotive climate and comfort solutions revenue increased by 5.8% excluding foreign exchange effects, while other automotive products saw a decline of $28 million due to planned exits [15] - The company generated a commercial funnel totaling over $300 million in lifetime revenue from markets outside of light vehicles, indicating strong growth potential in adjacent markets [8] Market Data and Key Metrics Changes - Fourth quarter climate and comfort solutions revenue outgrew light vehicle production by 820 basis points, demonstrating strong global performance across product categories [15] - The company expects light vehicle production in key markets to decrease by approximately 1% in 2026, positioning Gentherm to grow above market by mid-single digits [17] Company Strategy and Development Direction - Gentherm is focused on expanding its technology applications beyond automotive, with a strategic realignment of its footprint expected to continue through 2026 [4] - The planned combination with Modine Performance Technologies is anticipated to create a $2.6 billion market leader, with a goal to grow revenue to over $3.5 billion by 2030 [7][21] - The company aims to leverage its core technologies to drive growth in new markets, including medical and home and office sectors, with a focus on wellness trends [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, emphasizing that 2025 financial results do not reflect Gentherm's potential [5] - The company is optimistic about the impact of new product launches and adjacent market contributions, particularly in medical and home and office sectors [32][44] - Management highlighted the importance of operational rigor and cash flow generation as key priorities moving forward [16] Other Important Information - Gentherm's combination with Modine Performance Technologies is expected to unlock significant value creation opportunities, including cost synergies and enhanced market access [22][24] - The company anticipates that the new Thermafix system will begin generating revenue later this year, contributing to the medical segment's growth [10] Q&A Session Summary Question: Adjacent end markets and revenue expectations - Management confirmed they will continue to pursue adjacent markets, expecting home and office to contribute $50 million to $100 million in revenue by 2028, with margins above those in light vehicles [32] Question: Footprint realignment timing and EBITDA expectations for 2027 - Management stated that the footprint transitions remain on track for completion in 2026, with benefits expected to flow through in 2027, leading to improved margins [36] Question: Revenue confidence for 2027 - Management expressed confidence in the 2027 revenue outlook due to strong launch activity in core automotive and contributions from adjacent markets [44]

LKQ (NasdaqGS:LKQ) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsJoe Boutross - VP of Investor RelationsJustin Jude - President and CEORick Galloway - Senior VP and CFOConference Call ParticipantsBret Jordan - Equity Research AnalystCraig Kennison - Senior AnalystGary Prestopino - Equity Research AnalystJash Patwa - Equity Research AnalystJohn Babcock - Equity Research AnalystScott Stember - Senior Research AnalystNone - AnalystOperatorHello, everyone, and thank you for joining the ...

Bandwidth (NasdaqGS:BAND) Q4 2025 Earnings call February 19, 2026 08:00 AM ET Company ParticipantsArjun Bhatia - Co-Group Head for Technology, Media, and CommunicationsDaryl Raiford - CFODavid Morken - Chairman and CEOJohn Bell - Chief Product OfficerPatrick Walravens - Managing Director and Director of Technology ResearchSarah Walas - VP of Investor RelationsConference Call ParticipantsErik Suppiger - Senior Research AnalystJoshua Reilly - Senior Research AnalystOperatorGood day, and welcome to the Bandwid ...