Each week we run a DCF (Discounted Cash Flow) model on a company from our watchlist. This week’s pick: Amazon.com, Inc. (AMZN).ProfileAmazon.com is one of the world’s largest technology and retail platforms, operating through its North America, International, and AWS segments. The company dominates global e-commerce, cloud computing, and digital advertising, while expanding into AI infrastructure and subscription ecosystems like Prime Video and Music.AWS remains the primary profit engine, generating high-ma ...

Customers are planning large increases in production at their chip factories, stoking the need for the company's equipment, services and solutions, said CEO Gary Dickerson. ...

Core Insights - zSpace, Inc. reported financial results for Q3 2025, highlighting a focus on strategic priorities and revenue growth in software and services despite macroeconomic challenges [2][4]. Financial Performance - Revenue for Q3 2025 was $8.8 million, a decrease from $14.2 million in Q3 2024, attributed to an unusually large customer order in the previous year that did not repeat [4][6]. - Software and services accounted for 57% of total revenue, up from 46% year-over-year [6]. - Gross margin improved to 51% from 45% in the same quarter last year, reflecting a 642 basis point increase due to better hardware cost profiles and more company-owned software content [5][6]. - The net loss for Q3 2025 was ($6.2) million, compared to a net loss of ($0.2) million in Q3 2024 [6][8]. - Adjusted EBITDA for the quarter was ($2.0) million, down from $0.4 million in the prior year [6]. Business Highlights - zSpace launched the Career Explorer application, developed by the acquired Second Avenue Learning team, which has generated strong customer interest [2]. - The company partnered with GEMS Education to deploy AR/VR learning solutions in Dubai, marking a significant expansion in its international presence [6]. - Danbury Public Schools in Connecticut fully deployed zSpace's Career Coach AI and STEM learning technology across its middle and high schools, serving over 12,000 students [6]. - zSpace introduced several new training solutions, including the Heavy Machine & Vehicle Inspection Virtual Trainer and the Medical Assisting Skills Virtual Trainer, enhancing its product offerings [6]. Key Metrics - Annualized Contract Value (ACV) for renewable software was $10.2 million as of September 30, 2025, a 10% decrease from the previous year [7]. - Net Dollar Revenue Retention (NDRR) was 77% for customers with over $50,000 of ACV, down from the previous year [7]. - Bookings in Q3 2025 were $7.4 million, a decline of 37% year-over-year, with a backlog of unfulfilled orders amounting to $6.4 million [7]. Balance Sheet - As of September 30, 2025, zSpace had approximately $4.3 million in cash and cash equivalents, an increase from $3.2 million a year earlier [9][20]. - Total liabilities stood at $33.1 million, down from $42.5 million in the previous year [21].

The robots are coming, but a fintech veteran says they're not replacing human workers. "I don't think it's coming for our jobs," Affirm (AFRM) CEO Max Levchin told Yahoo Finance Executive Editor Brian Sozzi at Yahoo Finance's Invest event. "I'm a huge believer in this notion that AI and embodied AI is a collection of tools for us to lead better lives, to do more." The former PayPal co-founder started buy now, pay later (BNPL) service Affirm in 2012. The fintech offers a fee-free flexible payment system. ...

Peter Atwater, adjunct professor of economics at William & Mary and president of Financial Insyghts, knows a thing or two about the K-shaped economy. Anonymous Twitter user “Ivan the K” introduced the idea of a “K recovering” following the pandemic, a gloomy outlook where some elements of life before COVID would recover, while some will not. Atwater popularized it.Atwater credits Ivan the K for the coining the term, but said he was the first to run with it, publishing a series of pieces in 2020 about the gr ...

European markets have maintained strong momentum, as the Stoxx 600 gained nearly 15% year to date, signaling sustained market confidence. The pan-European index has gained about 2.4% month to date, outpacing its transatlantic peer, the S&P 500, which has remained largely flat over the same period.European stocks rose on Wednesday, marking the second consecutive record close, as the U.S. government shutdown ended, lifted by financials and solid earnings results. Additionally, economic data showed that the eu ...

Amgen Inc. (NASDAQ:AMGN) is one of the stocks Jim Cramer recently put under a microscope. Cramer showed quite a bullish sentiment toward the company’s stock, as he remarked: “If you want to venture beyond what we call the CPG, consumer packaged goods, world, I think you’d do very well with owning J&J or Amgen… Amgen’s working on cholesterol with its Repatha injection, and it’s doing something very different with weight loss that could lead to terrific outcomes. They both have yields, more than 2.7%. How s ...

Core Viewpoint - Qorvo, Inc. (NASDAQ:QRVO) is in the spotlight following the announcement of its acquisition by Skyworks Solutions, which aims to create a combined entity valued at $22 billion [2]. Company Overview - Qorvo, Inc. is a semiconductor company specializing in radio frequency, power management, sensors, and other chip products [2]. - The acquisition deal includes a cash offer of $32.50 per share and 0.960 of Skyworks' shares, resulting in a final offer price of $105.31 per share for Qorvo [2]. Market Reaction - Following the announcement of the acquisition, Qorvo's shares increased by 5.7% [2]. Analyst Insights - Mizuho raised Qorvo's share price target from $75 to $93 while maintaining a Neutral rating, citing concerns over a Chinese market exit and declining iPhone sales [2]. - Jim Cramer expressed a positive outlook on the Skyworks deal, suggesting it is a good opportunity despite concerns about business performance with major customers [3].

Summary of Tempus AI Conference Call Company Overview - **Company**: Tempus AI - **Industry**: Life Sciences and Diagnostics Key Points AI Integration in Diagnostics and Biopharma - Tempus AI leverages AI across its operations, focusing on enhancing patient care through data and technology [4][5][6] - The company has developed platforms like Hub and Lens to facilitate interaction with diagnostic tests and build patient cohorts, respectively [4][5] - A partnership with AstraZeneca and Pathos aims to create a foundation model to extract insights from large datasets [6] Financial Performance - The third quarter reported a **28% organic growth**, with specific segments showing: - **Genomics**: High 20s growth - **Ambry**: 33% growth - **Data Licensing**: 37% growth [10][12] - Adjusted EBITDA turned positive, marking a significant milestone for the company [13] Oncology and Hereditary Testing - Oncology volumes grew by **27%**, while Ambry benefited from market disruptions in hereditary screening [12][42] - The hereditary testing market is expected to moderate as share gains stabilize [12] Data Licensing and Contracts - Total remaining contract value exceeded **$1 billion**, with a net revenue retention rate of **140%** [48] - New contracts included a **$66 million deal** with a biotech customer and expansions with existing clients [48] - The company anticipates strong engagement from both big pharma and biotech sectors [48] Market Position and Competition - Tempus AI has established connections with over **5,000 institutions**, enhancing its data collection and diagnostic capabilities [19] - The company emphasizes ease of use and connectivity as key differentiators against competitors [20] Reimbursement Trends - Average Selling Prices (ASPs) have increased to approximately **$1,600**, with expectations for **40%** of xT volumes to transition to ADLT pricing by year-end [22][23] - The company aims for **85%** of xT volumes to shift to ADLT pricing by the end of 2026 [23] Clinical Trials and CRO Business - The CRO segment has faced headwinds, but the acquisition of a small CRO aims to enhance clinical trial matching capabilities [61] - The company does not prioritize aggressive growth in the CRO sector but sees potential stabilization as funding for CROs improves [61] Investment and Growth Strategy - Tempus AI plans to reinvest about **two-thirds** of incremental gross profit back into the business over the next three years to support growth [64] - The company aims for long-term growth rates of **25-30%**, focusing on sustainable growth rather than maximizing quarterly revenue [58][64] Gross Margins and Future Outlook - Genomics business margins are expected to stabilize around **low 60%**, while data operations may achieve **mid 70%** margins [66] - AI applications, though currently a small revenue source, are anticipated to positively impact margins as they scale [68] Upcoming Developments - Data from a new ultra-high sensitivity assay for MRD is expected in **2026**, with further developments in breast cancer and immuno-oncology to follow in **2027** [38][39] Additional Insights - The company is cautious about the competitive landscape in MRD testing, focusing on leveraging existing data connections and insights to gain market share [34][35] - Tempus AI's strategy emphasizes long-term relationships with clients to ensure sustained growth and value delivery [58][59]

Financial Data and Key Metrics Changes - Adjusted EPS for fiscal 2025 increased by 19% compared to fiscal 2024, achieving a 19% compound annual growth rate over the past three fiscal years [6][7] - The company expects double-digit adjusted EPS growth for fiscal 2026 [7] - Free cash flow is projected to continue growing, allowing for increased capital returns to shareholders, including a target of $7 billion in share repurchases for 2026, up from $3.5 billion in fiscal 2025 [8][25] Business Line Data and Key Metrics Changes - The streaming business reported a 39% increase in operating income in Q4, totaling $1.3 billion for the full year, significantly up from a $4 billion operating loss three years ago [11] - The film studio segment achieved a global box office of over $4 billion for the fourth consecutive year, with notable successes including "Lilo & Stitch" and "Predator: Badlands" [9][10] - Retail sales from the consumer products business surpassed $4 billion in fiscal 2025, driven by popular franchises [9] Market Data and Key Metrics Changes - ESPN's direct-to-consumer service has seen strong adoption, with a significant number of subscribers opting for bundled packages, leading to lower churn rates [20][31] - Viewership for live sports on ESPN networks increased by 25% year-over-year [13] Company Strategy and Development Direction - The company is focusing on integrating its streaming services into a unified app experience, enhancing user engagement and simplifying access to content [12][44] - Strategic investments are being made in international markets and original content to expand the direct-to-consumer business [12][76] - The company plans to continue expanding its cruise line and theme park offerings, with new ships and attractions set to launch [14][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the upcoming film slate and the overall direction of the studio business [37][38] - The company is optimistic about the future of ESPN and its ability to adapt to changing consumer preferences in sports consumption [22][23] - Management highlighted the importance of protecting intellectual property while exploring opportunities with emerging AI technologies [81][82] Other Important Information - The board declared a cash dividend of $1.50 per share, a 50% increase from the previous year [8] - The company is actively engaged in negotiations with YouTube regarding content distribution, emphasizing the importance of maintaining consumer access [84][85] Q&A Session Summary Question: Insights on ESPN's direct-to-consumer launch - Management noted strong initial success in attracting new users and engagement with the app's features, leading to positive advertiser interest [20][22] Question: Content growth outlook for the studio - Management expressed optimism about the upcoming film slate, including major releases like "Zootopia 2" and "Avatar: Fire and Ash" [37][38] Question: Future of Disney Plus as a super app - Management discussed ongoing enhancements to Disney Plus, aiming to create a comprehensive platform for all Disney offerings, including parks and merchandise [43][44] Question: M&A opportunities in the media landscape - Management indicated satisfaction with the current IP portfolio and does not foresee significant M&A activity, focusing instead on organic growth [53][54] Question: Demand trends for parks and cruises - Management reported strong demand for cruises and stable attendance at parks, with advanced bookings up 3% [60][72]