Core Insights - The World Artificial Intelligence Conference has seen a surge in the number of intelligent agents, with over three times the number of products launched in the past three months compared to the entire previous year [1][2] - Intelligent agents, defined as autonomous entities capable of perceiving their environment and taking actions to achieve specific goals, are becoming a focal point in the tech industry [2][3] Industry Developments - Numerous companies, including MiniMax, SenseTime, and JieYue XingChen, have launched new intelligent agent products, while Fudan University has introduced an ethical review intelligent agent called "YiJian" [2] - In the industrial sector, Shanghai MajiGeek has released the first real-time spatial multimodal interactive intelligent agent, "Installation XiaoLingTong," aimed at improving construction efficiency and reducing errors [2] - The AI-Scientist platform by Zhongke Wenge focuses on enhancing research efficiency through AI collaboration, transforming the research paradigm from human-led to AI-assisted exploration [2] Market Trends - The global intelligent agent market has surpassed $5 billion, with an annual growth rate of 40%, indicating a significant expansion in this sector [4] - Major tech companies are investing heavily in intelligent agents, with Alibaba Cloud launching "Wuying AgentBay," a cloud infrastructure designed for intelligent agents [5] Technical Challenges - A key challenge in the intelligent agent market is the limited computing power of local devices, which struggles to support high-demand tasks, particularly those requiring extensive GPU processing [4] - New companies are emerging to address these challenges, such as Xinghuan Technology, which offers a new AI infrastructure technology to facilitate the rapid development of industry-specific intelligent agents [4] Safety and Security - Concerns regarding the safety of intelligent agents are rising, with over 70% of industry practitioners worried about issues like AI hallucinations, erroneous decisions, and data breaches [6] - Ant Group has upgraded its large model security solution, "Ant Tianjian," to include intelligent agent safety assessment tools, enhancing security measures for AI applications [6] - PPIO has introduced the first domestic intelligent agent sandbox product, designed to ensure secure execution of tasks in isolated environments, preventing data leaks and resource conflicts [6]

Financial Data and Key Metrics Changes - In Q2 2025, revenue reached $411.9 million, a 34% year-over-year increase, and adjusted EBITDA was $64 million, representing a 16% margin [30] - The company achieved GAAP profitability with a net income of $6.5 million, a significant improvement from a net loss of $12.1 million in 2024 [44] - Send volume grew by 40% to $18.5 billion, with SAN volume per active customer increasing by 12% year-over-year [32][30] Business Line Data and Key Metrics Changes - Remitly Business expanded its total addressable market (TAM) from approximately $2 trillion to over $22 trillion, targeting freelancers and small businesses [10] - The average transaction size for Remitly Business customers is nearly double that of core consumers, with retention signals tracking ahead of expectations [12] - The company onboarded thousands of businesses in Q2, indicating strong early momentum for Remitly Business [12] Market Data and Key Metrics Changes - Revenue from regions outside of India, the Philippines, and Mexico grew by 41% year-over-year, with the Mexican received business revenue growth outpacing overall revenue growth [34] - The U.S. revenue grew by 35%, driven by continued share gains, while the rest of the world grew by 40% year-over-year [34] - High amount senders saw a record year-over-year send volume growth of over 45%, with the volume mix from these customers increasing by 300 basis points [35] Company Strategy and Development Direction - The company aims to transform lives with trusted financial services that transcend borders, focusing on product innovation and expanding its customer base [7][26] - Key initiatives include the launch of Remitly One, a membership program, and the introduction of stablecoin capabilities to enhance cross-border financial services [13][20] - The company is leveraging AI to improve customer experience and drive revenue growth, with a focus on reducing friction in transactions [23][24] Management's Comments on Operating Environment and Future Outlook - Management views the upcoming remittance tax legislation as a tailwind for the business, expecting it to accelerate the shift from offline to online transactions [31] - The company is confident in its ability to sustain revenue growth and profitability, with a full-year revenue outlook of $1.61 billion to $1.62 billion, reflecting a growth rate of 27% to 28% [46] - Management emphasized the importance of innovation and customer engagement in driving long-term growth and shareholder value [28][52] Other Important Information - The company closed on a $550 million secured revolving credit facility to support rising customer transaction volumes [51] - A share repurchase program of $200 million was authorized to manage dilution and build long-term value for shareholders [51] Q&A Session Summary Question: Timeline and geographic phasing for new products - Management expressed excitement about expanding to new customer segments and does not expect new initiatives to impact marketing line items [55][57] Question: Customer profile for Remitly Wallet - The company aims to serve existing customers and capture demand from new customers moving to different countries, addressing their financial service needs [62][64] Question: Marketplace demand for stablecoins - Management noted a modest current demand for stablecoins but sees potential for future adoption, particularly in emerging markets [67][71] Question: Unit economics of stablecoin transactions - The revenue model for stablecoin transactions is expected to remain similar, leveraging the company's existing infrastructure and regulatory expertise [76][78] Question: Competition and pricing dynamics in remittances - Management highlighted the optimization of unit economics for small businesses and the potential to move upmarket over time [80][83]

Financial Data and Key Metrics Changes - The company reported revenue of $62.2 million for Q3 FY 2025, exceeding the high end of guidance which was $52 million to $56 million [22] - Adjusted EBITDA for the quarter was $9 million, significantly above the guidance range of $1 million to $4 million [25] - The company generated positive free cash flow of $16.1 million, marking the fifth consecutive quarter of positive free cash flow [5][28] - The full fiscal year revenue guidance was raised to a range of $244 million to $249 million, with the low end above the previous midpoint [5][30] Business Line Data and Key Metrics Changes - Variable license revenue was $34.2 million, up 48% year over year, reflecting solid utilization across the customer base [22] - Connected services revenue increased to $12.8 million, up 17% year over year, driven by growth in the connected installed base [24] - Professional services revenue was $15.2 million, down 8% from the prior year, reflecting a lower mix of custom work [24] Market Data and Key Metrics Changes - The company shipped 12.4 million units in Q3, an increase from 12.1 million in the prior year [26] - The number of connected cars shipped grew by 12%, indicating continued momentum in vehicle connectivity [26] - The company captured 52% of worldwide auto production, consistent with historical penetration [26] Company Strategy and Development Direction - The company is focused on advancing its AI roadmap, growing its business with new and existing customers, and continuing transformation and cost management [6][18] - Cerence XUI, the next-generation hybrid agentic AI assistant platform, is being developed with a strategic multi-year roadmap [6][7] - The company is expanding partnerships with chip providers like ARM to enhance performance and speed [7] Management's Comments on Operating Environment and Future Outlook - Management noted that while there are projections of a 2.5% decline in vehicle volumes for Q4, they believe the impacts will remain limited [19] - The company is optimistic about its strong customer interest and ongoing opportunities, particularly with new design wins and program extensions [12][13] - Management emphasized the importance of maintaining favorable conditions for the company while supporting customers [19] Other Important Information - The company has filed actions against Sony and TCL for infringement of its voice technology patents [20] - The partnership with LG is expected to leverage Cerence's technology across LG's global television lineup, enhancing user experience [15][17] Q&A Session Summary Question: Can you expand on what drove the increases this quarter? - Management indicated that the increases were across all three lines, with higher volume from embedded licenses and additional true-ups impacting professional services [35][36] Question: What are your customers saying in terms of auto production in the next six months? - Management noted that there was a build ahead in Q3, and while Q4 is expected to be more standard, they remain confident in the overall year-end performance [42][44] Question: Why the big move down in guidance for Q4? - Management explained that some of the Q3 revenue was pulled in from Q4 due to OEMs trying to get ahead of tariffs, leading to a more standard Q4 [51][52] Question: How should we think about your cash balance now? - Management stated that the company ended the quarter with over $79 million in cash and marketable securities and is comfortable operating at this level without adding debt [56][57] Question: Can you talk about new bookings in terms of market share? - Management indicated that the company is holding its market share and is competitive in ongoing RFQs, with several programs expected to close soon [72][84]

Financial Data and Key Metrics Changes - Total company organic revenues rose 7% with the big three segments growing by 9% [5][9] - Adjusted EBITDA increased 5% to $678 million, reflecting a 70 basis point margin increase to 37.8% [9][29] - Adjusted EPS was $0.87 for the quarter versus $0.85 in the prior year period [29] Business Line Data and Key Metrics Changes - Legal organic revenue grew 8%, driven by Westlaw and co counsel [10][26] - Corporates organic revenue grew 9%, with key contributions from legal, tax, and risk portfolios [10][26] - Tax and accounting organic revenues grew 11%, driven by Latin American and US businesses [10][26] - Reuters News organic revenues rose 5%, with all major lines contributing [10][27] - Global print organic revenues declined 7% [10][27] Market Data and Key Metrics Changes - The percentage of annualized contract value from GenAI-enabled products increased to 22%, up from 20% last quarter [28] - The company expects organic revenue growth of 7% to 7.5% for the full year 2025 [31] Company Strategy and Development Direction - The company continues to invest heavily in innovation, particularly in AI capabilities [6][12] - A balanced capital allocation approach is maintained, with a focus on strategic M&A opportunities [8][80] - The company aims to leverage its capital capacity of $10 billion through 2027 for growth [8][80] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed the full year 2025 outlook for organic revenue, adjusted EBITDA margin, and free cash flow [5][31] - The company is optimistic about the adoption of AI technologies among clients, with a significant portion showing interest [105][110] Other Important Information - The company repaid a $1 billion maturing bond issue and remains well-capitalized with net leverage of only 0.5 times [8] - The company is committed to returning 75% of free cash flow to shareholders, with potential share buybacks discussed [81][82] Q&A Session Summary Question: Can you provide a sense of the percentage of workflow currently being automated? - Management indicated that automation is still relatively modest in legal but more significant in tax and accounting, with ongoing efforts to automate ancillary tasks [39][40] Question: How does the company view its competitive position in the market? - Management believes they are ahead of competitors in tax and accounting innovations and highlighted the unique capabilities of their deep research technology [48][51] Question: What is the company's approach to managing margins and expenses? - Management explained that margin performance was driven by good operating leverage and timing of expenses, with confidence in maintaining guidance despite seasonal factors [58][60] Question: How is the company thinking about excess capital and potential returns to shareholders? - Management emphasized strategic M&A as a top priority for capital deployment, with ongoing discussions about share buybacks and dividend growth [80][81] Question: What is the adoption rate of GenAI-enabled products across different segments? - Management noted that there is significant interest in AI offerings across client cohorts, with varying levels of adoption [105][110]

Financial Data and Key Metrics Changes - Total company organic revenues rose 7% with the big three segments growing by 9% [4][7] - Adjusted EBITDA increased 5% to $678 million, reflecting a 70 basis point margin increase to 37.8% [7][28] - Free cash flow for 2025 was $843 million, up 4% from the prior year period [29] Business Line Data and Key Metrics Changes - Legal organic revenue grew 8%, driven by Westlaw and co counsel [8][24] - Corporates organic revenue grew 9%, with key contributions from legal, tax, and risk portfolios [9][24] - Tax and accounting organic revenues grew 11%, driven by Latin American and US businesses [9][24] - Reuters News organic revenues rose 5%, with all major lines contributing [10][25] - Global print organic revenues declined 7% [10][25] Market Data and Key Metrics Changes - The percentage of annualized contract value from GenAI-enabled products increased to 22%, up from 20% [26] - The company expects organic revenue growth of 7% to 7.5% for the full year 2025 [30] Company Strategy and Development Direction - The company is focused on leveraging Agentic AI to enhance legal and tax/accounting portfolios [5][11] - There is a commitment to a balanced capital allocation approach, with $10 billion of capital capacity through 2027 [6][78] - The company aims to continue investing in innovation and strategic M&A opportunities [6][78] Management's Comments on Operating Environment and Future Outlook - Management reaffirmed the full year 2025 outlook for organic revenue, adjusted EBITDA margin, and free cash flow [4][30] - The company remains confident in delivering its guidance for 2026, with organic revenue growth targets for the big three segments [31] Other Important Information - The company has introduced several new AI-powered products, including CoCounsel for Tax, Ready to Review, and Ready to Advise [15][16][18] - The integration of AI capabilities is seen as a key differentiator in the competitive landscape [48][50] Q&A Session Summary Question: Can you provide a sense of the percentage of workflow currently being automated? - Management indicated that automation is still relatively modest in legal but more advanced in tax and accounting, with significant time-consuming tasks being automated [36][38] Question: How does the company view its competitive position in the market? - Management believes they are ahead of competitors in tax and accounting innovations and highlighted the unique capabilities of their deep research technology [47][50] Question: What are the drivers behind the margin performance in the quarter? - Key factors included good operating leverage, timing of expenses, and revenue mix, with expectations for margin performance to normalize in the second half of the year [56][58] Question: How is the company thinking about excess capital and potential return of capital transactions? - The company prioritizes strategic M&A for capital deployment, with a commitment to return 75% of free cash flow, potentially including share buybacks [79][80] Question: What is the adoption rate of GenAI-enabled products across different segments? - The larger portion of GenAI-enabled products is currently in the legal segment, but growth is expected across all segments as new products are launched [110]

Financial Performance - Thomson Reuters' Q2 2025 revenues increased by 3% to $1.785 billion[12], with organic revenue growth of 7%[11, 12, 14] and recurring revenue growth of 9%[11, 14] - Adjusted EBITDA for Q2 2025 increased by 5% to $678 million[12], with an adjusted EBITDA margin of 37.8%[12], up 70 bps[12] - Adjusted EPS for Q2 2025 increased by 2% to $0.87[12] - Free cash flow for Q2 2025 increased by 4% to $566 million[12] Segment Performance - "Big 3" (Legal, Corporates, and Tax & Accounting) organic revenue growth was 9%[11, 15, 29, 30] - Legal Professionals revenues decreased by 2% to $709 million[14, 29, 30], but experienced organic growth of 8%[14, 29, 30] - Corporates revenues increased by 7% to $472 million[14, 29, 30], with organic growth of 9%[14, 29, 30] - Tax & Accounting Professionals revenues increased by 11% to $277 million[14, 29, 30], with organic growth of 11%[14, 29, 30] Innovation and AI - Agentic AI launches continue, including CoCounsel for Tax, Audit & Accounting and CoCounsel Legal[11, 18] - The company estimates ~$10 billion of capital capacity by 2027[11] Outlook - FY 2025 outlook for organic revenue growth, adjusted EBITDA margin, and free cash flow reaffirmed[11, 35] - Free cash flow is expected to be ~$1.9 billion[35]

Core Insights - Thomson Reuters reported a 3% increase in total revenues for Q2 2025, reaching $1,785 million, driven by a 3% growth in recurring revenues and a 5% increase in transaction revenues, despite a 7% decline in Global Print revenues [2][3][5] - The company launched new AI solutions, including CoCounsel Legal, aimed at enhancing its offerings in legal, tax, and accounting markets [1][5] - The company maintained its full-year 2025 outlook for organic revenue growth, adjusted EBITDA margin, and free cash flow [5][27] Financial Performance - Operating profit for Q2 2025 increased by 5% to $436 million, attributed to higher revenues and other operating gains [2][4] - Diluted earnings per share (EPS) decreased to $0.69, down 63% from $1.86 in the prior year, primarily due to currency losses and a significant non-cash tax benefit in the previous year [2][4] - Adjusted EBITDA rose by 5% to $678 million, with an adjusted EBITDA margin of 37.8%, up from 37.1% [2][4][5] Revenue Breakdown - The "Big 3" segments (Legal Professionals, Corporates, and Tax & Accounting Professionals) collectively accounted for 82% of total revenues, with organic revenue growth of 9% [6][8] - Legal Professionals segment revenues decreased by 2% to $709 million, while organic revenue growth was 8% [11][12] - Corporates segment revenues increased by 7% to $472 million, with organic growth of 9% [15][25] - Tax & Accounting Professionals segment revenues rose by 11% to $277 million, with organic growth of 11% [16][17] Cash Flow and Capital Allocation - Net cash provided by operating activities increased by $41 million to $746 million, reflecting higher operating profit [7][21] - Free cash flow for Q2 2025 increased by $25 million to $566 million [7] - The company repaid Canadian $1.4 billion (U.S. $1.0 billion) in notes with cash on hand in May 2025 [33] Outlook - The company expects approximately 7% organic revenue growth and an adjusted EBITDA margin of around 36% for Q3 2025 [28] - The full-year 2025 outlook remains unchanged, with total revenue growth projected at 3.0% to 3.5% and organic revenue growth at 7.0% to 7.5% [30][27]

CoCounsel Legal includes Deep Research, an industry-first AI solution grounded in Thomson Reuters expert legal content, starting with Westlaw TORONTO, Aug. 5, 2025 /PRNewswire/ -- Today, Thomson Reuters (TSX/Nasdaq: TRI), a global content and technology company, announced the launch of CoCounsel Legal, featuring Deep Research and agentic guided workflows. This milestone product release showcases Thomson Reuters most advanced AI offering to date, designed to help professionals move beyond prompting and start ...

Core Insights - Cisco will host Splunk's annual .conf25 user conference from September 8–11, 2025, in Boston, focusing on the integration of Splunk to leverage agentic AI for actionable insights from machine data [1][4] Group 1: Event Highlights - The conference will showcase new innovations, advancements in security and observability, and customer success stories [2][3] - Attendees will include major customers like Deloitte, Pizza Hut, T-Mobile, and Regeneron Pharmaceuticals, with Splunk leaders announcing new product innovations [3][4] - The event expects over 6,000 attendees and features performances by the band Weezer, making it Splunk's most anticipated event of the year [7] Group 2: Key Sessions and Awards - The conference will include an Innovation Keynote and a Product Keynote, where Cisco and Splunk leaders will discuss AI-centered product visions and unveil advancements in AI, security, and observability [7][8] - The Splunkie Awards and Splunk Partner Awards will recognize customers and partners for their exceptional results using Splunk's product portfolio [6] Group 3: Strategic Focus - Cisco executives will discuss partner integration updates, emphasizing a commitment to empowering the partner ecosystem and uncovering new revenue opportunities [5] - Splunk aims to demonstrate the value of machine data in maximizing AI trust and power, enhancing operational productivity, and protecting against AI-driven cyberattacks [4][10]

Summary of Conference Call on Agent Technology in the Computer Industry Industry Overview - The conference call focuses on the **Agent technology** within the **computer industry**, highlighting its development stages: **Generative AI**, **Agentic AI**, and **Physical AI**. Currently, Generative AI has been implemented, with future advancements expected towards Agentic AI [1][6]. Core Insights and Arguments - **Market Potential and ROI**: The evaluation of Agent technology's application prospects should consider market space and return on investment (ROI). High-salary industries such as finance, law, and the internet have significant replacement potential, especially in scenarios with high fault tolerance and quick result validation, such as programming [1][3][7]. - **AI in Finance**: AI is accelerating the replacement of traditional operations in the financial sector, particularly in banking and securities. Companies like **Alpha派** are transforming financial services, while AI applications in human resources, such as recruitment and resume matching, are also gaining traction [1][8]. - **Customer Service and Marketing**: The implementation of AI in customer service and marketing is progressing rapidly, with substantial market potential. The market space can be quantified by multiplying the number of employees by their salaries and the replacement rate [1][9]. - **Programming as a Key Area**: Programming is identified as the most mature field for AI application, with predictions from **OpenAI** and **Anthropic** indicating that most coding tasks will be completed by AI by the end of this year or next [1][10]. Companies to Watch - **Leading Companies**: In the general Agent technology space, companies such as **Kingsoft**, **Tencent**, and **Alibaba** are viewed favorably. For enterprise applications, **Kingdee**, **Hand Information**, and **Dingjie** are highlighted as key targets. In vertical applications, companies in programming, human resources, and banking are also recommended for ongoing observation [1][4][11]. - **Alibaba's Ecosystem**: Alibaba is noted for its comprehensive advantages in foundational model capabilities, hardware, and ecosystem, making related core targets worth monitoring [1][5][12]. Additional Important Points - **Development Path of Agent Technology**: The development path of Agent technology is segmented into Generative AI, Agentic AI, and Physical AI, with a focus on autonomy and human replacement. Key elements include memory, planning, tool invocation, and execution [1][6]. - **Investment Recommendations**: Continuous attention to the overall investment rhythm of computer companies is advised, as the industry still holds significant investment potential despite perceived profitability challenges [1][13]. This summary encapsulates the key points discussed in the conference call regarding the Agent technology landscape within the computer industry, highlighting market opportunities, company prospects, and strategic insights for investors.