Offshore
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Hidden Value Gems
Fantastic reminder of the importance of focus in any endeavour.
A 30-yo Nike founder working 6 days as an auditor and weekends, nights and holidays on his startup 👇🏼 https://t.co/Uhz637r6RP
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Fantastic reminder of the importance of focus in any endeavour.
A 30-yo Nike founder working 6 days as an auditor and weekends, nights and holidays on his startup 👇🏼 https://t.co/Uhz637r6RP
Almost a six-hour flight ahead, how far will I get here? 😉
$NKE https://t.co/Ttq2GlVwup tweet
Offshore
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Quiver Quantitative
🚨 Caught another politician making a suspicious trade around earnings.
Senator Katie Britt sold all her stock in OneWater, $ONEW, last week.
The company just released a poor earnings report, sending the stock plummeting.
It has now fallen 19% since Britt's sale. https://t.co/CnVaTHIEDh
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🚨 Caught another politician making a suspicious trade around earnings.
Senator Katie Britt sold all her stock in OneWater, $ONEW, last week.
The company just released a poor earnings report, sending the stock plummeting.
It has now fallen 19% since Britt's sale. https://t.co/CnVaTHIEDh
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Kaushik
Citi on $CFLT
A respectable 3% total revenue beat in the June Q and solid sequential cloud growth was more than offset by a reiteration of full year targets implying a 3% cut to Q4 revenue growth. Beyond the implicit guidance cut, several key indicators made us incrementally more cautious, including a 5pt QoQ drop in NRR, PCS revenue (arguably cleaner indicator of on-prem biz) declining QoQ while bookings slowed another 10 points. The explanation around cloud optimizations ramping at digital native customers in June is logical, though this was different than what we heard from MSFT (EMEA softness). With cautious partner conversations, which suggested several large marquee, digital native customers were having Issues ramping up consumption (2023 data point) and more recently a rise in competitive displacements, we’re worried issues are company specific and indicate further pricing/commoditization pressure. We further trim below consensus estimates and reiterate Neutral/High-Risk rating dropping TP to $24.
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Citi on $CFLT
A respectable 3% total revenue beat in the June Q and solid sequential cloud growth was more than offset by a reiteration of full year targets implying a 3% cut to Q4 revenue growth. Beyond the implicit guidance cut, several key indicators made us incrementally more cautious, including a 5pt QoQ drop in NRR, PCS revenue (arguably cleaner indicator of on-prem biz) declining QoQ while bookings slowed another 10 points. The explanation around cloud optimizations ramping at digital native customers in June is logical, though this was different than what we heard from MSFT (EMEA softness). With cautious partner conversations, which suggested several large marquee, digital native customers were having Issues ramping up consumption (2023 data point) and more recently a rise in competitive displacements, we’re worried issues are company specific and indicate further pricing/commoditization pressure. We further trim below consensus estimates and reiterate Neutral/High-Risk rating dropping TP to $24.
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Kaushik
$TEAM
Q4 EPS $0.66 vs $0.56 Est
Revenue $1.13B vs $1.08B Est
GUIDANCE:
Q1 2025 revenue $1.149B-1.157B vs $1.6B Est
- Cloud revenue growth YoY is expected to be approximately 27.0%.
- Data Center revenue growth YoY is expected to be approximately 35.0%.
- Other revenue growth YoY is expected to be approximately 13.0%.
- Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
- Operating margin is expected to be approximately (7.0%) on a GAAP basis and approximately 19.0% on a non-GAAP basis.
Fiscal Year 2025:
- Total revenue growth YoY is expected to be approximately 16.0%.
- Cloud revenue growth YoY is expected to be approximately 23.0%.
- Data Center revenue growth YoY is expected to be approximately 20.0%.
- Other revenue growth YoY is expected to be approximately 5.0%.
- Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
- Operating margin is expected to be approximately (6.0%) on a GAAP basis and approximately 21.5% on a non-GAAP basis.
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$TEAM
Q4 EPS $0.66 vs $0.56 Est
Revenue $1.13B vs $1.08B Est
GUIDANCE:
Q1 2025 revenue $1.149B-1.157B vs $1.6B Est
- Cloud revenue growth YoY is expected to be approximately 27.0%.
- Data Center revenue growth YoY is expected to be approximately 35.0%.
- Other revenue growth YoY is expected to be approximately 13.0%.
- Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
- Operating margin is expected to be approximately (7.0%) on a GAAP basis and approximately 19.0% on a non-GAAP basis.
Fiscal Year 2025:
- Total revenue growth YoY is expected to be approximately 16.0%.
- Cloud revenue growth YoY is expected to be approximately 23.0%.
- Data Center revenue growth YoY is expected to be approximately 20.0%.
- Other revenue growth YoY is expected to be approximately 5.0%.
- Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a non-GAAP basis.
- Operating margin is expected to be approximately (6.0%) on a GAAP basis and approximately 21.5% on a non-GAAP basis.
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