Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Definitive Healthcare Q4 2025 Earnings Call - Claims Data Restored; Revenue Down, Margins Held
Definitive Healthcare closed 2025 with revenue slightly below prior year but with stronger profitability and cash generation. Q4 revenue was $61.5 million, down 1% year-over-year, while adjusted EBITD...
- Q4 2025 revenue was $61.5 million, down 1% year-over-year, finishing the year at $241.5 million, a 4% decline versus 2024.
- Adjusted EBITDA for Q4 printed around $18 million, implying a roughly 29% adjusted EBITDA margin; management emphasizes disciplined expense control.
- Trailing twelve month unlevered free cash flow was about $54.9 million, reflecting strong cash conversion despite top-line pressure.
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Clover Health Fourth Quarter 2025 Earnings Call - Targets first full-year GAAP profit in 2026 as cohorts mature
Clover closed 2025 having proved the math: Adjusted EBITDA profitability, rapid membership growth, and controlled medical cost trends despite industry-wide utilization pressure. Management stressed th...
- Clover achieved full-year Adjusted EBITDA profitability in 2025, delivering $22 million of Adjusted EBITDA and $20 million of adjusted net income for the year.
- Medicare Advantage membership rose 38% year-over-year to ~114,000 at year-end 2025; average membership grew ~33% for the year and 53% YoY growth was reported during AEP.
- Management emphasizes they retain full underwriting risk, so first-year new-member dilution is absorbed by Clover, with profitability improving materially as cohorts age.
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The RealReal 4Q 2025 Earnings Call - AI and Mix Shift Turn Scale into Profitability
The RealReal closed 2025 with clear momentum: Q4 GMV hit $616 million, lifting full-year GMV to $2.13 billion, and the company posted its first year of consistent quarterly positive Adjusted EBITDA. M...
- Q4 2025 GMV $616 million, up 22% year-over-year; full-year GMV $2.13 billion, up 16% year-over-year and the first full year exceeding $2 billion.
- Q4 total revenue $194 million, up 18% year-over-year; full-year revenue $693 million, up 15% year-over-year.
- Company achieved positive Adjusted EBITDA in every quarter of 2025; Q4 Adjusted EBITDA $22 million, or 11.3% of revenue, and full-year Adjusted EBITDA $42 million, or 6.1% of revenue.
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SoundHound AI Q4 2025 Earnings Call - Agentic AI ramps upsells and fuels record revenue, with a clear path to break-even
SoundHound closed 2025 with a breakout year: full-year revenue nearly doubled to $169.0 million and Q4 revenue hit $55.1 million, up 59% year-over-year. Management emphasized that the new Agentic plat...
- Record year: FY2025 revenue nearly doubled to $169.0 million; Q4 revenue $55.1 million, up 59% year-over-year.
- Q4 deal momentum: Management signed over 100 customer deals in the quarter, the largest quarter on record for new logos and renewals.
- Agentic platform is the engine: Upgrading customers to the Agentic solution drives higher containment and incremental revenue via price increases and larger volume commitments.
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Cable One Fourth Quarter and Full Year 2025 Earnings Call - Connects Improve, But Net Broadband Subscribers Remain Negative; Mobile and MBI Take Center Stage
Cable One closed 2025 with a clear but incomplete turn. Q4 showed sequential improvement in gross connects and materially fewer disconnects, yet residential broadband net adds stayed negative, with ro...
- Residential broadband net adds remained negative in Q4 2025, with approximately 10,700 residential data customer losses, despite sequential improvement in gross connects and reduced disconnects.
- Total Q4 2025 revenues were $363.7 million, down 6.1% versus Q4 2024; full year 2025 revenues were $1.5 billion, down from $1.58 billion in 2024.
- Adjusted EBITDA for Q4 2025 was $193.9 million, an 8.1% decline year over year, and adjusted EBITDA margin contracted by 120 basis points to 53.3%.
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SBA Communications Q4 2025 Earnings Call - Buybacks and Dividend Up, Growth Steady Despite Churn and Bad-Debt Headwinds
SBA closed 2025 with a tidy quarter: FFO per share of $3.19, a robust Q1 dividend bump to $1.25, and heavy share repurchases that consumed half a billion dollars for the year. Management framed 2026 a...
- Q4 FFO per share was $3.19, and Q4 cash dividend paid was $1.11 per share.
- Board declared Q1 2026 dividend of $1.25 per share, roughly a 13% increase year over year and about 41% of the midpoint of full-year FFO outlook.
- SBA repurchased $213 million in Q4 to retire 1.1 million shares at an average price of $191.07, and repurchased $500 million (2.5 million shares) in 2025; $1.1 billion remains on the buyback authorization.
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Alta Equipment Group Q4 2025 Earnings Call - Equipment Sales Rebound and Deleveraging Set Stage for Service-Led 2026
Alta closed 2025 with a clear tactical pivot. Q4 delivered record equipment sales as inventories began to normalize, competitive discounting eased, and OEM pricing support improved after tariff noise....
- Q4 revenue approximately $509 million, up $11 million year-over-year, driven primarily by higher equipment sales.
- New and used equipment sales totaled about $301 million in Q4, up $13.8 million versus Q4 2024 and up roughly $90 million sequentially from Q3 2025.
- Q4 adjusted EBITDA was $40.6 million, essentially flat year-over-year; full-year 2025 adjusted EBITDA was $164.4 million, down modestly from 2024.
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NuScale Power Q4 2025 Earnings Call - NRC-certified 77 MW SMR momentum drives ENTRA1-TVA 6 GW program progress
NuScale spent 2025 converting design wins into hard operational momentum, with the NRC approving its 77 MW electric standard design and 12 NuScale Power Modules already in production at Doosan. The co...
- NRC Design Certification: The U.S. Nuclear Regulatory Commission approved NuScale's 77 MW electric standard design ahead of schedule, making NuScale the only SMR technology to achieve NRC Design Certification under 10 CFR Part 52.
- ENTRA1-TVA Program: ENTRA1 reached an agreement with TVA to supply up to 6 GW via 72 NuScale Power Modules across six plants, a program NuScale calls the largest nuclear deployment in U.S. history; the PPA is under negotiation and drafting, but not yet publicly executed.
- ENTRA1 Execution Steps: NuScale reports ENTRA1 is assembling an experienced development team, conducting site visits and evaluations, identifying four prospective sites, and engaging major financial institutions, including one that signed a multi-billion dollar term sheet with ENTRA1.
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nLIGHT, Inc. Q4 2025 Earnings Call - A&D Surge Drives Record Revenue and Capital Raise
nLIGHT closed 2025 with a leap in aerospace and defense revenue that reshaped the company. Full year revenue rose 32% to $261 million, A&D hit a record $175 million up 60%, and Q4 revenue was a record...
- Full year 2025 revenue was $261 million, up 32% year-over-year, driven primarily by aerospace and defense growth.
- Aerospace and defense revenue reached a record $175 million in 2025, growing 60% year-over-year, and was the dominant driver of margin expansion.
- Q4 2025 revenue was a record $81.2 million, up 71% year-over-year and 22% sequentially.
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Oportun Financial Q4 2025 Earnings Call - Sustained GAAP profitability, tighter credit now and a cautious return to risk-based pricing
Oportun closed 2025 with tangible operational progress: GAAP profitability returned, credit metrics stabilized, expenses were cut sharply, and the cost of capital materially improved. Management beat ...
- Full-year 2025 GAAP net income was $25 million, with Q4 GAAP net income of $3.4 million.
- Full-year GAAP net income improved by $104 million year-over-year; adjusted EPS grew 89% year-over-year for 2025.
- Q4 annualized net charge-off rate was 12.3%, at the low end of prior guidance; management expects Q1 2026 to be the peak quarterly charge-off rate for the year.
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