“The third quarter was outstanding, with record revenue. Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies.”
2 | Omniverse not Metaverse 😝
“Omniverse was a major theme at GTC…showed what is possible when we can jump into virtual worlds.
…from collaborative design, customer service avatars & video conferencing, to digital twins of factories, processing plants, even entire cities.”
2 | Omniverse - Tip of Iceberg (cont’d)
“Omniverse brings together NVIDIA’s expertise in AI, simulation, graphics and computing infrastructure. This is the tip of the iceberg of what’s to come.”
3 | Omniverse
1) Omniverse Avatar, a platform for generating interactive AI avatars, which connects the company’s technologies in speech AI, computer vision, natural language understanding, recommendation engines and simulation technologies.
3 | Omniverse (cont’d)
2) Omniverse Replicator, a synthetic-data-generation engine that produces physically simulated synthetic data for training deep neural networks.
4 | Strong Initial Reception to Omniverse
“Initial market reception to Omniverse has been incredible, professionals at over 700 Companies are evaluating…More than 70,000 individual creators have downloaded Omniverse, since the open beta launch in December.”
5 | How many Designers globally?
“There are approximately 40 million 3D designers in the global market.”
6 | Chips vs Software
“Chips are enablers, but chips don't create markets software creates markets.”
7 | Enabler in Monetizing AI
“Once you have an ability to that you can open new markets and and we played a very large role in the monetizing artificial intelligence and making it possible for anybody to be able to do it.”
8 | NVIDIA democratising Scientific Computing 💪🏻
“We, our greatest contribution is…I hope when it's often done that we, that we democratized scientific computing.”
9 | Supply Guaranteed
“…we have secured guaranteed supply, very large amount of it, quite a spectacular amount of it from the world's leading foundry in a substrate and packaging and testing certain companies, the integral part of our supply chain.”
10 | Feeling better about Supply Situation
“…feel very good about our supply situation particularly starting in the second half of this year and going forward.”
11 | Driver of Future Higher Gross Margins (Software)
“gross margins right now are largely stable…software is embedded solutions…allowed us to increase our gross margin …look forward long-term software is sold separately..another driver of gross margin increases in future.”
Final Takeaways on NVIDIA $NVDA:
➡️ A rare combination of high growth and profitability even at this scale, changing our world for the better through AI, ML and so much more. Solid quarter. Thesis unchanged. Remains high conviction position. Looking forward to check out GTC.
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Business Metrics
- FY20 108% NRR
- Organic Rev Growth 54% vs 60%
- Cust >$100k Count >1,250 +70% ↗️
- Cust >$100k ACV +85% ↗️ (~40% of rev)
- International Rev $80m ARR (~11%) +80% ↗️
⭐️ Data Moat: Info on 150m business professionals and 100m companies.
1 | ❌📉 Adj EBIT Margin has been steadily declining, and likely to continue for now…
$ZI starting from a position of strength, digest acquisitions, continuing to invest in sales to drive growth, expect LT margins to eventually reverse back higher. For now, growth is priority.
- TPV $1.8b +217% 🚀
- TPV ratio/take-rate 3.8% -30bps QoQ ↘️
- Rev $69m +123% 🚀
- Adj EBITDA $26m +110% 🚀 margin 38% ⭐️ -211bps ↘️
- NG Net Income $20m +129% 🚀 margin 29% ⭐️ +89bps ↗️
- High Net Retention 185% ⭐️
1 | Strong Q3
“We continue to see strong growth across multiple verticals as we see local economies continue to bounce back and global merchants prioritize their efforts in emerging markets.”
2 | $DLO solving the problem of EM payments complexity
- Active Customers 16.8m +20% ↗️ -2%QoQ ↘️
- Active Customers >+20% for 15th quarter ✅
- Net Rev per Active Customer $276 +23% ↗️
- Spend +25% for every customer cohort ✅
- Purchasing categories >6 doubled vs 2y ago ✅
1 | Attractive Korean Market Opportunity
- Users: 37m active internet shoppers vs 16.8m active customers (~2X from here)
- Market: Korea 3rd largest e-commerce ($200bn by 2024) in the world after US and China. growing twice as fast (+20%YoY) as total retail (+10%YoY)