Core Insights - The article emphasizes that Palantir Technologies has achieved unprecedented revenue growth, with Q4 2025 revenue reaching $1.4 billion, a 70% year-over-year increase, and a 19% sequential increase [24][66] - The company's U.S. business is highlighted as a key driver, contributing $1.1 billion in revenue, a 93% year-over-year increase, and accounting for 77% of total revenue [11][66] - CEO Alexander Karp asserts that focusing on technology systems that create value is essential for survival in the industry, dismissing the trend of superficial AI hype [3][18] Financial Performance - Q4 2025 adjusted operating income was $798 million, representing a 57% margin, exceeding prior guidance by 500 basis points [66] - The total contract value (TCV) bookings for Q4 reached $4.3 billion, a 138% year-over-year increase, marking the highest quarter ever for TCV [70] - The company reported a net dollar retention rate of 139%, indicating strong customer expansion and retention [24] Business Segments - The U.S. commercial business grew 137% year-over-year and 28% sequentially, reaching $507 million in revenue for Q4 [73] - The U.S. government business also saw significant growth, with revenue increasing 66% year-over-year to $570 million in Q4 [78] - International commercial revenue grew 8% year-over-year to $171 million in Q4, but overall international growth remains limited compared to the U.S. market [76] Strategic Focus - The company is prioritizing the U.S. market due to strong domestic demand and is cautious about international expansion, citing technological constraints [25] - Palantir's strategy involves focusing on large-scale initial contracts, reflecting a shift in customer purchasing behavior towards significant AI deployments [25][74] - The company aims to transform clients into AI-native enterprises, enhancing their operational capabilities through its software platforms [41][43] Future Outlook - For Q1 2026, the company expects revenue between $1.532 billion and $1.536 billion, with full-year 2026 revenue guidance set between $7.182 billion and $7.198 billion, representing a 61% year-over-year growth [22][68] - The U.S. commercial revenue is projected to exceed $3.144 billion in 2026, with a growth rate of at least 115% [22] - The company anticipates continued strong demand for its AI solutions, particularly in the U.S. market, as it seeks to leverage its unique software capabilities [48][66]

Financial Data and Key Metrics Changes - In Q4 2025, overall revenue surged 70% year-over-year, marking the highest growth rate as a public company [4] - The Rule of 40 score reached 127, up 46 points year-over-year and 13 points quarter-over-quarter [4][17] - Full-year 2025 revenue grew 56% year-over-year, with guidance for full-year 2026 revenue at $7.190 billion, representing 61% growth year-over-year [17][29] - Adjusted operating income for Q4 was $798 million, representing a 57% margin, exceeding prior guidance by 500 basis points [18][26] - Full-year adjusted free cash flow was $2.3 billion, representing a 51% margin and 82% growth year-over-year [18] Business Line Data and Key Metrics Changes - U.S. commercial business grew 137% year-over-year and 28% sequentially, while U.S. government business grew 66% year-over-year and 17% sequentially [4][18] - Fourth quarter commercial revenue grew 82% year-over-year to $677 million, with full-year commercial revenue growing 60% year-over-year to $2.073 billion [21] - Fourth quarter government revenue grew 60% year-over-year to $730 million, with full-year government revenue growing 53% year-over-year to $2.402 billion [23] Market Data and Key Metrics Changes - U.S. revenue in Q4 grew 93% year-over-year to $1.076 billion, with full-year U.S. revenue growing 75% year-over-year to $3.320 billion [19] - International commercial revenue grew 8% year-over-year in Q4 to $171 million, while full-year international commercial revenue grew 2% year-over-year to $608 million [22] - Fourth quarter international government revenue grew 43% year-over-year to $160 million, with full-year international government revenue growing 47% year-over-year to $547 million [24] Company Strategy and Development Direction - The company focuses on delivering real-world value through AI, positioning itself as a leader in enterprise software that maximally leverages AI models [5][10] - The strategy includes moving customers from AI adopters to AI-native enterprises, emphasizing the importance of speed to production and transformational scale [8][10] - The company is committed to investing in product development and elite technical talent while maintaining GAAP profitability [26][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 with strong momentum, highlighting the convergence of two decades of development into current success [9] - The management noted that the demand for advanced software solutions is growing, particularly in the U.S. government sector, driven by global threats and budgetary pressures [9][41] - There is a recognition of the challenges in international markets, particularly in Europe, where adoption of advanced products is lagging [41][42] Other Important Information - The company closed its highest-ever quarter of TCV bookings at $4.3 billion, up 138% year-over-year [19][24] - Customer count grew 34% year-over-year to 954 customers, with revenue from the top 20 customers increasing 45% year-over-year to $94 million per customer [20][24] - The company ended Q4 with $11.2 billion in total remaining deal value, an increase of 105% year-over-year [25] Q&A Session Summary Question: How is the company thinking about its international business and potential reacceleration? - Management indicated that the challenge lies in the ability of allies to recognize the need for advanced products, with a focus on the U.S. market due to high demand [41][42] Question: Has there been a change in corporate hesitancy to implement AI? - Management noted that there is a shift towards customers recognizing the value of AI, with more serious inquiries and a willingness to engage in larger projects [47][51] Question: Is there potential for developing additional operational systems like ShipOS? - Management confirmed that there is interest in expanding the operational systems to other military applications, indicating a broad scope for future developments [58]

Financial Data and Key Metrics Changes - In Q4 2025, overall revenue surged 70% year-over-year, marking the highest growth rate as a public company [3] - The Rule of 40 score reached 127, up 46 points year-over-year and 13 points quarter-over-quarter [3][17] - Full year 2025 revenue grew 56% year-over-year to $4.475 billion, with Q4 U.S. revenue growing 93% year-over-year to $1.076 billion [18][19] - Adjusted operating income for Q4 was $798 million, representing a 57% margin, exceeding prior guidance by 500 basis points [18][26] - Full year adjusted free cash flow was $2.3 billion, representing a 51% margin and 82% growth year-over-year [18][29] Business Line Data and Key Metrics Changes - U.S. commercial business grew 137% year-over-year and 28% sequentially, while U.S. government business grew 66% year-over-year and 17% sequentially [18][24] - Fourth quarter commercial revenue grew 82% year-over-year to $677 million, with full year commercial revenue growing 60% year-over-year to $2.073 billion [21] - Fourth quarter government revenue grew 60% year-over-year to $730 million, with full year government revenue growing 53% year-over-year to $2.402 billion [23][24] Market Data and Key Metrics Changes - The U.S. business now accounts for 77% of total revenue, up 93% year-over-year [3] - Customer count grew 34% year-over-year to 954 customers, with trailing 12-month revenue from top 20 customers increasing 45% year-over-year to $94 million per customer [19][20] - International commercial revenue grew 2% year-over-year to $608 million, while international government revenue grew 47% year-over-year to $547 million [22][24] Company Strategy and Development Direction - The company focuses on leveraging AI to transform customer operations, moving them from AI adopters to AI-native enterprises [4][7] - Palantir aims to deliver real-world value by maximizing the use of AI models in production, distinguishing itself from competitors [4][5] - The company is committed to investing in product development and elite technical talent while maintaining GAAP profitability [26][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 with strong momentum, highlighting the convergence of two decades of development into current success [9] - The company anticipates continued demand for AI solutions, particularly in the U.S. government sector, driven by global threats and budgetary pressures [9][41] - Management acknowledged challenges in international markets, particularly in Europe, where adoption of advanced products is slower [41][42] Other Important Information - The company closed its highest-ever quarter of TCV bookings at $4.3 billion, up 138% year-over-year [19][24] - Adjusted gross margin for Q4 was 86%, with adjusted expenses increasing 34% year-over-year due to investments in AIP and technical hiring [26][27] - The company ended Q4 with $11.2 billion in total remaining deal value, an increase of 105% year-over-year [25] Q&A Session Summary Question: How is the company thinking about its international business and potential reacceleration? - Management noted that while there is significant demand in the U.S., challenges exist in international markets due to the need for advanced products and the purchasing structures of allied countries [41][42] Question: Is there a change in customer hesitancy towards AI implementation? - Management observed a shift in customer conversations, with more clients recognizing the effectiveness of Palantir's solutions and seeking to accelerate implementation [47][51] Question: Are there opportunities for new operational systems in defense? - Management confirmed ongoing discussions about expanding capabilities beyond current offerings, including potential applications in various military systems [58][59]

Financial Data and Key Metrics Changes - In Q4 2025, overall revenue surged 70% year-over-year, marking the highest growth rate as a public company, with U.S. business revenue growing 93% year-over-year [3][17] - The Rule of 40 score reached 127, up 46 points year-over-year and 13 points quarter-over-quarter, indicating strong growth and profitability [3][28] - Full year 2025 revenue grew 56% year-over-year to $4.475 billion, with a guidance for 2026 revenue of $7.190 billion, representing 61% growth year-over-year [17][30] Business Line Data and Key Metrics Changes - U.S. commercial business grew 137% year-over-year and 28% sequentially, while U.S. government business grew 66% year-over-year and 17% sequentially [18][24] - Fourth quarter commercial revenue grew 82% year-over-year to $677 million, with full year commercial revenue growing 60% year-over-year to $2.073 billion [20][21] - Fourth quarter government revenue grew 60% year-over-year to $730 million, with full year government revenue growing 53% year-over-year to $2.402 billion [23][24] Market Data and Key Metrics Changes - The U.S. market accounted for 77% of total revenue, with significant growth driven by AI adoption [3][4] - International commercial revenue grew 8% year-over-year, while international government revenue grew 43% year-over-year [22][24] - Customer count increased by 34% year-over-year to 954 customers, with trailing 12-month revenue from top 20 customers increasing 45% year-over-year to $94 million per customer [19][24] Company Strategy and Development Direction - The company focuses on leveraging AI to transform customer operations, moving them from AI adopters to AI-native enterprises [4][5] - Palantir aims to maintain its unique position in the market by delivering real-world value through its software, emphasizing the importance of ontology and AIFD [4][10] - The company is committed to investing in product development and elite technical talent to sustain growth and profitability [26][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in entering 2026 with strong momentum, highlighting the convergence of two decades of development into current success [9][30] - The company acknowledges challenges in international markets but emphasizes the strong demand and unique position in the U.S. [40][41] - Management noted that the AI revolution is creating significant opportunities for growth, particularly in defense and commercial sectors [49][50] Other Important Information - The company achieved a milestone with U.S. business revenue surpassing $1 billion for the first time [17] - Adjusted operating income for Q4 was $798 million, representing a 57% margin, with full year adjusted operating income of $2.3 billion [18][26] - The company ended the quarter with $11.2 billion in total remaining deal value, reflecting a 105% year-over-year increase [25] Q&A Session Summary Question: How is the company thinking about its international business and potential reacceleration? - Management indicated that while there is significant demand in the U.S., challenges exist in international markets due to differing purchasing structures and readiness to adopt advanced products [39][40] Question: Has there been a change in customer hesitancy towards AI implementation? - Management noted a shift in customer conversations, with more clients now recognizing the effectiveness of their solutions and seeking to accelerate implementation [43][45] Question: Is there an opportunity for new operational systems in defense? - Management confirmed ongoing discussions about expanding operational systems beyond current applications, indicating a strong interest in integrating solutions across various military needs [49][50]

Q4 Business Update ©2026 Palanr Technologies Inc. 2025 Disclaimer Safe Harbor This presentaon contains "forward-looking" statements within the meaning of the federal securies laws, and these statements involve substanal risks and uncertaines. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding our financial outlook, product development, distribuon, and pricing, expected benefits of and applicaons for our soware platform ...

Performance Summary - Apis Flagship Fund achieved a net gain of 10.0% in Q4 2025 and a total annual gain of 55.1%, outperforming the MSCI ACWI benchmark by approximately 7.0% in Q4 and 33.0% for the year [1] - Long positions contributed 11.9% gross to the fund's performance, while short positions added 0.8% gross, with a net long position of around 68% as of December [1] - The fund's performance was broad-based, with Technology and Healthcare sectors leading returns, and small-cap stocks showing improved performance relative to large caps [1] Investment Focus - The firm emphasized a bottom-up stock selection strategy and structural exposures to niche opportunities in healthcare, semiconductors, and industrials as key drivers for future returns [1] - Non-U.S. markets were highlighted as persistently attractive for potential returns [1] C3.ai Analysis - C3.ai (NYSE:AI) is an enterprise software company focused on AI applications for industrial and government use [2] - The stock experienced a one-month return of -21.40%, trading between $10.90 and $35.98 over the past 52 weeks, with a market capitalization of approximately $1.55 billion as of January 30, 2026 [2] - C3.ai was a top contributor on the short side for the fund, indicating strong performance despite rising equity markets [3] Hedge Fund Popularity - C3.ai was held by 21 hedge fund portfolios at the end of Q3 2025, a decrease from 30 in the previous quarter, indicating a decline in popularity among hedge funds [4] - The company is not listed among the 30 most popular stocks among hedge funds, suggesting a cautious sentiment towards its investment potential [4]

Core Viewpoint - Microsoft shares experienced a significant decline of over 12% following disappointing quarterly earnings, resulting in a loss of $357 billion in market value, marking the worst day since the 2020 stock market crash [1][2] Financial Performance - Microsoft is now in a bear market, down nearly 21% from its all-time high, raising questions among investors about whether this decline presents a buying opportunity or if it is prudent to wait [2] - Azure revenue grew by 39%, which, while still strong compared to competitors, fell short of expectations as it was 1% below the previous quarter [6][7] Investment Sentiment - The steep drop in stock price has led to a perception that Microsoft is misunderstood, with investors reacting harshly to heavy AI capital expenditures without sufficient quarter-over-quarter growth [4][5] - There is a growing concern that the significant increase in capital expenditures, which rose 66% year-over-year to $37.5 billion, has not yet translated into expected growth, leading to a negative outlook for the recent quarter [8][6] Future Outlook - CFO Amy Hood indicated that demand for AI services is exceeding supply, suggesting that capacity constraints are currently limiting growth potential, rather than a lack of demand [9][10] - Once Microsoft addresses its capacity issues, there is potential for Azure to regain its status as a key growth driver for the company [10]

Core Viewpoint - The YieldMax MSTR Option Income Strategy ETF offers a high yield and exposure to Bitcoin through a complex options strategy focused on Strategy Inc, but it carries significant risks and has shown poor performance over the past year [1][2][5]. Group 1: ETF Overview - The YieldMax MSTR Option Income Strategy ETF is an option-income ETF that focuses solely on Strategy Inc, which is known for its AI-powered enterprise analytics software and its status as a major Bitcoin treasury company [2]. - The ETF does not own any Strategy stock directly but employs a complex options strategy to generate income linked to the performance of Strategy stock [3]. Group 2: Yield and Performance - The ETF's annualized yield based on a recent dividend payment is an astonishing 75%, which raises caution among dividend investors [4]. - The ETF has experienced a total return of negative 42% over the past year, indicating poor performance, and if dividends were spent rather than reinvested, the value would have declined by nearly 80% [5][6]. - The variability of the dividend payments can lead to significant fluctuations in income, making the ETF appear as an unreliable option for generating a sustainable income stream [6].

Core Insights - MicroStrategy is intensifying its investment in Bitcoin, with a current holding of $55 billion, just above its average purchase price [1] - The company has marked 2,000 days since adopting its "Bitcoin Standard," indicating a long-term commitment to Bitcoin [2] - The firm is facing significant pressure on its balance sheet, prompting a strategy to attract fresh capital [2] Financial Strategy - MicroStrategy's current Bitcoin holdings amount to 712,647 BTC, acquired at an average cost of $76,037 per coin, with Bitcoin trading around $78,000 [3] - To fund further Bitcoin purchases, the company has increased the dividend on its Series A Perpetual Stretch Preferred Stock (STRC) by 25 basis points, raising the yield to 11.25% [3] - The 11.25% payout is significantly higher than typical corporate bonds, reflecting the company's need for capital and the volatility of its Bitcoin-centric model [4] Capital Raising Mechanism - STRC has become a primary tool for capital raising, funding the acquisition of over 27,000 BTC since its launch in November [4] - The variable-rate security is part of a suite of fixed-income products, indicating a diversified approach to capital generation [4] Risks and Concerns - Critics highlight that the high cost of servicing the increased dividends could lead to cash-flow challenges, especially if Bitcoin prices stagnate or fall below the firm's average purchase price [5]

​Datadog, Inc. (NASDAQ:DDOG) is one of the Best Software Stocks to Buy According to Wall Street Analysts. Recently, on January 30, Blair Abernethy from Rosenblatt Securities reiterated a Buy rating on the stock and lowered the price target from $200 to $180. Earlier, on January 29, Keith Bachman from BMO Capital also reiterated a Buy rating on Datadog, Inc. (NASDAQ:DDOG) but lowered the price target from $215 to $170. ​The ratings come ahead of the company’s Q4 2025 earnings, expected to be released on F ...