FolioObs › NATIONAL RESH CORP (NRC) › Earnings calls

NATIONAL RESH CORP earnings calls

NRC · every analyst question and management's answer

Oct 27, 2026 earnings call — TRCV growth and Landmark implementation

Total recurring contract value finished at $151.9 million, up 11% year over year.

Revenue $0.0B (est $0.0B) · EPS $0.21 (est $0.18)

Key quotes

"Starting with TRCV, we finished the quarter with total recurring contract value of $151.9 million up 11% year over year, reflecting continued strength across our experience, market insights, and the governance institute portfolios."

— Shane R. Harrison (CFO) · TRCV and bookings

"Within the experienced family, we are particularly excited about the recent launch of ambient listening, with AgenTeq AI in a rounding solution."

— Trent Green (CEO) · AI product innovation

Analyst Q&A 4

TGI bookings and business size

Q (Constantine Davides · Citizens): Analyst asked what is driving bookings for TGI, how that converts to future revenue, the scale of the business today, and whether TRCV growing 10% is the right near-term growth view.

A: Management said TGI is a unique, high-margin product bought at the CEO/legal level that gives top-level access and helps open doors across organizations. They said TGI is only about 10% of the business today, so it won't move the top line much now, but membership has grown historically and they see room to grow. On TRCV they follow a gross policy and did not adjust TRCV; the annual gross-to-net amount is about $1.5 million and it does not materially change TRCV or margins.

"in terms of the overall, this is only about 10% of our business." — Trent Green (CEO)

AI: making money and saving costs

Q (Jeff Wilson · Atlanta Capital): Analyst asked how NRC will monetize the AgenTeq AI features (premium add-ons vs retention tool) and whether AI will let customer success or data teams scale and cut costs.

A: Management said AgenTeq AI features are embedded in the rounding subscription today rather than sold as a separate AI line, and they see AI now as features to differentiate NRC and improve wins and retention. They are evaluating possible premium monetization later but are not there yet. They are also assigning engineering and product resources to make customer success and implementation more efficient, and expect over time to improve cost to serve even if headcount may still grow with the business.

"So we do not presently have an AI skew for our AgenTeq tool that is embedded in our in our rounding product." — Trent Green (CEO)

Competitor deal effect and tax rate

Q (Josh Peters · Shiba Insight): Analyst asked what Qualtrics and Pressganey may be telling customers about platform changes or migration plans after their deal, and asked for a normalized tax rate to model for 2027 and beyond.

A: Management said the situation is ambiguous: some Prescany/Pressganey customers show interest in Qualtrics but there is no clear, market-wide communication or migration plan, and some active RFPs paused to reassess unified proposals. On tax, they said the Q2 charges (accelerated vesting/bonuses) lift the effective rate temporarily; model an effective tax rate in the high 20s (about 28%, 29%) and cash taxes typically in the lower to mid-20s.

"We will be through that. A good way that we model ourselves is you know, we are at the high 20s is about how we do our effective tax rate." — Shane R. Harrison (CFO)

New services, customer access, cross-sell

Q (John Lewis · Willis Investment Counsel): Analyst asked how new services (like rounding) let NRC reach more customer users, how that affects TRCV, and where customers buy multiple solutions from NRC.

A: Management said rounding and tools like Improvement Navigator move customers from insight to action and embed NRC tools into daily workflows, which makes NRC stickier and increases the number of daily users. They highlighted the Health Experience Foundation partnership to add clinical and operational advisory support tied to products to sustain improvement. On cross-sell, they said the Q1 landmark deal was a cross-sell and that roughly 70% (about 71%) of customers buy only one product today, so there is a long runway to sell more solutions into the base.

"So rounding is very much a engagement tool with frontline leaders." — Trent Green (CEO)

AI-generated notes on the earnings call transcript. Quotes are taken from the transcript. This is not a FolioObs investment view.

NATIONAL RESH CORP (NRC) · Earnings calendar

Other earnings calls this week

  • GOOGL · ALPHABET INC — Gemini 4 models and Cloud TPU scaling
  • AMZN · AMAZON.COM INC — AWS AI growth and company results
  • MSFT · MICROSOFT CORP — Copilot expansion and AI-driven Azure growth
  • GOOG · ALPHABET INC-CL C — Gemini 4 launch and Cloud TPU scaling
  • V · VISA INC — Tokenization, VAS growth, and agentic commerce focus
  • MA · MASTERCARD INCORPORATED — Network expansion and agentic commerce push
  • SPGI · S&P GLOBAL INC — Strategic review of Capital IQ and data businesses
  • DASH · DOORDASH INC - A — Instacart deal and DashMart expansion

All of this week's earnings call summaries

FolioObs Features | 주요 기능

  • Dashboard — SEC 13F Portfolio Tracker, FolioObs 50 | 대시보드
  • AI Insights — Portfolio Analysis & Signals | AI 인사이트
  • Insider Trading — SEC Form 4 Tracker | 내부자 거래
  • Cathie Wood Today's Trades + AI Insights | 캐시 우드 오늘의 매매
  • ARK Invest Report — Daily Trades | ARK 리포트
  • Investment News — Data-Driven Updates | 뉴스
  • Weekly Report — Market Movers | 주간 리포트
  • How to Read a 13F — 5-Minute Guide | 13F 읽는 법
  • The FolioObs 50 — All Tracked Investors | FolioObs 50 전체 보기
  • Wall Street Consensus — Shared Holdings | 월가 컨센서스
  • US Politician Trades — STOCK Act | 정치인 매매 추적
  • Earnings Calendar | 실적 발표 캘린더
  • This Week's Earnings Call Summaries | 이번 주 어닝콜 한 줄 요약

FolioObs 50 | 추적 중인 월가 투자자 50인

  • Warren Buffett — Berkshire Hathaway | 워렌 버핏
  • Cathie Wood — ARK Invest | 캐시 우드
  • Stanley Druckenmiller — Duquesne Family Office | 스탠리 드러켄밀러
  • Ray Dalio — Bridgewater Associates | 레이 달리오
  • George Soros — Soros Fund Management | 조지 소로스
  • Bill Ackman — Pershing Square Capital | 빌 애크먼
  • David Tepper — Appaloosa Management | 데이비드 테퍼
  • Chase Coleman — Tiger Global Management | 체이스 콜먼
  • Dan Loeb — Third Point | 댄 로엡
  • Seth Klarman — Baupost Group | 세스 클라만
  • National Pension Service (NPS) — Korea National Pension Service | 국민연금
  • David Einhorn — Greenlight Capital | 데이비드 아인혼
  • John Paulson — Paulson & Co | 존 폴슨
  • Howard Marks — Oaktree Capital Management | 하워드 막스
  • Leon Cooperman — Omega Family Office | 레온 쿠퍼먼
  • Ken Griffin — Citadel | 켄 그리핀
  • Steve Cohen — Point72 Asset Management | 스티브 코헨
  • Li Lu — Himalaya Capital | 리 루
  • Mohnish Pabrai — Pabrai Investment Funds | 모니시 파브라이
  • Bruce Berkowitz — Fairholme Capital Management | 브루스 버코비츠
  • Nelson Peltz — Trian Fund Management | 넬슨 펠츠
  • Carl Icahn — Icahn Capital | 칼 아이칸
  • Paul Singer — Elliott Management | 폴 싱어
  • Philippe Laffont — Coatue Management | 필립 라퐁
  • Andreas Halvorsen — Viking Global | 안드레아스 할보르센
  • Daniel Sundheim — D1 Capital | 다니엘 선드하임
  • Masayoshi Son — SoftBank Group | 손정의
  • Terry Smith — Fundsmith | 테리 스미스
  • Joel Greenblatt — Gotham Asset Management | 조엘 그린블랫
  • Bill Miller — Miller Value Partners | 빌 밀러
  • Brad Gerstner — Altimeter Capital | 브래드 거스트너
  • Rajiv Jain — GQG Partners | 라지브 자인
  • Duan Yongping — H&H International | 돤융핑
  • Chris Hohn — TCI Fund Management | 크리스 혼
  • Stephen Mandel — Lone Pine Capital | 스티븐 만델
  • Prem Watsa — Fairfax Financial | 프렘 왓사
  • Sequoia Fund — Ruane Cunniff & Goldfarb | 세쿼이아 펀드
  • Guy Spier — Aquamarine Capital | 가이 스파이어
  • Lee Ainslie — Maverick Capital | 리 아인슬리
  • David Abrams — Abrams Capital | 데이비드 아브람스
  • Pat Dorsey — Dorsey Asset Management | 팻 도시
  • Dev Kantesaria — Valley Forge Capital | 데브 칸테사리아
  • Francois Rochon — Giverny Capital | 프랑수아 로숑
  • Thomas Russo — Gardner Russo & Quinn | 토마스 루소
  • Tweedy Browne — Tweedy Browne | 트위디 브라운
  • Temasek — Temasek Holdings | 테마섹
  • Saudi PIF — Public Investment Fund | 사우디 국부펀드
  • Baillie Gifford — Baillie Gifford | 베일리 기포드
  • Ron Baron — Baron Capital | 론 배런
  • Thomas Gayner — Markel Group | 토마스 게이너