A month has gone by since the last earnings report for Box (BOX) . Shares have lost about 7.4% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Box due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.How Have Estimates Been Moving Since Then?It turns out, estimates re ...

Rory O’Driscoll is a General Partner @ Scale where he has led investments in category leaders such as Bill.com (BILL), Box (BOX), DocuSign (DOCU), and WalkMe (WKME), among others. Jason Lemkin is one of the leading SaaS investors of the last decade with a portfolio including the likes of Algolia, Talkdesk, Owner, RevenueCat, Saleloft and more. ----------------------------------------------- In Today’s Episode We Discuss: 00:00 Intro 00:58 The Meta Acquisition Bombshell: Nat Friedman & Daniel Gross Join Face ...

Core Insights - Alkami Technology, Inc. has launched Out-of-the-Box Campaigns, a feature aimed at enhancing marketing efficiency for financial institutions by enabling quick, data-driven campaign execution [1][4] - The new campaigns are designed to simplify the marketing process, allowing banks and credit unions to engage their audiences effectively with minimal setup [2][4] Group 1: Product Features - Out-of-the-Box Campaigns streamline audience segmentation, allowing financial marketers to launch targeted, multi-channel engagements in minutes [1][2] - Each campaign targets specific marketing objectives such as deposit growth, loan engagement, and account holder activation, with automated performance tracking for real-time insights [4][8] - The campaigns are built on proven, data-driven use cases, eliminating the complexity of traditional marketing execution [2][4] Group 2: Market Impact - The ability to launch campaigns quickly without extensive planning or technical expertise is expected to enhance marketing efficiency and deepen engagement across key member segments [3][4] - Alkami's Data & Marketing Solution is integral to its Digital Sales & Service Platform, which supports financial institutions in delivering timely and intentional campaigns [5] Group 3: Company Background - Alkami Technology, Inc. is recognized as a leading cloud-based digital banking solutions provider in the U.S., helping clients grow and adapt in the digital landscape [6] - The company has received accolades from J.D. Power for providing an outstanding mobile banking platform experience in 2024 and 2025 [6]

After reaching an important support level, Box, Inc. (BOX) could be a good stock pick from a technical perspective. BOX recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. ...

Core Insights - Samba TV and Amazon Ads conducted a study demonstrating that outcome-based advertising significantly increases movie ticket purchases through digital solutions [1][4] - The analysis involved 213 million ad impressions correlated with Fandango purchase data, providing insights into the impact of Amazon Ads on ticket sales, especially among light TV viewers [2][3] Advertising Effectiveness - Brands utilizing Amazon Ads were 8.5 times more likely to reach light TV viewers, who represented 77% of ticket purchases on Fandango, highlighting Amazon's capability to engage hard-to-reach audiences [3] - The study revealed a 23% median lift in purchase consideration and a 13% median lift in confirmed purchases on Fandango due to Amazon Ads campaigns, compared to audiences not exposed to these ads [4] Discovery and Engagement - Amazon Ads campaigns also resulted in a 17% median lift in visits to movie detail pages, indicating a strong connection between media exposure and consumer actions [4] - The combination of traditional TV marketing and Amazon Ads yielded the highest increases in awareness and purchase intent, with lifts of 2x and 5.4x respectively, emphasizing the effectiveness of an omnichannel strategy [5] Comprehensive Insights - Advertisers require access to full-funnel insights to assess campaign impact, and Samba TV's dataset spans various channels, allowing measurement of performance based on real-world outcomes [6] - Samba TV's technology provides advertisers with a unified view of the consumer journey, enhancing marketing efficiency and effectiveness [7][8]

Company Overview - Box is a B2B company operating as an unstructured data platform, serving large enterprises including Fortune 500 companies [1][2] - Box has over 115,000 companies as customers, tens of millions of users, and manages over 1 exabyte of data [2] - Box is often the first AI deployed within large enterprises due to existing trust relationships [3] Data Extraction Evolution - Box initially used a straightforward architecture for data extraction involving pre-processing, OCR, and large language models [8] - The initial AI deployment processed 10 million pages, but encountered challenges with complex documents, OCR accuracy, language variations, and the need for confidence scores [9][10][11] - The company experienced a "trough of disillusionment" as the initial AI solution proved insufficient for diverse customer needs [12] Agentic Approach Implementation - Box re-architected its data extraction process using a multi-agent approach, separating problems into sub-agents [12] - The agentic system intelligently groups related fields, dynamically determines data extraction methods, and incorporates a quality feedback loop for continuous improvement [13] - This approach allows for easier updates and specialization, enabling the company to quickly adapt to new document types and customer requirements [13] Engineering and Customer Impact - Building agentic systems helps engineers think about AI and agentic workflows, leading to better understanding of customer needs [13] - This approach facilitates the development of tools that integrate with customer-built agents, enhancing the overall ecosystem [13] - The company advises building agentic systems early when developing intelligent features [14]

Group 1 - The public fallout between Trump and Musk is forcing Silicon Valley executives and tech investors to choose sides, creating pressure among Musk's allies who previously supported Trump [3] - Some investors are trying to maintain a delicate balance by supporting Musk while avoiding direct criticism of the White House, indicating a complex political landscape within the tech industry [3][6] - The conflict has led to speculation that Musk's loss of influence in Washington could benefit Chinese electric vehicle manufacturers, particularly BYD, as they are seen as Tesla's biggest competitors [8] Group 2 - Musk's proposal to form a new political party representing centrist Americans has garnered support from various tech leaders, reflecting a shift in political alignment within the industry [4] - The ongoing discord between Trump and Musk has not yet led to a clear division among most tech leaders, with many still weighing their options regarding political affiliations [6] - The commentary from industry figures suggests that the current political dynamics may not favor a swift alignment with Musk, as some express disappointment in his recent initiatives [6][7]

Core Insights - Upwork Inc. has announced the addition of Dana Evan and Glenn Kelman to its Board of Directors, aiming to enhance its operational excellence and market leadership in the AI talent and work sector [1][5][6] Group 1: Board Changes - Dana L. Evan and Glenn Kelman have officially joined Upwork's Board following the Annual Meeting of Stockholders on June 5, 2025 [2] - Gregory C. Gretsch and Elizabeth "Betsey" Nelson have concluded their service on the Board, with Gretsch retiring after being a founding investor since 2014 and Nelson not standing for re-election after serving since 2015 [2] Group 2: New Board Members' Backgrounds - Glenn Kelman, CEO of Redfin, has extensive experience in leading technology-powered marketplace businesses and will serve on the Compensation Committee [3] - Dana Evan, former CFO of VeriSign, has a strong background in financial leadership and governance, and will chair the Audit, Risk and Compliance Committee while also serving on the Compensation and Nominating and Governance Committees [4] Group 3: Strategic Focus - The additions of Evan and Kelman reflect Upwork's commitment to advancing its long-term strategy and growth, particularly in the context of AI-powered work solutions [5][6] - Upwork's leadership expresses confidence that the new board members will provide valuable insights and support the company's evolution and growth [6]

Core Insights - Disney's stock has declined 44% from its all-time highs, reflecting ongoing challenges despite being a leading name in entertainment [1] - Recent fiscal results indicate potential stabilization, with solid performance in the second quarter of 2025 and a successful film release [2] Company Overview - Disney operates in three main segments: entertainment, sports, and experiences, each contributing to its overall business model [4][5] - The entertainment segment includes streaming, film releases, and network TV, while sports focuses on sports-related content, and experiences cover parks and resorts [5] Financial Performance - In the latest quarter, Disney reported a 7% year-over-year increase in total revenue, with operating income more than doubling to $3.1 billion, driven by streaming growth [6] - Streaming subscriptions rose by 2.5 million, with Disney+ now profitable and expanding [6] - Linear networks showed a slight operating profit increase, while the sports segment experienced a decline in operating income [7] Film Success - Disney rebounded from previous production delays due to Hollywood strikes, ending 2024 with the highest-grossing film, Inside Out 2, and other successful releases [9] - In 2025, Disney holds half of the top 10 highest-grossing films domestically, with Lilo and Stitch achieving $279 million in domestic box office sales and over $600 million worldwide [10] - Upcoming releases include sequels and remakes, with a strong reliance on established franchises [11][12] Future Outlook - Disney has several films scheduled for release in 2026 and beyond, including major franchises like Avatar and Frozen, which are expected to perform well at the box office [13] - The company is positioned for a potential comeback, supported by a profitable streaming business and successful film releases, despite recent layoffs [14][15]

Financial Performance - For the three months ended April 30, 2025, revenue was $276.3 million, a year-over-year growth of 4%[113] - Billings for the three months ended April 30, 2025, were $242.3 million, an increase of 27% from $190.5 million for the same period in 2024[123] - Revenue for the three months ended April 30, 2025 was $276,272,000, a $11,614,000 or 4% increase from $264,658,000 in 2024, driven by seat growth and strong attach rates[145][147] - Gross profit for the three months ended April 30, 2025, was $215.6 million, with a gross margin of 78.0%[113] - Operating income for the three months ended April 30, 2025, was $6.3 million, with an operating margin of 2.3%[113] - Non-GAAP free cash flow for the three months ended April 30, 2025, was $118.3 million, a decrease of 4% from $123.2 million for the same period in 2024[127] Remaining Performance Obligations - Remaining performance obligations (RPO) as of April 30, 2025, were $1.469 billion, representing a 21% increase from $1.212 billion as of April 30, 2024[119] - The increase in RPO was primarily driven by expansion within existing customers and the addition of new customers, with a 390 basis point impact from favorable foreign currency exchange rates[120] Customer Retention - The net retention rate is a key metric indicating the long-term value of subscription agreements, reflecting the company's ability to retain and grow revenue from existing customers[129] - The net retention rate was 102% and 101% as of April 30, 2025 and 2024, respectively, indicating strong customer retention despite budget scrutiny[130] - The company expects to maintain a net retention rate above 100% in the foreseeable future as it continues to penetrate customer accounts[130] Expenses - Cost of revenue increased by $2,421,000 or 4% to $60,673,000, with gross margin remaining at 78%[148] - Research and development expenses rose by $9,628,000 or 15% to $72,301,000, representing 26% of revenue, driven by increased headcount and related costs[150][151] - Sales and marketing expenses increased by $6,426,000 or 7% to $99,099,000, accounting for 36% of revenue, influenced by workforce reorganization and employee-related costs[152][153] - General and administrative expenses grew by $4,808,000 or 15% to $37,861,000, representing 14% of revenue, primarily due to increased stock-based compensation and headcount[154][155] Cash Flow and Investments - As of April 30, 2025, cash and cash equivalents totaled $792.1 million, with operating cash flow generated of $127.1 million during the three months[161] - Net cash provided by operating activities decreased by $4.1 million to $127.1 million, attributed to a $9.0 million decrease in net income[162] - Net cash used in investing activities decreased by $12.8 million to $(10.4) million, primarily due to a $14.2 million decrease in purchases of short-term investments[164] - Net cash used in financing activities increased by $26.1 million to $(61.8) million, mainly due to a $17.5 million increase in stock repurchases[165] Debt and Financing - The company issued $460.0 million of 1.50% convertible senior notes due September 15, 2029, with a conversion price of approximately $43.46 per share[166] - A share repurchase plan was authorized, with $150 million allocated for repurchases; 1.6 million shares were repurchased at an average price of $31.28 per share for a total of $49.6 million[171] - The company had no debt outstanding on the June 2023 Facility as of April 30, 2025[169] Foreign Currency Exposure - Approximately one-third of the company's revenue is represented by customer contracts denominated in foreign currencies, including the Japanese Yen, Euro, and British Pound[186] - For the three months ended April 30, 2025, total revenue was unfavorably impacted by approximately 90 basis points due to foreign currency fluctuations compared to the prior period[187] - The company recognized $2.8 million in foreign currency exchange gains for the three months ended April 30, 2025, net of losses from foreign currency derivative contracts[189] - The company has entered into foreign currency derivative contracts to hedge unrealized gains and losses from remeasurement of monetary assets and liabilities denominated in foreign currencies[189] - The company has increasing exposure to fluctuations in foreign currency exchange rates as foreign operations grow, particularly in Japan[186] - The company has entered into foreign currency derivative contracts designated as cash flow hedges to mitigate the impact of foreign exchange rate fluctuations on future cash flows and earnings[189] Interest Income and Expense - Interest income for the three months ended April 30, 2025 was $6,698,000, an increase of $1,009,000 or 18% from $5,689,000 in 2024, attributed to higher cash and short-term investment balances[156][157] - Interest expense increased by $1.9 million, or 235%, to $(2.7) million for the three months ended April 30, 2025, primarily due to a $2.1 million increase related to the 2029 Convertible Notes[158] Tax Provision - Provision for income taxes rose by $0.3 million, or 7%, to $4.95 million, mainly due to increases in foreign income taxes from profitability and U.S. income taxes from the release of the U.S. valuation allowance[160]