Dell Technologies Inc. (DELL) Q4 2025 Earnings Call Transcript

Start Time: 16:30 January 1, 0000 5:30 PM ET

Dell Technologies Inc. (NYSE:DELL)
Q4 2025 Earnings Call Transcript
February 27, 2025, 16:30 PM ET

Company Participants

Jeff Clarke – Vice Chairman and COO
Yvonne McGill – CFO
Tyler Johnson – Vice President and Treasurer
Paul Frantz – Head IR

Conference Call Participants

Wamsi Mohan – Bank of America
Erik Woodring – Morgan Stanley
Simon Leopold – Raymond James
Aaron Rakers – Wells Fargo
Michael Ng – Goldman Sachs
Ben Reitzes – Melius Research
David Vogt – UBS
Amit Daryanani – Evercore
Matt Niknam – Deutsche Bank
Ananda Baruah – Loop Capital
Samik Chatterjee – JPMorgan
Asiya Merchant – Citigroup

Operator

Good afternoon and welcome to the Fiscal Year 2025 Fourth Quarter Financial Results Conference Call for Dell Technologies Inc. I’d like to inform all participants that this call is being recorded at the request of Dell Technologies. This broadcast is a copyrighted property of Dell Technologies Inc. Any rebroadcast of this information in whole or part without the prior written permission of Dell Technologies is prohibited. [Operator Instructions]

I’d like to turn the call over to Paul Frantz, Head of Investor Relations. Mr. Frantz, you may begin.

Paul Frantz

Thanks, everyone, for joining us. With me today are Jeff Clarke, Yvonne McGill and Tyler Johnson. Our earnings materials are available on our IR website, and I encourage you to review those materials. Also, please take some time to review the presentation, which includes additional content to complement our discussion this afternoon. Guidance will be covered on today’s call.

During this call, unless otherwise indicated, all references to financial metrics refer to GAAP financial measures, including non- GAAP gross margin, operating expenses, operating income, net income, diluted earnings per share, free cash flow and adjusted free cash flow. A reconciliation of these measures to the most directly comparable GAAP measures can