Semtech(SMTC) - 2026 Q3 - Quarterly Report
2025-11-25 21:05
Financial Position - As of October 26, 2025, foreign subsidiaries held $123.3 million in cash and cash equivalents, down from $139.1 million at January 26, 2025[214]. - As of October 26, 2025, the company had no amounts outstanding under the Term Loans and $451.6 million available undrawn borrowing capacity[220]. - As of October 26, 2025, the company was in compliance with the financial covenants in its Credit Agreement[222]. - The remaining authorization under the stock repurchase program was $209.4 million, with no shares repurchased in the first nine months of fiscal years 2026 and 2025[238]. Debt and Financing - The company has a total available borrowing capacity of $455.0 million under the Revolving Credit Facility, which matures on January 12, 2028[218][219]. - The company issued $300.0 million and $19.5 million in aggregate principal amount of Convertible Senior Notes due 2027, bearing interest at 1.625% per year[225]. - The company recognized an induced conversion expense of $17.6 million related to the exchange of approximately $219.0 million aggregate principal amount of the 2027 Notes[227]. - On October 26, 2023, the company issued $250.0 million in aggregate principal amount of Convertible Senior Notes due 2028, bearing interest at 4.00% per year[229]. - The company exchanged approximately $188.1 million in aggregate principal amount of 2028 Notes for 10,378,431 shares of common stock[230]. - The company terminated the Convertible Note Hedges and the Warrants corresponding to the number of 2027 Notes exchanged, receiving approximately $24.5 million[228]. - The Company issued $402.5 million in aggregate principal amount of Convertible Senior Notes due 2030, which do not bear any interest and will mature on October 15, 2030[234]. Cash Flow and Expenditures - Net cash provided by operating activities increased to $119.7 million for the first nine months of fiscal year 2026, compared to $24.5 million for the same period in fiscal year 2025, reflecting a 17.8% increase in net sales[241][243]. - Capital expenditures for the first nine months of fiscal year 2026 were $7.4 million, an increase from $5.2 million in the same period of fiscal year 2025[244]. - The Company made prepayments of $181.2 million on Term Loans in the first nine months of fiscal year 2026, with no such prepayments made in the same period of fiscal year 2025[249]. - Net cash used in financing activities was $(94.1) million for the first nine months of fiscal year 2026, compared to $(12.1) million for the same period in fiscal year 2025[241]. - The Company sold investments for proceeds of $1.9 million in the first nine months of fiscal year 2026, down from $2.7 million in the same period of fiscal year 2025[245]. - The Company paid $10.6 million for deferred financing costs in the first nine months of fiscal year 2026, compared to $0.8 million in the same period of fiscal year 2025[250]. - The Company expects future non-operating uses of cash to be for capital expenditures and debt repayment, funded through cash flows from operating activities[216]. - The Company plans to finance capital expenditures and R&D investments through cash generated from operating activities and existing cash balances[235]. Impairment Charges - The Company recorded $42.0 million in pre-tax non-cash goodwill impairment charges for the IoT Connectivity Services reporting unit during the first nine months of fiscal year 2026[253].
NetApp(NTAP) - 2026 Q2 - Quarterly Results
2025-11-25 21:05
Exhibit 99.1 NetApp Reports Second Quarter of Fiscal Year 2026 Results Net revenues of $1.71 billion for the second quarter, an increase of 3% year-over-year; Second quarter GAAP net income per share 1 of $1.51 and record non-GAAP net income per share 1 of $2.05 News Summary (In millions, except earnings per share and percentages) GAAP Results | | | Q2'FY26 | | Q2'FY25 | % | Change | | --- | --- | --- | --- | --- | --- | --- | | Net revenues | $ | 1,705 | $ | 1,658 | | 3% | | Hybrid Cloud segment revenue | ...
CleanSpark(CLSK) - 2025 Q4 - Annual Results
2025-11-25 21:05
43% growth in contracted power sets the stage for AI expansion EXHIBIT 99.1 CleanSpark Reports Transformative FY 2025 Results $766.3 million revenue, 102% year over year increase Recent $1.15 billion 0% transaction provides capital for accretive infrastructure opportunities LAS VEGAS, November 25, 2025 -- CleanSpark, Inc. (Nasdaq: CLSK) (the "Company"), America's Bitcoin Miner®, today reported financial results for the fiscal year ended September 30, 2025. "Fiscal 2025 was the year CleanSpark achieved opera ...
Fluence Energy(FLNC) - 2025 Q4 - Annual Report
2025-11-25 21:04
Energy Storage Market Overview - As of September 30, 2025, Fluence had 6.8 GW of energy storage assets deployed and 9.1 GW of contracted backlog across 33 markets in 25 countries, with a gross global pipeline of 128.8 GW[23]. - The global utility-scale energy storage market is projected to add approximately 3,201 GWh between 2024 and 2035, excluding China[25]. - The energy storage market is driven by factors such as the global transition to renewable energy, declining lithium-ion battery prices, and increased electricity demand, particularly from data centers and AI[24][28]. - Fluence's energy storage solutions are designed for various applications, including frequency regulation, renewable integration, and capacity peak power[26][33]. - The company has a contracted backlog of 12.1 GW related to renewable and energy storage assets using Fluence digital offerings[23]. Company Operations and Strategy - Fluence's growth strategy focuses on leveraging global scale and product development to transform energy solutions, targeting new customers including independent power producers and utilities[37][38]. - The company aims to expand its services with additional value-add offerings and standardized products optimized for different sales channels[39]. - The company initiated domestic production of Fluence-designed Battery Packs in September 2024, incorporating battery cells manufactured in Tennessee, which may allow capturing certain incentives under the IRA[31]. - The company has established a contract manufacturing relationship in Salt Lake City, Utah, and added a second contract manufacturer in Arizona to support expanded operations[52]. - The company aims to localize critical supply chains and reduce carbon intensity, aligning procurement strategies with federal initiatives under the IRA and OBBBA[57]. Financial Performance and Customer Base - In fiscal year 2025, the company's two largest customers accounted for approximately 41% of total revenues, with 24% of revenue coming from related parties, primarily AES and its affiliates[40]. - As of September 30, 2025, the company had a backlog of $5.3 billion in remaining performance obligations, with 13% of this backlog related to AES[40]. - The gross global pipeline reached 128.8 GW, including 65.1 GW for energy storage solutions, with the largest portion (25%) from U.S. customers at 16.1 GW[40]. - The company has experienced fluctuations in order intake and operating metrics, with variability driven by customer negotiations and trade policy uncertainty[114]. - For the fiscal year ended September 30, 2025, the two largest customers accounted for approximately 41% of the annual revenue, with AES and its affiliates contributing about 24%[119]. Regulatory Environment and Government Incentives - The U.S. policies, including the IRA and OBBBA, are expected to enhance the company's competitive position in the U.S. market by providing financial support and incentives for energy storage solutions[69]. - The IRA includes a new "technology neutral" investment tax credit (ITC) and production tax credit (PTC) that support energy storage projects, with certain tax credits beginning to phase down for projects starting construction in 2033[76]. - The OBBBA, signed into law on July 4, 2025, modifies provisions of the IRA, ensuring long-term availability of the ITC for energy storage projects and establishing stricter domestic content requirements[76]. - The evolving regulatory landscape, including potential changes in government incentives and tariffs, poses risks and opportunities that may impact the company's future operations and financial condition[71]. - The company’s business and customer demand for energy storage solutions are significantly influenced by government incentives and regulations related to renewable energy, which can impact competitiveness and growth[100]. Competitive Landscape - The energy storage sector is highly competitive, with significant pressure from established players and new entrants, particularly those benefiting from vertically integrated supply chains in China[68]. - The company differentiates itself from competitors like Tesla and CATL by offering customized products and services, emphasizing low total cost of ownership and long-term reliability[69]. - Competition in the energy storage market is intensifying, with competitors having greater resources, which may hinder the company's ability to attract and retain customers[121]. - The company has entered into an agreement with AES Grid Stability that may impact future sales if AES decides to explore different energy storage suppliers[120]. Supply Chain and Manufacturing Challenges - The company relies on a limited number of third-party contract manufacturers, with three key manufacturers currently in use, which poses risks of delays and disruptions in manufacturing operations[134]. - The contract manufacturer in Arizona faced delays and inefficiencies in scaling production due to labor availability and long training lead times[136]. - Supplier concentration poses risks to the company's ability to deliver energy storage solutions, as reliance on a limited number of suppliers may lead to inventory shortages and increased costs[142]. - The company faces challenges related to international supply chain risks and logistics disruptions, particularly due to U.S. tariff and trade policy uncertainties impacting contracting activities[147]. - Manufacturing delays or disruptions could impact the company's ability to meet customer requirements and affect its financial condition[134]. Risks and Uncertainties - The company is subject to ongoing investigations regarding tariffs on imports, including a preliminary countervailing tariff of 11.58% on Chinese graphite active anode material[81]. - The company faces potential negative impacts on reputation and market competitiveness if it cannot provide energy storage solutions that qualify for the ITC on the anticipated timeline[104]. - The company is exposed to risks from environmental and social compliance issues within its supply chain, particularly concerning suppliers operating in regions with strict labor laws[150]. - The complexity of energy storage solutions may lead to undetected defects, affecting market adoption and customer relationships[157]. - The company has experienced legal claims related to product liability, which could impact financial results and reputation[162]. Future Outlook and Growth Potential - The company anticipates rising demand for clean electric power solutions and energy storage products, driven by regulatory incentives and market trends[187]. - Future growth is dependent on the adoption of digital software applications and regulatory regimes that promote clean energy[187]. - The company expects operating expenses to continue increasing over the next several years due to hiring additional personnel and expanding operations[191]. - The company may need to raise additional capital to support operations and growth, which could lead to dilution for existing shareholders[200]. - The growth and profitability of the company depend on the continued decline in battery energy storage costs, which have seen fluctuations in recent years[204].
Workday(WDAY) - 2026 Q3 - Quarterly Results
2025-11-25 21:03
Exhibit 99.1 Workday Announces Fiscal 2026 Third Quarter Financial Results Fiscal Third Quarter Total Revenues of $2.432 Billion, Up 12.6% Year-Over-Year Subscription Revenues of $2.244 Billion, Up 14.6% Year-Over-Year PLEASANTON, Calif., November 25, 2025 – Workday, Inc. (NASDAQ: WDAY), the enterprise AI platform for managing people, money, and agents, today announced results for the fiscal 2026 third quarter ended October 31, 2025. Fiscal 2026 Third Quarter Results Comments on the News "Workday delivered ...
Autodesk(ADSK) - 2026 Q3 - Quarterly Results
2025-11-25 21:03
Financial Performance - Third quarter revenue increased by 18% year-over-year to $1.85 billion, with billings reaching $1.855 billion, a 21% increase[1][3] - Total net revenue for the three months ended October 31, 2025, was $1,853 million, a 18% increase from $1,570 million in the same period of 2024[38] - Subscription revenue reached $1,734 million, up 19% from $1,457 million year-over-year[38] - Net income for the nine months ended October 31, 2025, was $808 million, compared to $809 million for the same period in 2024[40] - Operating cash flow for the nine months ended October 31, 2025, was $1,463 million, significantly higher than $915 million in the prior year[40] - The company reported a gross profit of $1,688 million for the three months ended October 31, 2025, representing a gross margin of approximately 91%[38] Guidance and Projections - Autodesk raised its full-year guidance, projecting total revenue between $7.150 billion and $7.165 billion for fiscal 2026[10] - Fourth quarter revenue guidance is set between $1.901 billion and $1.917 billion, with GAAP EPS expected to be between $1.40 and $1.57[10] - For Q4 FY26, the GAAP EPS is projected to be between $1.40 and $1.57, with a non-GAAP EPS forecasted between $2.59 and $2.67[46] - The GAAP operating margin for FY26 is expected to be 23%, while the non-GAAP operating margin is projected at 37.5%[46] - For FY26, the GAAP EPS is estimated to be between $5.16 and $5.33, with a non-GAAP EPS forecasted between $10.18 and $10.25[47] Cash Flow and Assets - Free cash flow for the third quarter was $430 million, representing a 116% increase year-over-year[3] - The company had cash and cash equivalents of $1,989 million at the end of the period, up from $1,599 million at the beginning of the year[39] - Total current assets increased to $3,895 million as of October 31, 2025, compared to $3,482 million at the beginning of the year[39] - Total assets grew to $11,198 million from $10,833 million since January 31, 2025[39] - Net cash provided by operating activities was $439 million, resulting in free cash flow of $430 million[44] Revenue Breakdown - Revenue from the AECO product family grew by 23% year-over-year, totaling $921 million[7] - The Americas region generated $820 million in revenue, a 16% increase, while EMEA saw a 23% increase to $715 million[5] - Remaining performance obligations (RPO) increased by 20% year-over-year to $7.361 billion, with current RPO at $4.830 billion[7] - Unbilled deferred revenue rose by 43% year-over-year, totaling $3.515 billion[7] - Deferred revenue stood at $3,577 million as of October 31, 2025, down from $3,787 million at the beginning of the year[39] Operating Margins - GAAP operating margin improved to 25%, up 3 percentage points year-over-year, while non-GAAP operating margin was 38%, up 1 percentage point[3] - Autodesk's GAAP operating margin for the three months ended October 31, 2025, was 25%, while the non-GAAP operating margin was 38%[44] Research and Development - Research and development expenses for the three months ended October 31, 2025, were $416 million, an increase from $378 million in the same period of 2024[38] Non-GAAP Measures - The company emphasizes the importance of reviewing the reconciliation of non-GAAP financial measures to GAAP measures in its public disclosures[42] - Autodesk's financial results include inherent limitations due to the exclusion of certain items in non-GAAP measures, which may impact reported financial results[42]
Analog Devices(ADI) - 2025 Q4 - Annual Report
2025-11-25 21:02
Financial Performance - For the fiscal year ending November 1, 2025, the company reported sales to distributors of $6.1 billion, net of expected price protection credits and rights of return, with a liability balance of $785 million primarily related to price protection credits [238]. Interest Rate Sensitivity - The company’s annual interest expense would change by approximately $14.5 million and $15.5 million for each 100-basis point increase in interest rates for the years ending November 1, 2025 and November 2, 2024, respectively [224]. - A hypothetical 100-basis point increase in interest rates would increase the swap payable by approximately $45.9 million [227]. - The company’s cash and marketable securities outstanding as of November 1, 2025 would yield an annual interest income change of approximately $36.5 million for each 100-basis point increase in interest rates [225]. Foreign Currency Exposure - An immediate 10% unfavorable movement in foreign currency exchange rates would result in approximately $89.6 million of losses as of November 1, 2025 [229]. - The fair value of forward exchange contracts as of November 1, 2025 was $(1,267) thousand, with a potential liability of $(45,730) thousand after a 10% unfavorable movement in foreign currency exchange rates [231]. - The company’s largest foreign currency exposure is the Euro, due to the high proportion of local currency denominated expenses in its European operations [229]. Debt and Financial Instruments - The company had $8.2 billion in principal amount of senior unsecured notes outstanding as of November 1, 2025, with a fair value of $7.5 billion [228]. - The company had $1.0 billion notional of fixed for floating interest rate swaps outstanding as of November 1, 2025, with a fair value of $12.6 million [227]. Risk and Uncertainty - The company’s actual results may differ materially from forward-looking statements due to various risks and uncertainties [13]. Audit and Assumptions - The audit procedures included inspecting contractual terms in distributor agreements and testing the underlying data for completeness and accuracy [241]. - The company evaluated significant assumptions used in estimating price protection credits by comparing them to historical trends [241]. - The retrospective review analysis of actual price protection credits claimed by distributors was inspected and tested [241]. - Sensitivity analyses were performed on the company's significant assumptions to assess the impact on price protection credits [241]. - The company considered new information that could significantly change the estimated future price protection credits [241].
Zoom(ZM) - 2026 Q3 - Quarterly Report
2025-11-25 21:02
Revenue and Income - Revenue for the three months ended October 31, 2025, was $1,229.8 million, representing a 4.4% increase from $1,177.5 million in the same period of 2024[92]. - Net income for the three months ended October 31, 2025, was $612.9 million, compared to $207.1 million for the same period in 2024[92]. - Revenue for the nine months ended October 31, 2025, increased by $140.5 million, or 4.0%, to $3,621.8 million compared to $3,481.3 million in 2024, driven by a 6.3% growth in revenue from Enterprise customers[134]. Customer Segmentation - Revenue from Enterprise customers accounted for 60.3% of total revenue for the three months ended October 31, 2025, up from 59.4% in 2024[99]. - Revenue from Online customers represented 39.7% of total revenue for the three months ended October 31, 2025, down from 40.6% in 2024[100]. - The net dollar expansion rate for Enterprise customers was 98% as of October 31, 2025, consistent with the previous year[99]. - Customers contributing more than $100,000 of trailing 12 months revenue increased to 4,363 as of October 31, 2025, from 3,995 in 2024[111]. Profitability and Expenses - Gross profit for the three months ended October 31, 2025, was $958,065, a 7.2% increase from $893,660 in 2024, with a gross margin of 77.9% compared to 75.9% in 2024[126]. - Research and development expenses decreased by 5.8% to $210,097 for the three months ended October 31, 2025, primarily due to a reduction in stock-based compensation[127]. - Sales and marketing expenses decreased by 5.2% to $342,814 for the three months ended October 31, 2025, mainly due to lower stock-based compensation[129]. - General and administrative expenses decreased significantly by 24.9% to $94,740 for the three months ended October 31, 2025, largely due to prior-year accruals related to an SEC investigation[130]. - Gross profit for the nine months ended October 31, 2025, was $2,798.4 million, reflecting a 6.0% increase from $2,639.0 million in 2024, with a gross margin improvement to 77.3% from 75.8%[135][136]. - Research and development expenses decreased by $13.3 million, or 2.1%, to $621.9 million for the nine months ended October 31, 2025, primarily due to a reduction in stock-based compensation[137]. - Sales and marketing expenses decreased by $39.7 million, or 3.7%, to $1,028.8 million for the nine months ended October 31, 2025, mainly driven by a decrease in stock-based compensation[138][139]. - General and administrative expenses decreased significantly by $73.1 million, or 21.1%, to $273.9 million for the nine months ended October 31, 2025, due to a reversal of prior year accruals and reduced stock-based compensation[140]. Tax and Other Income - Provision for income taxes increased by 147.9% to $181,836 for the three months ended October 31, 2025, due to an increase in income before taxes[133]. - Provision for income taxes increased by $109.7 million, or 49.2%, to $332.6 million for the nine months ended October 31, 2025, primarily due to an increase in income before taxes[143]. - Gains on strategic investments for the three months ended October 31, 2025, were $406,060, a substantial increase from $6,324 in 2024[131]. - Other income, net, decreased by 14.3% to $78,235 for the three months ended October 31, 2025, primarily due to lower interest income from cash and marketable securities[132]. Cash Flow and Investments - Free Cash Flow (FCF) for the nine months ended October 31, 2025, was $1,585,642, an increase of 13.9% from $1,392,516 in 2024[114]. - Net cash provided by operating activities was $1,634.5 million for the nine months ended October 31, 2025, compared to $1,520.7 million in 2024, reflecting higher net income[150]. - Net cash used in investing activities was $330.2 million for the nine months ended October 31, 2025, primarily for marketable securities and property purchases[151]. - The company repurchased 16,624,306 shares of Class A common stock for an aggregate amount of $1,295.8 million during the nine months ended October 31, 2025[157]. Strategic Initiatives - The company continues to invest in AI capabilities, focusing on enhancing productivity and collaboration tools[89]. - New product innovations include AI Companion 3.0, expected to be available in December 2025, which will enhance task management and productivity features[105]. Risk Management - The company has not been exposed to material risks due to changes in interest rates due to the short-term nature of its investments[162]. - A hypothetical 10% change in interest rates would not have had a material impact on the historical condensed consolidated financial statements for the three and nine months ended October 31, 2025 and 2024[162].
BABA(BABA) - 2026 Q2 - Quarterly Report

2025-11-25 21:02
Exhibit 99.1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 1 "We have entered into an investment phase to build long-term strategic value in AI technologies ...
Nutanix(NTNX) - 2026 Q1 - Quarterly Results
2025-11-25 21:01
Financial Performance - Nutanix reported an 18% year-over-year growth in Annual Recurring Revenue (ARR), reaching $2.28 billion in Q1 FY'26 compared to $1.94 billion in Q1 FY'25[3] - Total revenue for Q1 FY'26 was $670.6 million, reflecting a 13% increase from $591.0 million in Q1 FY'25[3] - Free cash flow for the quarter was $174.5 million, up from $151.9 million in the same quarter last year, marking a $22.6 million increase[3] - GAAP operating income increased to $49.3 million in Q1 FY'26, compared to $27.3 million in Q1 FY'25, representing a $22.0 million improvement[3] - Non-GAAP operating margin for Q1 FY'26 was 19.7%, slightly down from 20.0% in Q1 FY'25[3] - Nutanix expects full-year revenue guidance to be between $2.82 billion and $2.86 billion, with a non-GAAP operating margin forecast of 21% to 22%[5] - Net income for Q1 2025 was $62,096 thousand, compared to $29,926 thousand in Q1 2024, reflecting a significant increase of approximately 107.5%[20] - Total operating expenses increased from $481,036 thousand in Q1 2024 to $533,771 thousand in Q1 2025, a rise of approximately 10.9%[20] - Cash provided by operating activities was $161,751 thousand in Q1 2024, compared to $196,825 thousand in Q1 2025, indicating an increase of about 21.6%[21] - Gross profit for the three months ended October 31, 2025, was $583,106, with a gross margin of 87.0%[34] - Total operating expenses decreased to $533,771, resulting in an income from operations of $49,335, with an operating margin of 7.4%[34] - Net income for the period was $62,096, translating to a net income per share of $0.23 (basic) and $0.21 (diluted)[34] - Operating income increased significantly to $131,849, with an operating margin of 19.7% for the adjusted figures[34] - The gross margin improved to 88.0% when considering non-GAAP adjustments, indicating a strong operational performance[34] Cash Flow and Assets - Nutanix's net cash provided by operating activities was $196.8 million, an increase of $35.0 million from $161.8 million in the previous year[3] - Total cash, cash equivalents, and restricted cash at the end of Q1 2025 was $780,436 thousand, up from $716,994 thousand at the end of Q1 2024, an increase of about 8.8%[21] - The company reported a free cash flow of $151,920 for the three months ended October 31, 2024, compared to $174,506 for the same period in 2025[38] Expenses - Research and development expenses were $187,482, reflecting a decrease of $39,501 compared to the previous period[34] - Sales and marketing expenses totaled $285,233, down by $17,760 from the prior period[34] Partnerships and Recognition - The company announced expansions in partnerships with Dell and Microsoft to enhance its cloud platform capabilities[2] - Nutanix was recognized as a Leader in the 2025 Gartner Magic Quadrant for Distributed Hybrid Infrastructure[4] Contract and Obligations - Nutanix's average contract duration remained stable at 3.1 years[3] - Remaining performance obligations increased from $2,118,298 thousand in Q1 2024 to $2,670,515 thousand in Q1 2025, reflecting a growth of approximately 26%[32] Liabilities and Assets - Total assets decreased from $3,323,992 thousand to $3,283,194 thousand, a decline of approximately 1.2%[18] - Total liabilities slightly decreased from $3,992,620 thousand to $3,977,714 thousand, a reduction of about 0.4%[18] Share Information - The weighted average shares outstanding for basic and diluted calculations were 269,872 and 296,518, respectively[34] - The company adopted a long-term projected non-GAAP tax rate of 20% for calculating non-GAAP net income and income per share, effective from the third quarter of fiscal 2025[35]