Q1 FY2026 Earnings November 25, 2025 Safe Harbor Non-GAAP Financial Measures and Other Key Performance Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, this presentation includes the following non-GAAP financial and other key performance measures: non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income per share (diluted), free cash flow, Annual Recurring Revenue (or A ...

YOU ARE HERE TO TELL US WHAT IS IMPACTING YOUR INVESTING APPROACH. YOU MISS YOUR THESIS -- THESIS. REBECCA: WE CAN DEBATE WHETHER WE ARE IN A BUBBLE OR NOT.I DEFINITELY THINK WE ARE, BUT WHAT IS MORE INTERESTING TO TALK ABOUT IS HOW WE AS EARLY-STAGE INVESTORS REACT AND HOW WE INVEST IN COMPANIES THAT WILL BE THE NEXT $5 TRILLION COMPANIES AND HOW WE EXECUTE ON THAT NO MATTER WHERE WE ARE IN THIS HYPE CYCLE. CAROLINE: THOSE WHO WOULD SAY WE ARE NOT IN A BUBBLE IS THAT A LOT OF THESE COMPANIES ARE PROFITABLE ...

Flatpay, which facilitates card payments for SMBs, has joined the ranks of European fintech unicorns — or startups valued at more than $1 billion — a milestone that has driven some of the region’s biggest exits. These include competitors like Adyen, a Dutch payment processing giant that remains far ahead in scale. However, Flatpay’s fresh funding could help it narrow the gap. Flatpay’s bet is that it can challenge larger players by charging small merchants a flat transaction rate to use its card terminals ...

Core Insights - The article discusses the investment positions held by analysts in various companies, indicating a bullish sentiment towards these stocks [1][2] Group 1: Analyst Positions - Analysts have a beneficial long position in shares of companies such as NBIS, CRWV, NVDA, META, AMZN, and GOOG, either through stock ownership, options, or other derivatives [1] - The article emphasizes that the opinions expressed are personal and not influenced by compensation from any company mentioned [1] Group 2: Performance and Recommendations - The article notes that past performance is not a guarantee of future results, highlighting the inherent uncertainty in investment outcomes [2] - It clarifies that no specific recommendations or advice are being provided regarding the suitability of investments for particular investors [2]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $42.9 million, representing a 57% year-over-year increase, driven by strong new customer acquisition and expanded deployments [7][21] - Annual recurring revenue (ARR) reached $117.2 million, reflecting a 25% year-over-year growth [11][25] - Adjusted EBITDA was positive at $5.1 million, compared to a loss of $3 million in the same quarter last year, resulting in an adjusted EBITDA margin of 12% [28][29] - Adjusted gross margin was 51% in Q3, down from 64% in the same period last year [27][29] Business Line Data and Key Metrics Changes - The company welcomed over 60 new customers in Q3, raising the year-end estimate for active subscriptions to between 8,000 and 8,100 [12][21] - The deployment of the new autonomous AI-powered bag screening solution, Expedite, gained traction with 12 new customers added in Q3, primarily in schools [13][19] - The company reported a sequential 8% increase in remaining performance obligation (RPO), which stood just shy of $300 million at the end of Q3 [12][25] Market Data and Key Metrics Changes - The company noted strong demand across various sectors, including education, healthcare, and sports, with significant contracts signed in these markets [16][17] - The largest customer contract in the company's history, involving more than 250 units, contributed approximately $3 million in revenue in Q3 [25][30] Company Strategy and Development Direction - The company is transitioning to a direct distribution model, which is expected to enhance recurring revenue and cash flow over time [10][23] - The management emphasized the importance of ARR growth and plans to add more units in 2026 than in 2025, with expectations for ARR growth to outpace total revenue growth [22][35] - A new strategic partnership with Plexus aims to expand production capacity and operational resiliency [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's market position and the ongoing transition to a direct fulfillment model, which simplifies the buying process for channel partners [45][46] - The company raised its 2025 revenue growth outlook to 37%-40%, up from previous guidance of 27%-30% [21][29] - For 2026, the company anticipates revenue of $160 million to $165 million, with ARR expected to grow by at least 20% year-over-year [34][35] Other Important Information - The company has made significant product updates, including new software versions aimed at improving performance and user experience [19][20] - The company screened over 3 billion visitors since the launch of Evolv Express, demonstrating the impact of its technology on community safety [13][14] Q&A Session Summary Question: Can you help me understand the revenue recognition for the large contract? - Management explained that the legacy distribution model results in more upfront revenue, but they expect normalization in revenue recognition as they transition to direct fulfillment [40][41] Question: What impact do you expect from the new strategic contract manufacturer agreement? - Management anticipates cost synergies and larger scale manufacturing capabilities from the partnership with Plexus, which will eventually include all product lines [42] Question: What is the attachment rate for Expedite with Express machines? - Management reported that 11 out of 12 new Expedite customers also acquired Express, indicating strong cross-selling success [43] Question: What percentage of bookings came from existing customers? - Over 50% of bookings came from existing customers, with significant expansions noted [47] Question: Are there promising new verticals for growth? - The company sees opportunities in various sectors, including sports, entertainment, education, and healthcare, while maintaining a consistent vertical mix [48]

Core Insights - CyberArk Software Ltd. reported better-than-expected quarterly results with expanding subscription revenue, indicating strong business fundamentals despite acquisition-related costs impacting free cash flow ahead of its merger with Palo Alto Networks [1] Financial Performance - CyberArk's revenue reached $342.8 million, operating profit was $64.8 million, and EPS was $1.20, surpassing estimates of $338.3 million, $54.3 million, and $1.04 respectively [2] - Subscription revenue increased by 60% year-over-year to $280.1 million, now accounting for 82% of total revenue, while total recurring revenue rose 46% year-over-year to $326.3 million, representing 95% of total revenue [3] Free Cash Flow - Free cash flow was reported at $42.4 million with a 12% margin, below estimates of $66.3 million and a 20% margin; adjusted for acquisition-related costs, FCF improved to $51.3 million, or a 15% margin [4] Annual Recurring Revenue (ARR) - Total annual recurring revenue (ARR) was $1.341 billion, up 45% year-over-year, exceeding expectations of $1.334 billion; total net new ARR (NNARR) was $67 million, a 16% increase year-over-year [5] - Subscription ARR stood at $1.16 billion, representing 86% of total ARR, up 58% year-over-year, while subscription NNARR reached $70 million, up 21% year-over-year [6] Updated Forecasts - D.A. Davidson updated its 2025 and 2026 estimates, projecting 2025 EPS of $4.48 and revenue of $1.36 billion, increasing to $5.56 EPS and $1.58 billion in revenue for 2026 [7]

Core Insights - VitalHub Corp. reported a significant increase in Annual Recurring Revenue (ARR), which rose 75% year-over-year to $93.7 million, and total revenue increased 94% year-over-year to $32.0 million [1][4][9] - The company achieved an adjusted EBITDA of $7.2 million, reflecting a 58% year-over-year increase [1][9] Financial Performance - For the third quarter of 2025, ARR was $93,693,789, up from $79,589,081 in the previous quarter, marking an 18% increase [4] - Total revenue for Q3 2025 was $32,044,030, compared to $16,509,135 in Q3 2024, representing a 94% increase [6][7] - Gross profit as a percentage of revenue remained stable at 81% for both Q3 2025 and Q3 2024 [7][8] - Net income before income taxes for Q3 2025 was $1,586,383, down 33% from $2,360,258 in the prior year [7][9] Growth Drivers - The company reported organic growth of $1,711,335 or 2% in Q3 2025, while acquisition growth contributed $12,000,000 or 15% [7] - For the nine months ended September 30, 2025, total revenue was $77,576,544, a 62% increase from $48,003,531 in the same period of 2024 [6][9] - Cash on hand as of September 30, 2025, was $123,684,500, significantly up from $56,574,904 at the end of 2024 [9] Strategic Focus - The CEO emphasized the importance of integrating recent acquisitions and optimizing commercial and operational alignment [3] - VitalHub is pursuing both organic growth opportunities and an aggressive M&A strategy to enhance its market position [10]

Core Insights - CrowdStrike is rapidly expanding through strategic partnerships, with approximately 60% of new business in Q2 fiscal 2026 coming from partners, highlighting the importance of these alliances for growth [1][11] Strategic Partnerships - In September 2025, CrowdStrike expanded its partnership with NVIDIA, introducing Charlotte AI AgentWorks integrated with NVIDIA's Nemotron models, aiming to enhance security teams' capabilities in managing AI agents [2] - Collaborations with KPMG, Salesforce, and Meta were also announced. KPMG will utilize CrowdStrike's Falcon Next-Gen SIEM to modernize security systems for clients, while Salesforce integration enhances visibility and protection for AI-powered business tools [3][4] - The partnership with Meta aims to create CyberSOCEval, an open benchmark for evaluating AI model performance in real-world scenarios [4] Growth Projections - These strategic partnerships are expected to support CrowdStrike's long-term goal of achieving $10 billion in annual recurring revenue (ARR) by fiscal 2031, with Zacks Consensus Estimates indicating a year-over-year revenue increase of around 21% for fiscal 2026 and 2027 [5] Competitive Landscape - Key competitors include Palo Alto Networks and Okta, both focusing on acquisitions for platform expansion and AI innovation. Palo Alto Networks is pursuing the acquisition of CyberArk to enhance its identity-driven threat protection capabilities [6][7] - Okta completed its acquisition of Axiom Security to bolster its privileged access management tools [8] Financial Performance - CrowdStrike's shares have increased by 63.6% year-to-date, outperforming the security industry's growth of 23.8% [9] - The company trades at a forward price-to-sales ratio of 23.25X, significantly higher than the industry's average of 13.23X [13] - Zacks Consensus Estimates for fiscal 2026 earnings imply a year-over-year decline of 6.6%, while fiscal 2027 earnings are expected to grow by 29.3% [16]

Core Insights - SiteMinder Ltd (ASX: SDR) is positioned as a technology company that addresses the inefficiencies in hotel management systems, particularly in booking coordination [1][2] - The company serves over 50,000 properties, including boutique hotels and various unique accommodations, managing a total of 2.4 million rooms [3] - SiteMinder's platform enhances hotel operations by centralizing reservations and providing valuable data insights, which contribute to increased Average Revenue Per User (ARPU) [5][6] Business Model - SiteMinder's software creates a network effect by attracting both hotels and online travel agencies, increasing its value with each new participant [4] - The platform integrates distribution, payments, and insights, allowing for upselling opportunities and improving customer retention [5][6] Financial Metrics - Key performance indicators include Annual Recurring Revenue (ARR), properties managed, monthly ARPU, churn rates, and Customer Acquisition Cost (CAC) [7][9] - For FY25, SiteMinder reported 50.1 thousand properties, a monthly ARPU of $405, and a monthly revenue churn rate of 1.0% [10] - The company recorded a loss after tax of $24 million on revenue of $224 million for FY25, with a market capitalization of over $2 billion [11] Growth Potential - SiteMinder has achieved a three-year compound annual growth rate of 23.7% in revenue, with a growth rate of 17.7% in FY25 [16] - The company anticipates accelerating revenue growth towards 30% in the medium term while maintaining profitability discipline [16] Investment Considerations - SiteMinder shares trade at a price-to-sales multiple of around 9x, which is considered high but lower than some of its ASX tech peers [12] - Investors can gain exposure to SiteMinder through ETFs, such as the Betashares Australian Technology ETF (ASX: ATEC) [17]

Core Insights - CrowdStrike Holdings Inc. projected a net new annual recurring revenue (ARR) growth of at least 20% by 2027, which led to a surge in CRWD stock following the announcement at the company's Investor Day presentation [3][4] - This forecast contrasts with the cautious guidance provided in the August earnings report, where the ARR growth was at 17% for the current fiscal year [4] - The announcement coincided with a 25-basis-point interest rate cut by the Federal Reserve, which positively impacted the overall market [5] ARR and Growth Projections - CrowdStrike's ARR for FY26 second quarter was reported at $4.66 billion, with expectations to reach approximately $5 billion this year [9] - The company aims for ARR to hit $10 billion by 2031 and $20 billion by 2036, alongside the 20% growth target by 2027 [9] Strategic Initiatives - To achieve its growth targets, CrowdStrike plans to pursue strategic acquisitions, including the recent announcement to acquire Pangea, an AI security platform, and a partnership with Salesforce [10] - The modular Falcon platform is highlighted as one of the most advanced security platforms in the industry, allowing customers to customize their services [10] Market Performance and Analyst Sentiment - Following the announcement, CRWD stock experienced a nearly 8% increase, reaching over $500 per share for the first time since July [11] - Despite a slight pullback of about 3.5% in the following days, technical indicators suggest potential for a bullish reversal [11] - Analysts have raised their price targets for CRWD stock, with a 12-month forecast average of $483.79, indicating a 2.26% upside [13][14]