This is an Raptor test,I get those goosebumps every time 🔥https://t.co/yUeiysGKlF ...

Core Insights - QuantumScape Corp. (QS) is currently pre-revenue, focusing on customer sampling and scaling pilot manufacturing processes with a capital-light go-to-market strategy that includes licensing and partner-led manufacturing [1][7] Group 1: Pilot Manufacturing and Operational Performance - The inauguration of the Eagle Line on February 4, 2026, marks the transition to active line operation, producing QSE-5 cells for customer sampling and demonstrating replicable production steps for future partners [2] - As ramp-up progresses, key metrics such as yield, uptime, cycle time, and cost will be critical in determining the commercial viability of the production line [3] - The Cobra system, which operates approximately 25 times faster than the previous Raptor platform, addresses scaling bottlenecks while improving capital efficiency [4] Group 2: Replication and Risk Management - QuantumScape positions the Eagle Line as a transferable manufacturing template aimed at demonstrating efficient replication at gigawatt-hour scale, which is essential for reducing technology-transfer risk for partners [5] - The capital-light structure aims to minimize direct factory build-out risks, with expected value generation through joint development payments, royalties, and licensing fees, although this may reduce control over timelines [7] Group 3: Validation and Partnerships - QSE-5 cells produced using the Cobra system have been shipped to Volkswagen Group, linking pilot production to external sampling programs and demonstrating real-world application [6] - Volkswagen's PowerCo has committed up to $131 million in milestone-based payments for the development of the QSE-5 pilot line, following a previous $130 million licensing agreement [9][8] Group 4: Financial Outlook and Monetization - Monetization is expected to be milestone-driven and uneven, with customer billings fluctuating quarterly based on project timing and milestone achievements; in 2025, customer billings totaled $19.5 million [10] - The operational scorecard includes metrics such as uptime, yields, reliability, and cycle time, which will be crucial for confirming ongoing trends in production and sampling programs [11] Group 5: Future Opportunities - QuantumScape is exploring long-term opportunities in sectors such as data centers, drones, and defense, which could provide additional commercialization pathways alongside automotive applications [12]

Core Insights - ServiceNow's product expansion is accelerating, leading to measurable growth and reinforcing the case for continued upside [1] - Major fourth-quarter growth drivers include Now Assist, Workflow Data Fabric, Raptor, and CPQ, which have outperformed expectations and gained widespread adoption in large enterprise deals [1][2] Product Expansion and Adoption - Growing attach rates and multi-product adoption are enhancing ServiceNow's expansion, with Workflow Data Fabric included in most large deals and Raptor achieving triple-digit growth in new contract value [2] - Now Assist has surpassed $600 million in annual contract value, indicating strong AI monetization and faster multi-module deployments as customers scale AI for productivity and cost efficiency [2] Enterprise Deal Activity - The product-led momentum is translating into stronger enterprise deal activity, with major contract wins and a rising base of high-value customers [3] - The Zacks Consensus Estimate forecasts revenue growth of over 20% in 2026, supporting a favorable outlook for ServiceNow [3] Competitive Landscape - ServiceNow faces competition from Salesforce and Atlassian in its product expansion efforts [4] - Salesforce is extending its Agentforce into IT service and workflow automation, challenging traditional workflow tools with a unified data platform and embedded AI [5] - Atlassian is accelerating its product expansion with an AI-powered "system of work," integrating various tools and extending service capabilities into HR and finance [6] Financial Performance and Valuation - ServiceNow shares have declined 45.8% over the past year, underperforming the broader Zacks Computer and Technology sector, which returned 23.7% [7] - The forward 12-month price/sales ratio for ServiceNow is 6.84X, compared to the sector's 6.54X, indicating that the stock may be overvalued [11] - The Zacks Consensus Estimate for ServiceNow's 2026 earnings is $4.12 per share, reflecting a 17.38% year-over-year increase [14]

Financial Data and Key Metrics Changes - The company reported $187 billion in revenue for the year, with an adjusted EBIT of $6.8 billion, which includes a $2 billion headwind from Novelis fires and tariffs [4][5] - The adjusted EPS and free cash flow figures were not explicitly mentioned, but the company generated $3.5 billion in free cash flow and ended the year with nearly $29 billion in cash and $50 billion in liquidity [13][14] - The company aims for an adjusted EBIT margin of 8% by 2029, indicating a focus on improving profitability [5] Business Line Data and Key Metrics Changes - Ford Pro generated over $66 billion in revenue with an EBIT of $6.8 billion, maintaining a double-digit margin despite challenges [15] - The Model E segment saw a revenue increase of 73% and volume growth of 69%, although it still reported an EBIT loss of $4.8 billion [16] - Ford Blue's revenue was roughly flat, with EBIT of $3 billion, supported by higher net pricing and a strong product lineup [17] Market Data and Key Metrics Changes - The U.S. market share increased to 13.2%, the best performance in six years, with significant growth in the Super Duty and Transit franchises [4][7] - Ford Pro's Class 1 through 7 market share in the U.S. is over 42%, while in Europe, it has been the number one commercial brand for 11 consecutive years [7][8] - The company anticipates a U.S. SAAR of $16 million to $16.5 million for 2026, with flat industry pricing expected [19] Company Strategy and Development Direction - The company is shifting its EV focus to high-volume, affordable vehicles, launching a Universal EV Platform aimed at the profitable $35,000 EV market [11][31] - Ford Energy is positioned as a strategic business to diversify revenue and reduce risks in the core automotive sector [11][12] - The company plans to expand its market coverage with a mix of powertrains, including gas, hybrids, and fully electric vehicles [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving year-over-year profit improvements driven by a richer Ford Blue mix and reduced Model E losses [10] - The company expects to achieve $8 billion to $10 billion in adjusted EBIT for 2026, with a focus on capital expenditures of $9.5 billion to $10.5 billion [19][22] - Management highlighted the importance of maintaining a competitive edge through cost reductions and improved product offerings [24] Other Important Information - The company declared a first-quarter regular dividend of $0.15 per share, reflecting its commitment to delivering shareholder returns [15] - Ford Credit delivered an EBT of $2.6 billion, up 55% year-over-year, indicating strong performance in financing [18] Q&A Session Summary Question: Can you unpack the market factors driving the year-over-year increase for 2026? - Management explained that the $1 billion improvement from Novelis is expected due to non-reoccurrence of previous losses and capacity actions, alongside lower tariff costs [26][29] Question: How is the investment in EV and AV being approached more capital-efficiently? - Management emphasized a focus on customer preferences and a strategy centered around the Universal EV Platform, which targets profitable segments [31] Question: What is the expected impact of Novelis on 2026? - The company anticipates a $1 billion year-over-year improvement from Novelis, with temporary costs expected to be around $1.5 billion to $2 billion [27][34] Question: How does Ford plan to address competition in the truck market? - Management highlighted the strength of their F-Series lineup and the importance of maintaining a disciplined market approach to balance share and incentives [36][37] Question: What are the expectations for capital expenditures in the coming years? - The company plans to increase capital spending to $9.5 billion to $10.5 billion, primarily driven by investments in Ford Energy and higher-return products [41][42]

Core Viewpoint - ServiceNow, with a market cap of approximately $121.5 billion, is positioned as a leading enterprise workflow platform, integrating with major cloud providers and AI technologies to support digital transformation across various industries [1][2]. Financial Performance - In Q4, ServiceNow reported a revenue increase of 20.5% year-over-year (YOY) to $3.56 billion, with non-GAAP EPS rising 26% annually to $0.92, indicating strong operational discipline [12]. - Subscription revenue grew 21% YOY to $3.47 billion, underscoring the company's robust business model [13]. - Current remaining performance obligations (cRPO) reached $12.85 billion, up 25% from the previous year, reflecting strong demand [14]. - The company ended the quarter with cash and marketable securities totaling $6.28 billion and free cash flow of $2.03 billion, resulting in a free cash flow margin of 57% [16]. Market Sentiment and Stock Performance - ServiceNow's stock has experienced a significant decline, down about 42% over the past year and nearly 24% in early 2026, despite strong quarterly results [7][3]. - Analysts have expressed mixed sentiments, with some maintaining a "Market Outperform" rating while others have adjusted price targets downward, reflecting cautious confidence [19][20]. - The stock trades at approximately 33.34 times forward adjusted earnings, indicating a premium valuation compared to the broader tech sector, yet below its historical median [11]. Future Outlook - Management projects subscription revenue for 2026 to be between $15.53 billion and $15.57 billion, implying annual growth of roughly 20.5% to 21% [17]. - Analysts anticipate fiscal 2026 EPS to be around $2.39, representing 21.9% YOY growth, with further growth expected in fiscal 2027 [18]. - The overall analyst consensus remains strong, with a majority recommending a "Strong Buy," indicating potential upside for investors [21]. Industry Context - The software sector is facing challenges as market sentiment shifts, particularly regarding the impact of AI on traditional software economics [5][6]. - Despite the broader market pressures, ServiceNow continues to demonstrate strong revenue growth and expanding margins, positioning itself as a resilient player in the enterprise software landscape [23].

Core Insights - ServiceNow (NOW) reported fourth-quarter 2025 adjusted earnings of 92 cents per share, exceeding the Zacks Consensus Estimate by 5.75% and reflecting a 26% year-over-year increase. Revenues reached $3.57 billion, surpassing the consensus mark by 1.25% and increasing by 20.7% year over year [1][8]. Revenue Performance - Subscription revenues improved by 20.9% year over year to $3.47 billion, while on a constant currency basis, revenues increased by 19.5% to $3.41 billion. Professional services and other revenues rose by 12.1% year over year to $102 million, with a constant currency increase of 11% to $101 million [2]. - The current remaining performance obligations (cRPO) stood at $12.85 billion, marking a 25% year-over-year increase on a reported basis and a 21% increase on a constant currency basis. Remaining performance obligations on a constant currency basis rose 22.5% year over year to $28.2 billion [3]. Client Growth and Product Performance - The company recorded 244 transactions exceeding $1 million in net new annual contract value (ACV) in Q4 2025, representing nearly 40% year-over-year growth. ServiceNow ended the quarter with 603 customers with over $5 million in ACV, reflecting approximately 20% year-over-year growth [4]. - AI-powered products such as Now Assist and Raptor significantly contributed to the growth in net new ACV, with RaptorDB Pro tripling its net new ACV year over year. The number of workflows and transactions grew over 33%, increasing from $60 billion to $80 billion and from $4.8 trillion to $6.4 trillion, respectively [5][6]. Operating Metrics - In Q4 2025, the non-GAAP gross margin was 80.3%, down 160 basis points year over year. The subscription gross margin was 82.7%, also contracting by 160 basis points year over year. Professional services reported a gross loss of $2 million compared to a gross income of $7 million in the previous year [7]. - Operating expenses as a percentage of revenues decreased by 180 basis points year over year to 64.2%, while the non-GAAP operating margin expanded by 140 basis points year over year to 30.9% [9]. Cash Flow and Share Repurchase - As of December 31, 2025, the company had cash and cash equivalents and marketable securities totaling $6.28 billion, up from $5.41 billion as of September 30, 2025. Cash from operations was $2.24 billion, compared to $813 million in the previous quarter, with free cash flow reaching $2.03 billion, up from $592 million in the prior quarter [10]. - The company repurchased 3.6 million shares in Q4 2025 and announced a new share repurchase authorization worth $5 billion, along with plans for a $2 billion accelerated share repurchase program [11]. Guidance for 2026 - For 2026, ServiceNow expects subscription revenues to be between $15.53 billion and $15.57 billion, indicating a rise of 20.5% to 21% from 2025. The guidance includes a 1% contribution from Moveworks. The non-GAAP subscription gross margin is anticipated to be 82%, with a non-GAAP operating margin of 32% and a free cash flow margin expected to be 36% [12]. - For Q1 2026, subscription revenues are projected to be between $3.65 billion and $3.67 billion, suggesting year-over-year growth of 21.5% on a GAAP basis [13][14].

Stretch goal for Starship V4 is 300 tons of thrust per engine with 33 engines, so 10,000 tons of total thrust.That is 3 times the power of the Saturn V Moon rocket.X Freeze (@XFreeze):SpaceX’s Starship is already one of the biggest flying objects ever built and it’s still getting bigger• With Starship 4, total size could grow ~10–20%• Raptor thrust jumps ~20%, nearing 9,000 tons at sea level• Enough to send 200+ tons to useful orbit• Fully & https://t.co/xAF6ldWcu6 ...

This is an Raptor test,I get goosebumps every time 🔥https://t.co/yUeiysGKlF ...

General Observation - The document is a short, potentially informal, test entry [1] - The content includes a reference to "goosebumps," which could be interpreted as excitement or a strong reaction [1] - A URL is included, suggesting further information or context is available online [1]

Financial Data and Key Metrics Changes - The company reported a record revenue of $50.5 billion and adjusted EBIT of $2.6 billion, with a year-over-year revenue growth of over 9% [7][18] - Adjusted free cash flow was strong at $4.3 billion for the third quarter, totaling $5.7 billion year to date, with nearly $33 billion in cash and $54 billion in liquidity [19][20] - The adjusted EBIT guidance for 2025 was updated to between $6 billion and $6.5 billion, reflecting a net tariff headwind of $1 billion [24][25] Business Line Data and Key Metrics Changes - Ford Pro delivered revenue of $17.4 billion and EBIT of $2 billion, with revenue and volume growth of 11% and 9% respectively [20] - Ford Model e experienced revenue and volume growth driven by new product introductions in Europe, but EBIT losses increased due to lower net pricing and higher spending on next-generation vehicles [21] - Ford Blue achieved EBIT of $1.5 billion, with revenue growth exceeding wholesale unit growth, despite higher costs driven by tariffs [22] Market Data and Key Metrics Changes - The total U.S. market share grew to 12.8%, with significant contributions from key products like F-150, Bronco, Explorer, and Expedition [16] - The industry conditions were strong, with a seasonally adjusted annual rate (SAR) of 17 million and positive pricing trends [15] - The company expects a U.S. industry SAR of about 16.8 million units for 2025 [24] Company Strategy and Development Direction - The Ford Plus plan aims to capitalize on regional market trends, customer fragmentation, and increasing competition, particularly from Chinese OEMs [9] - The company is focusing on hybrids and has a universal EV platform ready for production, with plans to launch next-generation EVs by 2027 [10][19] - Strategic partnerships and innovation are emphasized as essential for achieving cost efficiency and quality improvements [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to recover from the Novelis fire impact and highlighted a proactive approach to securing alternative aluminum sources [6][7] - The management noted that the evolving emissions landscape could eliminate compliance headwinds, allowing for a more optimized mix of ICE, hybrids, and EVs [25][105] - The company anticipates a strong fourth quarter, supported by ample inventory and a disciplined approach to market opportunities [16][19] Other Important Information - The company announced a regular dividend of $0.15 per share, payable on December 1 [19] - The company is committed to maintaining its investment-grade rating and returning capital to shareholders [19] Q&A Session Summary Question: Clarification on Novelis impact recovery - Management confirmed that the Hot Mill at Novelis is expected to be operational by late November, with plans to recover lost production in 2026 [29][30] Question: Warranty cost improvements - Management indicated that warranty costs were down year-over-year, with expectations for further reductions in the coming year [36][40] Question: Industry pricing discipline - Management expressed confidence in maintaining industry pricing discipline due to strong segment drivers and a fresh product lineup [42][44] Question: Emissions rules and profit opportunities - Management discussed the potential multibillion-dollar opportunity from new emissions rules, emphasizing the importance of optimizing vehicle mix [47][50] Question: Tariff impacts and guidance - Management clarified that the recent tariff policy changes would result in a net benefit of $1 billion, impacting the overall guidance positively [60][62] Question: EV losses and future expectations - Management acknowledged the challenges of EV profitability but indicated that they would provide updates after the fourth quarter [96][97] Question: Customer financing strategies - Management highlighted the success of a recent financing program aimed at subprime customers, which did not negatively impact average FICO scores [74][76]