Core Insights - Progress Software will release its financial results for the fiscal third quarter of 2025 on September 29, 2025, after market close [1] - A conference call to discuss the results will take place at 5:00 p.m. ET on the same day [1] Financial Results Announcement - The third quarter of fiscal year 2025 ended on August 31, 2025 [1] - The company encourages participants to join the conference call 15 minutes early to avoid delays [2] Company Overview - Progress Software provides AI-powered digital experience and infrastructure software, enabling organizations to manage applications and digital experiences effectively [3] - The company supports over 4 million developers and technologists across hundreds of thousands of enterprises [3]

Core Insights - Tapestry, Inc. is implementing a three-year "Amplify" strategy aimed at profitable growth and strong shareholder returns, focusing on emotional connections with consumers, fashion innovation, global experiences, and a consumer-focused culture [1][2] Company Strategy - The strategy is particularly focused on attracting Millennials and Gen Z, who are increasingly choosing Coach, with projections indicating that by 2030, these demographics will represent over 70% of the luxury market [2][3] - Tapestry aims to capture the initial luxury purchases of these younger consumers, emphasizing the long-term value of acquiring customers at this entry point [3] Financial Performance - In the quarter ending June 28, Tapestry reported a non-cash impairment charge of $855 million related to Kate Spade, alongside a 13% revenue decline for the brand [3] - Despite these challenges, Tapestry is confident in its strategy to drive future growth for both Coach and Kate Spade [3] Growth Projections - Tapestry projects mid-single-digit annual revenue growth (CAGR) for Coach and aims to expand its operating margin to the mid-30% range over the next three years, with a long-term goal of reaching $10 billion in annual revenue [4] - Kate Spade is expected to return to profitable top-line growth by Fiscal 2027, targeting mid-single-digit revenue growth and high single-digit operating margin by Fiscal 2028 [4] Marketing and Investment - Tapestry has significantly increased its marketing investment from 3.5% to over 11% of revenue over the past three years, with plans to further increase it by 200 basis points [5] - The company emphasizes the importance of scale and marketing investment in a competitive landscape with low barriers to entry but significant barriers to scale [5] Shareholder Returns - Tapestry plans to return $4 billion to shareholders by fiscal 2028, representing 100% of adjusted free cash flow from FY26 to FY28, even after capital expenditures [6] - The company is focused on a sustainable mid-single-digit growth rate, with capital allocation priorities including growing dividends and a recently authorized $3 billion share repurchase [7]

Financial Performance - Trailing twelve month subscription revenues reached $8.227 billion, demonstrating a year-over-year growth of 14.7%[9] - Trailing twelve month non-GAAP operating income was $2.511 billion, resulting in a 28.0% margin[9] - Trailing twelve month operating cash flow amounted to $2.591 billion, achieving a 28.9% margin[9] - Q2 FY26 total revenues were $2.348 billion, a 12.6% increase year-over-year[22] - Q2 FY26 subscription revenues reached $2.169 billion, reflecting a 14.0% increase year-over-year[22] - The company anticipates full year FY26 subscription revenues of $8.815 billion, representing a 14% increase year-over-year[13, 29] Customer Base and Market Position - The company serves 65%+ of the Fortune 500, including 70%+ of the top 50 Fortune 500 companies[9] - The customer community represents more than 75 million users under contract[10, 27] - The estimated total addressable market (TAM) is $160 billion[9] Strategic Initiatives - The company entered into an agreement to acquire Paradox for approximately $1 billion in cash and acquired Flowise[27] - The company launched Workday Government, a new subsidiary dedicated to serving the U.S Government[27]

Core Insights - 95% of enterprises have faced AI-related incidents, highlighting a significant gap between AI adoption and responsible AI readiness, which exposes them to reputational risks and financial losses [1][4] - 78% of companies view responsible AI (RAI) as a driver for business growth, yet only 2% have adequate RAI controls in place [1][4] AI Risks and Impact - The report indicates that 77% of organizations have reported financial losses due to poorly implemented AI, and 53% have experienced reputational damage from AI-related incidents [2][3] - 39% of executives characterize the damage from AI issues as "severe" or "extremely severe" [4] Responsible AI Implementation - RAI capability is inconsistent across enterprises, with only 2% classified as "RAI leaders" meeting full standards, while 15% are "RAI followers" meeting three-quarters of the standards [4] - RAI leaders experience 39% lower financial losses and 18% lower severity from AI incidents compared to others [4] Executive Perspectives - 86% of executives aware of agentic AI believe it will introduce new risks and compliance issues [4] - 78% of senior leaders see RAI as beneficial for revenue growth, and 83% believe future AI regulations will encourage more initiatives [4] Recommendations for Enterprises - Companies are advised to shift from viewing RAI as a compliance obligation to a strategic advantage, focusing on building scalable and trusted AI systems [4][5] - Establishing a centralized RAI office is recommended to monitor risks and set policies as AI scales [5][10]

Core Insights - Sidetrade has released its 2024 CSR Report, emphasizing its commitment to sustainable technology, ethical governance, and inclusive growth [1] - The company achieved a remarkable revenue growth of 26% in 2024 while simultaneously reducing its carbon footprint by 3.3%, showcasing its ambition to decouple business growth from environmental impact [2] Financial Performance - In 2024, Sidetrade reported a revenue growth of 26% [2] - The company analyzes $7.2 trillion worth of B2B payment transactions daily, indicating its significant market presence [6] Environmental Initiatives - Sidetrade launched a digital sobriety program with a virtualization rate of 95.6% and data centers powered by renewable energy [3] - The company's Power Usage Effectiveness is 1.39, which is well below the EU average, setting new benchmarks in the SaaS industry [3] Recognition and Ratings - Sidetrade earned a Platinum Medal from EthiFinance and a Silver Medal from EcoVadis, placing it among the top 15% of rated companies in Europe [4] - These accolades reflect the company's tangible carbon reductions and strong CSR governance [4] Corporate Social Responsibility (CSR) Goals - Sidetrade aligns its roadmap with 10 of the UN's Sustainable Development Goals, focusing on climate action, workplace equity, ethical governance, and digital resilience [5] - The company emphasizes excellence and ambition as key drivers of its CSR journey [5]

Social Media & Engagement - Microsoft encourages users to subscribe to their YouTube channel [1] - Microsoft promotes engagement through various social media platforms like LinkedIn, Twitter, Facebook, and Instagram [1] Company Information - The document directs users to Microsoft's official website for more information about the company, its technology, and its mission [1]

Core Points - Darktrace has achieved ISO/IEC 42001 certification, becoming one of the first cybersecurity companies globally to do so, which establishes a structured framework for AI governance and responsible deployment [1][2][6] - The certification enhances Darktrace's existing responsible AI approach, focusing on principles such as privacy, interpretability, security, robustness, accuracy, and 'do no harm' [2][5] - Darktrace's certification process involved an 11-month partnership with BSI, which included developing a comprehensive AI Management System and rigorous auditing [3][4] Company Overview - Darktrace is a global leader in AI for cybersecurity, founded in 2013, and protects organizations from unknown threats using proprietary AI that learns in real-time [8] - The company has over 2,400 employees and serves nearly 10,000 customers across various industries, showcasing its significant market presence [8] - Darktrace's platform includes the Darktrace ActiveAI Security Platform™, which provides proactive cyber resilience and real-time threat detection and response [8] Certification Details - ISO/IEC 42001 was developed by leading AI specialists and ensures alignment with best practices, allowing organizations to fulfill regulatory and ethical obligations [6][7] - The certification encompasses a wide scope due to Darktrace's unique Self-Learning approach, which utilizes multi-layered AI systems for various cybersecurity tasks [4] - Darktrace's existing certifications include ISO/IEC 27001, ISO/IEC 27018, and Cyber Essentials, demonstrating a strong commitment to technology and data protection [5]

Core Insights - TELUS participated in the United Nations AI for Good Global Summit 2025, showcasing its commitment to responsible AI development and ethical technology innovation [1][2][5] - The company is a member of the International Telecommunication Union (ITU)-led AI Skills Coalition, aiming to close the AI skills gap globally [2][4] - TELUS emphasizes a human-centric approach to AI, focusing on building trust through transparent data practices and collaboration with Indigenous Peoples [3][4][6] Company Initiatives - TELUS hosted a workshop titled "Crafting ethical AI with Indigenous intelligence," demonstrating its collaboration with Indigenous Peoples to create meaningful AI practices [3][4] - The company has developed a generative AI customer support tool, Fuel iX, and achieved ISO 31700-1 Privacy by Design certification, highlighting its leadership in responsible AI development [5][6] - TELUS is launching Sovereign AI Factories in Canada, utilizing sustainable practices and renewable energy to drive innovation while keeping data within the country [6] Industry Engagement - The AI for Good Summit featured multiple high-profile sessions where TELUS shared insights on responsible AI practices and governance [2][4] - The company’s recent 2025 AI Report included perspectives from over 5,500 respondents, focusing on the integration of Indigenous knowledge into AI development [4] - TELUS is recognized for its commitment to social impact and community partnerships, aligning with global standards for ethical AI practices [3][6]

AI发展与应用 - AI可以将梦想或想法变为现实，为内容创作（如图像、视频、音乐等）提供支持，并已应用于幻灯片制作等日常工作中 [5][7][8] - 行业内对AI的应用包括医疗保健领域更快速、更精确的诊断（速度快4倍，准确率提升30%），工业领域预测性维护减少停机时间（减少高达40%），以及自动驾驶汽车等 [12] - 聊天机器人（如ChatGPT）可以作为个人助理，以较低的成本（每月低于25美元）提供全天候支持，协助项目工作 [9] - 目前ChatGPT每1.5秒收到一个请求，相当于每天约57 million个请求，反映了AI驱动决策的普及 [25] AI伦理与安全 - 行业内网络安全是首要支出领域，占比70%，其次是自动化，AI位列第三，表明在AI发展的同时，安全问题日益受到重视 [27] - 强调负责任的AI的重要性，包括伦理、安全和公平，以应对潜在的风险，如机器人或无人机被黑客攻击 [27] - 随着AI系统掌握用户数据，包括恐惧和秘密，数据安全和隐私保护成为重要议题 [26] - 呼吁重视AI时代的情感、共情，避免过度依赖机器导致失去自我 [20][11] 未来展望 - 未来一代将在数字世界中成长，更快地适应技术，因此正确引导和教育他们负责任地使用技术至关重要 [16][18][19] - 鼓励人们记录下任何想法，因为在当今技术下，任何想法都有可能成为现实 [30] - AI的未来是人与机器的协作，而非对抗，共同创造一个更美好的世界 [28][29]

Financial Data and Key Metrics Changes - The company reported a 10% increase in free cash flow to $126 million and reaffirmed a target of $200 million for fiscal 2026 [11][47] - Adjusted operating margin improved by 300 basis points, and adjusted EBITDA margin increased by 120 basis points [11][42] - Adjusted revenue for the full year rose by 3%, driven by research and academic growth, while adjusted operating income and adjusted EPS increased by 29% and 318% respectively [42][45] Business Line Data and Key Metrics Changes - Research segment revenue increased by 3% for the full year, supported by growth in recurring revenue models and Open Access programs [42][44] - Learning segment revenue declined by 5% in Q4 but rose by 2% for the year, driven by AI licensing and steady market conditions in academic [45][46] - AI licensing revenue totaled $40 million for the year, with significant contributions from new agreements [10][27] Market Data and Key Metrics Changes - Strong demand for publishing was noted across key markets, with double-digit growth in submissions from India and China, as well as growth in the UK, France, Italy, Brazil, and Canada [17][18] - The company executed landmark multi-year agreements in India and Brazil, expanding access to thousands of institutions [18][20] - The corporate market, which currently makes up about 10% of revenue, is expected to expand significantly as the company extends into corporate R&D [26][30] Company Strategy and Development Direction - The company aims to capitalize on AI opportunities and has established partnerships with major tech companies for AI model training and development [7][29] - A focus on margin expansion and cost structure optimization remains a strategic priority, with ongoing investments in technology and research publishing platforms [36][40] - The company is committed to delivering profitable revenue growth and expanding margins in an uncertain economic environment [50][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and growth despite external uncertainties, citing strong internal indicators and a diversified revenue base [32][78] - The outlook for fiscal 2026 includes low to mid-single-digit revenue growth, with expectations for continued strength in Open Access and inclusive access models [51][62] - The company is prepared to navigate potential economic disruptions while maintaining a disciplined approach to margin expansion [77][80] Other Important Information - The company returned $137 million to shareholders through dividends and share repurchases, with a current dividend yield of approximately 3.5% [48][84] - Following the divestiture of university services, the company secured $120 million in cash proceeds, which will be used to reduce debt and interest expenses [11][48] Q&A Session Summary Question: Outlook for organic growth excluding AI - Management noted that strong Open Access revenues and a favorable renewal season provide visibility for continued organic growth [61][62] Question: Contribution of AI licensing revenue - The company indicated that the $1 million in vertical-specific applications is just the beginning, with potential for high-margin, recurring revenue models [66][68] Question: Planning and budgeting in the current environment - Management emphasized a balanced approach to planning, with strong visibility into the calendar year 2025 and a focus on maintaining flexibility amid uncertainties [75][78] Question: Future cash return strategy - The company plans to adopt a mixed approach to returning cash to shareholders while still investing in business opportunities [84][85]