Financial Data and Key Metrics Changes - The Product Commerce segment net revenue for Q4 2025 was $7.4 billion, growing 8% year-over-year, or 12% on a constant currency basis, which was lower than the 18% growth reported in the previous quarter [20] - Consolidated total net revenues reached $8.8 billion, growing 11% on a reported basis and 14% on a constant currency basis [26] - Gross profit margin was 28.8%, down over 100 basis points year-over-year, and adjusted EBITDA margin was 3%, decreasing over 220 basis points compared to the previous year [27][28] Business Line Data and Key Metrics Changes - Product Commerce gross profit was $2.4 billion, increasing 5% year-over-year, with a gross profit margin of 31.9% [22][23] - Developing Offerings reported record net revenues of $1.4 billion for the quarter, growing 32% or 31% in constant currency, driven by triple-digit growth in Taiwan [24][25] - Total segment adjusted EBITDA losses for Developing Offerings were $300 million for the quarter, slightly up from the previous quarter [25] Market Data and Key Metrics Changes - Product Commerce active customers were 24.6 million, growing 8% year-over-year, but down slightly from 24.7 million in the previous quarter [20][21] - Taiwan's revenue growth continued to be strong, with triple-digit growth rates, and the customer experience is improving with next-day delivery covering nearly 70% of the geography [15][16] Company Strategy and Development Direction - The company is focused on long-term investments and innovation to enhance customer experience while lowering service costs, particularly through Rocket Delivery and expanding first-party retail selection [14][12] - The strategy includes leveraging technology and logistics infrastructure to support small businesses and enhance product offerings [14][15] - The company aims to maintain a strong balance sheet with over $6 billion in cash while continuing to invest in Developing Offerings despite expected losses [31][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of a data incident on customer trust and revenue growth, but noted signs of stabilization in customer metrics since the end of Q4 [20][21][29] - The company anticipates muted growth trends in the near term but expects recovery as the impacts of the data incident diminish [29][30] - Long-term guidance for Developing Offerings indicates expected losses between $950 million and $1 billion for 2026, reflecting confidence in future cash flow generation [31] Other Important Information - The company announced a customer compensation program to issue approximately $1.2 billion in vouchers due to the data incident [10] - The data incident involved unauthorized access to user data, but no sensitive information was compromised, and the company has taken steps to enhance security measures [5][6][8] Q&A Session Summary Question: Estimated negative impact from the data breach on financials - Management noted that the data incident adversely affected revenue growth rates and customer metrics, with a significant slowdown observed in December [35] Question: Key consumer metrics trajectory - Management indicated that trends in active customers and WOW membership have stabilized, with churn returning to historical low levels [36] Question: Timeline for Taiwan business reaching unit economics positive - Management emphasized that the focus is on building a strong customer experience and operational leverage, with encouraging early signs of progress [39] Question: Tech investment and operating leverage - Management confirmed ongoing investments in cybersecurity and technology, expecting to see operating leverage as the business scales [40] Question: Guidance on Developing Offerings losses - Management stated that losses would decline somewhat compared to previous quarters, but specific guidance on individual product lines was not provided [44] Question: Pricing strategy and sales from local vendors in Taiwan - Management highlighted that the growth in Taiwan is driven by expanding selection and improving fulfillment, with ongoing investments to enhance customer experience [59][63]

Financial Data and Key Metrics Changes - For the fourth quarter of 2025, contract revenue increased by 21% to $174 million, and net revenue grew by 13% to $89.5 million [17] - Adjusted EBITDA increased by 13% year-over-year, totaling $20 million for the quarter, while adjusted earnings per share more than doubled to $1.57 [17] - For fiscal 2025, consolidated contract revenue grew by 21% to $682 million, and net revenue grew by 23% to $365 million, with 17% of the growth being organic [18] - Net income more than doubled to $52.6 million, or $3.49 per diluted share on a GAAP basis, compared to $22.6 million or $1.58 per share in 2024 [20] Business Line Data and Key Metrics Changes - Approximately 85% of revenue comes from the energy segment, with the remaining 15% from engineering and consulting [6] - Utility customers represent about 41% of revenue, while state and local governments account for approximately 48% [7] - Commercial customers have rapidly grown to 11% of revenue, primarily tied to power for data centers [7] Market Data and Key Metrics Changes - Electric load growth has returned to the U.S. after about 15 years of stagnation, driven by AI and data centers [4] - There is currently an estimated 35 gigawatts of active data center construction in the U.S., indicating sustained demand for power from digital infrastructure [13] Company Strategy and Development Direction - The company plans to further increase capabilities through key hires and acquisitions, with a robust acquisition pipeline entering 2026 [16] - Willdan operates at the intersection of consulting services, engineering, and program management, helping clients navigate market changes [9] Management's Comments on Operating Environment and Future Outlook - Management highlighted that utilities are being squeezed as generation does not keep pace with electricity demand, leading to increased requests for energy efficiency programs [34] - The company expects margins to continue to be above 20%, reflecting structural changes and improved operational efficiencies [31] Other Important Information - The company generated $71 million in free cash flow and ended the year with a net positive cash position of $17 million, marking the first time since 2017 [21] - The company expects net revenue in the range of $390 million to $405 million for 2026, with adjusted EBITDA in the range of $85 million to $90 million [23] Q&A Session Summary Question: About the EPS guidance for 2026 - Management explained that the Section 179D provision is set to expire at the end of June 2026, limiting the ability to carry deductions through the year [27] Question: About EBITDA growth and operational improvements - Management indicated that margins are expected to remain above 20%, with structural changes allowing for better pricing and cost absorption [31] Question: On the demand for accelerated project completion from utility customers - Management confirmed that utilities are under pressure to meet electricity demand, leading to increased requests for energy efficiency programs [34] Question: Contribution from the Los Angeles Department of Water and Power contract - Management noted that while the contract's contribution was small in Q4, a significant ramp-up is expected in Q1 and Q2 of 2026 [39] Question: Potential for data center revenue to double in 2026 - Management clarified that they expect revenue from the APG acquisition related to data centers to more than double, contributing to long-term growth [41]

Willdan Group (NasdaqGM:WLDN) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsAl Kaschalk - VP of Investor RelationsKim Early - EVP and CFOMike Bieber - CEOConference Call ParticipantsCraig Irwin - Managing Director and Senior Research AnalystTim Moore - Managing Director and Senior Research AnalystOperatorGreetings, welcome to the Willdan Group Fourth Quarter and Fiscal Year 2025 financial results conference call. At this time, all participants are in a listen-only mode. The questio ...

PACS Group (NYSE:PACS) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsBenjamin Hendrix - VPJason Murray - Co-Founder, Chairman, and CEOJosh Derksen - President and COOMark Hancock - Executive Vice Chairman and Interim CFOConference Call ParticipantsDavid MacDonald - Managing Director and Senior Equity Research AnalystOperatorGreetings. Welcome to PACS Group Fourth Quarter, Full Year 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-a ...

Duolingo (NasdaqGS:DUOL) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsAlexander Sklar - DirectorAndrew Boone - Managing DirectorBryan Smilek - Equity Research AssociateEric Sheridan - Managing DirectorGillian Munson - CFOLuis von Ahn - Co-Founder and CEOMark Mahaney - Senior Managing DirectorNathan Feather - Equity Research AssociateShweta Khajuria - Managing Director of Global InternetConference Call ParticipantsJustin Patterson - Managing Director and Equity Research AnalystRalp ...

Coupang (NYSE:CPNG) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsBom Kim - Founder and CEOGaurav Anand - CFOH.L. Rogers - General Counsel and Chief Administrative OfficerMike Parker - VP of Investor RelationsConference Call ParticipantsEric Cha - Research AnalystJiong Shao - Equity Research AnalystSeyon Park - Equity Research AnalystStanley Yang - Equity Research AnalystWei Fang - Director and Equity Research AnalystOperatorNow I'd like to turn the call over to Mike Parker, Vice P ...

NetApp (NasdaqGS:NTAP) Q3 2026 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsAlek Valero - Equity Research AssociateDavid Vogt - Managing DirectorGeorge Kurian - CEOKatherine Murphy - VP of Equity ResearchKris Newton - VP of Investor RelationsKrish Sankar - Managing DirectorSimon Leopold - Managing DirectorSteven Fox - Founder and CEOTim Long - Managing DirectorWissam Jabre - CFOConference Call ParticipantsAaron Rakers - Managing Director and Technology AnalystAsiya Merchant - Technology E ...

Financial Data and Key Metrics Changes - In 2025, the company surpassed 50 million daily active users, more than five times the number at the time of its IPO in 2021 [5] - The company achieved over $1 billion in bookings and more than $300 million in adjusted EBITDA [5] - The guidance for 2026 includes bookings growth of 10%-12%, revenue growth of 15%-18%, and an adjusted EBITDA margin around 25% [12][14] Business Line Data and Key Metrics Changes - The company is focusing on three main initiatives: teaching languages better, improving the free user experience, and developing new subjects like math, music, and chess [8] - The company expects DAU growth to be about 20% year-over-year throughout 2026, indicating a deceleration from previous years [7][9] Market Data and Key Metrics Changes - The company holds approximately 85% of the daily active users in the language learning app market, indicating a strong market position [47] - In the U.S., only 2% of internet users engage with Duolingo daily, suggesting significant room for growth [48] Company Strategy and Development Direction - The company aims to redefine the future of learning by leveraging advances in AI, which is expected to enhance the learning experience [5][6] - The medium-term goal is to reach 100 million daily active users by 2028, with a focus on user growth over immediate profitability [9][40] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the deceleration in DAU growth and emphasizes the need for decisive actions to re-accelerate this growth [6][7] - The company is confident in its ability to scale and generate significant EBITDA and free cash flow while investing in user growth [84] Other Important Information - The board has authorized a share buyback of up to $400 million, reflecting good capital allocation discipline [16] - The company is experimenting with pricing strategies and A/B testing to optimize monetization without adding friction to the user experience [62][76] Q&A Session Summary Question: Can you elaborate on the market across AI and overall innovation? - Management believes AI will significantly enhance teaching quality and user engagement, making it an opportune time for strategic shifts [21][22] Question: How does the company view market saturation and competition? - Management is not concerned about market saturation, citing low penetration rates in various countries and a stable user base [47][48] Question: What are the expectations for user growth and monetization? - The company expects user growth to stabilize as friction points are removed, with a focus on enhancing the free user experience [36][39] Question: What is the outlook for the ad business? - The company plans to improve ad quality without increasing ad load, focusing on direct deals to enhance revenue per ad [86] Question: How will the company balance user growth and monetization? - Management aims to ramp up monetization gradually while prioritizing user growth, with expectations for increased efficiencies in marketing [82][84]

Betterware (NYSE:BWMX) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsAndres Campos - President and CEORodrigo Muñoz - CFOConference Call ParticipantsCristina Fernández - Managing Director and Senior Research AnalystEric Beder - CEO and Senior Research AnalystOperatorThank you, and welcome to BeFra's fourth quarter 2025 earnings conference call. Before BeFra's management begins their prepared remarks, please note the disclaimer regarding forward-looking statements on slide two. To r ...

Alpha Teknova (NasdaqGM:TKNO) Q4 2025 Earnings call February 26, 2026 05:30 PM ET Company ParticipantsJacob Krahenbuhl - Equity Research AssociateJennifer Henry - SVP of MarketingMatt Lowell - CFOStephen Gunstream - President and CEOConference Call ParticipantsBrendan Smith - Director and Senior Equity Research AnalystMatt Hewett - Senior Research AnalystMatthew Parisi - Equity Research AnalystOperatorGood day, and welcome to Teknova's fourth quarter and full year 2025 financial results call. At this time, ...