Upwork (NasdaqGS:UPWK) Q4 2025 Earnings call February 09, 2026 05:00 PM ET Speaker11Hello and thank you for standing by. Welcome to Upwork Fourth Quarter 2025 Earnings Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask the question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, pl ...

Financial Data and Key Metrics Changes - Q4 2025 revenue was $1.89 billion, down 5% sequentially but up 16% year-on-year, with EPS at $0.69, outperforming guidance [11][4] - Full year 2025 revenue grew 6% to $6.7 billion, with gross profit of $939 million and gross margin at 14% [14][13] - Net income for 2025 was $374 million, resulting in EPS of $1.50, with EBITDA at $1.16 billion and EBITDA margin at 17.3% [14][13] Business Line Data and Key Metrics Changes - Communications revenue grew 28% year-on-year in Q4, with a 1% increase for the full year, driven by iOS demand [11] - Computing revenue increased 6% year-on-year in Q4 and 16% for the full year, supported by AI-related PC devices [11] - Automotive and industrial revenue rose 25% year-on-year in Q4 and 8% for the full year, driven by advanced automotive content [11] - Consumer revenue declined 10% year-on-year in Q4 but grew 9% for the full year, reflecting product lifecycle impacts [12] Market Data and Key Metrics Changes - The computing segment is expected to grow over 20% in 2026, with strong contributions from AI and HPC [10] - Communications, computing, and automotive markets are projected to see strong year-on-year growth in Q1 2026 [15] - The automotive market is gradually recovering, with mainstream automotive showing three consecutive quarters of growth [11] Company Strategy and Development Direction - The company aims to elevate technology leadership, expand geographic footprint, and enhance strategic partnerships [6] - Focus on advanced packaging platforms, including HDFO and test, critical for AI and high-performance computing [6] - Construction of the Arizona campus is underway, with significant investments planned for 2026 [10][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market shifts and geopolitical challenges, emphasizing strong execution [4] - The company anticipates continued growth in advanced packaging and computing, with a focus on margin improvement [9] - Management highlighted the importance of customer commitments and partnerships in supporting capacity investments [21][30] Other Important Information - Capital expenditures for 2025 were $905 million, with expectations for 2026 CapEx to increase to $2.5 billion-$3 billion [14][15] - The company held $2 billion in cash and short-term investments at year-end, with total liquidity at $3 billion [15] Q&A Session Summary Question: CapEx guidance and investment changes - Management clarified that the high CapEx guidance includes significant spending for facilities and equipment, with a focus on supporting advanced packaging growth [18][19] Question: Government incentives and CapEx - Management indicated that government incentives would come in on a lag, with minimal offsets in the 2026 guidance [24] Question: Computing segment growth and data center programs - Management expects data center HDFO programs to ramp significantly, contributing meaningfully to revenue [26][28] Question: Communication segment outlook - Management noted relative strength in iOS and a stable outlook for Android, with expectations for premium tier benefits [44] Question: Partnership with TSMC and CapEx impact - Management confirmed ongoing discussions with TSMC regarding U.S. manufacturing and emphasized strong customer interest in the Arizona project [45][48] Question: Balance sheet management and cash needs - Management stated that the company can operate comfortably with $500 million on the balance sheet and expects a decrease in interest expense despite potential debt increases [54]

Financial Data and Key Metrics Changes - Columbus McKinnon reported net sales of $258.7 million, an increase of 10.5% year-over-year, driven by higher volume, pricing, and favorable currency translation [9] - Adjusted EBITDA was $40 million, with an adjusted EBITDA margin of 15.4%, flat compared to the prior quarter [5][11] - Adjusted EPS improved 11% from the prior year to $0.62, reflecting higher net income from increased sales volume and pricing [5][12] - Free cash flow for the quarter was $16.5 million, supported by higher earnings and favorable working capital [12] Business Line Data and Key Metrics Changes - Short cycle sales increased by 13%, with strong performance in the U.S. benefiting from both pricing and volume growth [9] - Project-related sales increased by 8% as backlog was converted to revenue globally [9] - Gross profit increased by $7.1 million, or 8.6%, year-over-year, with a GAAP gross margin of 34.5% [10] Market Data and Key Metrics Changes - Orders in the U.S. grew by 15%, driven by strength in lifting, automation, and precision conveyance [7] - EMEA orders grew by 3%, although this was largely influenced by favorable foreign exchange rates [7][24] - The backlog increased by 15% year-over-year to $342 million, reflecting growth across all platforms [8] Company Strategy and Development Direction - The company closed the Kito Crosby acquisition, which is expected to enhance its value proposition and operational excellence [4] - Columbus McKinnon plans to focus on vertical end markets with tailwinds, such as metal processing, government and defense, and heavy equipment [8] - The company aims to achieve $70 million in net run rate cost synergies from the Kito Crosby acquisition, with 20% expected in year one [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving tariff cost neutrality by the end of the fiscal year and margin neutrality in fiscal 2027 [6][46] - The U.S. market is expected to remain healthy, supported by lower interest rates and favorable tax legislation [7] - Management acknowledged challenges in the EMEA region, anticipating continued slower decision-making and demand [24] Other Important Information - The company withdrew its prior standalone guidance for fiscal year 2026 due to the recent acquisition and pending divestiture [16] - Significant transaction-related expenses and early integration costs are expected to impact GAAP earnings per share in the fourth quarter [16] Q&A Session Summary Question: Can you discuss the seasonality in the Kito Crosby business compared to the core business? - Columbus McKinnon expects Kito Crosby to have a similar seasonal pattern, with both businesses seeing stronger performance in their respective fourth quarters [20] Question: Can you provide a deeper dive into major end markets and geographic performance? - Management noted strength in general industrial space, automation, e-commerce, construction, aerospace, and government, while demand in Europe remains slower than anticipated [23][24] Question: How did the strength in orders relate to the U.S. chain hoist business, which is being divested? - There was no material impact from the chain hoist orders on the overall order numbers, indicating typical performance relative to prior periods [56]

Financial Data and Key Metrics Changes - In Q4 2025, Chegg delivered $18 million in revenue from its skilling business, indicating a strong start for double-digit growth in 2026 [6][12] - Academic services revenue was $55 million, with a focus on cash generation [13] - Non-GAAP operating expenses were reduced to $44.8 million, a 47% decrease year-over-year, reflecting successful restructuring efforts [13][14] - Adjusted EBITDA for Q4 was $13 million, representing an 18% margin [13] - Free Cash Flow in Q4 was -$15 million, primarily due to $12 million in severance payments related to restructuring [14] Business Line Data and Key Metrics Changes - Chegg Skilling is now the growth engine, while the legacy academic learning services are managed for free cash flow generation [5][6] - The legacy business, Chegg Study, continues to serve over a million students and is generating meaningful cash flow [6][11] - The company is testing pricing and packaging strategies to extend the operational runway of its legacy business [7][13] Market Data and Key Metrics Changes - The global demand for workforce skilling has reached $40 billion, presenting a significant opportunity for Chegg [8] - Chegg is expanding its course catalog in high-demand areas such as AI, language, and technical skills [8][9] Company Strategy and Development Direction - Chegg is focused on the $40 billion skilling market, aiming for double-digit revenue growth with strong margins and cash flow [5][10] - The company plans to strengthen its balance sheet by ending the year with zero debt and a meaningful cash balance [10][16] - New partnerships with companies like DHL and Woolf University are aimed at expanding Chegg's reach into global enterprise and academic markets [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the new business structure and its potential for success, noting positive early signs [5][11] - The company is transitioning from a direct-to-consumer (D2C) model to a business-to-business (B2B) skills learning platform [11] - Management anticipates stronger performance in the second half of 2026, driven by continued investment and new distribution partners [16] Other Important Information - Chegg repurchased $9 million of its 2026 convertible notes at a discount, enhancing its capital structure [12] - The company received a delisting notice from the NYSE but has multiple avenues to regain compliance [15] Q&A Session Summary Question: Key drivers of skilling growth and core business performance - Management highlighted that the core business is now skilling, with strong retention rates and positive early results from pricing tests [19][20] Question: Opportunities from the Coursera/Udemy merger - Management sees potential partnerships with Coursera and Udemy rather than competition, focusing on content creation and distribution [28][30] Question: Demand for AI learning content - There is a growing demand for AI learning content across all employee levels, with Chegg expanding its course offerings to meet this need [32][33]

Financial Data and Key Metrics Changes - The company generated $11.8 million in Adjusted EBITDA for the second fiscal quarter ended December 31, 2025, reflecting a year-over-year increase of 93.4% when excluding $5.9 million from Project Milton in the prior year [3][4] - Adjusted gross profit margin improved by 340 basis points to 27.3% compared to 23.9% in the year-ago period [4] - Net income attributable to Radiant Logistics decreased by approximately 18% to $5.3 million on revenues of $232.1 million for the three months ended December 31, 2025 [9][10] Business Line Data and Key Metrics Changes - Same-store growth contributed $3.6 million in U.S. operations, $1.4 million in Canadian operations, and $0.7 million from acquisitions [4] - Adjusted EBITDA margin expanded by 780 basis points to 18.6% when excluding the impact of Project Milton [4] Market Data and Key Metrics Changes - The demand environment is showing signs of improvement, with a tightening of capacity observed, although international and ocean imports remain relatively soft [16][17] - The tender rejection rate has started to increase, indicating potential benefits for the company in the upcoming quarters [17] Company Strategy and Development Direction - The company is focusing on its proprietary global trade management platform, Navigate, which is expected to enhance visibility and decision-making for customers [5] - The launch of Ray, an AI-powered agent, aims to streamline quote requests and improve operational efficiencies [6] - The company remains virtually debt-free and is committed to a balanced approach to capital allocation, including stock buybacks and strategic acquisitions [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the prospects for growth, particularly with the ongoing development of the Navigate platform and the positive feedback from customers [19][20] - There are currently no immediate project opportunities from severe weather events, but the company is prepared to respond as needed [18] Other Important Information - For the six months ended December 31, 2025, net income decreased by approximately 33% to $6.6 million on revenues of $458.8 million [12] - Adjusted EBITDA for the six months ended December 31, 2025, was reported at $18.6 million, a decrease of 13.5% compared to the prior year [13] Q&A Session Summary Question: Can you discuss the current demand environment and any project work from severe weather? - Management noted a generally bullish sentiment with some improvement in demand, although international imports remain soft. They are monitoring the impact of tightening capacity on margins [16][17] Question: Should we expect any project work from severe weather? - Currently, there are no projects on the books, but the company is prepared to respond to natural disasters as they occur [18] Question: How much revenue is expected from Navigate this year? - Management refrained from providing specific revenue numbers but highlighted the growing interest from vendors as they onboard onto the platform, indicating a compounding effect on growth [19][20]

Financial Data and Key Metrics Changes - The company generated $11.8 million in Adjusted EBITDA for the second fiscal quarter ended December 31, 2025, reflecting a year-over-year increase of $5.7 million, or 93.4%, when excluding $5.9 million from Project Milton in the prior year [3][4] - Adjusted gross profit margin improved by 340 basis points to 27.3% compared to 23.9% in the year-ago period [4] - Net income attributable to Radiant Logistics decreased by approximately $1.162 million, or 18%, to $5.305 million on revenues of $232.1 million for the three months ended December 31, 2025 [9][10] - For the six months ended December 31, 2025, net income decreased by approximately $3.245 million, or 33%, to $6.598 million on revenues of $458.8 million [12] Business Line Data and Key Metrics Changes - Same-store growth contributed $3.6 million in U.S. operations, $1.4 million in Canadian operations, and $0.7 million from acquisitions [4] - Adjusted EBITDA margin expanded by 780 basis points to 18.6% when excluding the impact of Project Milton from the prior year [4] Market Data and Key Metrics Changes - The international and ocean imports market remains relatively soft, but there is a tightening of capacity with increasing tender rejection rates [17][18] - The company anticipates that the tightening capacity environment will positively affect overall margin characteristics in the upcoming quarter [18] Company Strategy and Development Direction - The company is focused on leveraging its proprietary global trade management platform, Navegate, to enhance visibility and decision-making in supply chain management [5] - The launch of Ray, an AI-powered agent, aims to streamline quote request administration and improve operational efficiencies [6] - The company plans to maintain a balanced approach to capital allocation through agent station conversions, acquisitions, and stock buybacks while investing in sales resources [8][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand environment, noting a general bullish sentiment and improvement in growth excluding project cargo [17] - There are no immediate project opportunities from recent severe weather, but the company remains prepared for potential natural disaster-related work [19] - The company is experiencing positive feedback and interest in Navegate, indicating a compounding effect as more vendors are onboarded [20][21] Other Important Information - The company remains virtually debt-free with no net debt as of December 31, 2025, and has a $200 million credit facility [7] - The stock buyback program resulted in the acquisition of $2.7 million of the company's stock during the quarter [7] Q&A Session Summary Question: Current demand environment and project work from severe weather - Management noted a generally bullish sentiment in the market, with some improvement in growth excluding project cargo, while international imports remain soft [17] - No project work is currently on the books from severe weather, but the company is monitoring the situation [19] Question: Expected revenue from Navegate this year - Management refrained from providing specific revenue numbers but highlighted positive feedback and increasing interest from vendors as they onboard onto the platform [20][21]

Proficient Auto Logistics (NasdaqGS:PAL) Q4 2025 Earnings call February 09, 2026 04:30 PM ET Company ParticipantsAlex Paris - President and Senior Managing DirectorAmy Rice - President and COOBrad Wright - CFOBruce Chan - Director of TransportationRick O'Dell - CEO and ChairmanRyan Merkel - Co-Group Head–IndustrialsTyler Brown - Associate VPOperatorGood day, and thank you for standing by. Welcome to the Proficient Auto Logistics fourth quarter financial information conference call. At this time, all partici ...

Financial Data and Key Metrics Changes - Total operating revenue for the full year 2025 was $430.4 million, an increase of 10.7% compared to 2024 [11] - Operating revenue for the fourth quarter of 2025 was $105.4 million, an increase of 11.5% over the fourth quarter of 2024 [11] - Adjusted EBITDA for the full year 2025 was $40.2 million, unchanged from 2024, while fourth quarter adjusted EBITDA was $9.2 million, a 32% increase year-over-year [11][12] - The adjusted operating ratio for the fourth quarter improved modestly compared to the prior year [7] Business Line Data and Key Metrics Changes - Total units delivered in 2025 exceeded 2.3 million, representing a 16.2% increase from 2024, although revenue per unit decreased by about 6% [12] - The company experienced growth primarily from market share gains and an acquisition, with the automotive market not growing significantly [13] Market Data and Key Metrics Changes - The automotive market peaked in March and April 2025, followed by a weaker performance for the remainder of the year [5] - January 2026 saw lower-than-expected sales, attributed to severe winter weather affecting dealership operations [8] Company Strategy and Development Direction - The company aims for continued margin expansion and market share gains, focusing on sustainable profitability and disciplined business retention [9][10] - The company is positioned to improve performance in a down market and generate strong cash flow [9] Management's Comments on Operating Environment and Future Outlook - Management noted that while the automotive market faces cost pressures, there is underlying demand due to an aging vehicle fleet and lower interest rates [9] - The company expects modest improvement in adjusted operating ratio due to restructuring initiatives and a normalization of claims performance [16] - Management expressed confidence in achieving year-over-year revenue growth for 2026, despite a challenging market environment [14] Other Important Information - A non-cash goodwill impairment charge of $27.8 million was recorded, reflecting changes in market conditions [8] - The company’s net debt to trailing 12-month adjusted EBITDA improved from 2.2x to 1.5x over the past year, enhancing flexibility for future capital decisions [12] Q&A Session Summary Question: Expectations for Q1 revenue and operating ratio - Management expects sequential revenue to be down but modest improvement in operating ratio [21] Question: Impact of non-domiciled CDLs on auto hauling market - Management noted that while there is some insulation from non-domiciled issues, it is impacting the recruiting of new drivers [24] Question: Stability of revenue per unit in 2026 - Management anticipates stability in revenue per unit, following significant volatility in the past year [29] Question: Capital allocation priorities - The company will prioritize debt paydown, with flexibility for M&A opportunities if they arise [31] Question: Revenue mix and competitive pricing environment - Management indicated that a healthier demand environment is needed for recovery in the spot market, with current pricing pressures affecting carrier bids [36][40] Question: Updates on M&A pipeline - The company is actively engaged in developing a pipeline and expects to pursue 1-2 acquisitions per year [54]

Chegg (NYSE:CHGG) Q4 2025 Earnings call February 09, 2026 04:30 PM ET Company ParticipantsBryan Smilek - VPDan Rosensweig - President and CEODavid Longo - CFOTracey Ford - VP of Investor RelationsConference Call ParticipantsRyan MacDonald - Senior AnalystOperatorGood evening and welcome to the Chegg, Inc. 4th Quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator ass ...

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $224 million, above the midpoint of guidance, and fiscal 2025 revenue totaled $948 million, reflecting a 12% year-over-year increase [8][14] - Gross margin for Q4 was 11.7%, which was 70 basis points above the midpoint of guidance [14] - Operating income for Q4 was $2.7 million, with net income per share at $0.01 [15] Business Line Data and Key Metrics Changes - The etch and deposition segments drove the year-over-year revenue growth, while demand in certain trailing edge markets softened [8] - The commercial space business grew significantly in 2025, now representing a notable portion of overall revenues [8] Market Data and Key Metrics Changes - The company is experiencing a sustained demand ramp driven by technology transitions, particularly in gate-all-around architectures and high-bandwidth memory [5] - The outlook for Q1 2026 anticipates revenues between $240 million and $260 million, indicating double-digit growth from Q4 2025 [9][16] Company Strategy and Development Direction - The company aims to increase market share through strategic capacity additions and responsiveness to customer demand [5] - A global footprint realignment is underway, focusing on expanding machining capacity in Mexico and a new manufacturing center in Malaysia [9][10] - The company is transitioning from an integration company to a product company, aiming for Ichor-branded products to support up to 75% of system content by year-end 2026 [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong growth year for 2026, with expectations for sequential growth every quarter [9] - The visibility for demand is solid, particularly for the second half of 2026, with indications that inventory levels at major customers are decreasing [48][60] Other Important Information - The company expects gross profit dollars to grow at twice the rate of revenues as the year progresses, with significant margin improvements anticipated by mid-year [11][16] - The anticipated non-GAAP effective tax rate is expected to be in the range of 20%-25% due to geographic profit distribution [18] Q&A Session Summary Question: Update on Q1 revenue guidance - Management noted that demand has strengthened since the last update, aligning with industry growth forecasts of 15%-20% [20][21] Question: Gross margin expectations - Management indicated that gross margins are expected to improve as production capacity is optimized and additional components are introduced [22][30] Question: Sequential growth expectations - Management expects the first half to be gas panel-heavy, with increased component supply contributing to growth in the second half [30] Question: Malaysia business relocation impact - Management acknowledged that the relocation may present short-term headwinds but emphasized that it is necessary for long-term capacity needs [31][32] Question: Demand visibility for 2027 - Management confirmed solid visibility for the next six months and indicated that customer feedback suggests a positive outlook for 2027 [48][49] Question: Inventory levels at major customers - Management stated that inventory levels are decreasing, indicating a need for replenishment, which aligns with revenue forecasts [58][60] Question: Growth opportunities in commercial space - Management aims to increase the commercial space business from under 5% to 10% of total revenue in the medium term [72]