Today's Finance Pulse
Autodesk to acquire MaintainX for $3.6B, expanding into operations software
Autodesk announced a $3.6 billion purchase of MaintainX, a leader in operational‑phase software for the built environment. The deal extends Autodesk’s portfolio from design and manufacturing into ongoing building operation, creating an end‑to‑end data loop. CEO Andrew Anagnost said the acquisition unlocks a $40 billion total addressable market.
Also developing:
By the numbers: Pemberton Asset Management closes $3.7B fourth vintage fund
Allurion Technologies Inc (ALUR) Q4 2025 Earnings Call Transcript
Allurion Technologies reported a record fourth‑quarter revenue of $1.05 billion, up 5.3% year‑over‑year, driven by a historic clear‑aligner volume of 677,000 cases. Non‑GAAP operating margin rose to 26.1%, while cash balances reached $1.09 billion. The Dental Service Organization (DSO) channel contributed roughly 25% of volume, delivering double‑digit growth across regions. Management guided 2026 revenue to $1.01‑$1.03 billion and announced limited‑release 3D‑printed retainers, noting early margin dilution.
AEON Biopharma Inc (AEON) Q4 2025 Earnings Call Transcript
Abeona Therapeutics reported 2025 results highlighting the commercial launch of ZevaSkin, its first autologous cell‑based gene therapy for recessive dystrophic epidermolysis bullosa. Total revenue reached $5.8 million, driven by $2.4 million product sales and a $1.5 billion gain from selling a priority‑review voucher,...
DiaMedica Therapeutics Inc (DMAC) Q4 2025 Earnings Call Transcript
ADMA Biologics reported a robust 2025 year, posting $510.2 million in revenue—a 20% increase year‑over‑year—driven primarily by rapid growth of its specialty IVIG product Ascentive. Adjusted EBITDA rose 40% to $231 million and adjusted net income climbed 35% to $160.8 million, reflecting strong...
VerifyMe Inc (VRME) Q4 2025 Earnings Call Transcript
VerifyMe Inc. reported Q2 2025 revenue of $4.5 million, a 17% decline year‑over‑year, while gross margin fell to 35% from 39%. Operating expenses were trimmed by 27%, driving adjusted EBITDA up to $300 k and narrowing the net loss to $290 k. Cash...
MSDW Podcast: What Equipment Rental Companies Really Need From ERP - Why Industry Depth Matters
The MSDW podcast highlighted the unique ERP demands of equipment‑rental firms, emphasizing the need for solutions that manage heavy‑use assets, frequent hand‑offs, and evolving customer expectations. Guests from STAEDEAN explained how industry‑specific functionality—covering accounting, service tracking, dispatch, and inventory—addresses these...
PDS Biotechnology Corp (PDSB) Q4 2025 Earnings Call Transcript
Palmer Square Capital BDC reported Q4 2025 results on Feb. 26, 2026, showing total investment income of $29.8 million, a 14.5% decline year‑over‑year, and net investment income of $13.1 million ($0.41 per share). The company paid a $0.43 per‑share dividend, including a...
Progress Software Corp (PRGS) Q1 2026 Earnings Call Transcript
Progress Software reported fiscal 2025 revenue of $978 million, a 30% year‑over‑year increase, driven largely by the full‑year contribution of its ShareFile acquisition. Earnings per share rose 16% to $5.72, and the fourth‑quarter operating margin hit 38%, surpassing guidance. ARR reached...
Citi Names Natural Resources Head for ANZ CMA Team- #CapitalMarkets #Finance
Citi has appointed Anders Svensson as managing director and head of its natural resources group for the Australia‑New Zealand capital markets and advisory team. Svensson arrives from Morgan Stanley after more than two decades covering oil, gas, metals and mining. He...
SCI-Webinar:-Repeat-Issuance-Reshapes-SRT-Market-Dynamics
The Structured Risk Transfer (SRT) market is moving toward programmatic issuance, with banks establishing repeatable platforms that standardize documentation and timing. Issuers now anchor transactions to annual windows, creating a branding effect that streamlines investor engagement and reduces execution friction....
Unicycive Therapeutics Inc (UNCY) Q4 2025 Earnings Call Transcript
Unicycive Therapeutics reported a 40% revenue drop to $16.1 million for 2025, primarily from lost collaboration and contract manufacturing income, while license revenue modestly rose. R&D spending slipped slightly to $140.7 million, but SG&A surged $12.8 million as the company ramps up...
Terns Pharmaceuticals Inc (TERN) Q4 2025 Earnings Call Transcript
Geron Corporation reported full‑year 2025 Rytelo net revenue of $184 million and projected 2026 revenue between $220 million and $240 million, driven by sequential demand growth and a focus on the estimated 8,000 second‑line lower‑risk MDS patients in the U.S. Q4 demand rose...
Phreesia Inc (PHR) Q4 2026 Earnings Call Transcript
Phreesia reported Q4 FY2026 revenue of $117.3 million, up 15% YoY, and posted its first GAAP net‑income positive quarter at $0.7 million. The company announced a definitive agreement to acquire AccessOne for $160 million in cash, a deal expected to add $35 million of...
Terrestrial Energy Inc (IMSR) Q4 2025 Earnings Call Transcript
Terex Corp completed its merger with REV Group, creating a standalone specialty vehicles segment and targeting $75 million of annual run‑rate synergies, half of which are expected within the next twelve months. The company delivered 2025 earnings per share of...
Nakamoto Inc (NAKA) Q4 2025 Earnings Call Transcript
Nasdaq (NASDAQ) reported full‑year 2025 net revenue of $5.2 billion, up 12% YoY, with solutions revenue surpassing $4 billion. Operating income rose 16% to $2.9 billion, delivering a 56% operating margin and a 24% increase in diluted EPS. The company achieved record index...
Neumora Therapeutics Inc (NMRA) Q4 2025 Earnings Call Transcript
Neumora Therapeutics reported Q4 2025 revenue of $41.9 million, bringing full‑year sales to $62.9 million driven by the rapid commercial uptake of its ROS1‑positive NSCLC therapy Iptrozi. The drug saw 432 new U.S. patients start treatment, with 216 in the quarter, a...
Lexeo Therapeutics Inc (LXEO) Q4 2025 Earnings Call Transcript
Exelixis reported record cabozantinib franchise revenue of $2.12 billion in the U.S. and $2.89 billion globally for 2025, a 17% year‑over‑year increase. Total Q4 2025 revenue reached $599 million, driven by $546.6 million from cabozantinib net product sales and $52.8 million in partner royalties. The...
Pockets-of-US-CMBS-Repay-Attention
US commercial mortgage‑backed securities (CMBS) are showing localized repayment activity after a period of muted performance. Structured‑credit executives highlighted that specific asset classes, such as retail and multifamily properties, are seeing improved cash‑flow and lower delinquency rates. The article notes...
Oxbridge Re Holdings Ltd (OXBR) Q4 2025 Earnings Call Transcript
Corebridge Financial reported a strong fourth‑quarter 2025, posting adjusted pretax operating income of $760 million and operating EPS of $1.22, a 15% year‑over‑year increase. Total sales reached a record $42 billion, up 4%, while the company returned $2.6 billion to shareholders, lifting the...
A 10% Dip Is Not A Green Light To Go All In
The author warns investors not to pour all cash into the market simply because the S&P 500 has slipped 10% from recent highs. A 10% decline is technically a correction, not a market bottom, and Fidelity’s historical data shows many...
Bitcoin Focused Nakamoto’s Collapse Underscores Fragility of Crypto Treasury Strategies
Nakamoto’s stock collapsed 99.34%, erasing roughly $23.3 billion in market value and highlighting the fragility of Bitcoin‑focused treasury firms. Strategy, formerly MicroStrategy, posted a $17.4 billion operating loss in Q4 2025 as Bitcoin prices fell below $67,000. MARA Holdings sold 15,133 Bitcoin for...
S&P 500 Forward P/E Ratios
Yardeni’s latest chart shows the S&P 500’s forward price‑to‑earnings ratios diverging sharply across market segments. The so‑called Magnificent Seven tech‑heavy stocks are trading above a 30‑times forward P/E, while the broader large‑cap index sits near 22‑times and small‑to‑medium caps hover around...
Liquidity and Solvency Ratios: Core Valuation Metrics
"Liquidity and solvency ratios are valuation inputs, not accounting trivia." Liquidity and solvency ratios aren’t just numbers, they show the real health of a company.
Why Rezolve AI (RZLV) Is Betting Big on Reward Loyalty to Scale Commerce Media and Payments
Rezolve AI PLC (NASDAQ:RZLV) announced a cash acquisition of Reward Loyalty UK Limited for $230 million, financed entirely from existing resources. The deal is non‑dilutive and is projected to contribute roughly $90 million of EBITDA‑accretive revenue. Reward Loyalty brings a live commerce‑media,...
ACM Research (ACMR) Shanghai Unit Outlines Profit Distribution Plan For Fiscal 2025
ACM Research’s Shanghai unit announced a cash dividend of RMB 6.233 per 10 shares (approximately $0.87) for fiscal 2025, the first dividend ever for the US‑listed company. The board has approved the payout, pending shareholder ratification at the 2026 AGM. Analyst...
MUB vs VGIT: Municipal Diversification Beats Treasury Yield in Five‑Year Returns
The iShares National Muni Bond ETF (MUB) delivered a 3.7% five‑year total return, outpacing the Vanguard Intermediate‑Term Treasury ETF (VGIT)’s 0.8% gain. While VGIT’s 0.03% lower expense ratio and marginally higher yield appeal to income‑focused investors, MUB’s 6,300‑plus municipal holdings...
Lawler: Update on GSEs
Fannie Mae and Freddie Mac increased agency MBS holdings by about $11.3 billion in February, the smallest rise since September 2025 and well below the $15.5 billion jump in January. The increase falls short of the White House’s January pledge for the...
JPMorgan, Pimco Say Bond Market Is Underestimating Slowdown Risk
JPMorgan and asset manager Pimco warned that the bond market is downplaying the risk of a sharp economic slowdown triggered by the ongoing US‑Iran conflict. Crude oil has surged past $110 a barrel, intensifying inflation pressures. Traders have largely fixated...
Beyond Heatmaps: Quantify Cyber Risk Financially
Heatmaps aren’t enough anymore for cyber risk. Leaders want to understand financial impact, not just red, yellow, green. https://buff.ly/zGxWwLP
1174: When Finance Must Reset the Narrative | Aidan Viggiano, CFO Twilio
In this episode, Twilio CFO Aidan Viggiano discusses how the company pivoted from rapid growth to re‑establishing financial discipline amid slowing revenue, tighter cost structures, and the need to rebuild investor confidence. Drawing on her two‑decade GE background, she explains...
Rising 5% Breakeven Inflation Threatens S&P Valuations
Bond markets have rapidly repriced near-term expectations for U.S. inflation in response to surging commodity prices. The implied 1-year breakeven inflation rate is now above 5% for the first time since 2022. Elevated bond market-implied inflation expectations may present a problem...
Use AI for Drafts, but Own the Final Output
There’s a question I’ve been mulling for a while now, and I think it’s time to write it down: when is it okay to use generative AI in a given business context, and when does it cross a line? I’ll...
Bear Den Partners Unites Berkshire East, Catamount Into Northeast Ski Platform
Bear Den Partners has combined Berkshire East Mountain Resort and Catamount Mountain Resort under a new Bear Den Mountain Alliance, linking four New England ski areas. The roll‑up, driven by family owners, aims to create operational synergies and secure long‑term...
SBI Funds Flags Israel‑Iran War as New Strain on Rupee, Remittances and Fiscal Outlook
SBI Funds Management warned that the ongoing Israel‑Iran conflict could pressure the Indian rupee, reduce outbound remittances and widen the fiscal deficit. The alert comes as oil prices surge, the rupee weakens and global investors adopt a defensive stance.
British Gilts Plunge in Global Bond Sell‑off as BOE Holds Rates Amid Iran War
British government bonds suffered the steepest price drops in the latest worldwide bond rout, with 10‑year gilt yields jumping to 5% after the Bank of England kept its policy rate at 3.75%. Analysts link the sell‑off to the BOE’s stance,...
Bursa Malaysia Braces for Cautious Trading as West Asia Conflict Dampens Sentiment
Bursa Malaysia warned that investors will likely adopt a defensive stance next week, citing the escalating Israel‑Iran conflict as a key drag on market sentiment. The exchange’s cautious outlook underscores how geopolitical risk is shaping equity flows in the region.
Fannie Mae Approves Crypto‑Backed Collateral for First‑Time Home Loans
Fannie Mae has authorized a new mortgage product that lets borrowers pledge Bitcoin or USDC as collateral for down payments, partnering with digital lender Better Home & Finance and Coinbase. The move, overseen by the FHFA, creates a two‑tier loan...
Europe Unveils €15 Bn Venture Capital Fund of Funds, the Largest Ever
European officials have launched a €15 bn ($16.4bn) venture‑capital fund of funds, the largest ever in Europe, aimed at channeling capital to VC firms across the continent. The initiative marks a watershed LP‑side commitment that could reshape funding dynamics for European...
Compliance as Code: GENIUS Act Redefines Financial Infrastructure
🔺 Is the "old era" of compliance finally dead? 🪦 In this episode of Fintech Conversations & Insights, Beth Haddock (Stablecoin Standard) explains why the GENIUS Act is forcing a total rethink of financial infrastructure. We dive into: ❌ Why "Honeypot" data collection...
The Compliance Blind Spot in Cyber Risk
Financial institutions are discovering that compliance can fail even when core systems stay online. Automated compliance judgments degrade silently when underlying data conditions change during cyber incidents, eroding the validity of regulatory outputs. Regulators are shifting focus from mere control...
SaaS Multiples Dip as Growth Steadies at 14%
SaaS valuations just hit multi-year lows — while growth is stabilizing. Over the past 12 months, the setup has quietly flipped 👇 • Median EV/Sales fell to 3.44x (at ATL) • NTM revenue growth rebounded to +14% YoY Valuations compressed. Growth held. Growth expectations stopped...
Liability Maneuvers Cut Bankruptcy Recoveries Nearly in Half
Sobering new read: Liability management maneuvers (LME) often fail to protect L-T value. Per @FitchRatings firms that undertook LMEs btw 2016 & H1 2025 before filing bankruptcy experienced recoveries for first-lien debt of ~39% vs recoveries of ~68% for firms w/o...
Insurers and Reinsurers Over‑leveraged, Not Subprime‑style
Insurers and reinsurers are 30x+ leveraged. If your conclusion is "leverage is nothing like with subprime" then you are missing the point. Completely.
OpenClaw’s Context Overhead Dwarfs Basic Accounting Tools
Dave from accounting doesn't compare to OpenClaw... Turns out context is expensive. 😭 Here's some things to consider running OpenClaw 👇 https://t.co/KENR64ykSa
Private Credit Cracks Deepen as Major Lenders Cut Losses
BlackRock slashed two private credit loans from par value to zero in months. Ares is limiting withdrawals, and Blue Owl has halted them. The cracks in private credit are spreading. IS PRIVATE CREDIT MAKING AMERICA GREAT AGAIN? https://t.co/FBZ2JFNGtC
S&P 500 Forward P/E Drops 16% as Earnings Rise
Stock valuations are compressing sharply even as earnings estimates keep rising. The S&P 500 forward P/E has fallen 16% while the index itself is down just 8.7%. 🔒 Members-Only https://t.co/QZg0BjpnPg
Strong SaaS Growth Offsets Multiple Contraction
While SaaS multiples have contracted meaningfully, 20-30% revenue CAGR since 2021 means that revenue has increased 150-250%, counteracting much of the multiple contraction from an LTV perspective (assuming no dividend recaps). Growth solves a lot of problems over time.
AI-Native Startups Give Founders Majority, Grant Larger Equity
Old model: Give 20% to VCs at Series A, spread a 10-20% option pool across 30+ heads - each person gets 0.25-1.5%. AI-native model: Skip the round entirely. Founders hold majority. If you need more folks, vest them at 3-5%+ each. Smaller...
10‑Year Treasury Yield Signals Oil’s Impending Downturn
Sec. Bessent, February 2025: "Judge us by the 10y UST yield." 10y UST yield (blue, RS) v. oil, since Bessent said that 👇 "3 Arrows" about to turn into "0-for-3 Arrows": https://t.co/goqhygmgv6
Rising Redemptions Highlight Risks and Opportunities in Private Credit
OUT NOW - @LeylaKuni on the turn in private credit: - redemptions from semi-liquid vehicles are rising - Business Development cos (BDCs) - where she is seeing greatest risks & opportunities Apple https://t.co/Bo97jddHak Spotify https://t.co/LktgvzsRaN https://t.co/BISkrZhVO0
Private Credit Risks Don't Mirror Subprime Crisis, Study Shows
As private credit's troubles mount, it's natural to wonder if it could lead to another financial crisis, as with subprime. I spent some time studying the parallels. Here's my answer. https://t.co/bmRhA0D1v4 https://t.co/u5Kj2GHdDc