Earnings Call Transcripts
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All Earnings Calls
Plug Power Q4 2025 Earnings Call - Margin Inflection, Targeting Positive EBITDA in Q4 2026
New CEO Jose Luis Crespo opened his tenure by framing 2025 as a structural turning point. The company reported roughly 30% revenue growth for the year and swung Q4 gross margin from negative 122.5% a ...
- This was Jose Luis Crespo’s first earnings call as CEO, with a mandate to convert market leadership into sustained profitable growth.
- Plug reports approximately 30% revenue growth in 2025 versus 2024.
- Q4 2025 gross margin improved to positive 2.4%, a 125 percentage point swing from negative 122.5% in Q4 2024.
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LendingTree Inc. Q4 2025 Earnings Call - Insurance Strength and AI Gains Propel Record Results Despite Mortgage Headwinds
LendingTree closed 2025 with a strong finish: total VMD rose 14% and adjusted EBITDA grew 28%, driven by broad-based strength in insurance, consumer products and SMB. Management says insurance deliver...
- Q4 2025 VMD up 14% year-over-year, adjusted EBITDA up 28% year-over-year.
- Insurance VMD was $174 million in 2025, a 10% increase versus prior year, finishing Q4 at record levels and carrying momentum into early 2026.
- Carriers beyond the top three drove outsized growth: insurers ranked 4 through 10 grew revenue with LendingTree by 65% in 2025, signaling broader participation.
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Gorilla Technology Q4 2025 Earnings Call - Record $101.4M FY Revenue and Turnaround, pivoting to GPU data centers
Gorilla closed 2025 with a milestone: record full year revenue of $101.4 million, a 35.7% year-on-year increase, and a dramatic IFRS profitability swing. Management reported an IFRS operating loss tha...
- Record FY2025 revenue of $101.4 million, up 35.7% year-on-year, first time crossing $100 million annualized revenue.
- Material IFRS turnaround, operating loss narrowed to $13.7 million from $66.9 million, a 79.6% improvement; IFRS net loss narrowed to $11.3 million from $64.8 million.
- Adjusted EBITDA about $19.1 million and adjusted net income roughly $19.9 million, driving adjusted basic EPS of $0.89 versus consensus $0.84.
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Core Scientific Q4 2025 Earnings Call - Energized 350 MW, billing near 200 MW, but no new colocation customer signed
Core Scientific leaned hard on execution in Q4, and the headline is real: the company has energized roughly 350 megawatts of capacity and is billing close to 200 megawatts as it races to deliver CoreW...
- Management missed one of its four October deliverables, it did not sign a new colocation customer by the call; two sites are under short exclusivity and discussions remain active.
- Core Scientific has energized approximately 350 megawatts of capacity and is billing nearly 200 megawatts, which management says puts them about halfway on the Quarry/CoreWeave contract.
- Going forward the company will report megawatts when billing begins, not when energized, to reduce ambiguity between energization and revenue start.
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Senseonics Q4 2025 Earnings Call - Commercial Takeover, Year-Long CGM Momentum Fuels 2026 Revenue Guide
Senseonics used 2025 to reassemble its commercial engine, convert nearly all U.S. sales staff in-house, and push Eversense 365 into the market as a full year product. The result was a step change in t...
- Senseonics completed a commercial transition from Ascensia in the U.S., bringing sales, customer service, marketing, and sales operations in-house, with nearly 100 percent of U.S. employees converting.
- Q4 2025 net revenue was $14.3 million, up 72 percent year over year, driving full year 2025 revenue to $35.3 million versus $22.5 million in 2024.
- Gross margins finished the year above 50 percent, a large improvement from prior levels, with Q4 gross profit of $7.7 million.
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Ameresco, Inc. Q4 2025 Earnings Call - Execution and backlog set the runway for 2026 revenue and EBITDA growth
Ameresco closed 2025 with a clean, broad-based quarter that leaned on execution and recurring revenue. Q4 revenue hit a record $581 million, and management converted roughly $1.5 billion of backlog in...
- Q4 2025 revenue was a record $581 million, up 9% year over year, driven by growth across all core business lines.
- For 2025 Ameresco converted approximately $1.5 billion of project backlog into revenue, demonstrating strong execution on contracted work.
- Total project backlog stands above $5.0 billion, while total awarded backlog was cited at more than $2.5 billion, up 13% year over year.
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Quantum Computing Inc. Fourth Quarter and Full Year 2025 Earnings Call - LSI Acquisition and $1.5B+ Cash Raise Put Manufacturing Scale Within Reach
QCI called 2025 a transformational year, moving from lab-stage R&D toward a manufacturing-focused photonics and quantum platform. Management opened a thin-film lithium niobate prototype fab, began gen...
- QCI completed and opened Fab One, a thin-film lithium niobate photonic chip rapid-prototyping facility focused on design/fab/test iteration rather than high-volume production.
- Foundry services from Fab One began generating early revenue in Q4 2025; Q4 revenue was $198,000 versus $62,000 a year earlier.
- QCI announced Fab Two planning to provide a domestic vertically integrated processing capability for specialized quantum and nanophotonic chips, but material CapEx is not expected in 2026.
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BigBear.ai Q4 2025 Earnings Call - Strengthened Balance Sheet and Strategic M&A Position Firm to Deploy Agentic AI for Defense and Trade
BigBear.ai closed 2025 with a materially stronger balance sheet, aggressive M&A, and a sharpened go-to-market around national security and trade. Management raised about $693 million in 2025, eliminat...
- Management says 2025 ended with the strongest financial position in company history after raising approximately $693 million via ATM facilities and warrant exercises.
- Q4 2025 revenue was $27.3 million, down $16.5 million year-over-year, primarily due to lower volume on Army programs that management had previously signaled.
- Gross margin fell to 20.4 percent in Q4 2025 from 37.4 percent a year earlier, with management attributing the decline to non-repeating, high-margin license deliveries and a fringe and overhead true-up in 2024.
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Belite Bio Q4 2025 Earnings Call - NDA Submission Planned Q2 2026 After Positive Phase 3 DRAGON; $772.6M Cash to Fund Launch
Belite Bio closed 2025 with a clear narrative shift, from R&D story to launch readiness. The phase 3 DRAGON trial hit its primary endpoint, showing a statistically significant and clinically meaningfu...
- DRAGON phase 3 met primary endpoint, showing a 36% reduction in atrophy lesion growth measured by definitely decreased autofluorescence (DDAF) versus placebo.
- Belite plans a rolling NDA submission to the FDA in Q2 2026, with the clinical study report expected to be finalized imminently.
- Company expects to launch Tinlarebant in the U.S. by Q1 2027, contingent on approval, and is actively building a commercial organization now.
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Cerus Corporation Q4 2025 Earnings Call - Record Product Revenue and INT200 Momentum Poise Cerus for 2026 Growth
Cerus closed 2025 with clear commercial momentum: record total revenue of $233.8 million, product revenue that beat prior guidance, rapid international uptake of the INT200 illuminator, and accelerati...
- Record total revenues of $233.8 million for 2025, up 16% year over year, with product revenue up about 14% and exceeding the top end of prior guidance ($202M-$204M).
- INT200 next-generation LED illuminator received CE mark and launched commercially in EMEA, with positive customer feedback; a PMA submission to the FDA for INT200 is planned for mid-2026.
- Red blood cell program: TÜV SÜD completed its review and transferred the dossier to ANSM for consultation; management expects the competent authority review clock of roughly 210 days and says a potential European approval could occur in the first half of 2027, assuming no issues. In the U.S., RedeS Phase 3 enrollment is complete and top-line results are expected in Q4 2026.
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