Core Viewpoint - Huawei is projected to lead the Chinese smartphone market in 2025 with a shipment of 46.7 million units, despite a slight decrease of 1.9% from 2024, primarily due to the decline of competitor Vivo [3][5]. Group 1: Huawei's Performance - Huawei's flagship Mate series and budget nova series are performing well, both equipped with self-developed Kirin semiconductors [6]. - The company has managed to recover from a decline in sales caused by U.S. sanctions that limited semiconductor procurement, leading to a drop in product performance since 2019 [1][6]. - The latest model, Mate 80, launched in November 2025, features enhanced performance and AI capabilities while being priced lower than its predecessor, aiming to increase the user base of the HarmonyOS [6]. Group 2: Competitor Analysis - Apple ranks second with a shipment of 46.2 million units, showing a growth of 4%, bolstered by strong sales of the iPhone 17 series launched in September 2025 [6]. - Vivo, which held the top position in 2024, saw a significant decline of 6.6%, resulting in a shipment of 46.1 million units in 2025 [3][5]. - Xiaomi and OPPO follow with shipments of 43.8 million and 43.4 million units, respectively, with Xiaomi experiencing a growth of 4.3% and OPPO a modest increase of 2.1% [5]. Group 3: Market Overview - The overall smartphone shipment in China for 2025 is projected to be 284.6 million units, a decrease of 0.6% year-on-year, marking the first decline in two years [6]. - Government incentives for trade-ins have had a positive impact, but some regions have exhausted their subsidy quotas, leading to a slowdown in demand [6]. - IDC forecasts a further decline in shipments to 278 million units in 2026, continuing the downward trend [6].

Core Insights - Chessnut has launched next-generation smart boards that blend traditional chess with online gaming, aiming to set a new standard for both enthusiasts and professionals [1][4][17] Product Overview - The Chessnut lineup includes various models catering to different player needs, such as: - **Chessnut Air**: Lightweight and affordable, ideal for students and club players, compatible with Lichess and Chess.com [6] - **Chessnut Pro**: A premium tournament board with hidden LED indicators and built-in AI, praised for its aesthetic and competitive pricing [8] - **Chessnut Evo**: A high-end model featuring a built-in chess engine for training and analysis, designed for serious players [10] - **Chessnut Go**: Compact and portable, perfect for players on the move, encapsulating Chessnut's innovative spirit [12] Technological Integration - Chessnut boards replicate moves in real time and detect every action, allowing players to compete online while maintaining the tactile experience of physical pieces [4][5] - The company emphasizes the importance of preserving the traditional essence of chess in the digital age, creating a technological ecosystem that enhances the game [5][15] Community and Ecosystem - Chessnut aims to build a vibrant community around its products, with frequent software updates and user engagement to enhance functionality and compatibility [15] - The goal is to make each board a tool for continuous improvement while maintaining the emotional connection to classical chess [15]

Financial Data and Key Metrics Changes - Q3 2025 was a record-breaking quarter for the company, with annual recurring revenue (ARR) reaching $323 million, up 34% year over year [6][12] - Adjusted EBITDA increased by 50% year over year to $17 million, with GAAP earnings per share at $0.07, marking a significant improvement of $0.35 compared to the same period last year [9][19] - Total revenue for Q3 was $139.5 million, a slight increase from the prior year, with subscriptions and services revenue comprising 57% of total revenue, up from 45% in the same period last year [13][12] Business Line Data and Key Metrics Changes - The company added 281,000 paid accounts in Q3, exceeding the target range of 190,000-230,000, bringing total paid accounts to 5.4 million, a 27% increase year over year [5][12] - Average revenue per user (ARPU) exceeded $15 per month, and the lifetime value (LTV) of each user grew to over $870, both new records for the company [6][12] - Subscriptions and services revenue was $79.9 million, up 29% year over year, driven by increased ARPU and a strong pace of paid account additions [11][12] Market Data and Key Metrics Changes - International customers generated $58 million, or 42% of total revenue, down from $66 million, or 48%, in the prior year period, attributed to increased subscription revenue from the US retail business [16] - The company expects 20-30% unit growth year over year in Q4, supported by the recent product launch and strong demand in the retail channel [10][39] Company Strategy and Development Direction - The company is focused on a services-first strategy, aiming to drive subscriptions and services revenue while maintaining a competitive edge through innovative product offerings [11][10] - The long-range plan targets include reaching 10 million paid accounts, $700 million in ARR, and an operating income of over 25% [10][34] - The company is leveraging partnerships, particularly with Verisure and ADT, to expand its market presence and drive growth in strategic accounts [10][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the subscriptions and services business, despite the full impact of tariffs during the period [21] - The company anticipates strong performance in Q4, with a revenue outlook in the range of $131-$141 million and non-GAAP net income per diluted share expected to be between $0.13-$0.19 [21] - Management highlighted the importance of household formation and service revenue growth as key drivers for future profitability [44][40] Other Important Information - The company executed the largest product launch in its history during Q3, introducing over 100 SKUs across various product tiers [7][8] - Non-GAAP subscriptions and services gross margin reached 85%, up 770 basis points year over year, while consolidated non-GAAP gross margin was 41%, up 540 basis points year over year [17][18] Q&A Session Summary Question: Margin pressures and BOM cost reduction - Management acknowledged that product gross margin is under pressure despite a significant BOM cost reduction, attributing this to tariffs and promotional spending on end-of-life products [24][25] Question: Growth drivers and partnerships - Management discussed the potential for growth in Latin America through partnerships, particularly with Verisure, and highlighted the importance of strategic accounts for future growth [28][32] Question: Service revenue growth and paid subscriber additions - Management indicated that the 281,000 paid subscriber additions were driven by strong performance in both retail and strategic accounts, with confidence in achieving higher service revenue than initially guided [45][47]

Product Overview - Peak Design is releasing three new carbon fiber tripods: Pro Light, Pro, and Pro Tall [1] - The new tripods are sturdier than the original travel tripod [1] - The ball head is entirely new with a more secure locking mechanism [2] - The new ball head can do pants but not tilts, requiring an additional attachment for tilts [3] Target Audience & Use Case - Primarily designed as video tripods, but usable as photo tripods [3][4] - Considered a sturdier, better version of the travel tripod [5] Pricing & Availability - The Pro Light tripod starts at $800, the Pro at $900, and the Pro Tall at $1,000 [5] - More details are available on tvercom [5]

Table of Contents As filed with the Securities and Exchange Commission on December 3, 2024. Registration No. 333-283296 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (State or other jurisdiction of incorporation or organization) Delaware 7372 26-0331862 (Primary Standard Industrial Classification Code Number) ServiceTitan, Inc. 800 N. Brand Blvd. Suite 100 Glendale, California 91203 (855) 899-0970 ( ...