Core Insights - 2025 was marked by commercial and political tensions affecting all market sectors, leading to a cautious approach from customers and a decrease in investments [5][6] - The company has successfully transitioned towards a SaaS model, with recurring revenues representing 75% of total revenues and a significant growth in SaaS subscriptions [7][14] Financial Performance - Total revenues for 2025 were €506.7 million, a decrease of 2% compared to 2024, with recurring revenues up by 2% [14][16] - Annual Recurring Revenue (ARR) reached €97.2 million, reflecting a 14% increase [15][16] - EBITDA before non-recurring items was €79.7 million, down 8%, with an EBITDA margin of 15.7% [16][18] - Net income for the year was €25.6 million, a decline of 14% [16][18] Fourth Quarter Highlights - In Q4 2025, revenues decreased by 2%, with recurring revenues increasing by 1% [10][11] - The backlog for perpetual software licenses and equipment decreased by €11.8 million compared to the start of the year [11] - EBITDA for Q4 was €18.1 million, down 8%, with a margin of 14.7% [11][12] Strategic Roadmap - The Lectra 4.0 strategy aims to position the company as a key player in Industry 4.0 by 2030, focusing on premium positioning and customer integration [20][21] - The company plans to maintain high R&D investments at around 12% of annual revenues to enhance AI and big data integration [21][22] - The strategic roadmap includes targeted acquisitions to strengthen skills and enhance the solution portfolio [28][29] Future Outlook - The company targets an increase in EBITDA margin by 120 to 180 basis points per year, assuming stable equipment orders [27] - Lectra aims for average annual growth in SaaS ARR of around 15%, contributing to recurring contract revenue growth of 5% to 8% [33]

Core Insights - Cloudflare Inc. reported Q4 2025 revenue of $615 million, a 34% year-over-year increase, exceeding analyst expectations of $591.43 million [1] - The company's customer base is expanding, with 4,298 customers now spending over $100,000 annually, a 23% increase from the previous year, contributing 73% of total revenue, up from 63% in 2022 [1] - For the full year 2025, revenue grew 29.8% to $2.17 billion, driven by higher customer spending and global expansion [1] Financial Projections - Cloudflare anticipates Q1 2026 revenue between $620 million and $621 million, reflecting a growth rate of 29% to 30% [2] - The company projects full-year 2026 revenue of $2.785 billion to $2.795 billion, indicating a growth rate of 28% to 29% [2] - Operating income for 2026 is expected to be between $378 million and $382 million, with a margin of 14% [2] Market Opportunities - The Total Addressable Market (TAM) for Cloudflare is expected to grow from $181 billion in 2025 to $231 billion by 2028, driven by advancements in AI, IoT, databases, and 5G services [2] - The company is positioned to capitalize on these expanding market opportunities [2] Leadership Changes - Chief Legal Officer Doug Kramer will resign effective March 31, 2026, after nearly 10 years, transitioning to a Senior Advisor role [3] - Alissa Starzak, currently Deputy Chief Legal Officer and Global Head of Public Policy, is expected to succeed him [3] Company Overview - Cloudflare, Inc. is a global cloud services company that enhances the security, speed, and reliability of websites and networks, protecting clients from DDoS attacks while optimizing internet traffic [4]

Group 1: AI and Semiconductor Investment Insights - Investors are advised to look beyond major semiconductor companies like Nvidia and Broadcom when considering AI stock investments [1] - Qualcomm is highlighted as a potential buy for investors with a modest budget, despite a challenging outlook for the upcoming year [2] Group 2: Qualcomm's Revenue and Market Challenges - Qualcomm generates most of its revenue from wireless handset sales, which are currently under pressure due to rising memory chip costs [3] - The company anticipates a decline in smartphone volume this year, which will negatively impact its revenue [3] - Memory chip prices have increased due to the demand for AI accelerator chips, with supply expected to remain tight until the end of 2026, affecting Qualcomm's revenue through mid-fiscal 2027 [4] Group 3: Qualcomm's Diversification and Long-term Opportunities - Qualcomm is diversifying its business beyond smartphones, with growth in its automotive and Internet of Things (IoT) segments, which are not affected by the memory chip shortage [5] - The company is entering the data center chip market with AI inference chips, which could provide significant growth opportunities [5] - In the long term, Qualcomm is well-positioned to benefit from the shift of AI inference from data centers to devices, potentially increasing demand for high-end devices that utilize Qualcomm's Snapdragon processors [6]

Industry Overview - The semiconductor industry experienced significant growth in 2025, with sales reaching $791.7 billion, marking a year-over-year increase of 25.6% from $630.5 billion [3][4] - The fourth quarter of 2025 saw sales of $236.6 billion, up 37.1% year over year and 13.6% sequentially [3] - Global semiconductor sales in December 2025 were $78.9 billion, reflecting a sequential increase of 2.7% [3] - The demand for logic and memory products drove sales, with logic product sales surging to $301.9 billion (up 39.9%) and memory products totaling $223.1 billion (up 34.8%) [4] - The global semiconductor industry is projected to reach nearly $1 trillion in sales in 2026 [4] Investment Opportunities - Semiconductor stocks such as Analog Devices (ADI), Silicon Laboratories Inc. (SLAB), Taiwan Semiconductor Manufacturing Company Limited (TSM), and ASML Holding N.V. (ASML) are highlighted as having strong growth potential [2] - Analog Devices is expected to have an earnings growth rate of 28% for the current year, with earnings estimates improving by 2.7% over the past 60 days [7][8] - Silicon Laboratories anticipates earnings growth of over 100% this year, driven by rising demand in AI and IoT [10][8] - Taiwan Semiconductor Manufacturing Company Limited expects a 33% earnings growth rate, with estimates improving by 15.7% over the past 60 days [12] - ASML Holding is projected to have an earnings growth rate of 18.8%, with estimates increasing by 8% over the past 60 days [14] Market Drivers - The semiconductor market is being propelled by robust demand for microchips in various sectors, including IoT, 6G, and AI, as well as the automotive industry [4][5] - Specialized AI chips are becoming essential as their applications expand from data centers to consumer devices, supporting complex computing needs and AI-intensive workloads [5]

Investment Rating - The report maintains an "Outperform" rating for the semiconductor industry [1] Core Insights - The semiconductor industry is experiencing a comprehensive price increase driven by the accelerated capital expenditures of overseas cloud vendors in 2026, with significant demand from AI servers leading to a shortage in testing capacity and subsequent price hikes across the supply chain [4][8] - The domestic semiconductor industry showed strong performance in January 2026, with a rise of 18.63%, significantly outperforming the Shanghai Composite Index, which increased by 1.65% during the same period [7][13] - Global semiconductor sales continued to grow, with a year-on-year increase of 37.1% in December 2025, marking 26 consecutive months of growth, and a forecasted 8.5% growth for 2026 [7][28] Summary by Sections 1. Semiconductor Market Performance - In January 2026, the semiconductor sector saw a strong performance, with integrated circuits rising by 18.52%, discrete devices by 18.91%, semiconductor materials by 19.04%, and semiconductor equipment by 18.88% [7][13] - The Philadelphia Semiconductor Index rose by 12.92% in January 2026, outperforming the Nasdaq 100, which increased by 1.20% [19][20] 2. Global Semiconductor Sales Growth - December 2025 global semiconductor sales reached approximately $78.9 billion, with a year-on-year growth of 37.1% and a month-on-month increase of 2.7% [28] - The sales of logic products grew by 39.9% year-on-year, reaching $301.9 billion, while memory products saw a 34.8% increase, totaling $223.1 billion [28] 3. Capital Expenditure Trends - The capital expenditures of the four major North American cloud vendors (Google, Microsoft, Meta, Amazon) increased by 67% year-on-year in Q4 2025, with expectations for continued acceleration in 2026 [7][28] - Google is projected to spend between $175 billion and $185 billion in 2026, a year-on-year increase of 91-102% [7] 4. Price Trends in Semiconductor Components - In January 2026, DRAM and NAND Flash spot prices continued to rise, with DRAM prices increasing by approximately 39% and NAND prices by about 35% month-on-month [7][28] - TrendForce has revised its price forecasts for Q1 2026, expecting a 90-95% increase in general DRAM contract prices and a 55-60% increase in NAND Flash contract prices [7][28]

(Primary Standard Industrial Classification Code Number) Cayman Islands 7373 Not Applicable (I.R.S. Employer Identification No.) 28 Genting Lane, #05-07, Platinum 28, Singapore 349585 As filed with the U.S. Securities and Exchange Commission on February 10, 2026. Registration No. 333-292044 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Evvolutions LeadTech Inc (Exact Name of Registrant as Specified ...

Company Overview - Samsara Inc. is a San Francisco-based Internet of Things company focused on telematics and data-driven insights for physical operations, serving customers across North America and Europe [4] - Founded in 2015, the company benefits from secular demand for digitization, automation, and AI-enabled efficiency in industries such as logistics, construction, and fleet management, supporting a durable long-term growth outlook despite near-term volatility [4] Financial Performance - In the third quarter of fiscal 2026, Samsara reported annual recurring revenue of $1.75 billion, representing a 29% year-over-year growth [3] - The company added a record 219 customers generating more than $100,000 in annual recurring revenue [3] Market Sentiment - BNP Paribas upgraded Samsara to Outperform from Neutral while maintaining its $40 price target, citing a more attractive risk/reward profile following a "tough year" for the stock [1] - The upgrade reflects growing confidence that recent share price pressure has better aligned valuation with the company's long-term fundamentals, setting the stage for improved performance as execution stabilizes [1] Product Innovation - Product innovation remains a key driver for Samsara, with new AI-powered coaching tools and the AI Multicam solution gaining traction by improving safety outcomes and deepening customer engagement across its platform [3]

Core Viewpoint - The global semiconductor sales are projected to reach a record high of $791.7 billion in 2025, representing a 25.6% increase from $630.5 billion in 2024, driven by strong demand from emerging technologies like AI, IoT, and 6G [2][5]. Group 1: Sales Projections - In 2025, the semiconductor sales are expected to be $791.7 billion, with Q4 sales reaching $236.6 billion, a 37.1% increase from Q4 2024 and a 13.6% increase from Q3 2025 [2]. - The monthly sales data indicates that December 2025 sales will be $78.9 billion, a 2.7% increase from November 2025 [2]. Group 2: Regional Performance - Sales growth is observed across various regions: Asia-Pacific and others (45.0%), Americas (30.5%), China (17.3%), and Europe (6.3%), while Japan's sales decreased by 4.7% [5]. - In December, sales increased in the Americas (3.9%), China (3.8%), and Asia-Pacific (2.5%), but decreased in Europe (-2.2%) and Japan (-2.5%) [5]. Group 3: Product Segmentation - Logic products are projected to see a sales increase of 39.9%, reaching $301.9 billion, making it the largest product category by sales in 2025 [6]. - Memory products are expected to grow by 34.8% in 2024, reaching $223.1 billion, ranking second in sales [6].

Core Insights - Impinj's stock experienced a significant decline of 21.4% following the announcement of fourth-quarter results that slightly missed estimates and a disappointing first-quarter guidance [1] Financial Performance - Fourth-quarter revenue was flat, increasing by 1.4% to $92.8 million, aligning with analyst consensus [1] - Adjusted EBITDA rose from $15 million to $16.4 million, while adjusted earnings per share increased to $0.50 from $0.48, slightly below the consensus estimate of $0.51 [2] - On a GAAP basis, the company reported a loss of $1.1 million for the quarter and a total GAAP loss of $10.8 million for the year [2] Management Commentary - CEO Chris Diorio described 2025 as a "transition year" for Impinj, highlighting challenges such as tariffs, inventory reductions, and a decline in apparel imports and RFID adoption in general merchandise [3] Future Outlook - The company forecasted first-quarter revenue between $71 million and $74 million, indicating a 2% decline at the midpoint, which is significantly below the analyst consensus of $90.5 million [4] - Impinj anticipates a GAAP net loss of $15.1 million to $16.6 million, with adjusted per-share profit expectations of $0.08 to $0.13, far worse than the estimated $0.39 [4] Market Reaction - Wall Street analysts have lowered their price targets for Impinj but generally maintained positive ratings, noting the historical volatility of the business and questioning the stock's premium valuation amid ongoing headwinds [5]

Core Insights - Resideo Technologies has won two 2026 IoT Breakthrough Awards for its Honeywell Home X8S smart thermostat and First Alert CX4 video cameras, highlighting its innovation in connected technology [1][3] Company Overview - Resideo is a leading global provider of home comfort, safety, and security solutions, with a strong presence in over 150 million residential and commercial spaces worldwide [5] - The company sells tens of millions of new devices annually and has over a century of proven expertise in the industry [5] Product Recognition - The Honeywell Home X8S smart thermostat was awarded "Smart Heating and Cooling Product of the Year" for its advanced features, including live video streaming, precision sensing, and indoor air quality monitoring [8] - The First Alert CX4 video cameras received the title of "Connected Home Camera Product of the Year" for their high-quality video and flexible installation options, enhancing home security [8] Industry Impact - The 2026 IoT Breakthrough Awards evaluated nearly 4,000 nominations, emphasizing Resideo's leadership in the smart home ecosystem and its commitment to delivering technology that addresses real-world problems [3]