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
Lucara Posts Lower 2025 Revenue, Says Additional Funding Required
Lucara Diamond reported a 22% drop in 2025 revenue to C$159.7 million and net income falling to C$26.1 million as it advanced the Karowe underground expansion in Botswana. The company completed the 776 m production and 729 m ventilation shafts, but the updated feasibility study lifted the UGP total cost to C$779.2 million, a 14% increase. Despite a C$165 million equity raise and a C$190 million project‑finance facility, Lucara warned that its committed liquidity will not cover the revised cost‑to‑complete, risking a covenant breach by July 2026. For 2026, the firm projects diamond revenue of C$100‑130 million from 340‑360 k carats, while continuing to deliver large, high‑value stones.
Big Battery Deals Dominate as Investors Buy, Sell, Finance and Contract Australian Energy Storage
In Q4 2025, battery energy storage systems dominated Australian renewable investment activity, featuring in 16 financing, M&A and offtake deals and representing 2.16 GW of transaction volume. Solar projects contributed 675 MW, with 90 % of that capacity in hybrid configurations. New South Wales...
Chingari’s Operating Scale Declines 53% in FY25
Chingari, the Indian short‑video app turned paid private‑live‑streaming platform, reported a 53% year‑on‑year drop in operating revenue for FY25. Revenue fell to Rs 44 crore, while the company’s loss narrowed to Rs 8.8 crore after cutting expenses by more than half. The pivot shifted...
Apollo's Zito Sees Private Credit Pain Lasting Up To 18 Months
Apollo Global Management co‑president John Zito warned that the private‑credit market’s turbulence could persist for the next 12 to 18 months. While acknowledging a wave of fund withdrawals, he downplayed them as a systemic problem. Zito highlighted a widespread misunderstanding...
DBS China Captures 38% of Panda Bond Market in 2025; Secures Principal Underwriting License
DBS China participated in 65.8 billion yuan of Panda‑bond issuances in 2025, capturing a 38% share of the China Interbank Bond Market. The bank also received a principal underwriting licence for non‑financial corporate bonds, the most extensive authority granted by the...
Covenant Trends – 3/2/2026
On March 2, 2026, The Lead Left published its latest Covenant Trends report, highlighting the “Accordion Inside Maturity” covenant pattern. The release includes a detailed chart and a downloadable Excel file (66.8 KB) containing the underlying data. The dataset is intended...
The Pulse of Private Equity – 3/2/2026
The latest PitchBook data shows median enterprise‑value‑to‑revenue (EV/revenue) multiples for North American and European private‑equity buyouts of $2.5 billion or more climbed to 5.5 times in 2025, up from 4.7 times in 2015. After hitting a trough in 2023, valuations rebounded to levels...
Guest Post: Will Allowing Companies to Block Shareholder Suits Create a D&O Mess?
In September 2025 the SEC overturned decades‑old guidance and now allows public companies to include forced arbitration clauses in their IPO registration statements. The change is expected to drive up legal expenses for securities claims, as firms will face dozens...
Endeavour Group Sees Retail Profits Hurt by Low-Cost Push
Endeavour Group’s half‑year earnings show a 17.1% drop in net profit to $247 million despite a modest 0.2% rise in retail sales to $5.5 billion. The decline stems from an aggressive low‑price strategy that squeezed the retail drinks gross margin down 84...
Full Fee Disclosure Drives Client to Switch Banks
A client moved to me after 6 years with a private bank. He didn't leave because of poor performance. He left because he finally saw the full fee statement. His relationship manager had never shown him the total annual cost in dollars.
Triplepoint Venture Growth BDC Corp (TPVG) Q4 2025 Earnings Call Transcript
TriplePoint Venture Growth BDC reported a $73 million increase in its debt investment portfolio for Q3 2025, marking the third straight quarter of growth and a year‑to‑date rise of nearly $110 million. New commitments surged to $182 million, with 90% directed toward AI,...
Janus International Group Inc (JBI) Q4 2025 Earnings Call Transcript
Janus International Group reported Q4 2025 revenue of $219.3 million, a 4.7% year‑over‑year decline driven primarily by pricing pressure and lower volume. Adjusted EBITDA rose 1.2% to $43.6 million, lifting the margin to 19.9% after cost‑saving initiatives. International sales surged 32.9% while...
Hudson Technologies Inc (HDSN) Q4 2025 Earnings Call Transcript
Hudson Technologies reported Q2 2025 revenue of $72.8 million, a 3% decline driven by cooler weather delaying the cooling season. Gross margin improved to 31% thanks to higher refrigerant prices, lifting gross profit to $22.8 million. Net income rose to $10.1 million on...
NACCO Industries Inc (NC) Q4 2025 Earnings Call Transcript
NACCO Industries reported third‑quarter 2019 results, with revenue modestly rising to $32.6 million while operating profit fell to $8.7 million. Net income increased to $10.3 million, driven by a $2.7 million pre‑tax payment from an India venture. Management forecast 2020 coal deliveries to grow,...
Mistras Group Inc (MG) Q4 2025 Earnings Call Transcript
Mistras Group reported Q3 fiscal 2025 revenue of $195.5 million, a 7% year‑over‑year increase driven by growth across all five major verticals. Adjusted EBITDA reached a record $30.2 million, up 29.6% and yielding a 15.4% margin, while net income more than doubled...
Sight Sciences Inc (SGHT) Q4 2025 Earnings Call Transcript
Sight Sciences reported fourth‑quarter 2025 revenue of $20.4 million, a 7% year‑over‑year increase, driven by $19.7 million from interventional glaucoma and $0.7 million from the newly reimbursed interventional dry‑eye segment. Gross margins remained strong at 87% overall, while operating expenses fell 25% after...
Seaport Entertainment Group Inc (SEG) Q4 2025 Earnings Call Transcript
Seaport Entertainment Group reported Q4 2025 consolidated revenue of $45.1 million, a modest 1% year‑over‑year increase, while net loss narrowed to $33.2 million, or $2.61 per share, a 56% improvement. Adjusted EBITDA rose sharply—up 40% on an exclusionary basis—despite headline declines driven...
Verastem Inc (VSTM) Q4 2025 Earnings Call Transcript
Verastem reported $1.7 million in COPIKTRA net revenue for Q1 2019, a 38% increase over the prior quarter, and achieved reimbursement coverage with more than 92% of targeted health plans. Clinical updates highlighted the Phase 3 DUO trial, which showed...
Altisource Portfolio Solutions SA (ASPS) Q4 2025 Earnings Call Transcript
Altisource Portfolio Solutions reported Q2 2025 service revenue of $40.8 million, up 11% year‑over‑year, and adjusted EBITDA of $5.4 million, a 23% increase. GAAP net income swung to $16.6 million from an $8.3 million loss, helped by a tax reserve reversal and lower interest expense....
Stem Inc (STEM) Q4 2025 Earnings Call Transcript
Stem Inc. posted Q3 2025 revenue of $38 million, a 31% year‑over‑year increase, and ARR rose to $60 million, up 17%. The company recorded a second straight quarter of positive adjusted EBITDA ($2 million) and generated $11 million of operating cash flow. Management highlighted...
Magnachip Semiconductor Corp (MX) Q4 2025 Earnings Call Transcript
Magnachip Semiconductor reported Q4 2025 revenue of $40.6 million, a 17% year‑over‑year decline, and a gross margin of 9.3% after a one‑time $2.7 million sales incentive reduced profitability. Adjusted operating loss widened to $11.9 million and adjusted EBITDA turned negative...
Grocery Outlet Holding Corp (GO) Q4 2025 Earnings Call Transcript
Grocery Outlet Holding Corp reported a 5% decline in Q4 2025 net sales to $76.8 million, with full‑year sales also down 5% to $276 million. Gross margin fell to 44.1% from 47.9% as incremental tariffs added roughly $16 million in costs, outpacing a...
Aquestive Therapeutics Inc (AQST) Q4 2025 Earnings Call Transcript
Ascent Industries reported Q4 2025 results highlighting a near‑1000‑basis‑point gross‑margin expansion and a 61% rise in gross profit despite a 7% full‑year revenue decline. Adjusted EBITDA loss narrowed by $4.1 million year‑over‑year, while the company secured $9.4 million of annualized revenue from...
Ardent Health Inc (ARDT) Q4 2025 Earnings Call Transcript
Ardent Health reported solid volume and revenue growth in Q3 2025, with revenue up 8.8% to $1.58 billion and adjusted EBITDA rising 46% to $143 million. However, the company lowered its full‑year adjusted EBITDA guidance to $530‑$555 million, citing accelerating professional‑fee expenses and...
MSDW Podcast: From Close to Confidence with Velixo
Velixo senior product manager and CPA Jim Norton discussed the challenges of year‑end closing in Dynamics 365 Business Central on the MSDW podcast. He warned that weak close processes, reliance on Excel‑based reports, and manual data exports heighten audit friction for...
Miller Industries Inc (MLR) Q4 2025 Earnings Call Transcript
Miller Industries reported a strong rebound in Q4 bookings, up 42% sequentially and 35% year‑over‑year to $540 million, signaling early demand recovery, especially in North America. Despite this, revenue fell to $923 million and the company posted a $16 million adjusted operating loss,...
Global Water Resources Inc (GWRS) Q4 2025 Earnings Call Transcript
Global Water Resources reported Q1 2020 revenue of $8.2 million, a 6.6% increase year‑over‑year, driven by 4.7% organic connection growth and higher consumption. Adjusted EBITDA rose 18.4% to $4.1 million, while operating expenses fell slightly, reflecting cost discipline and the recent in‑house billing...
Advanced Flower Capital Inc (AFCG) Q4 2025 Earnings Call Transcript
Advanced Flower Capital Inc. reported Q2 2025 results, posting $0.15 per share in non‑GAAP distributable earnings and a GAAP loss of $13.2 million. The loan portfolio held steady at $357.9 million across 15 assets, delivering a weighted‑average 17% yield to maturity....
Structural-Protections,-Prime-Mortgages-and-Residential-ABS
In a recent SCI interview, Adam Rizkalla of Canyon Partners highlighted how structural protections are reshaping the residential ABS market, especially for prime mortgage pools. He explained that enhanced tranche designs and over‑collateralisation are reducing investor risk while preserving yield....
How Nvidia Turned a Steal of a Deal Into Its Secret Weapon
Nvidia leveraged its 2020 $7 billion acquisition of Mellanox to transform its networking business into a major growth engine. In the most recent fiscal quarter the company reported $11 billion in networking revenue, a 263 % increase year‑over‑year, positioning it as the world’s...
#58490
Effective March 3, 2026 the NSCC will no longer accept exercise and assignment activity for Trineso PLC (TSE) options, prompting the OCC to shift all settlements to a broker‑to‑broker model. The underlying deliverable remains 100 TSEOF shares, but if delivery is impossible the...
Brookfield Asset Management Announces $1 Billion Commercial Paper Program
Brookfield Asset Management announced a new private‑placement commercial paper program with a $1 billion ceiling. The unsecured notes will be issued on a short‑term basis to diversify the firm’s funding mix and bolster its balance sheet. Proceeds are slated for general...
Space Force Modernization Push Runs Into Acquisition Workforce Shortfall
The Space Force’s push to modernize its space capabilities is being hampered by a critical shortage of contracting officers and financial managers. As the service moves from buying discrete hardware to fielding integrated warfighting systems, it needs acquisition professionals with...
Ayar Labs Closes $500M Series E, Accelerates Volume Production of Co-Packaged Optics
Ayar Labs announced a $500 million Series E round led by Neuberger Berman, bringing total funding to $870 million and valuing the company at $3.75 billion. The capital will be used to scale high‑volume production and testing of its co‑packaged optics (CPO) solution, expand...
Nine Percent of Full-Service Restaurants at Risk of Closing in 2026, Black Box Warns
Black Box Intelligence warns that nine percent of full‑service restaurants in the United States are “at risk” of closing by 2026 after falling more than 30 % of their peak sales since 2019. The at‑risk units are concentrated in the West,...
Ares CEO Says UBS Call on 15% Private Debt Default ‘Absolutely Wrong’
Ares Management CEO Mike Arougheti dismissed UBS analysts' worst‑case projection that private‑credit defaults could hit 15%, labeling it irresponsible. UBS warned the scenario could materialize if artificial‑intelligence disruption spikes borrower distress, but otherwise expects defaults to rise about 5% before...
How Does the U.S. Tax System Stack Up?
The United States collects general‑government tax revenue equal to about 25.5% of GDP, roughly ten percentage points below the OECD average. Only two‑thirds of that revenue comes from the federal level, a share far lower than other industrial federations. Compliance...
Top 5 ERP Software for Singapore’s Building Material Businesses in 2026
Singapore’s building‑material sector is entering a digital modernization wave, making ERP systems mission‑critical for finance, logistics, and compliance. A recent e27 report ranks the top five ERP platforms chosen by local distributors, emphasizing deep integration with Singapore’s GST, InvoiceNow e‑invoicing,...
Your Cap Table Didn't Kill Your Round
The article argues that a messy cap table is rarely the true cause of a failed funding round; investors often use vague equity complaints as a polite rejection. Real cap‑table issues are solvable with time, money, and transparency, but they...
Cricut, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results
Cricut, Inc. posted a modest revenue decline of 3% in Q4 2025, with full‑year sales flat at $708.8 million, but highlighted a 22% rise in net income and a 26% jump in operating profit to $96 million. Platform revenue grew 5% year‑over‑year,...
Direct Indexing Is Not New, but It Has Become Newly Essential
Direct indexing, once a niche tool for the ultra‑wealthy, is now becoming a core component of portfolio construction thanks to advances in technology and lower operational costs. Continuous monitoring enables advisors to make incremental, tax‑loss harvesting adjustments throughout the year...
The Nakamoto Flywheel Strategy for Scaling a Bitcoin Treasury with BTC Inc | BFC Show Ep. 28
In this episode, host Pierre Rochard chats with Tyler Evans of Nakamoto about the evolution of Bitcoin media, conferences, and the launch of UTXO Management, culminating in the merger of these businesses under the publicly listed Nakamoto company. Evans explains...
AICPA Auditing Standards Board Plans Future Projects
The AICPA Auditing Standards Board released its 2026‑27 work plan alongside a five‑year strategic roadmap through 2030. Key initiatives include a fraud‑focused standards update slated for Q3 2026, a sustainability attestation framework, and new guidance on audit confirmations. The board...
Company Sells OpCo, Returns 90% Proceeds, Exceeds Market Cap
Sale followed by a large capital return - Co selling its entire OpCo while returning 90% of the proceeds to shareholders - Distributions alone exceed the co's current mcap - Plus you get a RemainCo with meaningful net cash and a small growth...
Software Buyout Lending Shows Near‑zero Default
No wonder direct lending to software buyouts was so popular. Out of 300+ loans that Blue Owl has made since inception, only one has defaulted. That one loan was to finance Vista Equity's $3.5 billion buyout of Pluralsight in 2021. Blue Owl...
Upload All Your Tax Information to Grok, What Could Go Wrong?
Elon Musk promoted xAI's Grok as a tool that can ingest and process users' tax documents, promising faster refunds. Early adopters claim the AI helped increase a refund by $1,400, though Grok explicitly states it does not provide tax advice....
Treasury Firms Lag Behind STRC's Bitcoin Playbook
It’s absolutely appalling that every single treasury company isn’t copying the STRC playbook. If I was running a Bitcoin treasury company, I’d have started the process to launch this months ago.
JLL Secures $36M Acquisition Financing for Chicago Industrial Portfolio
JLL arranged $35.6 million in acquisition financing for a 411,781‑square‑foot Chicago infill industrial seed portfolio comprising four shallow‑bay assets. The financing backs a newly formed joint venture between Matterhorn Venture Partners and TPG Angelo Gordon U.S. Real Estate, which has pledged...
Luxury Movie Theater Chain iPic Files for Bankruptcy
Luxury cinema chain iPic Theaters has entered Chapter 11 bankruptcy protection, reporting a $20 million loss on $112.5 million revenue and assets between $10 million and $50 million. The filing follows a steep decline in ticket sales, heightened competition from streaming services, and lingering effects...
PayPal and TCS Blockchain Modernize Logistics Payments
PayPal and TCS Blockchain have partnered to launch a blockchain‑based payment platform that uses PayPal USD (PYUSD) stablecoin to settle freight invoices. The solution promises same‑day, year‑round settlement and cost reductions of up to 90% compared with traditional invoice factoring....