Earnings Call Transcripts
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All Earnings Calls
Planet 13 Holdings Q4 2025 Earnings Call - Stabilization in Q4, 2026 pivot to positive cash flow after California exit and Nevada cuts
Planet 13 reported a stabilizing quarter as restructuring and portfolio cleanup began to show through the numbers. Revenue rose sequentially 8% to $25.2 million, retail drove the improvement and gross...
- Sequential revenue improvement, total Q4 revenue $25.2 million, up roughly 8% from Q3 ($23.3 million).
- Retail stabilization: SuperStore and neighborhood network combined $23.2 million vs $21.3 million in Q3; SuperStore (including DAZED) $9.2 million, essentially flat with Q3 despite F1 disruption.
- Florida momentum: Neighborhood stores generated $14 million with Florida at $10.3 million, though that figure included a one-time loyalty accrual adjustment; excluding California, non-SuperStore neighborhood stores grew about 8% sequentially.
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Health In Tech Q4 2025 Earnings Call - AI underwriting scales, revenue +71% and 2026 guide $45M-$50M
Health In Tech closed its first public year with a clear growth story and a product pitch: revenue surged 71% to $33.3 million in 2025, driven by distribution expansion, platform upgrades and program ...
- 2025 was Health In Tech’s first year as a public company, with full-year revenue up 71% to $33.3 million and Q4 revenue up 53% to $7.5 million.
- Company provided 2026 revenue guidance of $45 million to $50 million, implying roughly 35% to 50% year-over-year growth versus 2025.
- Management attributes growth to three drivers: distribution expansion, platform advancement (eDIYBS), and program innovation (Three-Year Rate Stabilization).
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Navan Q4 FY2026 Earnings Call - AI-fueled GBV acceleration and first-time free cash flow positivity
Navan closed FY2026 with clear operational momentum. Q4 revenue was $178 million, up 35% year over year, while gross booking value hit $2.3 billion, up 42%. Management pointed to strong PLG and SLG dy...
- Q4 revenue $178 million, up 35% year over year; GBV $2.3 billion, up 42% year over year.
- Management reported record customer experience metrics: NPS 47 and CSAT 96 in Q4, which they present as proof of product-market fit.
- Navan turned free cash flow positive for the first time, one year ahead of its plan.
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MillerKnoll Q3 FY2026 Earnings Call - Contract strength and debt reduction offset weather; Middle East conflict to cost ~$0.09-$0.10 EPS in Q4
MillerKnoll delivered a solid Q3 FY2026 with sales of $927 million, orders of $932 million, and operating leverage in North America Contract that drove gross margin expansion. The company generated $6...
- Consolidated net sales $927 million, up 5.8% year over year, organic sales up 3.8%.
- Quarterly orders $932 million, up 9.2% reported and 7.2% organically; backlog $712 million, up 3.7% year over year.
- Adjusted EPS of $0.43 in Q3, versus $0.44 a year ago.
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SeaStar Medical Q4 2025 Earnings Call - Pivotal adult AKI trial passes midpoint as company pushes for modular PMA
SeaStar Medical closed 2025 with early commercial traction in pediatrics and a high-stakes pivot toward a much larger adult acute kidney injury market. QUELIMMUNE generated $1.1 million in 2025 revenu...
- NEUTRALIZE-AKI pivotal trial is 181 of 339 enrolled, just over 50% complete, with target enrollment completion around year-end 2026 and potential top-line results mid-2027.
- Primary endpoint of NEUTRALIZE-AKI is a composite of 90-day mortality or dialysis dependence; trial tests up to ten sequential 24-hour SCD treatments in CRRT patients.
- Company pursuing a modular PMA submission strategy for the adult AKI indication and has FDA Breakthrough Device Designation to potentially accelerate review.
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WidePoint Corporation Q4 2025 Earnings Call - CWMS 3.0 Delays Persist, SaaS/DaaS Carrier Win Poised to Drive Margin Lift
WidePoint spent most of the call steadying nerves around a delayed DHS recompete while pointing to tangible commercial progress that can actually move the needle. Management framed CWMS 3.0 timing as ...
- CWMS 3.0 award remains delayed due to government and DHS funding and leadership disruptions; management insists delays are timing issues, not a change in competitive standing.
- WidePoint received a 6-month extension under CWMS 2.0 (2-month base plus four 1-month options), providing DHS flexibility through May 2026 and roughly $80 million of remaining contract ceiling under CWMS 2.0.
- Management expects some form of DHS update by mid-Q2 2026, either an award or another extension, and says the company is positioned to win the CWMS 3.0 recompete if/when it is announced.
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Marchex Q4 2025 Earnings Call - Platform Migration Complete, Betting on AI Bundles and Archenia to Re-accelerate Revenue
Marchex closed out 2025 having completed a multi-quarter migration of roughly 1,000 customers to its new Engage platform, a move that caused near-term revenue dilution but, management says, unlocks AI...
- Q4 2025 revenue was $10.8 million, down from $11.5 million in Q3 2025, with management attributing the decline primarily to migration-related revenue dilution from platform moves.
- Marchex completed the primary phase of its technology platform migration by year-end, moving about 1,000 customers to the new Engage platform, which management says enables faster AI product development and rollout.
- Management frames AI as the core growth engine, aiming to sell bundled solutions that link insights, automated actions, and verifiable outcomes across key verticals like auto services and home services.
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Celcuity Inc. Fourth Quarter and Full Year 2025 Earnings Call - NDA accepted, VIKTORIA-1 wild-type results position gedatolisib for approval and commercial launch
Celcuity closed 2025 with an NDA accepted under the FDA Real-Time Oncology Review program and a PDUFA date of July 17, 2026, riding on striking phase III VIKTORIA-1 results in the PIK3CA wild-type coh...
- FDA accepted Celcuity's NDA for gedatolisib under the Real-Time Oncology Review program, PDUFA date July 17, 2026.
- VIKTORIA-1 PIK3CA wild-type cohort reported median PFS 9.3 months with gedatolisib triplet versus 2.0 months for fulvestrant, hazard ratio 0.24.
- Gedatolisib triplet showed a 17.5 month median duration of response and a 31% incremental increase in objective response rate versus control.
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Modiv Industrial Q4 2025 Earnings Call - Recycling the Portfolio, Targeting a Pure-Play Manufacturing REIT in 24 Months
Modiv reported a steady quarter on headline metrics, with rental income down modestly to $11.0 million and AFFO roughly flat at $4.0 million, but AFFO per share fell to $0.32 as share dilution acceler...
- Q4 rental income was $11.0 million, down from $11.7 million year-over-year, largely due to lease expirations including Costco (Issaquah) and Solar Turbines (San Diego).
- Adjusted funds from operations, AFFO, was $4.0 million in Q4 2025 versus $4.1 million a year earlier; AFFO per share fell to $0.32 from $0.37 due primarily to a 1.7 million increase in diluted shares outstanding.
- Share count increased from operating partnership unit issuances, ATM activity, and the DRIP, which materially pressured AFFO per share despite stable aggregate cash flow.
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Karman Space & Defense Q4 FY2025 Earnings Call - Raises 2026 Guide as Backlog Tops $1B, Doubles Down on Capacity and M&A
Karman closed FY2025 with record revenue and profitability, then pushed the accelerator. Q4 revenue hit $134 million (FY $472 million), gross margin was 40%, adjusted EBITDA reached $145 million for t...
- Company reported record Q4 revenue of $134 million and full-year revenue of $472 million, with full-year gross profit $190 million (40% margin) and adjusted EBITDA $145 million.
- Management raised FY2026 guidance to $715M–$730M revenue and $207M–$218M adjusted EBITDA, implying ~53% revenue growth year‑over‑year and ~46% adjusted EBITDA growth.
- Backlog exited FY2025 at $801 million and expanded to more than $1 billion by March 20, 2026, providing approximately 80% visibility to the midpoint of 2026 guidance.
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