锦秋基金面向Agent的简历、BP 优先投递渠道已上线。 投递渠道: https://jinqiu.awiki.ai/ 投递说明：Agent 需要先阅读页面的 md 内容，理解通讯协议，添加相应 skills，才能完成投 递。 新的工作方式已经出现。 越来越多优秀的人， 不再只是"使用AI"， 而是： 与AI一起思考 让Agent推进任务 用workflow编排工作 用自动化完成执行 他们不只是会用AI。 他们的工作方式本身就是AI-native。 同样， 越来越多新的创业项目， 也不只是"做一个AI功能"， 而是从第一天起， 就按照Agent时代的逻辑 去构建产品、团队与组织。 但今天的大多数招聘入口、BP入口， 仍然是按旧世界设计的。 锦秋基金是一家 AI-native 投资机构。 我们常为首轮投资人，投资额度通常为 100 万至 2500 万美元。 它默认你提交的是一份普通简历， 默认你发来的是一份标准BP， 却很难识别： 你是如何与Agent协作的 你的工作流是如何运行的 你的项目是不是从第一天就是AI-native的 所以，锦秋基金上线了一个新的投递入口： Agent Channel 一个面向AI- ...

Core Viewpoint - Better Home & Finance Holding Company (NASDAQ: BETR) is set to announce its fourth quarter and full year 2025 results on March 13, 2026, before market open [1] Group 1 - The announcement will be followed by a conference call and webcast to discuss the results, scheduled for the same day at 8:30 AM E.T. [1] - Registration details for the conference call and live webcast will be available on the company's investor relations website [1]

Every software company better get AI-native fast.And it won't be easy. ...

Core Viewpoint - NVIDIA, along with major industry players, has committed to developing the next generation of wireless networks based on AI-native, open, secure, and trustworthy platforms, aiming to establish a robust 6G infrastructure that enhances global connectivity and innovation [1][10][11]. Group 1: 6G Infrastructure and AI Integration - The initiative aims to ensure that 6G infrastructure is open, intelligent, resilient, and accelerates innovation while safeguarding global trust [2]. - 6G networks will serve as the foundation for physical AI, enabling billions of autonomous machines, vehicles, sensors, and robots, which will significantly increase demands for security and trust [3]. - NVIDIA is leading efforts to create AI-native, software-defined wireless platforms that integrate AI across the radio access network (RAN), edge, and core, facilitating secure communications and decision-making [4]. Group 2: Industry Collaboration and Vision - The collaboration includes leading companies such as Booz Allen, BT Group, Cisco, Deutsche Telekom, Ericsson, MITRE, Nokia, OCUDU Ecosystem Foundation, ODC, SK Telecom, SoftBank Corp., and T-Mobile, all working towards building open and trusted software-defined wireless platforms [10][11]. - The commitment is supported by ongoing collaborations with governments and industry partners across various regions, including Europe, Japan, Korea, the U.K., and the U.S., to advance AI-native 6G innovation [12]. - NVIDIA's AI-RAN Alliance has over 130 participating companies focused on driving AI-RAN innovation, showcasing a unified commitment to shaping secure and intelligent global connectivity [12]. Group 3: Statements from Industry Leaders - Executives from various companies emphasized the importance of connectivity as the backbone of economic growth and the need for an open and trustworthy 6G infrastructure to unlock new capabilities [6]. - The collaboration is seen as pivotal for the U.S. to maintain leadership in 6G technology, which is critical for economic prosperity and national security [6]. - Industry leaders highlighted that AI-native 6G will transform wireless networks into secure, software-defined infrastructures that support the next wave of global innovation [6].

Financial Data and Key Metrics Changes - Revenue for 2025 grew 28% year-over-year to $440 million, with Adjusted EBITDA reaching $196 million, representing a 44% margin [4][10] - Net income for the full year was $103 million, a significant improvement from a loss in 2024 [11] - In Q4, revenue was $126 million, up 29% year-over-year, with Adjusted EBITDA of $56 million, also a 44% margin [11][12] - Operating expenses as a percentage of revenue decreased to 50% from 54% in the prior year, supporting an operating income of $31 million or 25% of revenue for Q4 [12] Business Line Data and Key Metrics Changes - The core business remained strong, with significant enhancements in product offerings, including the global expansion of features like Right Now and A-List [4][5] - Subscription and add-on offerings contributed to revenue growth, with direct revenue at $103 million and indirect revenue at $23 million for Q4 [11] Market Data and Key Metrics Changes - Average Monthly Active Users (MAU) for 2025 was 15 million, with approximately 1.26 million average paying users and an Average Revenue Per User (ARPU) of $24.25 [14][15] - The advertising business grew by 37% in the previous year, indicating strong demand in international markets [11][35] Company Strategy and Development Direction - The company aims to enhance premium AI experiences through the EDGE initiative, focusing on power users and refining the user experience [7][8] - Plans for 2026 include durable core growth, operational rigor, and deliberate investment for long-term upside [7][8] - The company is committed to maintaining a robust free user experience while gradually introducing more premium features [56][57] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the acceptance of recent pricing changes, indicating no significant impact on user conversion [20] - The outlook for 2026 anticipates revenue exceeding $528 million and Adjusted EBITDA over $217 million, with a focus on long-term sustainable growth [15][16] - Management emphasized the importance of AI integration in operations, with AI agents contributing significantly to code production and productivity improvements [5][77] Other Important Information - The company announced a three-year, $400 million expansion of its share repurchase authorization, reinforcing confidence in its strategy [13] - The board is actively working on governance improvements and has added new directors to strengthen its independence [25][27] Q&A Session Summary Question: Insights on retention and churn impacts from pricing actions - Management reported positive reception to pricing changes, with no expected significant impact on conversion rates [20] Question: Governance situation following major shareholder changes - Management confirmed alignment on keeping Grindr a public company and highlighted the addition of new directors to strengthen governance [25][27] Question: Contributors to the 20% revenue growth guidance - Revenue growth is expected from product enhancements and the recent pricing changes, along with growth in the advertising business [35] Question: Value derived from the EDGE tier - Early subscribers highlighted features like A-List and Discover as significant enhancements to their experience [40][42] Question: Woodwork's role in monetization - Woodwork is viewed as a startup within Grindr, with potential for future growth but not included in the 2026 revenue guidance [66] Question: MAU growth considerations - Management noted aggressive removal of unwanted accounts impacted MAU growth, but underlying growth remains strong [70][72]

Financial Data and Key Metrics Changes - In Q4, the company generated over $1.4 billion in revenues, a year-over-year increase of 12.8% on a reported basis, exceeding the high end of the Q4 revenue outlook [24] - Organic constant currency revenues grew 5.6% compared to Q4 of 2024 [24] - For the full year 2025, revenues were $5.46 billion, up 15.4% on a reported basis year-over-year, with organic constant currency revenues up 4.9% [32] Business Line Data and Key Metrics Changes - Five out of six industry verticals posted year-over-year growth in Q4, with Financial Services growing 19.8% year-over-year and Software & Hi-Tech growing 18.1% [25] - Emerging Verticals delivered strong year-over-year growth of 19.1%, primarily driven by energy and telecommunications [26] - Life Sciences & Healthcare increased 2% year-over-year, while Business Information & Media delivered flat revenue performance [25][26] Market Data and Key Metrics Changes - The Americas, representing 58% of Q4 revenues, grew 7.6% year-over-year, while EMEA, comprising 40% of revenues, grew 21.8% year-over-year [26] - APAC, making up 2% of revenues, grew 0.6% year-over-year but declined 4.3% in organic constant currency [26] Company Strategy and Development Direction - The company is focusing on AI-native services, expecting to scale these revenues to over $600 million in 2026 [9] - A shift towards building AI-native business offerings and consultancies is underway, with an emphasis on delivering AI strategy and execution to clients [7] - The company aims to enhance its vertical industry expertise and is prioritizing investments in business development and industry capabilities [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term strategy and growth trajectory, supported by healthy client sentiment and a solid pipeline [34] - There is an expectation of a mid-single-digit decline in revenues from NEORIS's largest client, impacting overall growth rates [35] - The company anticipates a continued shift in spending towards scaled AI deployment, with larger programs driving a more mature procurement process [15] Other Important Information - The company received several key leadership distinctions in 2025, including recognition as a leader in generative AI consulting and implementation services by Gartner [21][22] - The company ended Q4 with approximately $1.3 billion in cash and cash equivalents, and cash flow from operations for Q4 was $283 million [30] Q&A Session Summary Question: Can you provide insights on the first quarter guidance and visibility on larger deals? - Management noted that NEORIS's largest customer is expected to ramp down business between Q4 and Q1, leading to a mid-single-digit decline [44] Question: Are there investments needed to bolster vertical industry expertise? - Management confirmed that the current guidance reflects planned investments in business development and industry capabilities [48] Question: Can you reconcile the expectation of faster organic growth in 2026 with the current guidance? - Management indicated that the decline from NEORIS's largest client would negatively impact growth by approximately 100 basis points [51] Question: How are elongated sales cycles impacting the full-year guide? - Management clarified that while decision-making is slower, it is expected to lead to larger programs, which may delay project starts but ultimately provide greater value [56][58] Question: What is the impact of pricing on revenue growth? - Management reported a slight improvement in pricing, with low single-digit rate increases from clients in Europe and North America [73]

Financial Data and Key Metrics Changes - In Q4 2025, EPAM generated over $1.4 billion in revenues, a year-over-year increase of 12.8% on a reported basis, exceeding the high end of the Q4 revenue outlook [22] - Organic constant currency revenues grew 5.6% compared to Q4 2024, reflecting steady execution throughout 2025 [22] - For the full year 2025, revenues were $5.46 billion, up 15.4% on a reported basis year-over-year, with organic constant currency revenues up 4.9% [30] Business Line Data and Key Metrics Changes - In Q4, five out of six industry verticals posted year-over-year growth, with financial services growing 19.8% and software and high tech growing 18.1% [23] - Emerging verticals delivered strong year-over-year growth of 19.1%, primarily driven by energy and telecommunications [24] - Life sciences and healthcare increased 2% year-over-year, while business information and media delivered flat revenue performance [24] Market Data and Key Metrics Changes - The Americas, representing 58% of Q4 revenues, grew 7.6% year-over-year, while EMEA, comprising 40% of revenues, grew 21.8% [24] - APAC, making up 2% of revenues, grew 0.6% year-over-year but declined 4.3% in organic constant currency [24] - Revenues from top 20 clients grew 7.3% year-over-year, while revenues from clients outside the top 20 increased 15.5% [25] Company Strategy and Development Direction - The company is focusing on AI-native services, expecting to scale these revenues to over $600 million in 2026 [8] - EPAM is adapting its go-to-market approach for a more AI-centric environment, emphasizing industry and verticalized expertise [10] - The company aims to enhance its vertical industry expertise through investments in business development and industry capabilities [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term strategy and growth trajectory, supported by healthy client sentiment and a solid pipeline [32] - There is an expectation of stability in overall client budgets, with a continued shift towards strategic AI programs [32] - The decision-making process is expected to be slower at the start of 2026, but larger programs are anticipated to drive growth later in the year [55] Other Important Information - The company received several key leadership distinctions in 2025, including recognition as a leader in generative AI consulting and implementation services by Gartner [18] - EPAM's AI-native revenues are defined across two groupings: AI-native IP and AI-led transformation initiatives [8] - The company is committed to improving overall profitability and gross margin in 2026 [33] Q&A Session Summary Question: About the first quarter guidance and visibility on larger deals - Management noted that NEORIS's largest customer is expected to ramp down business between Q4 and Q1, impacting growth [41] - There is confidence in a well-built pipeline for the remaining quarters, particularly in European and Middle Eastern markets [43] Question: Reconciliation of 2026 organic growth expectations - The decline from NEORIS's largest client is expected to have a negative 100 basis point impact on growth, but the rest of the business remains strong [49] Question: Impact of elongated sales cycles and client indecision - The decision-making process is slower due to larger AI transformation programs, but this is expected to lead to larger project starts later in the year [55] Question: Expectations around gross margin and free cash flow - Management expects to operate within an 80%-90% conversion range for free cash flow and anticipates improvements in gross margin due to better execution in expanding geographies [59]

Core Insights - Tuya Smart hosted "Tuya Developer Day" at CES 2026, focusing on the theme "Accelerating the Physical AI Era Together," gathering leaders from top tech companies to discuss AI advancements [1] Leadership Dialogue - Alex Yang, COO and CFO of Tuya, discussed the transition of AI from concepts to large-scale applications with representatives from Google Cloud and AWS, emphasizing insights on AI-native devices [2] - Praveen Rao from Google Cloud highlighted the evolution of multimodal capabilities in AI systems, indicating a shift from virtual applications to real-world integration, aiming for proactive AI services [3] - Danny Smith from AWS noted the development of enterprise-scale agentic AI with Tuya, which can process multidimensional data and make optimal decisions rapidly, enhancing business outcomes [3] Panel Discussion - Chuck Sabin from Bluetooth SIG emphasized the importance of connectivity as a driver of innovation, collaborating with Tuya to enhance interoperability across devices [4] - Jeff Platon from the Wi-Fi Alliance discussed how AI is transforming connectivity experiences, ensuring Wi-Fi remains a secure foundation for intelligent applications [4] - Jon Harros from the Connectivity Standards Alliance stressed the need for open standards and collaboration to foster secure, interoperable AI solutions, with Tuya playing a key role [4] - Colin Cureton from Silicon Labs pointed out the challenges of fragmentation in deploying AI-native systems, advocating for partnerships to create robust connectivity platforms [4] Keynote Presentations - Alex Yang presented on how AI is redefining life, focusing on creating intuitive experiences that integrate smart devices and services to enhance daily living [5] - Joe Sun, CEO of Robopoet, discussed emotional companion robots for Gen-Z, highlighting their ability to form deeper emotional connections through Tuya's technology [5] - Olivier Garreau from Wisdom Oasis AI emphasized AI's role in enhancing parent-infant interactions, showcasing Tuya's technology in understanding subtle needs [5] - The event showcased breakthroughs in AI technology, including multimodal perception and emotional companionship, with a commitment to advancing Physical AI through collaboration [5]

Core Insights - Both Skillsoft (SKIL) and Futu Holdings (FUTU) are technology-driven companies targeting niche growth markets, appealing to growth-focused investors [1] Group 1: Skillsoft (SKIL) - In Q3 fiscal 2026, SKIL experienced a 6% year-over-year decline in revenue, primarily due to an 18% drop in the Global Knowledge (GK) segment, which contributed nearly 22% to the top line [2][10] - The GK segment incurred a non-cash goodwill impairment loss of $20.8 million, leading to an adjusted net loss of $4.9 million, prompting management to consider strategic alternatives for this segment [3][6] - The Talent Development Solutions (TDS) segment saw a 2% year-over-year decline, but the company is optimistic about its AI-native roadmap, having signed its first four large enterprise customers [4] - SKIL's adjusted net income improved significantly, with an 83% sequential and 27% year-over-year growth, although the adjusted EBITDA margin decreased by 30 basis points sequentially and 160 basis points year-over-year [5] - Management's focus is shifting towards the digital subscription business, as indicated by the lack of revenue and adjusted EBITDA guidance for the GK segment [6] Group 2: Futu Holdings (FUTU) - In Q3 2025, FUTU reported an impressive 86.3% year-over-year revenue growth, driven by a 90.6% increase in brokerage commission and handling charge income, and a 79.2% rise in interest income [7][10] - The company achieved a 42.6% year-over-year growth in funded accounts and a 30.8% increase in brokerage accounts, with a total user growth of 16.8% year-over-year [8] - FUTU's client acquisition strategy has been successful, particularly in Hong Kong, contributing to a 79% year-over-year increase in total client assets and a 105% rise in trading volume [9] - The company is also experiencing significant growth in crypto trading, with a 161% sequential increase in trading volume and a 90% sequential surge in crypto assets [11] Group 3: Financial Estimates and Valuation - The Zacks Consensus Estimate for SKIL indicates year-over-year declines of 3.6% in sales and 3.7% in EPS for fiscal 2026, with one estimate increasing over the past 60 days [12] - In contrast, the Zacks Consensus Estimate for FUTU shows year-over-year surges of 60.2% in sales and 90.2% in EPS for 2025, with two estimates moving upward in the past 60 days [13] - SKIL is trading at a forward price-to-earnings ratio of 1.56, significantly lower than its 3-month median of 3.75, while FUTU's ratio is 15.46, below its 3-month median of 17.45, indicating that SKIL appears undervalued compared to FUTU [15] Group 4: Overall Verdict - Both SKIL and FUTU are emerging tech stocks with growth potential, with SKIL undergoing a structural pivot towards a lean AI-native digital subscription model, while FUTU benefits from customer base expansion and crypto market opportunities [17] - SKIL is considered a more compelling opportunity for growth-oriented investors due to its lower valuation compared to FUTU, with SKIL holding a Zacks Rank 1 (Strong Buy) and FUTU a Zacks Rank 2 (Buy) [18]

Core Insights - Refly.AI has secured millions in seed funding, achieving a valuation close to ten million, with investments from prominent firms like Jinsha River Ventures and Hillhouse Capital [1] - The company positions itself as a more accessible Vibe Workflow product, aiming to simplify workflow processes for non-technical users [2][4] Product Features - Vibe Workflow aims to lower the cost of building workflows significantly, allowing users to create workflows with simple natural language commands [5][8] - Each node in the workflow is designed as an agent, equipped with 2-3 tools, enabling dynamic and stable workflow management [5][8] - Internal testing indicates that one Refly.AI node can replace approximately 20 nodes in traditional workflow tools like n8n [5] User Experience - The platform simplifies user interactions by allowing all operations to be expressed in natural language, eliminating the need for technical knowledge [8] - Users can expect to achieve around 80% accuracy in content generation, which is deemed acceptable for many creative tasks [10][11] - The target user base includes individuals with experience in traditional workflow tools who find them complex and are seeking simpler alternatives [13] Market Positioning - Refly.AI focuses on content generation rather than precise automation tasks, catering to users in self-media and content creation [10][12] - The company aims to expand its user base significantly, targeting various sectors such as education and finance, while emphasizing the importance of user-generated data for future growth [14][20] Long-term Vision - The ultimate goal is to create a platform that can automate complex tasks through user behavior data, potentially achieving a form of AGI [21][59] - The company envisions a future where users can interact with AI seamlessly in their daily lives, executing tasks with high accuracy and personalization [58][59]