Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Whitestone REIT Q4 2025 Earnings Call - Record 94.6% Occupancy and Clear Path to 5%-7% Core FFO Growth
Whitestone closed 2025 with a compact, repeatable playbook: record physical occupancy at 94.6%, Core FFO per share of $1.05, and Same Store NOI growth of 4% for the year. Management is leaning into it...
- Core FFO per share for 2025 was $1.05, up from $0.86 in 2021, implying roughly a 5% CAGR since 2021 per management.
- Management reiterates a long-term Core FFO per share growth target of 5%–7%.
- 2026 guidance: Core FFO per share $1.10–$1.14, Same Store NOI guidance 3%–4.75% (tenant-by-tenant ground-up forecast).
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D-Wave Systems Inc. Q4 FY2025 Earnings Call - Commercial Traction and Dual-Platform Leap with Quantum Circuits Acquisition
D-Wave framed fiscal 2025 as the year quantum computing moved from lab to commerce for the company. Management highlighted a 179% revenue jump to $24.6 million driven by system sales, growing bookings...
- Fiscal 2025 revenue rose 179% year-over-year to $24.6 million, split as $16.2 million systems sales, $5.5 million QCaaS subscription revenue, and $2.7 million professional services.
- Fiscal 2025 bookings were $18.7 million (down from $23.9 million in FY2024 due to a prior large system sale), but post-year-end bookings exceeded $32.8 million, including a $20 million system sale to Florida Atlantic University and a $10 million, two-year enterprise QCaaS deal with a Fortune 100 company.
- Management claims Advantage2 achieved quantum supremacy on a useful, real-world problem, and Advantage2 reached general availability in May 2025; the company is positioning these results as commercial validation for annealing.
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Perimeter Solutions Q4 2025 Earnings Call - Structural Earnings Power Expanded, MMT Acquisition Accelerates Growth While Sauget P2S5 Issues Add Near-Term Volatility
Perimeter reported a clear step-up in structural earnings power for 2025, driven by contract repricing in the Fire Safety business, productivity gains, international expansion, and bolt-on M&A. Consol...
- 2025 consolidated revenue was $652.9 million, up 16% year over year, and adjusted EBITDA was $331.7 million, up 18%.
- Q4 2025 revenue reached $102.8 million, up 19% year over year; Q4 adjusted EBITDA was $36.0 million, up 9%.
- GAAP loss per share for 2025 was negative $1.37, while adjusted EPS rose to $1.34, a 21% increase versus last year; Q4 adjusted EPS was $0.13 in both 2025 and 2024.
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EPR Properties Q4 and Year-End 2025 Earnings Call - Pivoting Hard Into Experiential Assets With $400M-$500M 2026 Investment Plan
EPR closed 2025 with steady rent coverage, modest per-share growth, and a clear pivot: double down on experiential assets. FFO as adjusted rose about 5% year over year, AFFO rose about 6%, the portfol...
- EPR is accelerating experiential investments, guiding $400 million to $500 million of capital deployment in 2026 versus $288.5 million in 2025.
- FFO as adjusted per share rose to $5.12 for 2025, up about 5.1% year over year; AFFO per share rose about 6.2% to $5.14.
- Q4 FFO/AFFO per share were $1.30, increases of roughly 5.7% and 6.6% respectively versus the prior year quarter.
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TG Therapeutics Q4 2025 Earnings Call - BRIUMVI Scales to $616M, Readouts This Year Could Simplify Treatment
TG Therapeutics closed 2025 with clear commercial traction for BRIUMVI, delivering roughly $616 million in total revenue and $594 million of U.S. net sales. Management says physician uptake, strong pe...
- Total 2025 global revenue about $616 million, with roughly $594 million in U.S. BRIUMVI net sales. Q4 U.S. BRIUMVI net sales were $182.7 million and total Q4 net product revenue was $189.1 million (including $6.4 million to Neuraxpharm).
- Fourth quarter growth was strong: ~92% year-over-year and ~20% sequential growth versus Q3, management says driven by new patient starts, prescriber expansion, and strong persistence.
- Six-year open-label ULTIMATE I/II data presented at ECTRIMS showed nearly 90% of patients free from 24-week confirmed disability progression after six years, a very low relapse rate (characterized by management as one relapse per 83 years of treatment), and no new safety signals. Those data are a core commercial argument.
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Codere Online Q4 2025 Earnings Call - Record Net Gaming Revenue, Mexico-Led Growth and 2026 Profit Guidance
Codere Online closed 2025 on a high note, reporting a company record Net Gaming Revenue for the year of EUR 224 million and a Q4 NGR of EUR 60.7 million, up 15% year on year. Profitability is improvin...
- Company posted record FY 2025 Net Gaming Revenue of EUR 224 million; Q4 NGR reached EUR 60.7 million, the highest quarterly NGR in company history.
- Adjusted EBITDA for full year 2025 was EUR 13.8 million, more than double 2024’s EUR 6.4 million; Q4 Adjusted EBITDA was EUR 6.7 million, up EUR 4.8 million YoY.
- Q4 EBITDA margin improved to about 11%, versus under 4% in Q4 2024, showing operating leverage as NGR scales.
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BioCryst Pharmaceuticals Q4 2025 Earnings Call - ORLADEYO drove record profitability as navenibart aims to own HAE prophylaxis
BioCryst closed 2025 with ORLADEYO revenue of $601.8 million, a 38% year on year increase and 43% growth excluding the divested European business, and posted a non-GAAP operating profit of $214 millio...
- ORLADEYO delivered full-year 2025 revenue of $601.8 million, up 38% year on year, and up 43% when excluding the European business sold in October.
- BioCryst reported a record non-GAAP operating profit of $214 million in 2025, a 198% increase year on year after stripping out Europe and one-time items.
- Management is repositioning BioCryst as a profitable, rare disease company focused on a portfolio approach to HAE prophylaxis, not a single-product defense.
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Arbe Robotics Q4 2025 Earnings Call - Strategic Pivot to Defense, Robotaxi and Non-Auto Markets as CEO Transition Extends Runway
Arbe used this quarter to acknowledge what many already felt, and then acted. Management is broadening the commercial focus away from a sole reliance on Western passenger OEMs toward faster-adopting m...
- Strategic pivot: Arbe is broadening focus beyond Western passenger OEMs to prioritize Chinese OEMs, defense, homeland security, robotaxi/robotruck, marine safety and smart infrastructure where adoption cycles are shorter.
- Leadership change: Ram Machness will become CEO on April 1, 2026. Kobi Marenko transitions to President to focus on long-term strategy and defense partnerships.
- Balance sheet strengthened: Cash and equivalents were $45.0 million at December 31, 2025, and the company raised $18.5 million in an underwritten public offering in January 2026.
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Warby Parker Inc. 4Q 2025 Earnings Call - Act Three is AI: 2026 launch planned but revenue excluded from guidance
Warby Parker closed fiscal 2025 with solid growth and its first full year of net income, but the call felt like a dress rehearsal for something bigger. Management outlined an ambitious pivot into AI g...
- Warby Parker reported fiscal 2025 revenue of $871.9 million, up 13% year-over-year, with full-year adjusted EBITDA of $95 million, up 30%, and free cash flow of $44 million.
- The company delivered its first full year of net income in 2025 and ended the year with $286 million in cash, plus a $120 million credit facility (expandable to $175 million).
- Management announced Act Three: a planned launch of AI glasses in 2026 in partnership with Google and Samsung, positioning the company to move from traditional eyewear to intelligent eyewear.
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ADTRAN Holdings Q4 2025 Earnings Call - Optical Surge Drives Revenue, Margins and Cash Flow Recovery
ADTRAN delivered a clean quarter of execution. Q4 revenue of $291.6 million beat expectations, driven by a 33% year-over-year leap in optical networking and broad-based growth across access, aggregati...
- Q4 revenue $291.6 million, up 20% year-over-year and 4% sequentially, above the high end of guidance.
- This was the sixth consecutive quarter of sequential growth and the fifth consecutive quarter of year-over-year improvement.
- U.S. revenue led the quarter, rising 31% year-over-year and 14% sequentially; non-U.S. revenue grew 12% year-over-year and declined 3% sequentially due to ordering patterns among large European customers.
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