Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Emerald Holding Q4 and Full Year 2025 Earnings Call - Portfolio reshaped for cash-generative growth
Emerald closed a transformational 2025, reshaping its portfolio through three strategic acquisitions and exits, and delivered revenue of $463.4 million and adjusted EBITDA of $127.1 million for the ye...
- 2025 was positioned as transformational, driven by portfolio reshaping and targeted tuck-in acquisitions: This is Beyond, InsurTech Insights, and Generis.
- Full year 2025 revenue was $463.4 million, up 16.2% year-over-year, with adjusted EBITDA of $127.1 million, a 25% increase versus prior year.
- Reported organic revenue growth for full year 2025 was 1.1%. On a pro forma basis including 2025 acquisitions, organic revenue would have been up 4.8% for the year.
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Acurx Pharmaceuticals Q4 2025 Earnings Call - Ibezapolstat enters rCDI pilot aiming to both treat and prevent recurrence
Acurx used the quarter to shift from promising proof points to an operational push, launching a 20-patient open-label pilot in recurrent C. difficile infection that is explicitly designed to position ...
- Acurx has launched a 20-patient open-label pilot in recurrent C. difficile infection, intended to inform a planned active-controlled phase 3 in rCDI.
- Primary efficacy endpoint for recurrence will be measured at 8 weeks, with additional follow-up out to about 6 months for durability data.
- Treatment period in the rCDI pilot is 14 days, longer than prior 10-day regimens, aimed at boosting initial cure rates and powering recurrence analysis.
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RLX Technology Inc. Q4 2025 Earnings Call - International sales 76.5% of revenue, fueling margin expansion and $2.2B cash
RLX closed 2025 with a clean, fast-growing story. Q4 net revenue rose 40.3% year over year to RMB 1.14 billion, and full-year revenue grew 44% to RMB 3.96 billion. Management’s game this year was glob...
- Q4 2025 net revenues RMB 1.14 billion, up 40.3% year-over-year; full-year revenues RMB 3.96 billion, up 44%.
- International sales were 76.5% of Q4 revenue, marking RLX’s transition to a truly global company.
- Gross margin expanded to 31.4% in Q4 from 27% a year ago, full-year gross margin rose to 29.9%.
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Douglas Elliman Q4 2025 Earnings Call - Profitability Restored via Property Management Sale; Adjusted EBITDA Still Negative
Douglas Elliman closed 2025 with a cleaner balance sheet and a headline-grabbing net income helped by the October sale of its property management business. Revenue climbed modestly to $1.033 billion, ...
- Headline profitability in 2025 was materially supported by an $81.7 million gain from the October sale of the property management business.
- Revenue for 2025 rose 3.8% year-over-year to $1.033 billion; excluding the disposed business, revenues increased 4.4% to $1.0 billion.
- Operating income turned positive at $45.5 million in 2025 versus an operating loss of $68.8 million in 2024, but this includes the divestiture gain.
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WM Technology, Inc. Q4 2025 Earnings Call - Cash build and discipline cushion revenue pressure
Weedmaps closed 2025 with a tale of two realities. Top line weakened as industry headwinds—pricing compression, illicit market competition, and heavy excise taxes—dented spend from core clients, drivi...
- Q4 2025 revenue was $43 million, down approximately 10% year‑over‑year.
- Full year 2025 revenue was $175 million, a decline of about 5% versus 2024.
- Adjusted EBITDA for 2025 was $40 million, modestly below 2024’s $43 million.
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PagerDuty, Inc. Q4 FY2026 Earnings Call - AI Operations and Flex Pricing Fuel Enterprise Wins as ARR Stabilizes
PagerDuty closed FY2026 with stabilized ARR near $499 million, expanding margins and a bold repositioning toward AI operations and consumption-based pricing. Q4 delivered $125 million in revenue, 24% ...
- Revenue $125 million in Q4, up 3% year-over-year, with FY2026 revenue nearly $493 million, up 5% YoY.
- Total ARR exited Q4 at approximately $499 million, effectively flat year-over-year, signaling stabilization rather than re-acceleration.
- PagerDuty reported its first full year of GAAP profitability; Q4 GAAP net income was $11 million and FY GAAP net income was $174 million, the latter including a one-time $169 million tax benefit from release of a valuation allowance.
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Afya Q4 2025 Earnings Call - Record cash and margins, but 2026 guidance flags margin compression as company invests to build a physician ecosystem
Afya closed 2025 with headline numbers that read like a strategy checkmark. Revenue reached BRL 3.697 billion, adjusted EBITDA hit BRL 1.68 billion and margins expanded to 45.4%, while operating cash ...
- 2025 revenue was BRL 3,697 million, up 12% year-over-year, in line with midpoint guidance.
- Adjusted EBITDA for the twelve months reached BRL 1,680 million, up 15% year-over-year, producing a record adjusted EBITDA margin of 45.4% (up 130 bps).
- Operating cash flow was BRL 1,548 million for the year, a 6% increase, with operating cash conversion of 93.7%.
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American Public Education Inc. 4Q 2025 Earnings Call - Revenue and Margins Improved Despite APUS TA Freeze, Institutional Combination and Campus Expansion Set 2026 Up
APEI closed 2025 with a clear message, not bravado. The company grew consolidated revenue and expanded adjusted EBITDA despite a 43-day federal TA registration interruption at APUS that shaved roughly...
- Consolidated 2025 revenue was $648.9 million, up 3.9% year over year, and would be roughly 7% growth on an apples to apples basis excluding Graduate School USA.
- Full year adjusted EBITDA rose to $85.7 million, up 18.6% from 2024, and adjusted EBITDA margin expanded 164 basis points to 13.2%.
- APUS faced a 43‑day federal government shutdown interruption that depressed Q4 TA registrations, driving APUS Q4 revenue down 13.8% to $71.0 million and net course registrations down 15.3% to 82,200.
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EverCommerce Q4 2025 Earnings Call - AI-First Push and ZyraTalk Drive Product Momentum
EverCommerce closed 2025 with steady top-line growth, expanded margins, and a clear strategic pivot to AI-first productization. Q4 revenue of $151.2 million beat guidance, adjusted EBITDA held at $44....
- Q4 2025 revenue was $151.2 million, up 5.2% year over year, beating the midpoint of guidance.
- Q4 adjusted EBITDA was $44.2 million, flat year over year, yielding a 29.2% adjusted EBITDA margin.
- Adjusted gross profit for Q4 was $117.0 million, with an adjusted gross margin of 77.5%.
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Ascend Wellness Holdings Q4 2025 Earnings Call - Densification and cost cuts hold margins amid relentless price compression
Ascend closed 2025 with a playbook that reads like damage control and discipline. Revenue fell to $500.6 million for the year, but management leaned into densification, verticalization, and a $30 mill...
- Q4 2025 revenue $120.5 million, down 3.4% sequentially; full-year 2025 revenue $500.6 million, down 10.9% year-over-year.
- Q4 Adjusted EBITDA $30.2 million, margin 25.1% (up 20 basis points sequentially); full-year Adjusted EBITDA $116.9 million, margin 23.4%.
- Retail first strategy: retail made up ~70.5% of Q4 revenue; retail sales $85.0 million in Q4, up 1.4% quarter-over-quarter.
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