Snowflake (NYSE:SNOW) Q3 2026 Earnings Call December 03, 2025 05:00 PM ET Company ParticipantsBrian Robins - CFOKatherine McCracken - Head of Investor RelationsMatt Hedberg - Head of Global TIMT Research and Director of ResearchSanjit Singh - Executive DirectorKirk Materne - Managing Director and Equity ResearchSridhar Ramaswamy - CEOMike Cikos - Managing Director and Equity ResearchConference Call ParticipantsPatrick Colville - Vice President and Equity Research AnalystNone - Analyst 2Brad Reback - Managin ...

UiPath (NYSE:PATH) Q3 2026 Earnings Call December 03, 2025 05:00 PM ET Company ParticipantsAllise Furlani - VP of Investor RelationsDaniel Dines - CEOArsenije Matovic - VP of Equity ResearchAshim Gupta - Chief Operating and Financial OfficerAustin Williams - VP of Software Equity ResearchKingsley Crane - Software Managing Director of Equity ResearchDominique Manansala - Equity Research AssociateMike Richards - Equity Research Senior AssociateBryan Bergin - Managing Director of Equity ResearchConference Call ...

Snowflake (NYSE:SNOW) Q3 2026 Earnings Call December 03, 2025 05:00 PM ET Company ParticipantsBrian Robins - CFOSridhar Ramaswamy - CEOKatherine McCracken - Head of Investor RelationsModeratorGood afternoon. Thank you for attending today's Snowflake Q3, fiscal year 2026, earnings call. My name is Jayla, and I'll be your moderator for today. All lines will be muted during the presentation portion of the call, with an opportunity for questions and answers at the end. At this time, I'd like to pass the confere ...

Salesforce (NYSE:CRM) Q3 2026 Earnings Call December 03, 2025 05:00 PM ET Company ParticipantsRobin Washington - CFORaimo Lenschow - Managing DirectorKirk Materne - Managing Director of Equity ResearchBrad Zelnick - Managing Director of Software Equity ResearchSrini Tallapragada - President, Chief Engineering and Customer Success OfficerMiguel Milano - Chief Revenue OfficerKeith Weiss - Managing DirectorBrent Thill - Tech Sector Leader of Software and Internet ResearchBradley Sills - Managing DirectorMichae ...

Annual Meeting December 2025 For personal use only NASDAQ: AVR | ASX: AVR Disclaimer Forward-Looking Statements This presentation (including oral commentary that accompanies this presentation) contains forward-looking statements, including statements related to our business, products and clinical trials and studies. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. In so ...

Financial Data and Key Metrics Changes - Total revenue for Q2 was $75.1 million, a quarter-over-quarter increase of 7% [19] - Subscription revenue was $70.2 million, a quarter-over-quarter increase of 16.5%, representing 93% of total revenue [19] - Non-GAAP gross profit was $40.9 million, with a non-GAAP gross margin of 54% [21] - Non-GAAP operating loss for the quarter was $42.2 million, and non-GAAP net loss was $34.8 million, equating to $0.25 per share [21] - Free cash flow for the quarter was negative $46.9 million, with $675 million in cash and equivalents at quarter-end [22] Business Line Data and Key Metrics Changes - Bookings increased by 49% sequentially to $86 million, with significant traction in federal business [5][20] - Total bookings across federal, defense, and aerospace increased by 89% year over year, accounting for 45% of total bookings [6] - Professional services revenue was $4.9 million, representing 7% of total revenue [20] Market Data and Key Metrics Changes - The federal market is identified as a large growth vector, with agencies moving towards commercial off-the-shelf solutions [6] - The company signed new agreements with various federal agencies, including the U.S. Department of Health and Human Services and the U.S. Department of Defense [6][7] Company Strategy and Development Direction - The company aims to return to rapid growth and a path towards free cash flow positive and non-GAAP profitability [14] - Focus on driving sales execution and doubling down on products and industries where the company has demonstrable leadership [15] - The product roadmap includes innovations like C3.ai Agentic Process Automation, which expands the scope of what customers can accomplish [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges from a government shutdown but remains optimistic about the demand for enterprise AI [5][30] - The management team is focused on delivering economic value quickly to convert opportunities into agreements [27][36] - The company is benefiting from trends such as the push for AI adoption and the reindustrialization of the maritime industrial base [34] Other Important Information - The company has established a detailed financial model and operational objectives to facilitate growth [17][18] - The partner ecosystem is crucial, with 89% of bookings in Q2 closed through partnerships [10] Q&A Session Summary Question: Explanation for the decline in business performance - Management attributed the decline to poor sales execution and acknowledged that demand for enterprise AI is accelerating [26] Question: Clarification on revenue from demo licenses - The revenue of $21.9 million was from demo licenses [31] Question: Outlook for professional services revenue mix - Long-term expectations for professional services mix remain between 10%-20% of revenue [32] Question: Future outlook for federal business - The federal business is expected to be a durable growth engine, driven by government trends towards commercial solutions and AI adoption [33] Question: Initiatives for better growth and accountability - Management emphasized the importance of rigorous evaluation and delivery of value to drive growth [36]

Financial Data and Key Metrics Changes - Product revenue in Q3 was $1.16 billion, up 29% year over year [4] - Remaining performance obligations totaled $7.88 billion, with year-over-year growth accelerating to 37% [5] - Net revenue retention remained stable at 125% [5] - Non-GAAP product gross margins were 75.9% [18] - Non-GAAP operating margin expanded more than 450 basis points year-over-year to 11% [18] - For Q4, product revenue is expected between $1.195 and $1.2 billion, representing 27% year-over-year growth [19] - FY26 product revenue guidance raised to approximately $4.446 billion, representing 28% year-over-year growth [19] Business Line Data and Key Metrics Changes - Financial services and technology verticals led growth in Q3 [17] - 28% of all use cases deployed during the quarter incorporated AI [9] - 50% of the bookings signed in Q3 were influenced by AI [8] Market Data and Key Metrics Changes - Over 7,300 accounts are using Snowflake's AI capabilities weekly [6] - The company added a record 615 new customers in Q3 [5] - Snowflake surpassed $2 billion in sales through AWS Marketplace in a single calendar year [15] Company Strategy and Development Direction - Snowflake aims to empower enterprises through data and AI, focusing on operational rigor and product innovation [4] - The company is expanding partnerships with major cloud providers and AI model developers to enhance its offerings [16] - New partnerships with companies like SAP and Anthropic are designed to deepen integrations and accelerate enterprise AI adoption [10][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, emphasizing the importance of AI in driving customer relationships and revenue [8][19] - The company is focused on efficient growth while maintaining financial discipline [21] - Management highlighted the strong demand for Snowflake's AI data cloud and the transformative impact on customer businesses [20] Other Important Information - The company achieved a major milestone of $100 million in AI revenue run rate, one quarter earlier than anticipated [8] - Snowflake maintained a rapid pace of innovation, bringing total GA product capabilities to 370 year-to-date, a 35% increase over last year [11] Q&A Session Summary Question: Growth rates on product revenue and Q4 guidance - Management noted a 29% year-over-year revenue growth and raised FY guidance by $51 million to $4.446 billion, indicating strong underlying customer behavior [22][24] Question: Types of customers using AI products - Management highlighted various customers leveraging Snowflake Intelligence, including the USA Bobsled team and Fanatics, showcasing the product's ability to unlock data access and drive business value [25][27] Question: Go-to-market strategy and new customer wins - Management indicated that Snowflake Intelligence plays a key role in customer acquisition, allowing for hyper-customized demos that demonstrate the platform's value [29] Question: Impact of migrations on product revenue - Management stated that they are still early in the migration process and expect AI to accelerate these migrations, enhancing product value [35] Question: Zero Copy agreements and their impact - Management explained that Zero Copy agreements facilitate smoother data sharing and collaboration, enhancing the overall value proposition for customers [37][38] Question: Customers tying Snowflake investments to AI budgets - Management confirmed that many customers are increasingly linking their Snowflake investments to AI initiatives, leading to larger and longer-term contracts [40] Question: Growth of AI revenue and future milestones - Management indicated that the $100 million AI revenue run rate is primarily driven by the Cortex product suite and expects continued growth in AI adoption [50][59]

Financial Data and Key Metrics Changes - The company reported third quarter ARR of $1.782 billion, an increase of 11%, driven by $59 million in net new ARR [4][22] - Revenue for the quarter was $411 million, reflecting a 16% year-over-year increase [5][21] - The company achieved its first GAAP profitable third quarter with GAAP operating income of $13 million, compared to a GAAP operating loss of $43 million in the prior year [24] - Non-GAAP operating income reached $88 million, representing a 21% margin, up more than 700 basis points year-over-year [24] Business Line Data and Key Metrics Changes - The company highlighted strong customer engagement with over 950 companies developing agents and more than 365,000 processes orchestrated with Maestro [6][22] - The introduction of agentic capabilities in the intelligent extraction and processing (IXP) product is expected to enhance automation in document-heavy processes [9][10] Market Data and Key Metrics Changes - The company ended the quarter with approximately 10,860 customers, with significant growth in customers generating $100,000 or more in ARR, increasing to 2,506 [22] - Dollar-based gross retention remained at 98%, while the dollar-based net retention rate was 107%, indicating strong customer loyalty [23] Company Strategy and Development Direction - The company is focused on enhancing its automation strategy by integrating deterministic automation with agentic AI, aiming to provide trusted enterprise-grade automation [4][5] - The company is expanding its cloud footprint in key markets and developing vertical solutions to address industry-specific challenges [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive future growth and operational efficiency, despite a variable macroeconomic environment [24][25] - The company is raising guidance for the fourth fiscal quarter, expecting revenue in the range of $462 million to $467 million [25][26] Other Important Information - The company was recognized as a leader in the Gartner Magic Quadrant for intelligent document processing and AI augmenting software testing tools, highlighting its capabilities in these areas [10][11] - The company is actively collaborating with technology partners like OpenAI and Microsoft to enhance its automation offerings [16][17] Q&A Session Summary Question: Regarding agentic solution traction - Management noted that over 950 clients are developing agents, indicating strong momentum across the agentic offering [27][28] Question: Impact of the federal shutdown - Management confirmed no direct impact from the federal shutdown, as many projects are funded through bills and considered critical operations [29] Question: Drivers of net new ARR growth - Management attributed the expected growth to improved execution, customer activity, and a stable macroeconomic environment [30][44] Question: OpenAI collaboration details - Management highlighted the use of GPT-5 across the platform, particularly in the Screenplay product, which combines UI automation with LLM adaptability [34] Question: Incremental pipeline from partnerships - Management emphasized the quality of partnerships, particularly with Deloitte, which has led to deeper engagement in larger-scale transformation processes [38] Question: Agentic consumption pricing predictability - Management acknowledged the industry's dynamic nature and is working on flexible pricing models to help customers forecast usage patterns more reliably [56]

Guidewire Software (NYSE:GWRE) Q1 2026 Earnings Call December 03, 2025 05:00 PM ET Speaker3Greetings and welcome to the Guidewire First Quarter of Fiscal 2026 Financial Results Conference Call. As a reminder, this call is being recorded and will be posted on our Investor Relations page later today. I would like to now turn the call over to Alex Hughes, Vice President of Investor Relations. Thank you, Alex. You may begin.Speaker2Thank you, Grace. Hello, everyone. With me today is Mike Rosenbaum, Chief Execut ...

Financial Data and Key Metrics Changes - Q3 revenue was $10.26 billion, up 9% year over year and 8% in constant currency [11][44] - Non-GAAP operating margin was strong at 35.5%, with GAAP operating margin up 130 basis points [11][44] - Current remaining performance obligation (CRPO) ended at $29.4 billion, up 11% year over year [11][45] - Operating cash flow was $2.3 billion, up 17% year over year, with free cash flow at $2.2 billion, up 22% year over year [12][11] Business Line Data and Key Metrics Changes - Agentforce and data reached nearly $1.4 billion in ARR, up 114% year over year, with Agentforce ARR at about $540 million, up 330% year over year [13][11] - Subscription and support revenue grew 10% year over year in nominal terms and 9% in constant currency [44] - Data 360 ingested 32 trillion records, up 119% year over year, including 15 trillion through zero-copy data integration, up 341% year over year [30][11] Market Data and Key Metrics Changes - Strong business growth was observed in North America and EMEA, particularly in France and the UK, while Asia-Pacific faced constraints, especially in Australia and India [45] - The small and mid-market business continued to perform well, with enterprise growth accelerating [45] Company Strategy and Development Direction - The company is focused on accelerating Agentforce and Data 360 adoption, reallocating resources to high-growth areas [46] - Strategic acquisitions, such as Informatica, are aimed at enhancing the data foundation and are expected to be accretive within 12 months [47][30] - The company is positioning itself for sustainable, profitable growth through disciplined investments and capital allocation strategies [6][11] Management's Comments on Operating Environment and Future Outlook - Management highlighted a strong demand for becoming agentic enterprises, with companies seeking to leverage AI for efficiency and productivity [54][56] - The company expects to finish the year with nearly $15 billion in operating cash flow, indicating strong financial health [12][11] - There is a projection for continued growth in subscription and support revenue, with a guidance of approximately 9% year-over-year growth in constant currency for fiscal year 2026 [48][49] Other Important Information - The company processed over 3.2 trillion tokens through its LLM gateway, indicating significant adoption of AI capabilities [20][21] - The company is seeing a consumption flywheel effect, with over 50% of new Agentforce bookings coming from existing customers expanding their investments [29][43] Q&A Session Summary Question: Insights on customer appetite for building their own applications versus using Salesforce - Management noted a significant shift in customer sentiment, with many realizing the complexity of building their own solutions and preferring to leverage Salesforce's capabilities for generative AI [52][53][56] Question: Expansion of sales representatives and productivity - Management confirmed a 20% increase in sales capacity, with expectations of healthy double-digit growth in pipeline generation, indicating readiness to capture market opportunities [56][58] Question: Competitive advantage in infrastructure - Management emphasized that Salesforce is not building data centers but leveraging existing infrastructure to preserve margins and cash flow, while enhancing overall company success [60]