The All-In Podcast
🚨🌴 LIVE from miami: mayor francis suarez!
@FrancisSuarez joins the besties to discuss:
-- the recipe for creating america's happiest city 😊
-- bringing down homelessness and homicides 📉
-- addressing overregulation at the local level 🏢
-- post-mayor career: what's next? 🇺🇸
(0:00) the besties welcome mayor francis suarez!
(0:23) how miami significantly decreased homelessness and homicides
(5:17) formula for turning miami into america's happiest and healthiest city
(10:32) addressing overregulation at the local level
(17:05) ambitions for his post-mayor career
(21:39) partner shoutouts: thanks to okx, circle, polymarket, solana, bvnk, and google cloud!
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🚨🌴 LIVE from miami: mayor francis suarez!
@FrancisSuarez joins the besties to discuss:
-- the recipe for creating america's happiest city 😊
-- bringing down homelessness and homicides 📉
-- addressing overregulation at the local level 🏢
-- post-mayor career: what's next? 🇺🇸
(0:00) the besties welcome mayor francis suarez!
(0:23) how miami significantly decreased homelessness and homicides
(5:17) formula for turning miami into america's happiest and healthiest city
(10:32) addressing overregulation at the local level
(17:05) ambitions for his post-mayor career
(21:39) partner shoutouts: thanks to okx, circle, polymarket, solana, bvnk, and google cloud!
tweet
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Wall St Engine
$CRWD | CrowdStrike Q1 Earnings Highlights
🔹 Revenue: $1.10B (Est. $1.10B) 🟡; UP +20% YoY
🔹 Adj EPS: $0.73 (Est. $0.66) 🟢
🔸 Share repurchase program authorized up to $1B
FY26 Guidance
🔹 Revenue: $4.74B–$4.81B (Est. $4.79B) 🟡
🔹 Adj EPS: $3.44–$3.56 (Est. $3.45) 😐
🔹 Adj Operating Income: $970.8M–$1.01B
🔹 Adj Net Income: $878.7M–$909.7M
🔹 Non-GAAP Tax Rate: 22.5%
🔹 Weighted Avg Diluted Shares: 256M
Q2 Guidance
🔹 Revenue: $1.1447B–$1.1516B
🔹 Adj EPS: $0.82–$0.84
🔹 Adj Operating Income: $226.9M–$233.1M
🔹 Adj Net Income: $209.1M–$213.8M
🔹 Weighted Avg Diluted Shares: 255M
Other Key Q1 Metrics:
🔹 Subscription Revenue: $1.05B; UP +20% YoY
🔹 Net New ARR: $193.8M
🔹 Ending ARR: $4.44B; UP +22% YoY
🔹 Cash Flow from Operations: $384.1M (Record High)
🔹 Free Cash Flow: $279.4M; DOWN from $322.5M YoY
🔹 Cash & Cash Equivalents: $4.61B
Q1 Non-GAAP Profitability Metrics:
🔹 Operating Income: $201.1M; DOWN from $213.3M YoY
🔹 Net Income: $184.7M; DOWN from $196.8M YoY
🔹 Subscription Gross Margin: 80% (vs. 81% YoY)
Strategic & Operational Highlights
🔸 Share repurchase program authorized up to $1B
🔸 Falcon Flex total deal value exceeded $3.2B; up 6x YoY
🔸 Sustained 97% gross retention, strong net retention
🔸 Achieved FedRAMP High Authorization
🔸 Delivered Falcon Privileged Access module and Charlotte AI Agentic Workflows
🔸 Launched new Exposure Management tools and AI risk solutions
🔸 Expanded strategic partnership with Microsoft and Google Cloud
🔸 Named Google Cloud 2025 Security Partner of the Year
🔸 Recognized in multiple 2025 industry radar reports as a Leader in XDR, ITDR, and Runtime Security
CEO George Kurtz Commentary
🔸 “Strong Q1 led by record large-deal momentum and adoption of Falcon as the platform of choice for the AI era. Our innovation and scale push us toward $10B in ARR.”
CFO Burt Podbere Commentary
🔸 “We exceeded expectations on ARR and earnings. Falcon Flex expansion and pipeline strength reinforce our confidence in accelerating ARR and margin expansion in H2 FY26.”
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$CRWD | CrowdStrike Q1 Earnings Highlights
🔹 Revenue: $1.10B (Est. $1.10B) 🟡; UP +20% YoY
🔹 Adj EPS: $0.73 (Est. $0.66) 🟢
🔸 Share repurchase program authorized up to $1B
FY26 Guidance
🔹 Revenue: $4.74B–$4.81B (Est. $4.79B) 🟡
🔹 Adj EPS: $3.44–$3.56 (Est. $3.45) 😐
🔹 Adj Operating Income: $970.8M–$1.01B
🔹 Adj Net Income: $878.7M–$909.7M
🔹 Non-GAAP Tax Rate: 22.5%
🔹 Weighted Avg Diluted Shares: 256M
Q2 Guidance
🔹 Revenue: $1.1447B–$1.1516B
🔹 Adj EPS: $0.82–$0.84
🔹 Adj Operating Income: $226.9M–$233.1M
🔹 Adj Net Income: $209.1M–$213.8M
🔹 Weighted Avg Diluted Shares: 255M
Other Key Q1 Metrics:
🔹 Subscription Revenue: $1.05B; UP +20% YoY
🔹 Net New ARR: $193.8M
🔹 Ending ARR: $4.44B; UP +22% YoY
🔹 Cash Flow from Operations: $384.1M (Record High)
🔹 Free Cash Flow: $279.4M; DOWN from $322.5M YoY
🔹 Cash & Cash Equivalents: $4.61B
Q1 Non-GAAP Profitability Metrics:
🔹 Operating Income: $201.1M; DOWN from $213.3M YoY
🔹 Net Income: $184.7M; DOWN from $196.8M YoY
🔹 Subscription Gross Margin: 80% (vs. 81% YoY)
Strategic & Operational Highlights
🔸 Share repurchase program authorized up to $1B
🔸 Falcon Flex total deal value exceeded $3.2B; up 6x YoY
🔸 Sustained 97% gross retention, strong net retention
🔸 Achieved FedRAMP High Authorization
🔸 Delivered Falcon Privileged Access module and Charlotte AI Agentic Workflows
🔸 Launched new Exposure Management tools and AI risk solutions
🔸 Expanded strategic partnership with Microsoft and Google Cloud
🔸 Named Google Cloud 2025 Security Partner of the Year
🔸 Recognized in multiple 2025 industry radar reports as a Leader in XDR, ITDR, and Runtime Security
CEO George Kurtz Commentary
🔸 “Strong Q1 led by record large-deal momentum and adoption of Falcon as the platform of choice for the AI era. Our innovation and scale push us toward $10B in ARR.”
CFO Burt Podbere Commentary
🔸 “We exceeded expectations on ARR and earnings. Falcon Flex expansion and pipeline strength reinforce our confidence in accelerating ARR and margin expansion in H2 FY26.”
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Wall St Engine
$ASAN | Asana Q1 Earnings Highlights
🔹 Revenue: $187.3M (Est. $185.5M) 🟢; UP +8.6% YoY
🔹 Adj EPS: $0.05 (Est. $0.02) 🟢
Q2'26 Guidance
🔹 Revenue: $192M–$194M (Est. $192.2M) 🟢
🔹 Adj EPS: $0.04–$0.05 (Est. $0.04) 🟢
🔹 Non-GAAP Operating Income: $8M–$10M
🔹 Operating Margin: 4%–5%
🔹 Weighted Avg Shares (Diluted): ~243M
FY26 Guidance
🔹 Revenue: $775M–$790M (Est. $780.1M) 🟢
🔹 Adj EPS: $0.22 (Est. $0.19) 🟢
🔹 Operating Margin: ≥5.5%
🔹 Weighted Avg Shares (Diluted): ~243M
Customer & Retention Metrics
🔹 Core Customers (>$5K ARR): 24,297; UP +10% YoY
🔹 $100K+ Customers: 728; UP +20% YoY
🔹 Net Retention Rate (Overall): 95%
🔹 Net Retention (Core Customers): 96%
🔹 Net Retention ($100K+ Customers): 95%
Strategic Highlights
🔸 AI Studio surpassed $1M in ARR in its first quarter post-launch
🔸 Largest subscription agreement in company history signed post-Q1: $100M+ over 3 years
🔸 Share repurchase authorization increased by $100M; total available: $156M
🔸 Appointed Marc Boroditsky (ex-Twilio, Cloudflare) to Board of Directors
🔸 Recognized as a Leader in Forrester Wave: Collaborative Work Management Q2’25
🔸 Top ratings in Gartner Voice of the Customer (4.5/5 in Adaptive Project Management)
🔸 Winner at 2025 Webby Awards – Apps & Software (Work, Productivity & Collaboration)
AI & Innovation
🔸 Launched AI Studio Plus and Smart Workflow Gallery
🔸 Hosted 15+ AI Studio training sessions with 4,000+ customer participants
🔸 Released Work Innovation Lab report: Crossing the 5 AI Chasms to guide enterprises on AI scaling
CEO Dustin Moskovitz Commentary
🔸 “Just months after launch, AI Studio has surpassed $1M in ARR. Early customer success confirms its transformative potential and validates Asana’s leadership in human + AI coordination.”
CFO Sonalee Parekh Commentary
🔸 “This was a milestone quarter—our first of non-GAAP operating profitability. We’re raising margin guidance for FY26, showing our commitment to efficient, durable growth despite macro uncertainty.”
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$ASAN | Asana Q1 Earnings Highlights
🔹 Revenue: $187.3M (Est. $185.5M) 🟢; UP +8.6% YoY
🔹 Adj EPS: $0.05 (Est. $0.02) 🟢
Q2'26 Guidance
🔹 Revenue: $192M–$194M (Est. $192.2M) 🟢
🔹 Adj EPS: $0.04–$0.05 (Est. $0.04) 🟢
🔹 Non-GAAP Operating Income: $8M–$10M
🔹 Operating Margin: 4%–5%
🔹 Weighted Avg Shares (Diluted): ~243M
FY26 Guidance
🔹 Revenue: $775M–$790M (Est. $780.1M) 🟢
🔹 Adj EPS: $0.22 (Est. $0.19) 🟢
🔹 Operating Margin: ≥5.5%
🔹 Weighted Avg Shares (Diluted): ~243M
Customer & Retention Metrics
🔹 Core Customers (>$5K ARR): 24,297; UP +10% YoY
🔹 $100K+ Customers: 728; UP +20% YoY
🔹 Net Retention Rate (Overall): 95%
🔹 Net Retention (Core Customers): 96%
🔹 Net Retention ($100K+ Customers): 95%
Strategic Highlights
🔸 AI Studio surpassed $1M in ARR in its first quarter post-launch
🔸 Largest subscription agreement in company history signed post-Q1: $100M+ over 3 years
🔸 Share repurchase authorization increased by $100M; total available: $156M
🔸 Appointed Marc Boroditsky (ex-Twilio, Cloudflare) to Board of Directors
🔸 Recognized as a Leader in Forrester Wave: Collaborative Work Management Q2’25
🔸 Top ratings in Gartner Voice of the Customer (4.5/5 in Adaptive Project Management)
🔸 Winner at 2025 Webby Awards – Apps & Software (Work, Productivity & Collaboration)
AI & Innovation
🔸 Launched AI Studio Plus and Smart Workflow Gallery
🔸 Hosted 15+ AI Studio training sessions with 4,000+ customer participants
🔸 Released Work Innovation Lab report: Crossing the 5 AI Chasms to guide enterprises on AI scaling
CEO Dustin Moskovitz Commentary
🔸 “Just months after launch, AI Studio has surpassed $1M in ARR. Early customer success confirms its transformative potential and validates Asana’s leadership in human + AI coordination.”
CFO Sonalee Parekh Commentary
🔸 “This was a milestone quarter—our first of non-GAAP operating profitability. We’re raising margin guidance for FY26, showing our commitment to efficient, durable growth despite macro uncertainty.”
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Wall St Engine
$HPE | Hewlett Packard Enterprise Q2 Earnings Highlights
🔹 Revenue: $7.63B (Est. $7.46B) 🟢; UP +6% YoY
🔹 Adj EPS: $0.38 (Est. $0.32) 🟢
🔹 Adj. Gross Margin: 29.4%; DOWN 370bps YoY
🔹 ARR: $2.2B; UP +46% YoY
Q3 Guidance
🔹 Revenue: $8.2B–$8.5B (Est. $8.23B) 🟡
🔹 Adj EPS: $0.40–$0.45 (Est. $0.42) 🟡
FY25 Guidance
🔹 Revenue Growth: +7% to +9% YoY
🔹 Adj EPS: $1.78–$1.90 (Est. $1.80) 🟡
🔹 Free Cash Flow: ~$1B
Q1 Segment Revenue:
🔹 Server Revenue: $4.1B; UP +6% YoY
• Operating Margin: 5.9% (vs. 11.0% YoY)
🔹 Intelligent Edge Revenue: $1.2B; UP +7% YoY
• Operating Margin: 23.6% (vs. 21.8% YoY)
🔹 Hybrid Cloud Revenue: $1.5B; UP +13% YoY
• Operating Margin: 5.4% (vs. 1.0% YoY)
🔹 Financial Services Revenue: $856M; DOWN -1.3% YoY
• Operating Margin: 10.4% (vs. 9.3% YoY)
• Net Portfolio Assets: $13.3B; UP +0.9% YoY
• ROE: 17.5% (DOWN 0.5pp YoY)
Capital Returns:
🔹 Free Cash Flow: -$847M; DOWN $1.46B YoY
🔹 Operating Cash Flow: -$461M
🔹 $221M returned to shareholders via dividends and buybacks
🔹 Declared $0.13/share dividend payable July 17, 2025
CEO Antonio Neri Commentary
🔸 "We delivered solid performance across all segments, navigating a dynamic macro environment with discipline. Our strategy and innovation remain focused on enhancing shareholder value."
CFO Marie Myers Commentary
🔸 "Q2 saw YoY revenue growth across Server, Intelligent Edge, and Hybrid Cloud. We're streamlining operations to drive efficiencies and support long-term execution."
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$HPE | Hewlett Packard Enterprise Q2 Earnings Highlights
🔹 Revenue: $7.63B (Est. $7.46B) 🟢; UP +6% YoY
🔹 Adj EPS: $0.38 (Est. $0.32) 🟢
🔹 Adj. Gross Margin: 29.4%; DOWN 370bps YoY
🔹 ARR: $2.2B; UP +46% YoY
Q3 Guidance
🔹 Revenue: $8.2B–$8.5B (Est. $8.23B) 🟡
🔹 Adj EPS: $0.40–$0.45 (Est. $0.42) 🟡
FY25 Guidance
🔹 Revenue Growth: +7% to +9% YoY
🔹 Adj EPS: $1.78–$1.90 (Est. $1.80) 🟡
🔹 Free Cash Flow: ~$1B
Q1 Segment Revenue:
🔹 Server Revenue: $4.1B; UP +6% YoY
• Operating Margin: 5.9% (vs. 11.0% YoY)
🔹 Intelligent Edge Revenue: $1.2B; UP +7% YoY
• Operating Margin: 23.6% (vs. 21.8% YoY)
🔹 Hybrid Cloud Revenue: $1.5B; UP +13% YoY
• Operating Margin: 5.4% (vs. 1.0% YoY)
🔹 Financial Services Revenue: $856M; DOWN -1.3% YoY
• Operating Margin: 10.4% (vs. 9.3% YoY)
• Net Portfolio Assets: $13.3B; UP +0.9% YoY
• ROE: 17.5% (DOWN 0.5pp YoY)
Capital Returns:
🔹 Free Cash Flow: -$847M; DOWN $1.46B YoY
🔹 Operating Cash Flow: -$461M
🔹 $221M returned to shareholders via dividends and buybacks
🔹 Declared $0.13/share dividend payable July 17, 2025
CEO Antonio Neri Commentary
🔸 "We delivered solid performance across all segments, navigating a dynamic macro environment with discipline. Our strategy and innovation remain focused on enhancing shareholder value."
CFO Marie Myers Commentary
🔸 "Q2 saw YoY revenue growth across Server, Intelligent Edge, and Hybrid Cloud. We're streamlining operations to drive efficiencies and support long-term execution."
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App Economy Insights
$CRWD CrowdStrike Q1 FY26:
📊 ARR +22% Y/Y to $4.44B.
📈 Net new ARR $194M (+5% Q/Q).
• Revenue +20% to $1.1B ($10M miss).
• Non-GAAP EPS $0.73 ($0.07 beat).
• FY26 revenue guide ~$4.78B (unchanged).
• FY26 adjusted EPS ~$3.50 ($0.05 beat). https://t.co/2chpSEyqVP
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$CRWD CrowdStrike Q1 FY26:
📊 ARR +22% Y/Y to $4.44B.
📈 Net new ARR $194M (+5% Q/Q).
• Revenue +20% to $1.1B ($10M miss).
• Non-GAAP EPS $0.73 ($0.07 beat).
• FY26 revenue guide ~$4.78B (unchanged).
• FY26 adjusted EPS ~$3.50 ($0.05 beat). https://t.co/2chpSEyqVP
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Offshore
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Quiver Quantitative
UPDATE: We recently posted a report on a purchase of Amphenol stock by Representative Byron Donalds.
It caught our attention because we'd never seen him trade the stock before.
They released a strong earnings report right after his trade.
The stock has now risen 42% since. https://t.co/SvNdPpmL07
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UPDATE: We recently posted a report on a purchase of Amphenol stock by Representative Byron Donalds.
It caught our attention because we'd never seen him trade the stock before.
They released a strong earnings report right after his trade.
The stock has now risen 42% since. https://t.co/SvNdPpmL07
tweet
Offshore
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Wall St Engine
$AMC is adding a new “PLATINUM SPOT” ad right before movies start, starting July 1, as part of a deal with National CineMedia. It’s a revenue-sharing move as the company tries to recover from a rough start to 2025—its weakest since 1996, excluding the pandemic. https://t.co/HHlJb6tVS5
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$AMC is adding a new “PLATINUM SPOT” ad right before movies start, starting July 1, as part of a deal with National CineMedia. It’s a revenue-sharing move as the company tries to recover from a rough start to 2025—its weakest since 1996, excluding the pandemic. https://t.co/HHlJb6tVS5
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Offshore
Video
The All-In Podcast
Miami Mayor's Three Step Formula that Made It the Happiest and Healthiest City in America
@FrancisSuarez explains:
" The formula for success is simple."
1) Keep taxes low
2) Keep people safe
3) Lean into innovation
"We were ranked the happiest city in America, the healthiest city in America."
"I lowered taxes to the lowest level in history, and we've seen 140% growth in nine years."
"So the economy is robust, we have the lowest unemployment in America, we have the highest median wage growth in America."
"Frankly, if you're happy, you're healthy and you're working, you're probably not homeless."
"And I took the city in 2009, as a councilman, out of bankruptcy."
"We decided not to raise taxes. We cut costs. We didn't let anyone go, but we had tiered salary cuts, pension reform, and we balanced our budget."
"And we had 10 years of prosperity. And that prosperity led to a tripling of the size of our government."
"So we went from a $500M government to a $1.5B government while lowering taxes."
"When you have a place where there's prosperity, and where people are investing, and where people are employed, there's not as many social problems. So they're not out there killing people."
"In the 1980s, we were one of the murder capitals of America, and we're now one of the safest big cities in America."
"This formula for success would seem simple."
"Other cities are getting it wrong. Completely backwards, right?"
"Their taxes are high, it's not safe, and they're rejecting innovation."
Thanks to our partners for making this happen:
@okx: https://t.co/FLQhEyDxlx
@circle: https://t.co/p9sT1mo502
tweet
Miami Mayor's Three Step Formula that Made It the Happiest and Healthiest City in America
@FrancisSuarez explains:
" The formula for success is simple."
1) Keep taxes low
2) Keep people safe
3) Lean into innovation
"We were ranked the happiest city in America, the healthiest city in America."
"I lowered taxes to the lowest level in history, and we've seen 140% growth in nine years."
"So the economy is robust, we have the lowest unemployment in America, we have the highest median wage growth in America."
"Frankly, if you're happy, you're healthy and you're working, you're probably not homeless."
"And I took the city in 2009, as a councilman, out of bankruptcy."
"We decided not to raise taxes. We cut costs. We didn't let anyone go, but we had tiered salary cuts, pension reform, and we balanced our budget."
"And we had 10 years of prosperity. And that prosperity led to a tripling of the size of our government."
"So we went from a $500M government to a $1.5B government while lowering taxes."
"When you have a place where there's prosperity, and where people are investing, and where people are employed, there's not as many social problems. So they're not out there killing people."
"In the 1980s, we were one of the murder capitals of America, and we're now one of the safest big cities in America."
"This formula for success would seem simple."
"Other cities are getting it wrong. Completely backwards, right?"
"Their taxes are high, it's not safe, and they're rejecting innovation."
Thanks to our partners for making this happen:
@okx: https://t.co/FLQhEyDxlx
@circle: https://t.co/p9sT1mo502
tweet
Wall St Engine
Today's Key Events (All EST) — 06/04/2025
All day: Trump's Offer Request Deadline (Tentative)
07:00: US MBA Mortgage Applications
08:15: US ADP Employment
08:30: Fed's Bostic & Cook
09:45: US S&P Services PMI
10:00: US ISM Services PMI
14:00: Fed's Beige Book
Before Open 👇
06:30: Dollar Tree $DLTR
06:30: THOR Industries $THO
06:50: Genesco $GCO
07:00: REV Group $REVG
07:30: Sprinklr $CXM
07:30: Webster Financial $WBS
After Hours 👇
04:00: $FIVE Below
04:05: MongoDB $MDB
04:05: ChargePoint $CHPT
04:05: Verint Systems $VRNT
04:05: Planet Labs $PL
04:05: BARK $BARK
04:05: Greif $GEF
04:05: Tilly's $TLYS
04:15: $PVH
05:00: Descartes Systems Group $DSGX
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Today's Key Events (All EST) — 06/04/2025
All day: Trump's Offer Request Deadline (Tentative)
07:00: US MBA Mortgage Applications
08:15: US ADP Employment
08:30: Fed's Bostic & Cook
09:45: US S&P Services PMI
10:00: US ISM Services PMI
14:00: Fed's Beige Book
Before Open 👇
06:30: Dollar Tree $DLTR
06:30: THOR Industries $THO
06:50: Genesco $GCO
07:00: REV Group $REVG
07:30: Sprinklr $CXM
07:30: Webster Financial $WBS
After Hours 👇
04:00: $FIVE Below
04:05: MongoDB $MDB
04:05: ChargePoint $CHPT
04:05: Verint Systems $VRNT
04:05: Planet Labs $PL
04:05: BARK $BARK
04:05: Greif $GEF
04:05: Tilly's $TLYS
04:15: $PVH
05:00: Descartes Systems Group $DSGX
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