Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
ThredUp Q4 2025 Earnings Call - Shift to high-margin consignment, AI and Direct Listings fuels 13% revenue guide and 6% Adj. EBITDA in 2026
ThredUp closed 2025 with clear operating momentum: record revenue of $310.8 million (up 20%), a premium gross margin near 79%, and its first full year of positive free cash flow, driven by a 30% incre...
- Q4 revenue grew 18.5% year-over-year to $79.7 million; full-year 2025 revenue was $310.8 million, up 20% versus 2024.
- Gross margin remained strong: Q4 at 79.6% and full-year at 79.4%; company sets guidance range of 78%–79% for 2026 to allow reinvestment in the customer experience.
- ThredUp delivered Adjusted EBITDA of $14 million for 2025, or 4.4% of revenue, and reported positive free cash flow for the first time, after $10.5 million of CapEx.
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Mobile Infrastructure Corporation Q4 2025 Earnings Call - Leaning into contract parking, asset rotation and balance sheet repair as transient demand begins to recover
Mobile Infrastructure says 2025 was a reset year: revenues and NOI slipped, but management prioritized occupancy, recurring contract growth and balance-sheet repair. The company ended the year with mo...
- Company ended 2025 with over 6,700 contract parking customers; same-store contract sales grew ~10% year-over-year and ~12% excluding temporary Detroit disruption.
- Contract parking now represents roughly 35% of management agreement revenue and is the strategic base for predictable, recurring cash flow.
- Management is executing a deliberate "volume first, rate second" playbook to win occupancy, accepting lower initial pricing to stabilize assets before pursuing pricing optimization.
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iHeartMedia Q4 2025 Earnings Call - Podcast and programmatic growth offset political comps, guiding to $800M EBITDA in 2026
iHeartMedia closed Q4 2025 with clear momentum in digital audio and podcasting, enough to overcome steep political revenue comps. Digital Audio Group led the quarter, while broadcast remains a work in...
- Q4 consolidated revenue was $1.1 billion, up 0.8% year-over-year, and beat guidance that expected down low single digits.
- Q4 adjusted EBITDA was $220 million at the midpoint of guidance, versus $246 million in the prior-year quarter which benefited from approximately $80 million of political revenue.
- Excluding political revenue, consolidated revenue grew 7.7% year-over-year, highlighting secular strength outside of election cycles.
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Quanterix Corporation Q4 2025 Earnings Call - On track for cash flow breakeven in H2 2026 as diagnostics push gains CMS pricing and 510(k) progress
Quanterix closed Q4 2025 with revenue of $43.9 million, a 25% year-over-year headline gain driven by a release of pent-up academic demand, but underlying organic revenue fell 22% as both Simoa and Spa...
- Q4 2025 total revenue $43.9 million, up 25% year-over-year and up 7% sequentially, but organic revenue declined 22%.
- Simoa revenue $27 million, down 22% organic year-over-year; Spatial revenue $17 million, down 23% year-over-year, or down 16% excluding a terminated diagnostics development agreement.
- Company placed 21 Simoa and 17 Spatial instruments in Q4; instrument revenue totaled $6.1 million.
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Sturm, Ruger & Company Q4 2025 Earnings Call - Product-Led Resilience and Capacity Push Offset by One-Time Charges and Ramp Costs
Ruger closed 2025 with modest revenue growth and clear evidence that new products are pulling share, even as the broader firearms market softened. Management points to a 4.5% increase in sell-through ...
- Top-line resilience: Net sales rose 3.6% in Q4 to $151 million and 1.9% for full-year 2025 to $546 million versus 2024, driven largely by new product demand.
- Sell-through outperformance: Management cited a 4.5% increase in estimated sell-through through distribution in 2025, versus a 4.1% decline in adjusted NICS, signaling share gains.
- GAAP versus adjusted results: Company reported a GAAP net loss of $0.27 per share for 2025, but on an adjusted basis (excluding shareholder rights, leadership transition, RIF and other non-recurring items) full-year diluted earnings were $0.84 per share.
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WhiteHorse Finance Q4 2025 Earnings Call - Aggressive Buybacks at Deep Discount to Narrow NAV Gap
WhiteHorse posted a modest pickup in earnings and NAV in Q4 2025, but the story is capital allocation, not a breakout in origination. GAAP and core NII rose to $6.6 million, NAV climbed to $11.68, and...
- Q4 GAAP and core net investment income was $6.6 million, or $0.287 per share, up from $6.1 million and $0.263 in Q3.
- NAV rose to $11.68 at quarter end from $11.41 in Q3, a 2.4% increase driven largely by share repurchases and modest net gains.
- The company repurchased ~1.0 million shares in Q4 for about $7.4 million, which management says accreted NAV by roughly $0.184 per share.
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California Resources Corporation Q4 2025 Earnings Call - Record year, production growth and Carbon TerraVault near commercial injection
California Resources closed 2025 with record financials and a stretched playbook. Production rose for the third consecutive year, adjusted EBITDAX hit roughly $1.25 billion for the year, and free cash...
- Record financial year despite weaker oil, adjusted EBITDAX ~ $1.25 billion and free cash flow $543 million for 2025, highest since 2021.
- Q4 2025 results: adjusted EBITDAX $251 million and free cash flow $115 million, including 14 days of Berry contribution.
- Production grew to ~138,000 boe/d for 2025, up 25% year over year; Q4 net production ~137,000 boe/d.
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Kosmos Energy Q4 2025 Earnings Call - Strong 2026 start as Jubilee and GTA ramp, cost cuts and EG sale to drive 10%+ net debt reduction
Kosmos opened 2026 with operational momentum, led by Jubilee drilling and a high-performing GTA FLNG. Jubilee is back above 70,000 barrels per day gross after the J74 well added roughly 13,000 bpd, an...
- Management set three crystal priorities for 2026: grow production, reduce costs, and cut net debt, with tangible numeric targets: +15% production, ~20% total operating cost reduction, ~35% OpEx/boe reduction, and at least 10% net debt reduction.
- Jubilee drilling program is the engine of near-term growth: J74 came online in January and is contributing ~13,000 bpd gross, bringing Jubilee production above 70,000 bpd gross, with five additional wells planned this year.
- Kosmos forecasts Jubilee production of 70,000 to 80,000 bpd gross for the year, current performance supports the upper end, and recent wells show quick paybacks, with the last 12 wells averaging ~9 months and the latest two nearer 6 months.
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RadNet Q4 2025 Earnings Call - Gleamer deal crowns DeepHealth largest radiology AI provider, sets ARR target ~$140M in 2026
RadNet closed a record Q4: revenue $547.7M, up 14.8%, and Adjusted EBITDA $87.7M, up 16.9%. Imaging momentum was driven by advanced modalities, with same-center advanced imaging volumes up 9.6% in Q4 ...
- Q4 2025 was RadNet's strongest quarter ever: revenue $547.7M, up 14.8%, and Adjusted EBITDA $87.7M, up 16.9%.
- Digital Health revenue for Q4 rose 48.2% to $27.9M, with Digital Health Adjusted EBITDA up 8.9% to $4.9M.
- RadNet completed acquisition of Gleamer, a Paris-based radiology AI company, for up to EUR 230M, inclusive of post-closing milestones.
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EchoStar Fourth Quarter 2025 Earnings Call - Spectrum-sale proceeds and SpaceX equity loom, but tower litigation and $5-7B decommission/tax cash hit cloud outlook
EchoStar is perched between a potential cash windfall from a pending spectrum sale and an opaque equity position in SpaceX, while legacy wireless obligations and active litigation with tower companies...
- EchoStar filed its Form 10-K on March 2, 2026, and reiterated that forward-looking comments are subject to SEC safe-harbor caveats.
- EchoStar Capital is awaiting regulatory approvals for a spectrum sale expected to bring a significant influx of capital during H1 2026, but will not allocate funds until closing.
- Capital deployment priorities under consideration include paying down expensive or maturing debt, managing tax liabilities, evaluating investments at EchoStar Capital, and returning capital to shareholders, with choices to be driven by net shareholder return.
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