Financial Performance - Revenue for Q3 FY2026 was $1.21 billion, representing 29% year-over-year growth[3] - Product revenue for the quarter was $1.16 billion, also reflecting a 29% year-over-year increase[5] - Net revenue retention rate stood at 125% as of October 31, 2025[3] - The company has 688 customers with trailing 12-month product revenue greater than $1 million, a 29% increase year-over-year[3] - Remaining performance obligations reached $7.88 billion, indicating a 37% year-over-year growth[3] - Product gross profit was $837.6 million with a margin of 72%[6] - Operating income (loss) was ($329.5) million, reflecting a 27% year-over-year decline[6] - Guidance for Q4 FY2026 projects product revenue between $1,195 million and $1,200 million, representing a 27% year-over-year growth[7] - Full-year FY2026 product revenue guidance is set at $4,446 million, indicating a 28% year-over-year growth[8] - Product revenue for the three months ended October 31, 2025, was $1,212,909,000, representing a 28.8% increase from $942,094,000 in the same period of 2024[23] - The company reported a net loss attributable to Snowflake Inc. for the three months ended October 31, 2025, was $293,957,000, compared to a net loss of $324,279,000 for the same period in 2024, indicating a reduction in losses[23] - Total revenue for the nine months ended October 31, 2025, was $3,399,952, a 29% increase from $2,639,626 in the same period of 2024[29] - Year-over-year growth for total revenue in Q3 2025 was 29%, consistent with the growth rate for the nine-month period[29] Customer Metrics - The company has over 12,600 customers globally, including hundreds of the world's largest companies, utilizing its AI Data Cloud[21] - The number of customers with trailing 12-month product revenue greater than $1 million is a key metric, indicating strong customer engagement and revenue generation[16] Operating Expenses and Profitability - Operating expenses for the three months ended October 31, 2025, totaled $1,151,509,000, up from $986,657,000 in the same period of 2024, reflecting increased investment in growth[23] - Total operating expenses reached $1,151.50 million, a 5% increase from $986.66 million in the previous year[1] - GAAP gross profit for Q3 2025 was $822,036, which is 68% of total revenue, compared to 66% in Q3 2024[29] - Non-GAAP gross margin was 68%[30] - The company achieved a non-GAAP product gross profit of $879,165 in Q3 2025, reflecting strong operational performance[29] - Stock-based compensation related charges were $394.94 million, compared to $335.13 million in the prior period, indicating a significant increase[1] Cash Flow and Investments - Cash provided by operating activities for the nine months ended October 31, 2025, was $440,788,000, down 16% from $527,039,000 in the same period of 2024[27] - The company reported a net cash used in investing activities of $106,996,000 for the nine months ended October 31, 2025, compared to a net cash used of $34,242,000 in the same period of 2024[27] - Snowflake's purchases of investments amounted to $1,990,216,000 for the nine months ended October 31, 2025, compared to $2,288,985,000 in the same period of 2024, indicating a decrease of 13%[27] Strategic Focus and Future Guidance - The company continues to focus on developing new products and enhancing existing services, particularly in the AI and data management sectors[18] - Future guidance indicates a focus on strategic investments and market expansion initiatives[1] - The company plans to enhance its product offerings through new technology developments and acquisitions[1] Net Income and Loss - The company reported a net income of $1.97 billion, a decrease from $1.79 billion year-over-year[1] - Non-GAAP net income for the three months ended October 31, 2025, was $131.2 million, representing an increase of 79% compared to $73.2 million for the same period in 2024[32] - GAAP net loss attributable to the company was $293,957,000, reflecting a 24% decrease from $324,279,000 in the previous period[31] - The company reported a GAAP net loss per share attributable to Snowflake Inc. common stockholders—basic of $(0.87) for the three months ended October 31, 2025, compared to $(0.98) for the same period in 2024[32]

Exhibit 99.1 nCino Reports Third Quarter Fiscal Year 2026 Financial Results WILMINGTON, N.C., December 3, 2025 -- nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced financial results for the third quarter of fiscal year 2026, ended October 31, 2025. "I'm extremely proud of our team's strong execution in the third quarter, delivering results that exceeded expectations while advancing our AI leadership position," said Sean Desmond, CEO at nCino. " ...

Financial Performance - For the fiscal year ended August 31, 2025, the company generated approximately $1.599 billion in residential mortgage loan originations, an increase of $70 million, or approximately 4.6% year-over-year[294]. - The company's net loss for the year was approximately $3.538 million, an improvement from a net loss of $4.093 million in the prior fiscal year, primarily due to higher funded mortgage volumes and efficiency gains from technology investments[295]. - Gross billings increased from $16.264 million for the fiscal year ended August 31, 2024, to $17.431 million for the fiscal year ended August 31, 2025, representing a year-over-year increase of approximately 7.18%[312]. - Revenue for the year ended August 31, 2025, was $2.987 million, compared to $2.689 million for the year ended August 31, 2024, representing an increase of $297,836, or 11.08% year-over-year[313]. - The Company recorded a loss from operations of $2.948 million for the fiscal year ended August 31, 2025, an improvement of approximately $0.877 million or 22.93% year-over-year[336]. - The net loss for the fiscal year ended August 31, 2025, was $3.638 million, compared to a net loss of $4.103 million for the fiscal year ended August 31, 2024, representing an improvement of $464,194, or 11.31%[340]. Cost Management - The cost of gross billing, primarily commission expense, increased from $14.896 million in fiscal 2024 to $15.827 million in fiscal 2025, reflecting a 6.25% increase year-over-year[315]. - Selling, general, and administrative (SG&A) expenses decreased by $128,281, or 5.38%, from $2,382,225 in fiscal 2024 to $2,253,944 in fiscal 2025, reflecting a focus on cost management and operational efficiency[318]. - Software subscription expenses decreased by $151,636, or 16.87%, to $747,234 in fiscal 2025, due to optimization of technology infrastructure and consolidation of third-party software tools[319]. - Salaries, wages, and benefits decreased by $791,759, or 32.49%, from $2,436,783 in fiscal 2024 to $1,645,024 in fiscal 2025, driven by organizational streamlining efforts[331]. - The company continues to balance growth in gross billings with disciplined cost management through enhanced automation and agent-performance analytics[316]. Cash Flow and Liquidity - Net cash used in operating activities was $946,820 for the fiscal year ended August 31, 2025, compared to $1,708,261 for the fiscal year ended August 31, 2024, an improvement of $761,441[356]. - Cash at the end of the period increased to $2,117,371 from $580,356, reflecting improved liquidity[352]. - The Company has incurred recurring operating losses and continues to experience negative cash flows from operations, raising substantial doubt about its ability to continue as a going concern[354]. - Net cash provided by financing activities increased to $3,458,306 in fiscal 2025 from $2,912,627 in fiscal 2024, primarily due to additional borrowings to fund working capital and technology investments[357]. - Net cash used in investing activities decreased to $944,187 in fiscal 2025 from $1,117,390 in the prior year, mainly for the capitalization of internally developed software and enhancements to the Pineapple Plus platform[358]. - The company's cash balance improved to $2,117,371 as of August 31, 2025, compared to $580,356 in the prior year, reflecting a year-over-year increase of approximately $1.54 million[359]. - Total current assets rose to $2,319,595 as of August 31, 2025, up from $893,490 in the previous year, indicating a year-over-year improvement of approximately $1.43 million[363]. Technology and Innovation - The company advanced its technology capabilities through the continued development of its proprietary Pineapple Plus platform, contributing to higher productivity per agent and stronger client engagement[292]. - Subscription revenue remained stable, reflecting continued adoption and usage of the company's Pineapple Plus platform[313]. - The company invested approximately $11.4 million in Injective digital assets, which management believes may generate future economic benefits depending on market performance[362]. Market Conditions - Early fourth-quarter indicators reflected increased application activity and lead generation, positioning the company to benefit from a gradual recovery in mortgage activity heading into fiscal 2026[293]. - The Bank of Canada's monetary policy easing, reducing the policy rate from 5.00% in mid-2024 to 3.25% by August 31, 2025, contributed to improved affordability and renewed consumer confidence[312]. Future Outlook - The company expects existing cash resources to be sufficient to meet operating needs for at least the next 12 months and support strategic growth initiatives[361]. - The company plans to access additional capital through the Injective Digital Asset Treasury Initiative, expecting to realize $2.1 million held in escrow upon the filing of the Company's Form S-1[362]. - The company's liquidity position is supported by disciplined spending and operational efficiencies, ensuring sufficient resources to meet short-term obligations and support near-term growth initiatives[366].

Sales Performance - Total net sales for Q3 fiscal 2025 were $139.6 million, a decrease of 2.7% year-over-year, while comparable net sales increased by 2.0%[3] - Net sales from physical stores were $110.3 million, a decrease of 0.9%, with comparable store net sales increasing by 5.3%[3] - E-commerce net sales were $29.3 million, a decrease of 9.0%, primarily due to a 51.0% decrease in clearance selling[3] - Net sales for the thirteen weeks ended November 1, 2025, were $139,587, a decrease of 2% compared to $143,442 for the same period in 2024[16] - For Q4 fiscal 2025, the company estimates net sales in the range of $146 million to $151 million, with a comparable net sales increase of 4% to 8%[10] Profitability - Gross profit improved to $42.6 million, or 30.5% of net sales, compared to 25.9% of net sales last year, with product margins improving by 390 basis points[3] - Gross profit for the thirty-nine weeks ended November 1, 2025, was $112,974, an increase of 1.5% from $111,430 in the prior year[16] - Operating loss improved to $1.9 million, or 1.4% of net sales, compared to $14.1 million, or 9.8% of net sales, last year[3] - The operating loss for the thirty-nine weeks ended November 1, 2025, was $(21,929), an improvement from $(35,701) in the same period of 2024[16] - Net loss improved to $1.4 million, or $0.05 per share, from $12.9 million, or $0.43 per share, last year[4] - The net loss for the thirty-nine weeks ended November 1, 2025, was $(20,394), compared to $(32,565) for the same period in 2024, reflecting a reduction of 37%[16] Expenses and Liquidity - Selling, general and administrative (SG&A) expenses decreased to $44.5 million, or 31.9% of net sales, down from 35.7% last year[3] - Total available liquidity as of November 1, 2025, was $100.7 million, including $39.0 million in cash and cash equivalents[6] - Cash and cash equivalents at the end of the period were $39,041, an increase from $26,407 at the end of the previous year[18] - Total current assets as of November 1, 2025, were $135,128, up from $130,960 in the prior year[14] - Total liabilities decreased to $235,456 as of November 1, 2025, from $241,592 in the previous year[14] Store Operations - The company plans to end fiscal 2025 with a total store count of 223, a decrease of 7.1% from 240 stores at the end of fiscal 2024[10] - The company opened 2 new stores and closed 4 stores during the third quarter of 2025, resulting in a total store count of 230[20] Share Information - The weighted average basic shares outstanding for the thirty-nine weeks ended November 1, 2025, were 30,089, compared to 30,017 in the prior year[16] Cash Flow - The company reported a cash flow from operating activities of $(4,508) for the thirty-nine weeks ended November 1, 2025, compared to $(38,203) in the same period of 2024[18]

Revenue Guidance and Performance - Salesforce raised its fiscal year 2026 revenue guidance to between $41.45 billion and $41.55 billion, reflecting a year-over-year growth of 9% to 10%[3] - Q4 FY26 guidance includes expected revenue of $11.13 billion to $11.23 billion, with a growth rate of 11% to 12% year-over-year[7] - Total revenues for the three months ended October 31, 2025, were $10,259 million, a 9% increase from $9,444 million in the same period of 2024[21] - Total revenues for Q3 2025 reached $10,259 million, a 8.6% increase from $9,444 million in Q3 2024[32] - Constant currency growth for total revenue was 8% for the three months ended October 31, 2025, compared to the same period in 2024[31] Subscription and Support Revenue - Third quarter subscription and support revenue was $9.7 billion, an increase of 10% year-over-year, and total revenue for the quarter was $10.3 billion, up 9% year-over-year[5] - Subscription and support revenues accounted for 95% of total revenues for both the three and nine months ended October 31, 2025[23] - Subscription and support revenue for the three months ended October 31, 2025, was $9,726 million, compared to $8,879 million in 2024, marking a 9% growth[29] Performance Obligations - Current remaining performance obligation (cRPO) reached $29.4 billion, up 11% year-over-year, while total remaining performance obligation (RPO) climbed to $59.5 billion, up 12% year-over-year[5] - Remaining performance obligation (RPO) as of October 31, 2025, totaled $59.5 billion, compared to $53.1 billion as of October 31, 2024, indicating a 12% year-over-year growth[27] - Unearned revenue at the end of the period was $14,996 million, up from $13,472 million in the same period last year, showing an increase of 11%[28] Profitability and Cash Flow - Operating cash flow for the third quarter was $2.3 billion, reflecting a 17% year-over-year increase, while free cash flow was $2.2 billion, up 22% year-over-year[5] - Net income for the three months ended October 31, 2025, was $2,086 million, compared to $1,527 million for the same period in 2024, reflecting a 37% increase[21] - Basic net income per share for the three months ended October 31, 2025, was $2.20, up from $1.60 in the same period of 2024[21] - Free cash flow for Q3 2025 was $2,177 million, up from $1,779 million in Q3 2024, indicating a 22.4% increase[36] - GAAP net income for the nine months ended October 31, 2025, was $5,514 million, up from $4,489 million in the same period of 2024, a 22.9% increase[35] Shareholder Returns - Salesforce returned $4.2 billion to shareholders in the form of share repurchases and dividends, including $3.8 billion in share repurchases[5] - The company repurchased $3,801 million of common stock during the three months ended October 31, 2025[25] Strategic Developments - Informatica acquisition completed, enhancing Salesforce's data management capabilities and contributing approximately 80 basis points to revenue growth guidance[6] - The company aims to expand internationally and enhance its business strategy despite uncertainties in market competition and geopolitical events[20] Expenses and Liabilities - The company reported a restructuring expense of $260 million for the three months ended October 31, 2025, compared to $56 million in the same period of 2024[21] - Total current assets decreased to $21,063 million as of October 31, 2025, from $29,727 million as of January 31, 2025[24] - Total liabilities decreased to $35,123 million as of October 31, 2025, from $41,755 million as of January 31, 2025[24] Capital Expenditures and Investments - Strategic investments increased to $6,410 million as of October 31, 2025, from $4,852 million as of January 31, 2025[24] - Capital expenditures for the nine months ended October 31, 2025, totaled $453 million, compared to $504 million in the same period of 2024[36] Operating Margins - Full year FY26 GAAP operating margin guidance is set at 20.3%, while non-GAAP operating margin guidance remains at 34.1%[8] - GAAP operating margin for Q3 2025 was 21.3%, an increase from 20.0% in Q3 2024[32] - Non-GAAP operating margin for Q3 2025 was 35.5%, compared to 33.1% in Q3 2024, showing an improvement of 2.4 percentage points[32] Tax and Other Financial Metrics - The projected non-GAAP tax rate for fiscal 2025 and 2026 is set at 22.0%[41] - The Company presents constant currency revenue growth rates to assess underlying business performance excluding foreign currency fluctuations[42] - Free cash flow is defined as GAAP net cash provided by operating activities minus capital expenditures[43] - Annual recurring revenue (ARR) for Agentforce and Data 360 includes the annualized recurring value of active subscription agreements at the end of the reporting period[43]

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) For the quarterly period ended November 1, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40357 MARVELL TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 85-3971597 (State or other jur ...

HSA Accounts and Market Position - As of October 31, 2025, the company administered 10.1 million HSAs with total balances of $34.4 billion, alongside 7.2 million complementary consumer-directed benefits (CDBs), resulting in a total of 17.3 million accounts[83]. - The company increased its market share in the HSA sector from 4% in December 2010 to 20% as of June 2025, becoming the largest HSA provider by number of accounts and the second largest by HSA assets[85]. - In fiscal 2025, the company acquired the BenefitWallet HSA portfolio, adding approximately 616,000 HSAs and $2.7 billion in HSA assets for a purchase price of $425 million[88]. - Total Accounts increased by 5% from 16,463 thousand on October 31, 2024 to 17,280 thousand on October 31, 2025, driven by a 6% increase in HSAs[107]. Financial Performance - Adjusted EBITDA for the three months ended October 31, 2025 was $141.812 million, a 20% increase from $118.245 million in the same period of 2024[115]. - Net income for the three months ended October 31, 2025 was $51.692 million, an increase of 806% from $5.703 million in the same period of 2024[115]. - Non-GAAP net income increased by $18.3 million, or 26%, from Q3 2024 to Q3 2025, driven by total revenue growth and cost efficiencies[120]. - Non-GAAP net income for the nine months ended October 31, 2025, rose by $52.1 million, or 24%, compared to the same period in 2024, primarily due to increased total revenue and operational efficiencies[121]. - Total revenue for Q3 2025 was $322.2 million, a 7% increase from $300.4 million in Q3 2024, while total revenue for the nine months ended October 31, 2025, reached $978.8 million, up 10% from $888.0 million in the prior year[140]. Revenue Sources - The company earns revenue primarily from service, custodial, and interchange sources, with custodial revenue being significantly influenced by the interest rate environment[87]. - Custodial revenue increased by $18.1 million, or 13%, in Q3 2025, attributed to a rise in average annualized yield on HSA cash from 3.17% to 3.53%[142]. - Interchange revenue rose by $2.5 million, or 6%, in Q3 2025, primarily due to an increase in Total Accounts[144]. - Service revenue for Q3 2025 was $120.3 million, a slight increase of 1% from $119.2 million in Q3 2024, driven by growth in Total Accounts and HSA investments[140]. Cost Management - Total cost of revenue decreased to 30.0% of total revenue for the nine months ended October 31, 2025, down from 33.8% for the same period in 2024, as total revenue grew at a significantly higher rate than total cost of revenue[156]. - Service costs decreased by $10.0 million, or 11%, for the three months ended October 31, 2025, primarily due to efficiencies from technology investments[147]. - General and administrative expenses decreased by $15.9 million, or 16%, for the nine months ended October 31, 2025, primarily due to a reduction in stock-based compensation expenses[165]. Cash Flow and Investments - Net cash provided by operating activities increased by $75.1 million from $264.1 million for the nine months ended October 31, 2024, to $339.2 million for the same period in 2025, primarily due to increased cash receipts from custodial, interchange, and service revenues[189]. - Net cash used in investing activities decreased by $453.2 million from $491.9 million for the nine months ended October 31, 2024, to $38.7 million for the same period in 2025, largely due to a significant reduction in cash used to acquire HSA portfolios[190]. - Capital expenditures for the nine months ended October 31, 2025, were $38.4 million, slightly down from $39.7 million in the same period of 2024[186]. Regulatory and Market Trends - Regulatory changes, including the "One Big Beautiful Bill Act," have expanded HSA eligibility, potentially increasing market opportunities for the company[91]. - The average family premium for employer-sponsored health insurance has risen by 24% since 2019, driving increased participation in HSA-qualified health plans[91]. Technology and Development - The company is investing in the modernization of its proprietary technology platforms to enhance security, privacy, and transaction processing capabilities[101]. - Technology and development expenses increased by $5.7 million, or 10%, for the three months ended October 31, 2025, mainly due to higher software costs and personnel-related expenses[162]. Tax and Interest Expenses - The increase in income tax provision from $35.3 million for the nine months ended October 31, 2024, to the same period in 2025 was mainly due to higher pre-tax book income and a decrease in research and development tax credits[179]. - Interest expense decreased by $4.1 million, or 23%, for the three months ended October 31, 2025, due to lower average interest rates and principal balances[173].

Financial Performance - Revenue for the third quarter increased by 7% to $322.2 million, compared to $300.4 million in the same quarter last year[3] - Net income for the third quarter was $51.7 million, or $0.59 per diluted share, up from $5.7 million, or $0.06 per diluted share, a year ago[4] - Non-GAAP net income per diluted share rose by 29% to $1.01, compared to $0.78 in the prior year[4] - Adjusted EBITDA for the third quarter was $141.8 million, reflecting a 20% increase year over year, and represented 44% of revenue[5] - The company reported a gross profit of $228,063 thousand for the three months ended October 31, 2025, compared to $197,026 thousand in the same period of 2024, indicating a 16% increase[21] - Adjusted EBITDA for the three months ended October 31, 2025, was $141,812,000, representing a 20% increase from $118,245,000 in the same period of 2024[34] - The company's net income as a percentage of revenue increased to 16% for the three months ended October 31, 2025, compared to 2% in the same period of 2024[33] - The outlook for Adjusted EBITDA for the year ending January 31, 2026, is projected to be between $555 million and $565 million[35] - The company expects net income for the year ending January 31, 2026, to be between $197 million and $205 million[37] HSA Growth - Total HSA Assets grew by 15% to $34.4 billion, including $16.9 billion in HSA cash and $17.5 billion in HSA investments[7] - The number of HSAs increased by 6% year over year to 10.1 million, with 802,000 HSAs having investments, a 12% increase[6] - The number of Health Savings Accounts (HSAs) increased to 10,108 thousand as of October 31, 2025, a 6% increase from 9,508 thousand in 2024[28] - Total HSA assets reached $34,446 million as of October 31, 2025, reflecting a 15% increase from $29,987 million in 2024[29] - HSA investments increased by 29% to $17,536 million as of October 31, 2025, compared to $13,601 million in 2024[29] Shareholder Actions - The company repurchased 1.0 million shares for $93.7 million during the third quarter, with $258.8 million remaining authorized for repurchase[8] Cash Flow and Expenses - Cash flows from operating activities for the nine months ended October 31, 2025, were $339,179 thousand, up from $264,108 thousand in 2024[24] - The company incurred total operating expenses of $149,368 thousand for the three months ended October 31, 2025, down from $177,401 thousand in the same period of 2024, a decrease of 16%[21] - Stock-based compensation expense for the three months ended October 31, 2025, was $20,542,000, slightly down from $21,123,000 in the same period of 2024[36] Market and Technology - HealthEquity's marketplace platform is expanding access to affordable healthcare solutions, leveraging AI for personalized experiences[2] Other Financial Metrics - Average daily client-held funds for the year-to-date as of October 31, 2025, were $859 million, a 4% increase from $823 million in 2024[31] - The average annualized yield on HSA cash expected to reprice in 2026 is 1.5%[30] - Non-GAAP net income for the three months ended October 31, 2025, was $87,666,000, up from $69,387,000 in the same period of 2024[36] - The diluted weighted-average shares for the three months ended October 31, 2025, were 86,970,000[36] - The company reported a total adjustment to income before income taxes - GAAP of $49,357,000 for the three months ended October 31, 2025[36]

Financial Performance - Q3 total revenue reached $219.1 million, representing a 9% increase year-over-year from $200.7 million[6] - Q3 subscription revenue was $190.3 million, up 5% year-over-year from $180.6 million[7] - GAAP operating income for Q3 was $11.6 million, compared to $7.9 million in the same quarter last year, while non-GAAP operating income increased to $33.5 million from $23.0 million[7] - Q3 GAAP net income per share was $0.01, down from $0.04 year-over-year, while non-GAAP net income per share rose to $0.12 from $0.10[7] - Total revenue for the three months ended October 31, 2025, was $219.068 million, a 9.3% increase from $200.689 million in the same period of 2024[22] - Subscription revenue increased to $190.295 million for the three months ended October 31, 2025, compared to $180.634 million in 2024, reflecting a growth of 5.9%[22] - Operating income for the three months ended October 31, 2025, was $11.551 million, compared to $7.889 million in the same period of 2024, marking a 46.5% increase[22] - Net income for the three months ended October 31, 2025, was $2.904 million, down from $10.455 million in 2024, indicating a decline of 72.2%[22] Cash Flow and Financial Position - As of October 31, 2025, total cash, cash equivalents, and marketable securities amounted to $480.3 million[7] - Cash flow from operating activities for the nine months ended October 31, 2025, was $138.528 million, significantly higher than $72.225 million in 2024[24] - Free cash flow for the nine months ended October 31, 2025, reached $125.973 million, compared to $57.616 million in 2024, representing a 118.5% increase[26] Expenses and Costs - Research and development expenses for the three months ended October 31, 2025, were $24.707 million, up from $23.298 million in 2024, reflecting a growth of 6.0%[22] - Total operating expenses for the three months ended October 31, 2025, were $133.935 million, slightly down from $134.951 million in 2024[22] - Stock-based compensation expense for the three months ended October 31, 2025, was $20.575 million, up 33.8% from $15.376 million in 2024[27] - Restructuring costs for the nine months ended October 31, 2025, were $15.859 million, compared to $2.965 million in 2024[27] - The company reported a non-recurring litigation cost of $1.817 million for the nine months ended October 31, 2025[27] Customer Metrics - The company reported 145 customers contributing $1 million or more in revenue[6] Future Guidance - For Q4 FY2026, Sprinklr expects total revenue between $216.5 million and $217.5 million, and subscription revenue between $191 million and $192 million[6] - The company anticipates non-GAAP net income per share for Q4 to be between $0.09 and $0.10, assuming 254 million diluted weighted-average shares outstanding[6] Performance Obligations - Remaining performance obligations (RPO) decreased by 5% year-over-year, while current RPO (cRPO) increased by 3%[6] Non-GAAP Metrics - Non-GAAP operating margin for Q3 was 15%, up from 11% in the same quarter last year[7] - The company reported a non-GAAP operating income of $33.515 million for the three months ended October 31, 2025, compared to $23.000 million in 2024, an increase of 45.5%[26] - Non-GAAP net income for the three months ended October 31, 2025, was $29.066 million, representing an increase of 13.3% from $25.566 million in 2024[27] - Non-GAAP net income for the nine months ended October 31, 2025, was $95.211 million, an increase of 30.5% compared to $72.869 million in 2024[27] Share Metrics - Weighted-average shares outstanding for the three months ended October 31, 2025, were 244,916, a decrease from 252,054 in 2024[27] - Total additions for the nine months ended October 31, 2025, amounted to $81.260 million, an increase of 62.5% from $49.939 million in 2024[27] Tax Rate - The company utilized a non-GAAP tax rate of 26% for the three and nine months ended October 31, 2025[27]

Financial Performance - Macy's, Inc. reported net sales of $4.7 billion, a decrease of 0.6% compared to the third quarter of 2024, with comparable sales up 2.5% on an owned basis and up 3.2% on an O+L+M basis[4] - Adjusted diluted EPS was $0.09, exceeding the company's prior guidance range, driven by better-than-expected net sales and gross margin[4] - Bloomingdale's achieved comparable sales growth of 8.8% on an owned basis and 9.0% on an O+L+M basis, marking the highest growth in 13 quarters[4] - Total revenue for the 39 weeks ended November 1, 2025, was $14,705 million, down from $14,999 million in the prior year[28] - Net income for the 39 weeks ended November 1, 2025, was $135 million, compared to $240 million for the same period in 2024, reflecting a decrease of 43.8%[28] - Basic earnings per share for the 39 weeks ended November 1, 2025, were $0.50, down from $0.86 in the previous year[28] - The company's Adjusted EBITDA for the 39 weeks ended November 1, 2025, was $1,002 million, compared to $1,074 million for the same period in 2024, reflecting a decrease of 6.7%[51] - For the 13 weeks ended November 1, 2025, Macy's, Inc. reported a 2.5% increase in comparable sales on an owned basis and a 3.2% increase on an owned-plus-licensed-plus-marketplace basis[46] Guidance and Expectations - The company revised its annual guidance, expecting net sales between $21.475 billion and $21.625 billion, up from the previous range of $21.15 billion to $21.45 billion[15] - Comparable owned-plus-licensed-plus-marketplace sales are expected to be flat to up approximately 0.5% versus 2024, an improvement from the previous guidance of down approximately 1.5% to down approximately 0.5%[16] Expenses and Margins - The gross margin rate was 39.4%, a decline of 20 basis points, primarily due to a 50 basis point tariff impact[5] - Selling, general and administrative expenses decreased by $40 million to $2.0 billion, reflecting cost containment efforts[6] - Gross margin for the 39 weeks ended November 1, 2025, was $5,575 million, representing 39.5% of total revenue, compared to $5,776 million or 39.8% in 2024[28] Cash and Debt Management - The company ended the quarter with cash and cash equivalents of $447 million and total debt of $2.4 billion, with no material long-term debt maturities until 2030[10] - Cash and cash equivalents at the end of the period were $447 million, a decrease from $1,306 million at the beginning of the period[30] - The company reported a net cash provided by operating activities of $247 million for the 39 weeks ended November 1, 2025, compared to a net cash used of $30 million in the prior year[33] - The company incurred interest expense of $77 million for the 39 weeks ended November 1, 2025, down from $94 million in the previous year[28] - The company reported a loss on extinguishment of debt of $33 million for the 39 weeks ended November 1, 2025, compared to a loss of $1 million in the prior year[28] Inventory and Other Costs - Merchandise inventories increased to $6,298 million as of November 1, 2025, from $4,468 million in February 2025[30] - For the 13 weeks ended November 1, 2025, the company reported an impairment, restructuring, and other costs of $4 million, compared to a benefit of $23 million for the same period in 2024[51] Shareholder Returns - The company returned approximately $99 million to shareholders, including $49 million in cash dividends and $50 million in share repurchases[4] Tax and Other Financial Metrics - The effective income tax expense for the 39 weeks ended November 1, 2025, was $52 million, or 26.6% of pretax income, compared to $87 million, or 20.0% of pretax income for the same period in 2024[3] - Restricted cash was reported at $2 million as of November 1, 2025, compared to $3 million as of November 2, 2024[5] - The company does not provide reconciliations for forward-looking non-GAAP measures due to the difficulty in estimating excluded items[41]