Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
Artisan Partners Q2 2025 Earnings Call - Credit Push Amid Net Client Outflows and Leadership Handoff
Artisan closed Q2 with $176 billion AUM, leadership formally passed to Jason Gottlieb as CEO while Eric Colson moves to Executive Chair. The firm leaned into its credit and emerging markets franchises...
- Leadership transition completed: Jason Gottlieb is CEO as of June, Eric Colson moves to Executive Chair; Eric noted this was his 50th quarterly call since the IPO.
- Ending AUM $176 billion, up 8% sequentially; average AUM flat sequentially and up 5% versus prior year quarter year to date.
- Net client cash outflows totaled $1.9 billion in Q2, partly reflecting muted gross equity flow activity and a previously disclosed $1.2 billion separate account rebalancing in Q1.
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TTM Technologies Q2 2025 Earnings Call - Defense and AI Demand Drive Record EPS Despite Penang Ramp Delay
TTM reported a clean break from doom-saying: revenue jumped 21% year-over-year to $730.6 million and non-GAAP EPS hit a company quarterly record at $0.58. Margins improved, adjusted EBITDA came in str...
- Revenue rose 21% year-over-year to $730.6 million in Q2 2025.
- Non-GAAP EPS was a quarterly record at $0.58, adjusted EBITDA totaled $109.7 million.
- GAAP operating income was $61.8 million; GAAP net income was reported at $41.5 million, or $0.40 per diluted share (company also reported $60.8 million/$0.58 on a non-GAAP basis).
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Waystar Q2 2025 Earnings Call - $1.25B iodine deal fast-tracks AI mid-cycle, expands TAM and is positioned to be accretive
Waystar reported another quarter of durable growth and high profitability, with Q2 revenue of $271 million, up 15% year over year, and adjusted EBITDA of $113 million, a 42% margin. Management raised ...
- Q2 revenue $271M, up 15% year over year, marking Waystar’s fifth consecutive quarter of public-company double digit growth.
- Adjusted EBITDA $113M, margin 42%, outperforming long term ~40% target and driven by a mix shift toward higher margin provider solutions.
- Company raised 2025 revenue guidance to $1.03B–$1.042B (midpoint $1.036B, ~10% y/y) and adjusted EBITDA guidance to $418M–$426M (midpoint $422M, ~41% margin); guidance excludes iodine.
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Confluent Q2 2025 Earnings Call - Cloud Consumption Headwinds, But Flink and Platform Momentum Signal Durable Growth
Confluent reported a mixed but controlled quarter: subscription revenue rose 21% to $270.8M, driven by Confluent Cloud (28% growth to $150.5M) and Confluent Platform (12% to $120.3M), while non GAAP o...
- Subscription revenue grew 21% YoY to $270.8M in Q2 2025, representing 96% of total revenue.
- Confluent Cloud revenue rose 28% YoY to $150.5M and accounted for 56% of subscription revenue, but management warns of near term consumption headwinds.
- Confluent Platform revenue grew 12% YoY to $120.3M, and platform strength helped raise full year guidance.
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Western Union Q2 2025 Earnings Call - Stablecoins, AI and Digital Growth Offset U.S. Immigration Headwinds
Western Union reported a mixed quarter, with adjusted revenue roughly flat ex-Iraq and clear growth in digital and consumer services counterbalancing softness in U.S. retail caused by immigration enfo...
- Q2 adjusted revenue was roughly $1.026 billion reported; excluding Iraq adjusted revenue declined about 1% year over year, CFO also cited GAAP revenue of ~$1.0 billion for the quarter.
- Money transfer transactions fell 3% in the quarter, or 2% excluding Iraq, while cross border principal grew mid single digits on a constant currency ex-Iraq basis, reflecting fewer transactions but higher average principal per transaction.
- Branded digital performance remains a bright spot, with transactions up 9% and adjusted revenue up 6% in Q2, marking the seventh consecutive quarter of mid single digit or better digital revenue growth.
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Acadia Realty Trust Second Quarter 2025 Earnings Call - Street retail momentum, $15M signed pipeline to power multiyear NOI growth
Acadia used Q2 to sell a consistent story, not a soundbite. Leasing is accelerating across the company’s high‑value street corridors, management closed nearly $160 million of acquisitions in the quart...
- Leasing momentum is accelerating, with Acadia executing approximately $7.5 million of new leases year to date in 2025, roughly double the pace from the comparable 2024 period.
- Company has a $15 million S and O pipeline of signed but not yet open leases, representing about 7% of pro rata ABR, 85% of which is from the street and urban portfolio.
- Timing and earnings from the $15 million pipeline: about $11 million of ABR will commence in 2025, $4 million in 2026, producing roughly $3.0 million incremental earnings in 2025 ($2.5M in same store), $8.5M in 2026 ($5.3M same store), and ~$3.5M in 2027.
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CBIZ Q2 2025 Earnings Call - Acquisition Drives Scale and Margin Gains, But Macro Pushes Guidance to Low End
CBIZ reported a quarter reshaped by the recently closed Markham acquisition, which materially lifted revenue and margins even as a soft middle market and cost-conscious clients clipped pricing and pro...
- Consolidated Q2 revenue: $684 million; first half revenue: $1.5 billion, results largely driven by the Markham acquisition.
- Adjusted EBITDA: Q2 rose 128% (up ~$66 million); first half adjusted EBITDA more than doubled to $356 million.
- Adjusted EBITDA margin: 17% in Q2 and 23% year to date, about 500 basis points higher versus last year, helped by lower incentive comp and disciplined discretionary spending.
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Rhythm Capital Q2 2025 Earnings Call - Scaling asset management while mortgage and RTL units hit records
Rhythm posted a robust quarter: GAAP net income of $283.9M, earnings available for distribution of $291.1M, book value of $6.7B and a record $2.1B of cash and liquidity. The operating playbook is work...
- Company results: GAAP net income $283.9M, earnings available for distribution $291.1M, company ROE ~17% and EAD ROE ~18%; book value $6.7B ($12.71) and dividend $0.25 (yield ~8.9%).
- Record liquidity: Rhythm ended the quarter with about $2.1B of cash and liquidity to deploy across the platform.
- Assets under management and balance sheet mix: Rhythm manages roughly $80B in assets total, with $36B externally managed and roughly $8B of permanent capital.
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Compass Q2 2025 Earnings Call - Record Quarter, Recruiting Surge, and $50-75M Cost Program to Boost 2026 EBITDA
Compass reported a blowout Q2 with multiple company records across revenue, profitability, free cash flow, and platform engagement, while continuing to out-recruit peers and expand high-margin adjacen...
- Q2 was the strongest quarter in Compass history, setting records for revenue, adjusted EBITDA, adjusted EBITDA margin, GAAP net income, free cash flow, market share, agent recruiting, title & escrow revenue and attach, and platform engagement.
- Q2 revenue totaled $2.06 billion, up 21.1% year over year; gross transaction value (GTV) was $78.3 billion, up 20.3% year over year.
- Adjusted EBITDA for the quarter was $125.9 million, a 63% increase year over year, and GAAP net income was $39.4 million, up 90% YoY; free cash flow was a quarterly record $68.0 million.
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MakeMyTrip Q1 FY26 Earnings Call - Diversified mix cushions domestic shock as international and ancillaries drive revenue and margin expansion
MakeMyTrip delivered a quarter that felt like a market stress test. Domestic leisure was dented by the Belgaon security incident and an aircraft crash, yet the company offset the shock with faster gro...
- Q1 FY26 revenue (IFRS) was $268.8 million, up 7.8% year on year in constant currency.
- Adjusted operating profit reached $47.3 million, a 21% year on year increase; profit for the quarter was $25.8 million, up 22.6% year on year.
- Domestic leisure demand weakened materially in May and June after the Belgaon incident and an aircraft crash, but April bookings were strong with booking growth in the mid twenties.
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