Tuesday, February 17, 2026
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q4 results. Q4 revenue of $770 million was modestly below our estimate of $778 million, driven by ongoing softness in the Commercial segment, while adj. EBITDA of $50 million exceeded our estimate of $41 million as cost performance improved, resulting in a 6.5% adj. EBITDA margin.
New CEO outlines action plan. CEO Harsha V. Agadi outlined a framework centered on faster decision-making, reduced organizational complexity, and a “fix, sell, or grow” review of every business unit, with emphasis on financial discipline, cost reduction, and converting the pipeline into sustainable organic revenue and EBITDA growth.
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