Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Green Brick Partners Q2 2025 Earnings Call - Record volume, but incentives squeeze margins
Green Brick reported a quarter of operational milestones and mounting margin friction. The company set records for home closings and Q2 net new orders while revenue stayed flat, as rising incentives, ...
- Record operational volume: delivered a company record 1,042 home closings in Q2 2025, and posted a Q2 record 908 net new orders, up about 6% year over year.
- Revenue flat: Q2 home closings revenue was essentially unchanged year over year at $547 million despite higher volumes.
- Margins under pressure: home building gross margin declined 410 basis points year over year to 30.4%, an 80 basis point sequential decline, driven mainly by higher incentives.
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Ryan Specialty Holdings Inc. Q2 2025 Earnings Call - June Property Price Collapse Lowers Near-Term Outlook; M&A and Casualty Strength Keep Growth Intact
Ryan Specialty reported a solid Q2 with revenue up 23% to $855 million and adjusted EBITDA up 24.5% to $308 million, but the quarter ended with a jolt. Property pricing sharply decelerated in June, wi...
- Q2 total revenue grew 23% year over year to $855 million, driven by 7.1% organic growth and ~13 percentage points from M&A.
- Adjusted EBITDA rose 24.5% to $308 million, with adjusted EBITDA margin expanding 50 basis points to 36.1% in the quarter.
- Adjusted EPS was $0.66, up 13.8% versus prior year; adjusted effective tax rate for the quarter was 26% and management expects a similar rate for 2025.
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iRhythm Technologies Q2 2025 Earnings Call - Core monitoring momentum, Zio AT strength, and channel expansion lift revenue and margins
iRhythm reported a clean beat in Q2 with $186.7 million in revenue, up 26.1% year over year, driven by accelerating volume in its core long term continuous monitoring business, record Zio AT performan...
- Q2 revenue $186.7 million, up 26.1% year over year, driven mainly by core long term continuous monitoring volume growth.
- Company raised full year 2025 revenue guidance to $720 to $730 million, citing first half outperformance and sustained momentum across core, Zio AT, and innovative channels.
- Adjusted EBITDA was $15.7 million in Q2, an 8.4% margin, representing a 500 basis point improvement versus Q2 2024.
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COP Defense Q2 2025 Earnings Call - Record defense budget fuels leasing surge, portfolio 95.6% leased
COP Defense reported a solid Q2 with adjusted FFO per share of $0.68, a 6.3% year over year increase, and a string of outperformance that management says stretches across multiple quarters. Leasing mo...
- Adjusted FFO per share $0.68 in Q2, $0.02 above midpoint, up 6.3% year over year.
- Management cites a 30-quarter streak of outperforming FFO guidance, and 20 consecutive quarters of year over year FFO growth.
- Total portfolio leasing reached 95.6%, the highest level in nearly 20 years, with same-property cash NOI up 2.2% in Q2 and 4.6% year to date.
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Five9 Q2 2025 Earnings Call - Agentic AI Momentum Drives Booking, Revenue, and Margin Inflection
Five9 delivered a clean beat in Q2 2025, with subscription revenue accelerating to 16% year over year and total revenue up 12%. The company pointed to striking AI acceleration as the engine: enterpris...
- CEO Mike Burkland announced his intention to retire from the CEO role, will stay on as Executive Chairman until a successor is appointed; board has started a CEO search.
- Subscription revenue accelerated to 16% year over year and now constitutes 81% of total revenue.
- Enterprise AI revenue grew 42% year over year and represents roughly 10% of enterprise subscription revenue.
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Alphatec Holdings Inc. Q2 2025 Earnings Call - Profitability Inflection: Record Adjusted EBITDA, Positive FCF and Raised Guidance
Alphatec says Q2 marked a clear inflection: revenue surged, surgical demand accelerated, margins expanded, and the company produced positive free cash flow. Management reported $186 million in revenue...
- Total revenue $186 million in Q2 2025, up 27% year over year; surgical revenue $168 million, up 29% YoY.
- Procedural volume rose 28% driven by 21% surgeon adoption growth and a 6% increase in utilization.
- Same-store sales in established U.S. territories grew 29% year over year, management cites this as proof demand is organic not just from headcount growth.
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SPX Technologies Q2 2025 Earnings Call - Guidance Raised as New Data Center Product and Capacity Plans Drive Momentum
SPX reported a strong Q2 with adjusted EPS of $1.65, up 16% year over year, and raised full year guidance to $6.35 to $6.65 as management now sees roughly 18% adjusted EBITDA growth at the midpoint. R...
- Q2 adjusted EPS was $1.65, a 16% year over year increase.
- Company raised full year adjusted EPS guidance to $6.35 to $6.65, implying roughly 18% adjusted EBITDA growth at the midpoint.
- Total company revenue grew 10% year over year, driven by acquisitions (KTS, Sigma Omega) and higher project sales in Detection & Measurement.
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Landstar Systems Q2 2025 Earnings Call - Heavy haul growth offsets soft truckload demand amid rising claims and legal risk
Landstar delivered a mixed quarter. Overall revenue dipped 1% year over year, but truck revenue showed the first annual increase since 2022, helped by a strong heavy haul business that produced about ...
- Total revenue down 1% year over year in Q2 2025, but truck revenue rose year over year for the first time since 2022.
- Heavy haul was the standout, generating roughly $138 million in Q2, up 9% year over year driven by a 5% increase in revenue per load and 4% volume growth.
- Overall truck revenue per load improved 2.6% year over year and 3.2% sequentially, outperforming pre pandemic seasonality in Q2.
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AppFolio Q2 2025 Earnings Call - Realm-X AI Adoption Drives Revenue Upside and a Raised 2025 Guide
AppFolio reported a strong Q2 with revenue of $236 million, up 19% year over year, and non-GAAP operating margin of 26.2%. Growth was broad based, with Core Solutions at $52.5 million and value-added ...
- Revenue $236 million in Q2, up 19% year over year.
- Non-GAAP operating margin was 26.2%, roughly flat versus prior year (26%).
- AppFolio raised 2025 revenue guidance to $935 to $945 million, implying about 18% growth at the midpoint.
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Red Rock Resorts Second Quarter 2025 Earnings Call - Durango Drives Record Las Vegas Revenue and EBITDA
Red Rock posted an exceptional Q2, with Las Vegas operations delivering the highest quarterly net revenue and adjusted EBITDA in the company’s 49 year history. Durango Casino Resort continues to expan...
- Las Vegas ops delivered record quarterly net revenue of $513.3 million, up 6.2% year over year, and adjusted EBITDA of $239.4 million, up 7.3% year over year.
- Consolidated Q2 net revenue was $526.3 million, including $10 million of North Fork contributions, and consolidated adjusted EBITDA was $229.4 million, up 13.7% year over year.
- Adjusted EBITDA margin expanded to 46.7% in Las Vegas operations, a 47 basis point improvement, and consolidated adjusted EBITDA margin rose to 43.6%, up 212 basis points.
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