Aiming to expand its reach to professional contractors, Home Depot (HD)  announced it will be acquiring GMS Inc. (GMS)  for $4.3 billion or $5.5 billion when including debt.As a distributor of wallboard and suspended ceiling systems, GMS will strengthen Home Depot’s position in the specialty building products space with the deal expected to close by the end of the year or early 2026. HD & GMS Stock Performance Notably, the acquisition announcement caused GMS stock to spike +11% on Monday, with HD shares sli ...

泡泡玛特 20250624 摘要 2025 年初，泡泡玛特一代和二代产品集中放货导致股价下跌，但公司 IP 热度并未受影响，随后价格有所回升。618 期间，Labubu 三代产品 溢价过高，公司通过补货打击黄牛炒作，并采取多批次预售以稳定价格， 此举有利于品牌长期发展。 泡泡玛特 IP 具有周期性，但糖胶毛绒品类放大了 IP 特性，使其受欢迎度 大幅提升。Labubu 在东南亚爆火后，对中国市场形成映射，北美市场 热度也在 2025 年 4 月后爆发，Google Trend 搜索热度显示其在不同 市场均有增长迹象，未来发展潜力巨大。 Labubu 与玲娜贝儿相比，具有更强的全球化属性，不仅在北美市场表 现出色，还在中东、南美等地表现突出，在俄罗斯线上市场也有显著影 响力。Labubu 在东南亚市场自 2024 年 4 月底开始热度持续上升，需 求强劲。 泡泡玛特通过引入更多 IP，如大耳狗、帕恰狗和库洛米等，实现了收入 来源的均衡分布，降低对单一 IP 的依赖。2024 年大耳狗占公司收入比 例约为 20%，预计 2025 年将保持在 40%以下。 Q&A 如何看待泡泡玛特补货和二手市场价格的变化？ 泡泡玛 ...

This presentation contains forward-looking statements. All statements other than statements of historical fact contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only current predictions and are subject to know ...

Core Insights - Sprout Social is utilizing Coupa's AI-native total spend management platform to enhance spend management analysis and improve financial visibility across its operations [1][2] - The partnership aims to streamline procurement processes and drive operational efficiency, allowing Sprout Social to gain better control over its spending and growth [2][3] Company Overview - Sprout Social is recognized as a leader in cloud-based social media management software, serving approximately 30,000 brands with its platform [6][7] - Coupa is the leader in AI-native total spend management, leveraging a dataset of $8 trillion and a network of over 10 million buyers and suppliers to automate the buying process [5] Operational Efficiency - The integration of Coupa with Sprout Social's ERP has eliminated manual data entry, reducing operational issues and fiscal anomalies [3] - Coupa's solutions are designed to enhance procurement practices, providing Sprout with visibility into all lines of spend and improving overall efficiency [3][4] Strategic Growth - The collaboration between Sprout Social and Coupa is positioned to unlock the full potential of total spend management, driving transparency and impactful business outcomes [4] - Coupa's platform supports Sprout in implementing effective controls and monitoring spending abnormalities, thereby streamlining indirect procurement and accounts payable processes [3]

Core Viewpoint - Paylocity Holding (PCTY) has experienced a 6.8% decline in share price over the past three months, underperforming compared to the broader market and its industry peers [1][2] Client Base Stability - Despite macroeconomic pressures and high interest rates, Paylocity maintained stability in its client base during Q3 of fiscal 2025, with workforce levels slightly up year over year [4] - Over 25% of new business was generated through channel referrals, indicating strong partnerships with benefit brokers and financial advisers [4] Product Expansion - Paylocity's ongoing product expansion, including AI-powered tools and third-party integrations, has led to an increase in average revenue per client [5] - Recent product launches include embedded background checks and an AI assistant for policy and compliance inquiries, enhancing user experience [5] Financial Performance - In Q3 of fiscal 2025, Paylocity reported recurring and other revenues of $421.1 million, reflecting a 15% year-over-year increase, and total revenues reached $454.6 million, up 13.27% year over year [6][7] - The company exceeded revenue expectations for the third consecutive quarter and raised its full-year guidance [7] Future Guidance - For fiscal 2025, Paylocity expects total revenues to be in the range of $1.58-$1.585 billion, indicating approximately 13% year-over-year growth [8] - The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $1.58 billion, suggesting a year-over-year growth of 12.88% [10] Investment Outlook - Despite a cautious market environment, Paylocity has maintained a stable client base and continues to grow average revenue per client, supported by strong execution across sales and operations [11]

Financial Data and Key Metrics Changes - The company has seen a stable demand environment since Q4 of the previous fiscal year, with strong execution reflected in financial performance, beating expectations and raising guidance significantly [5][6][68] - The company is guiding for approximately 100 basis points of ex-float EBITDA margin expansion for FY 2025, despite headwinds from the Airbase acquisition [38] - Long-term adjusted gross margin targets are set at 75% to 80%, compared to last year's performance of 74%, driven by scale and lighter implementation lifts for existing products [42][43] Business Line Data and Key Metrics Changes - The company has maintained a relatively flat level of employees on the platform, which has moderated growth expectations compared to pre-COVID levels [8][70] - The acquisition of Airbase is expected to enhance the company's offerings in spend and expense management, expanding its product suite beyond HR functions [25][87] Market Data and Key Metrics Changes - The broker environment is highly fragmented, presenting opportunities for the company to expand relationships and increase referrals from brokers [18][79] - The company targets businesses with 15,000 employees, with a significant runway for growth as it currently serves only 40,000 clients out of over 1.3 million potential businesses in the U.S. [60] Company Strategy and Development Direction - The company aims to be a destination for referrals by providing significant value to the broker community, focusing on technology investments that facilitate data integration [12][83] - The strategy includes expanding into the office of the CFO and IT departments, leveraging existing HR data to automate processes and improve client experiences [36][87] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the stability in the demand environment and the company's performance, indicating a positive outlook for the remainder of the fiscal year [6][68] - There is an acknowledgment of potential challenges in the market, but the company is positioned to take advantage of any disruptions that may arise from industry M&A activities [11][20] Other Important Information - The company is exploring the integration of Gen AI into its offerings, aiming to enhance client experiences and operational efficiencies [46][50] - The company has a consistent track record of growing sales headcount, focusing on productivity and efficiency in its go-to-market efforts [55] Q&A Session Summary Question: How would you characterize the current demand environment? - The demand environment has been stable since Q4 of last fiscal year, with no significant disruptions impacting performance [4][68] Question: What are the primary headwinds to growth the company is facing? - The company has guided for a flat level of employees on the platform, which has moderated growth expectations compared to pre-COVID levels [8][70] Question: How does the recent M&A activity in the industry create opportunities for Paylocity? - The company is prepared to take advantage of any disruptions in the broker market resulting from the integration of competitors [11][12] Question: What is the expected penetration rate for new offerings like Airbase? - The company targets a 10% to 20% penetration rate over a three to five-year timeframe for new solutions, including Airbase [31][90] Question: How does the company plan to leverage Gen AI in customer support? - The company is already implementing AI to enhance client experiences by surfacing answers to common questions, aiming for better service and efficiency [51][52]

2025年5月21日至24日,第五届BEYOND国际科技创新博览会(以下简称"BEYOND Expo 2025")在澳门举 行。BEYOND Expo是亚洲知名科技创新和生态博览会,吸引全球超1200家参展企业参展,汇集超30000位 科技创新追求者到场参观,共谋企业出海及国际化之路。 5月22日,Airwallex空中云汇(以下简称"空中云汇")香港中小企业务销售主管赵公亮(Nick Chiu)受邀参加 跨境支付圆桌论坛,探讨跨境支付领域的最新趋势,分享空中云汇在该领域的洞察和经验。 为帮助企业实现全球市场的灵活、稳健运营,空中云汇整合了全球本地结算网络与多币种账户体系,其全 球支付网络已覆盖180多个国家和地区,实现95%的交易在数小时内或当日到账,其中68%即时到账。这 种"比传统支付方式更敏捷、比本地服务商更全球化"的能力,成为空中云汇在年交易量突破1300亿美 元、服务超15万家企业成果背后的核心壁垒。 此外,空中云汇合规先行的策略取得显著成效。空中云汇在全球60多个国家和地区获得支付牌照和许可, 处于行业领先地位。近期,空中云汇还分别收购越南中介支付服务(IPS)牌照持有者CTIN Pay公司和墨 ...

Core Insights - Airwallex has successfully completed a $300 million Series F funding round, achieving a post-money valuation of $6.2 billion, up from $5.6 billion in the previous round [1][2] - The company has demonstrated significant growth, with annualized revenue exceeding $720 million, a 90% year-on-year increase, and annual transaction payment volume surpassing $130 billion [2] - Airwallex is positioning itself as a global financial operating system for businesses, aiming to facilitate seamless and real-time financial transactions [8] Funding and Valuation - The recent funding round included $150 million from secondary share sales, with participation from various venture capital firms and strategic investors like Visa Ventures [1] - The valuation increase reflects a strategic choice by the company to maintain its value amidst a challenging investment climate for fintech companies [1][2] Business Model and Market Expansion - Airwallex has shifted its focus from primarily serving Chinese enterprises to catering to global local businesses, enhancing its global market presence [4][5] - The company has diversified its revenue sources, with a significant increase in revenue from regions outside of Greater China, now accounting for 30% from Europe and the Americas [5][6] Product Development and Innovation - Airwallex has expanded its product offerings beyond basic payment solutions to include a comprehensive suite of financial services, such as multi-currency accounts and expense management tools [6][7] - The company is leveraging AI to enhance its services, improving customer onboarding and compliance processes, and aims to develop AI-driven financial agents to automate traditional finance roles [9][10][11] Competitive Landscape - Airwallex views its primary competition as traditional banks rather than other fintech companies, capitalizing on its agility and understanding of the Asia-Pacific market [9] - The company differentiates itself by addressing the unique needs of Asian businesses, which have been underserved by Western payment giants [7]

独角兽观察 | JBSERVATION �il �ir �s 作者丨 马文佩、刘恒涛 编辑丨 关雎 图源丨 空中云汇 5月2 1 日，全球支付和金融平台空中云汇（ Airwallex ），披露了 F轮融资 ，本轮融资 3 亿美元， 投资方为 SquarePeg、DST Global 、 Lone Pine Capital、Blackbird、Airtree 、 Salesforce Ventures以及多家历史悠久的养老基金。Visa Ventures作为战略投资者也参与了此次 投资 。 迄今为止，空中云汇已完天使轮、 PreA、A、A+、B、C、D、D+、E、E2、F共计1 1 轮融资，投 资者包括红杉中国、腾讯投资、阿里巴巴和高瓴资本等。 | | | 空中云汇（深圳）网络科技有限公司-融资历程 | | | --- | --- | --- | --- | | 融资轮次 | 事件时间 | 融资金额 | 投资方 | | E++轮 | 2022/10/11 | 1亿美元 | Square Peg Capital | | | | | Salesforce | | | | | 红杉中国 | | | | | Lone ...

「 一家全球化fintech公司的十年。 」 文 ｜ 任倩 编辑 ｜ 陈之琰 「暗涌 Waves 」独家获悉，全球跨境支付与金融平台 Airwallex （空中云汇）近日完成 3 亿美元 F 轮融资。投资方包括 Square Peg 、 DST Global 、 Blackbird 、 Airtree 、 Salesforce Ventures 等风投机构，还有 多 家养老基金， Visa Ventures 作为战略投资者参与。 据了解，本轮融资中 1.5 亿美元为 二次股份转让 ，投后估值 6 2 亿 美元。 Airwallex 的上一轮融资还停留在 2022 年 —— 包括 Square Peg 、 红杉中国、 Lone Pine Capital 等在内的投资人共注资 1 亿美元，当时的估值是 56 亿美元。这意味着， 本次的 估值 略有上涨 。 在近年全球一级市场估值大幅回调、 fintech 类公司被国内机构 " 边缘化 " 的客观现实下， Airwallex 首席营收官吴恺告诉「暗涌 Waves 」，公司维持当下的估值 水平是一种 " 主动选择 " 。 相较于 2021 年融资的巅峰时期，今年的投资 ...