Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
PayPal Q3 2025 Earnings Call - Pivot to diversified, profitable growth with dividend initiation
PayPal told investors the company has moved from stabilization to offense. Transaction margin dollars are growing again, driven by a broader mix across branded checkout, PSP, Venmo, and BNPL. Manageme...
- PayPal reported transaction margin dollars excluding interest grew 7% in Q3, continuing a multi-quarter recovery from negative growth two years ago.
- Management is on pace for 6% to 7% transaction margin dollar growth in 2025, and reiterated a longer-term target of high single-digit TM dollar growth and mid-teens non-GAAP EPS growth.
- PayPal initiated a dividend, set as a 10% payout ratio to net income, while keeping buybacks as the primary capital return tool and targeting 70% to 80% of free cash flow for returns.
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Kiniksa Pharmaceuticals Third Quarter 2025 Earnings Call - ARCALYST acceleration lifts guidance to $670–675M as IL-1 franchise gains commercial traction
Kiniksa used this quarter to convert clinical validation into dollars. ARCALYST revenue jumped to $180.9 million in Q3, up 61% year over year, and management raised full-year net sales guidance to $67...
- ARCALYST net sales in Q3 2025 were $180.9 million, up 61% year over year, driven by rising active patient counts and longer treatment duration.
- Kiniksa raised full-year 2025 ARCALYST net sales guidance to $670 million to $675 million, up from $625 million to $640 million previously.
- Management reports only about 15% penetration into the multiple recurrence (two or more flares) addressable population, signaling significant upside if adoption continues.
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Avis Budget Group Q3 2025 Earnings Call - Betting on customer experience to lift RPD and margins despite recall headwinds
Avis Budget posted the first year-over-year revenue uptick in eight quarters, and adjusted EBITDA rose while management doubled down on a strategic pivot: decommoditize rental cars by investing in a d...
- Revenue of $3.51 billion, up $39 million year over year, the first YoY revenue increase in eight quarters.
- Consolidated adjusted EBITDA increased 11% year over year in Q3, despite pressure in the Americas.
- Americas RPD fell 3% in the quarter, driven by softer leisure pricing and mix shifts toward leisure customers.
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Commvault Q2 FY2026 Earnings Call - $1B ARR hit early as SaaS surge and identity tools fuel net new ARR
Commvault sprinted past its $1 billion ARR goal two quarters early, driven by a blistering SaaS expansion and outsized demand for identity and cyber-resilience offerings. Q2 delivered $47 million of n...
- Commvault reached over $1.04 billion in total ARR, achieving the $1 billion milestone two quarters ahead of plan.
- Net new ARR in Q2 was a record $47 million on a constant currency basis; net new SaaS ARR was $29 million (constant currency).
- Subscription ARR rose 30% year over year to $894 million and now represents 86% of total ARR.
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Materialise Q3 2025 Earnings Call - Medical momentum offsets manufacturing headwinds, guidance intact
Materialise posted a mixed Q3: consolidated revenue slipped 3.5% year-over-year to €66.3 million, but the Medical unit hit an all-time quarterly record, growing double digits to €33.3 million. Strong ...
- Consolidated revenue fell 3.5% YoY to €66.3 million in Q3 2025, held back by software and manufacturing declines.
- Materialise Medical delivered an all-time quarterly record of €33.3 million, up >10% YoY, and accounted for 50% of group revenue.
- Medical software and device sales grew 6% and 12% respectively in the quarter, with year-to-date medical revenue up 15% to €97.2 million.
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Wayfair Q3 2025 Earnings Call - Accelerating Share Capture and AI Adoption Drive Record Adjusted EBITDA Margin
Wayfair pushed through a clean quarter of share gains and margin recovery, reporting revenue up 8% year over year (9% ex Germany) and adjusted EBITDA of $208 million, a 6.7% margin, the company’s best...
- Revenue grew 8% YoY reported, 9% YoY excluding the exit from Germany.
- Orders rose over 5% year over year in Q3, with new orders growing mid-single digits for the second consecutive quarter.
- Adjusted EBITDA was $208 million, up more than 70% YoY, producing a 6.7% adjusted EBITDA margin, the highest outside pandemic quarters.
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Brown & Brown Third Quarter 2025 Earnings Call - AssuredPartners deal fuels 35% revenue surge while organic growth remains low single digits
Brown & Brown reported a quarter reshaped by M&A, not magic. Total revenue jumped 35.4% to $1.606 billion, driven largely by the AssuredPartners acquisition and six other deals, while organic growth s...
- Total revenue of $1,606 million, up 35.4% year over year, driven largely by AssuredPartners and other acquisitions; organic revenue growth was 3.5% for the quarter.
- Adjusted EBITDA margin expanded 170 basis points to 36.6%, and adjusted diluted EPS rose 15.4% to $1.05.
- AssuredPartners: 5,000+ teammates joined August 1, stub-period (Aug–Sep) revenue ~ $285 million; acquisition and integration costs ~ $50 million excluded from adjusted metrics.
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Everest Group Ltd Q3 2025 Earnings Call - ADC and Retail Exit Deliver Finality on U.S. Casualty Reserves
Everest used this quarter to draw a line under legacy U.S. casualty problems, announcing an adverse development cover and the exit of global retail insurance via renewal rights sold to AIG. Management...
- Company announced two transformational actions, exiting global retail insurance and securing an adverse development cover to address prior U.S. casualty reserves.
- Adverse development cover details: $1.2 billion gross limit, Everest co-participation $200 million, covers $5.4 billion of North America insurance subject reserves for accident years 2024 and prior, effective October 1, 2025.
- Management strengthened net reserves by roughly $478 million (12.4% on combined ratio) in the quarter, and will transfer $1.25 billion of in-the-money reserves as part of the ADC transaction.
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UnitedHealth Group Third Quarter 2025 Earnings Call - Repricing UnitedHealthcare and Reshaping Optum to Drive 2026 Recovery
UnitedHealth reported a tidy Q3 top line, $2.92 adjusted EPS and $113 billion in revenue, but the quarter reads as a company in transition. Medical costs remain elevated, pushing the medical care rati...
- Q3 adjusted EPS $2.92, revenue over $113 billion, domestic membership topped 50 million, and YTD net membership growth about 780,000 lives.
- Medical care ratio jumped to 89.9% in Q3 versus 85.2% a year ago, reflecting historically high medical cost trends that management expects to persist through 2025.
- UnitedHealthcare has repriced the vast majority of risk businesses for 2026, including Medicare Advantage, commercial fully insured, and ACA, positioning for margin improvement next year.
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Nautilus Biotechnology Q3 2025 Earnings Call - TAU early access set for H1 2026 as broad-scale launch targets late 2026
Nautilus used the Q3 call to convert scientific momentum into a commercial timetable. Management confirmed an early access program for their TAU proteoform assay in the first half of 2026, with broade...
- Nautilus plans to launch an early access program for its TAU proteoform assay in the first half of 2026, focused initially on TAU proteoform panels.
- Management expects only limited services revenue from early access in 2026, with meaningful commercial revenue further out.
- Q3 delivered a technical milestone, showing affinity reagent probes previously incompatible with the old assay configuration are compatible with the new broad-scale configuration.
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