HR tech firm Rippling raises new funding at $16.8 billion valuation, no IPO plans
Reuters· 2026-05-09 17:02
Core Insights - Rippling, an HR software startup, raised $450 million in Series G funding, achieving a valuation of $16.8 billion, focusing on global revenue growth over immediate profitability [1][4][5] Funding and Valuation - The funding round included participation from notable investors such as Y Combinator, Elad Gil, Sands Capital, GIC, and Goldman Sachs Growth [2] - The new valuation of $16.8 billion marks an increase from the previous valuation of $13.5 billion in early 2024 [4] Employee Equity and IPO Plans - Rippling plans to repurchase up to $200 million of equity from current and former employees through a tender offer, which may become an annual event [2][3] - The CEO stated that the company does not have immediate plans for an IPO, emphasizing the need for profitability before considering going public [4][6] Business Performance and Strategy - Rippling has surpassed $100 million in annual recurring revenue and serves over 20,000 customers with a suite of more than 20 products [5] - The company is prioritizing growth over profitability, indicating a strategic choice to expand rapidly rather than slow down for immediate profit [6] Legal Challenges - Rippling is involved in ongoing legal disputes with competitor Deel, including allegations of corporate espionage, which have raised questions about competitive practices in the tech industry [7][8]
Adobe Shares Drop After CEO Succession News Despite Earnings Beat
Financial Modeling Prep· 2026-03-13 16:06
Core Viewpoint - Adobe's CEO Shantanu Narayen will step down after 18 years, prompting a search for his successor, while the company reported strong quarterly results that surpassed analyst expectations, although shares fell over 7% in premarket trading [1] Financial Performance - For fiscal Q1 2026, Adobe reported adjusted earnings of $6.06 per share on revenue of $6.40 billion, exceeding analyst expectations of $5.86 per share on revenue of $6.28 billion [2] - Adobe's annualized recurring revenue (ARR) reached $26.06 billion, with remaining performance obligations totaling $22.22 billion; however, net new ARR of $400 million declined approximately 11% year over year due to challenges in the Adobe Stock business and timing issues with freemium offerings [3] Future Guidance - Looking ahead, Adobe forecasts fiscal Q2 adjusted earnings between $5.80 and $5.85 per share on revenue ranging from $6.43 billion to $6.48 billion, while analysts expect earnings of $5.70 per share on revenue of $6.43 billion [4]
Lennar Shares Slip After Earnings and Revenue Miss
Financial Modeling Prep· 2026-03-13 16:05
Core Viewpoint - Lennar Corp. reported first-quarter results that fell short of Wall Street expectations, leading to a decline in share price by approximately 1% in premarket trading Financial Performance - Adjusted earnings per share were $0.88, missing the analyst consensus estimate of $0.95 by $0.07 [1] - Revenue totaled $6.6 billion, below the forecast of $6.84 billion and down 13% year over year from $7.6 billion [1] Home Deliveries and Pricing - The company delivered 16,863 homes during the quarter, reflecting a 5% decline compared to the prior year [2] - The average selling price of homes decreased to $374,000 from $408,000 a year earlier, marking an 8% drop [2] Market Conditions and Margins - The decline in pricing was attributed to ongoing market weakness and increased reliance on sales incentives, which averaged about 14% during the quarter [3] - Gross margin on home sales contracted to 15.2% from 18.7% a year earlier, while selling, general and administrative expenses rose to 9.8% of home sales revenue from 8.5% [3] - Net margin was reported at 5.3% [3] Future Outlook - For the second quarter, the company expects to deliver between 20,000 and 21,000 homes, with gross margins projected at 15.5% to 16% and SG&A expenses ranging from 8.9% to 9.1% [4] - The midpoint of the delivery outlook, 20,500 homes, suggests sequential improvement as the spring homebuying season progresses [4] - The company reported 18,515 new orders during the quarter, up 1% year over year, and ended the period with a backlog of 15,588 homes valued at approximately $6.0 billion [4]
PagerDuty Shares Slide 12% After Weak Revenue Outlook
Financial Modeling Prep· 2026-03-13 16:04
Core Viewpoint - PagerDuty, Inc. reported fourth-quarter results that exceeded analyst expectations, but shares fell over 12% in premarket trading due to lower-than-expected fiscal 2027 revenue guidance [1][2] Financial Performance - The company posted adjusted earnings of $0.29 per share, surpassing the consensus estimate of $0.24 [1] - Revenue increased by 2.7% year over year to $124.8 million, exceeding the analyst forecast of $123.15 million [1] Future Guidance - For fiscal 2027, PagerDuty projected revenue between $488.5 million and $496.5 million, with a midpoint of $492.5 million, which is below the consensus estimate of $506.9 million [2] - The first quarter of fiscal 2027 is forecasted to generate revenue between $118.0 million and $120.0 million, with a midpoint of $119.0 million, also falling short of analyst expectations [2] Earnings Outlook - The company guided adjusted earnings per share of $0.23 to $0.25 for the first quarter and $1.23 to $1.28 for the full fiscal year, compared to the consensus estimate of $1.19 [3] - Adjusted operating income for the quarter was reported at $29.8 million, resulting in an operating margin of 23.9% [3] Recurring Revenue Metrics - Annual recurring revenue increased by 1% year over year to $498.7 million [3] - The dollar-based net retention rate declined to 98% from 106% a year earlier [3]
Rubrik Posts Strong Earnings Beat and Upbeat Outlook
Financial Modeling Prep· 2026-03-13 16:03
Core Insights - Rubrik Inc. reported fourth-quarter results that exceeded analyst expectations, with adjusted earnings of $0.04 per share, surpassing the estimated loss of $0.11 per share by $0.15 [1] - The company's revenue for the quarter reached $377.7 million, which is a 46% increase year over year and above the consensus estimate of $350.56 million [1] Subscription Revenue - Subscription annual recurring revenue (ARR) increased by 34% year over year to $1.46 billion, with a record addition of $115 million in net new subscription ARR during the quarter [2] - For the first quarter of fiscal 2027, Rubrik anticipates revenue between $365 million and $367 million, with a midpoint of $366 million exceeding the analyst consensus estimate of $349.5 million [2] Fiscal 2027 Guidance - For fiscal 2027, the company forecasts total revenue between $1.597 billion and $1.607 billion, with a midpoint of $1.602 billion above the consensus estimate of $1.58 billion [3] - Full-year adjusted earnings per share are expected to range from $0.07 to $0.27, with the low end matching analyst forecasts [3]
SentinelOne Shares Fall After Conservative Revenue Guidance
Financial Modeling Prep· 2026-03-13 16:01
Core Viewpoint - SentinelOne's shares fell over 3% in premarket trading following the release of first-quarter revenue guidance that met expectations, overshadowing stronger-than-expected fourth-quarter results Group 1: Revenue Guidance - The company forecasted fiscal first-quarter 2027 revenue between $276 million and $278 million, aligning closely with the analyst consensus estimate of $277.6 million [1] - Full-year revenue guidance of $1.20 billion to $1.21 billion also matched consensus estimates, leading to cautious investor interpretation [2] Group 2: Fourth-Quarter Performance - Fourth-quarter revenue increased by 20% year over year to $271.2 million, slightly exceeding analyst estimates of $271.17 million [2] - Adjusted earnings were reported at $0.07 per share, surpassing expectations by $0.01 [2] - Annualized recurring revenue grew by 22% to $1.119 billion, with net new ARR totaling $64 million, representing a 17% increase compared to the prior quarter [2] Group 3: Profitability Improvement - Non-GAAP operating margin improved to 5.7% from 1.2% in the same quarter last year [3] - Management anticipates approximately 600 basis points of operating margin expansion for the full year, targeting margins near 10% [3] Group 4: Product Performance and Customer Retention - Over 50% of new bookings originated from emerging products such as cloud security, data security, and AI [4] - The Purple AI platform achieved attach rates exceeding 50% on new enterprise bookings [4] - However, net revenue retention among customers generating over $100,000 annually declined to 109% from 112% in the previous quarter, attributed to geopolitical uncertainty [4]
Ulta Beauty Shares Drop 7% After Soft Outlook Despite Strong Q4 Results
Financial Modeling Prep· 2026-03-13 16:00
Core Viewpoint - Ulta Beauty's shares declined over 7% in premarket trading due to guidance that slightly missed expectations, despite reporting stronger-than-expected fourth-quarter results [1] Group 1: Financial Performance - For fiscal 2027, Ulta expects earnings per share between $28.05 and $28.55, below analyst forecasts of $28.57 [1] - The company projected net sales growth of 6% to 7% and earnings growth of approximately 9.4% to 11.4% [1] - For the fourth quarter, Ulta reported earnings of $8.01 per share, exceeding analyst estimates of $7.93 [2] - Revenue for the fourth quarter reached $3.9 billion, surpassing expectations of $3.81 billion [2] - Net sales rose 11.8% year over year, driven by stronger comparable sales, the acquisition of Space NK, and contributions from new store openings [3] Group 2: Sales Metrics - Comparable sales are expected to increase between 2.5% and 3.5% [2] - Comparable sales increased 5.8% during the quarter, supported by a 4.2% rise in average ticket size and a 1.6% increase in transaction volume [2]
Blue Gold Reports Successful Beta of Standard Gold Coin and ONE Wallet; Sets Q2 2026 Public Launch
Globenewswire· 2026-03-13 12:30
Gold to offer a consumer-grade self-custody experience without sacrificing security or compliance, a critical differentiation as regulatory scrutiny around digital asset custody continues to intensify. NEW YORK, March 13, 2026 (GLOBE NEWSWIRE) -- Blue Gold Limited (Nasdaq: BGL) ("Blue Gold" or the "Company"), a next-generation gold development and technology company, today announced the successful completion of a beta program for its Standard Gold Coin ("SGC") and ONE Wallet digital products, with a planned ...
Dow Jones set to lead recovery as oil dips below $100
Proactiveinvestors NA· 2026-03-13 12:20
Group 1 - Proactive Investors provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive has a history of adopting technology to enhance workflows and improve content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]
YY Group Welcomes The Landmark Bangkok to Growing Hospitality Client Portfolio
Prnewswire· 2026-03-13 12:17
Core Insights - YY Group has signed a one-year manpower outsourcing contract with The Landmark Bangkok, enhancing its portfolio in the luxury hospitality sector in Thailand [1] - The company aims to establish Thailand as a significant contributor to its manpower revenue alongside its operations in Singapore, Hong Kong, and Malaysia [1] - The addition of The Landmark Bangkok strengthens YY Circle Thailand's client base and operational efficiency in the Bangkok metropolitan area [1] Company Strategy - YY Group is focused on expanding its presence in Thailand's premium hospitality workforce market, driven by rising international tourism and demand for flexible manpower solutions [1] - The company plans to pursue partnerships with leading hotel brands to scale its operations in Thailand and create long-term recurring revenue streams [1] - YY Circle Thailand's rapid growth since joining YY Group in June 2025 includes acquiring clients like Central Group, CP All, and Shangri-La [1] Leadership Commentary - The CEO of YY Group emphasized that winning The Landmark Bangkok is a significant step in the company's growth strategy in Thailand [1] - The Country Director of YY Circle Thailand highlighted the growing confidence of premier hospitality operators in their staffing model and service quality [1]