Michael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working across industries that include O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.Investment recommendations are built upon the entirety of the investment ecosystem rather than considering a company independently.Analyst’s Disclosure:I/we have a beneficial l ...

Core Insights - Ciena Corporation reported adjusted earnings per share (EPS) of 42 cents for Q2 fiscal 2025, missing the Zacks Consensus Estimate by 19.2%, but up from 27 cents in the prior year [1][8] - Quarterly revenues increased by 23.6% year over year to $1.13 billion, exceeding the Zacks Consensus Estimate by 2.8% and reaching the high end of management's guidance [2][8] - The company achieved record direct cloud provider revenues of over $400 million, representing 38% of total revenues and an 85% year-over-year increase, driven by strong demand in AI infrastructure investments [3] Financial Performance - Adjusted gross margin fell to 40.2% due to tariffs and product mix affecting profitability [8] - Non-GAAP adjusted EBITDA expanded by 36% to $116.7 million [11] - Net cash flow from operating activities was $156.9 million, significantly up from $58.5 million in the prior year [12] Segment Performance - Networking Platforms revenues rose 28.1% year over year to $866.3 million, while Platform Software and Services revenues remained flat at $85.4 million [5] - Global Services revenues increased by 8.5% year over year to $146.2 million [6] - Non-telco customer revenues accounted for 54% of total revenues, with two customers contributing 23.9% of the top line [9] Regional Performance - Revenues in the Americas totaled $833.8 million, up 25.8% year over year, while Europe, the Middle East, and Africa generated $191.6 million, up 23% [6] Guidance and Outlook - For Q3 fiscal 2025, Ciena expects revenues between $1.13 billion and $1.21 billion, with adjusted gross margin in the low-40% range [13] - The company updated its full-year revenue growth outlook to approximately 14%, up from the previous estimate of 8-11% [14] - Adjusted operating expenses are projected to average $360-$370 million per quarter for the year [15]

You’d be forgiven for thinking NRG Energy (NYSE: NRG ) is just another energy generation company - but you’d be wrong. NRG has quietly pulled off a turnaround that resulted in a surprising growth story while making itsRick is a Wall Street Journal best-selling author with over 20 years of experience trading stocks and options. The most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News, cover his work. His passion is ...

Credo Technology Group (CRDO) Q4 2025 Earnings Call June 02, 2025 05:00 PM ET Company Participants Dan O'Neil - Vice President-Corporate Development & Investor RelationsBill Brennan - President, CEO & ChairDan Fleming - Chief Financial OfficerVivek Arya - Managing DirectorTore Svanberg - Managing DirectorThomas O'Malley - Director - Equity ResearchVijay Rakesh - Managing DirectorKarl Ackerman - Managing Director - Equity ResearchJoshua Buchalter - Director - Equity Research Conference Call Participants Quin ...

Financial Data and Key Metrics Changes - In Q4, the company reported revenue of $170 million, a 26% sequential increase and up 180% year over year [5][23] - For fiscal year 2025, total revenue reached $437 million, representing a growth of 126% year over year [6][22] - Non-GAAP gross margin for Q4 was 67.4%, and for fiscal year 2025, it was 65% [6][22] - Non-GAAP operating income in Q4 was $62.5 million, compared to $42.4 million in Q3, reflecting significant leverage from revenue growth [25] Business Line Data and Key Metrics Changes - The Active Electrical Cable (AEC) product line maintained a steep growth trajectory, with significant contributions from three hyperscalers, each contributing over 10% of revenue in Q4 [10][24] - The optical business achieved strong momentum, with revenue growth targets met, including a significant win for an 800 gig transceiver expected to deploy in fiscal 2026 [13][14] - The retimer business also showed robust results, driven by 50 gig and 100 gig per lane Ethernet solutions, with expectations for strong growth in fiscal 2026 [17][18] Market Data and Key Metrics Changes - The company anticipates increasing customer diversification across copper and optical connectivity for various applications, particularly in AI networks [10][21] - The demand for high-speed connectivity solutions is expected to continue growing among hyperscaler customers [21] Company Strategy and Development Direction - The company is focused on customer-driven innovation and has successfully capitalized on a predicted inflection point in demand for high-performance connectivity solutions [8][19] - The strategy includes a holistic innovation approach that integrates advanced technology, system-level solutions, and a robust software platform [9][10] - The company aims to capture significant opportunities in the global AI infrastructure investment wave, positioning itself for sustained growth [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained revenue growth driven by strong customer forecasts and new design wins [12][19] - The company expects revenue for Q1 of fiscal 2026 to be between $185 million and $195 million, with a year-over-year growth expectation exceeding 85% for the full year [27][28] - Management highlighted the importance of flexibility in navigating tariff risks and the evolving macroeconomic environment [56] Other Important Information - The company ended Q4 with cash and equivalents of $431.3 million, an increase of $52.1 million from Q3, indicating strong financial health [26] - CapEx for Q4 was $3.7 million, with expectations for CapEx to double in fiscal 2026 to support growth initiatives [22][82] Q&A Session Summary Question: Can you quantify the revenue contribution from the largest customers? - The largest customer accounted for 61% of revenue, with two others contributing 12% and 11% respectively, and diversification is expected to continue in fiscal 2026 [34][35] Question: What are the expectations for gross margin and EBIT margin? - Gross margin is expected to be around 65% for Q1, with EBIT margin expected to follow improvements in net margin [36][39] Question: Can you discuss the use cases for large customers, especially regarding AEC? - The main use cases include connecting servers with switches, with a significant focus on scale-out networks [44][45] Question: What is the competitive landscape for AEC products? - The competitive environment remains stable, with the company focused on delivering innovative solutions quickly to maintain leadership [88] Question: How is the company positioned for optical growth? - The company expects to double or exceed its optical revenue in fiscal 2026, with strong traction in 100 gig per lane designs [69][70] Question: Are there any supply chain bottlenecks? - The company has shown the ability to ramp production quickly, with silicon lead times being the longest, but overall supply chain management is strong [101][103]

Financial Data and Key Metrics Changes - In Q4, the company reported revenue of $170 million, a 26% sequential increase and up 180% year over year [4][22] - For fiscal year 2025, total revenue reached $437 million, representing a growth of 126% year over year [5][21] - Non-GAAP gross margin for Q4 was 67.4%, and for fiscal year 2025, it was 65% [5][21] - Non-GAAP operating income in Q4 was $62.5 million, compared to $42.4 million in Q3, reflecting significant leverage from revenue growth [24] Business Line Data and Key Metrics Changes - The Active Electrical Cable (AEC) product line maintained a steep growth trajectory, with significant contributions from three hyperscalers, each contributing over 10% of revenue [9][22] - The optical business achieved strong momentum, with revenue growth targets met and significant wins in 50 gig and 100 gig per lane optical DSPs [12][15] - The retimer business also delivered robust results, driven by 50 gig and 100 gig per lane Ethernet solutions [15] Market Data and Key Metrics Changes - The company noted increasing customer diversification across copper and optical connectivity for various applications, particularly in AI networks [8][20] - The demand for high-speed connectivity solutions is growing among hyperscaler customers, driven by the need for advanced AI services [20] Company Strategy and Development Direction - The company is focused on customer-driven innovation and has positioned itself as a leader in high-speed connectivity solutions, particularly in the AI landscape [6][18] - The strategy includes expanding the AEC market and enhancing optical connectivity solutions, with a commitment to energy efficiency and reliability [14][19] - The company anticipates significant growth opportunities in the optical market, particularly with the introduction of new products [14][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustained revenue growth, driven by increasing customer diversification and the anticipated ramp-up of new hyperscale customers [9][33] - The company expects revenue for Q1 of fiscal 2026 to be between $185 million and $195 million, indicating a 12% sequential growth at the midpoint [26] - For fiscal year 2026, the company projects revenue to exceed $800 million, with year-over-year growth exceeding 85% [27] Other Important Information - The company ended Q4 with cash and equivalents of $431.3 million, an increase of $52.1 million from Q3 [25] - Capital expenditures (CapEx) are expected to double in fiscal year 2026 to support growth initiatives [78] Q&A Session Summary Question: Can you quantify the contribution of the largest customers? - The largest customer accounted for 61% of revenue, with two others contributing 12% and 11% respectively [32] Question: What are the expectations for gross margin in the upcoming quarters? - Gross margin is expected to trend around 65% for Q1, with potential for further expansion as scale increases [34][36] Question: Can you elaborate on the use cases for large customers? - The primary use cases include connecting servers with switches, focusing on both front-end and back-end networks [42] Question: What is the competitive landscape for AEC products? - The competitive environment has not changed significantly, and the company aims to maintain its leadership by delivering innovative solutions quickly [84][86]

Group 1 - The company Junee Limited will change its name to SuperX AI Technology Limited and shift its business focus to becoming a one-stop AI infrastructure solutions provider, effective June 2, 2025 [1][3] - The new ticker symbol for the company will be "SUPX" following the name change [1] - The rebranding reflects a strategic transformation aimed at delivering end-to-end infrastructure for AI applications, including compute, model hosting, data pipelines, and system-level orchestration [2][3] Group 2 - SuperX aims to empower enterprises and developers with unified and scalable solutions necessary for building, deploying, and operating AI applications at scale [2] - The executive director of the company emphasized that AI infrastructure is seen as the foundation of future productivity, highlighting a commitment to integrated and reliable solutions [3] - Junee Limited, through its subsidiaries, aims to become a leading technology company focused on next-generation digital infrastructure solutions, integrating smart technology into its offerings [4]

Core Insights - HIVE Digital Technologies Ltd. has achieved a significant milestone by surpassing 10 Exahash per second (EH/s) in global Bitcoin mining hashrate, adding 1 EH/s each week for the last month [2][3] - The company is on track to meet its Phase 1 objective of 11.5 EH/s by the end of June 2025 and aims for a target of 25 EH/s by Q4 2025, with growth fully funded [3] - HIVE's subsidiary, Buzz HPC, has reached a $20 million annualized run-rate revenue in its GPU cloud business, one month ahead of schedule, reflecting strong operational momentum [4][5] Company Performance - HIVE's total operating hashrate is over 10 EH/s, with a global fleet efficiency of 20 Joules per Terahash [3] - The company is producing over 5 Bitcoin per day, with a consistent addition of approximately 1 EH/s of mining capacity weekly [6] - Buzz HPC has over 5,000 GPUs actively deployed, reinforcing HIVE's position in the GPU cloud infrastructure market [5][6] Executive Commentary - Frank Holmes, Co-Founder and Executive Chairman, highlighted the HPC growth exceeding expectations, with the GPU cloud business potentially valued at 10 to 20 times its annualized cash flows [6] - Aydin Kilic, President & CEO, expressed pride in the team's execution and the rapid scaling of Bitcoin mining capacity [6] Company Overview - HIVE Digital Technologies Ltd. is a leader in sustainable blockchain and AI infrastructure, operating in Canada, Sweden, and Paraguay [7] - The company was the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017 and continues to innovate while reducing its environmental footprint [7]

Over the past few weeks, market momentum has accelerated in an almost V-shaped way. But within that broader rally, a handful of sectors have pulled away from the pack entirely, outperforming the market with impressive consistency. Themes like battery tech, utilities, AI infrastructure, and especially cybersecurity have all shown remarkable strength.  CrowdStrike TodayCRWDCrowdStrike$436.38 -5.87 (-1.33%) 52-Week Range$200.81▼$455.59P/E Ratio855.57Price Target$403.56Add to WatchlistMany top-performing stock ...

Core Viewpoint - Analog Devices, Inc. (ADI) is expected to report strong second-quarter fiscal 2025 results, with projected revenues of $2.50 billion, reflecting a 15.9% increase year-over-year, and adjusted earnings per share of $1.68, indicating a 20.7% rise from the previous year [1][2]. Group 1: Financial Expectations - ADI anticipates revenues of $2.50 billion (+/- $100 million), aligning with the Zacks Consensus Estimate, which also stands at $2.50 billion [1]. - The consensus estimate for adjusted earnings per share is $1.69, with ADI projecting $1.68 (+/- 10 cents), showing a consistent outlook over the past 60 days [2]. Group 2: Performance Drivers - The second-quarter performance is likely to benefit from inventory normalization across direct and distribution channels, alongside improved bookings and lean inventory levels following the semiconductor industry's cyclical downturn [3]. - Recent U.S. tariff reductions on the Chinese market are expected to positively impact ADI's revenues, along with strong design wins in sectors such as industrial automation, healthcare, automotive, and communications [4]. - Secular growth trends in industrial automation, healthcare and surgical robotics, automotive, AI infrastructure, and high-end consumer devices are anticipated to drive ADI's top line [5]. Group 3: Challenges - Despite positive growth factors, macroeconomic challenges such as prolonged inflation and high interest rates may pose risks to ADI's performance in the upcoming quarter [5]. Group 4: Earnings Prediction Model - The current earnings prediction model indicates that ADI does not conclusively predict an earnings beat, with an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [6].