1/8 $OSCR Latest Results
Headline Results
Q2 revenue: $2.86B (+29% YoY)

Membership: 2.03M (+28% YoY)

MLR: 91.1% (up 12 pts YoY, driven by higher market morbidity)

Loss from operations: $(230M); Adj. EBITDA: $(199M)

Company reaffirmed full-year 2025 guidance 2/8 $OSCR Latest Results
Revenue & Membership Trends
Revenue growth driven by strong retention, above-market open enrollment, & ongoing SEP gains

2M+ members, outpacing market growth

Management expects membership growth to moderate as SEP eligibility narrows in H2

1/8
$MSTR
Latest Results
Historic Q2 2025 for MicroStrategy
• $14B GAAP operating income (record high)
• $10B net income, EPS of $32.60 (highest in company history)
• Bitcoin holdings: 628,791 BTC (3% of all BTC in existence)
• Market cap: $112B+; now a top-100 US public company
• $18.3B capital raised YTD; 4 preferred offerings launched 2/8
$MSTR
Revenue & Earnings Trends 📈
2025 Momentum
• Q2 driven by rising BTC prices & new FASB fair value accounting
• YTD: $8.1B operating income, $5.7B net income, EPS $19.43
• Record “Bitcoin per Share” (BPS): 39,716 Satoshis (YTD), up from 26,752 in 2021
• BTC yield: 25% YTD (full-year target already met)

1/8
$AMZN
Latest Results
Headline Numbers
Q2 net sales: $167.7B (+13% y/y, +12% ex-FX)
Net income: $18.2B ($1.68/share, +35% y/y)
Operating income: $19.2B (+31% y/y)

Free cash flow (TTM): $18.2B (down sharply y/y)

North America: $100.1B sales (+11%), $7.5B op. income

AWS: $30.9B sales (+17.5%), $10.2B op. income
📈 Solid revenue growth, margin expansion, and robust earnings. 2/8
$AMZN
Latest Results
Revenue & Segments
North America: $100.1B sales, 7.5% op margin (up 190bps y/y)
International: $36.8B sales (+16% y/y; +11% ex-FX), op income $1.5B (4.1% margin, up 320bps y/y)
AWS: $30.9B sales (+17.5%), $10.2B op income

Advertising: $15.7B revenue (+22% y/y)

Prime Day: Biggest ever—record sales, billions saved, best 3P seller results to date
🛒 All major segments contributed, international margins improved, ads remain a key profit driver.

1/8
$AAPL
Latest Results
Headline Results
• Q3 FY25 revenue: $94.0B (+10% YoY, new June record)
• Diluted EPS: $1.57 (+12% YoY, June record)
• Net income: $23.4B
• Double-digit growth in iPhone, Mac & Services
• Revenue up in every geographic segment
• Board declared $0.26/share dividend, payable Aug 14 2/8
$AAPL
Latest Results
Revenue Trends
• iPhone: $44.6B (+13% YoY, June quarter record)
◦ Strong global upgraders, all-time installed base high
◦ Emerging markets led with double-digit growth
• Mac: $8.0B (+15% YoY)
◦ Driven by M4 MacBook Air; record upgraders
• iPad: $6.6B (-8% YoY, tough compare vs. prior launches)
• Wearables/Home/Accessories: $7.4B (-9% YoY)

1/20 📱 Alphabet delivered a standout Q2 2025: revenue up 14 % to $96.4 B, operating income up 14 %, net income up 19 %. AI‑driven momentum across Search, YouTube, Cloud and subscriptions powered the quarter. $GOOGL 2/20 Google Services remains the cash cow: revenue rose 12 % to $82.5 B. Search & other generated $54.2 B (+12 %), YouTube ads $9.8 B (+13 %), and subscriptions/platforms/devices $11.2 B (+20 %). $GOOGL

1/ $SOFI SoFi Technologies, Inc. Presents at Goldman Sachs Communacopia & Technology Conference

Evolution of SoFi Platform

Anthony Noto discusses the evolution of SoFi from a student lending platform to a comprehensive financial services and tech platform.
He emphasizes the mission of helping people achieve financial success by making better decisions throughout their lives.
The strategy includes offering a wide range of financial products and leveraging technology for innovation and cost-efficiency.
2/ $SOFI

Financial Services Productivity Loop and Member Growth

Anthony Noto explains the Financial Services Productivity Loop, focusing on building best-of-breed products that work better together.
The typical member journey involves starting with top-of-the-funnel products like Relay and SoFi Money, leading to cross-buying into other products such as loans and credit cards.
Relay and SoFi Money are highlighted as key contributors to cross-buying, and the use of data to personalize member experiences is discussed.

1/ $MRVL Marvell Technology Earnings Call Key Highlights:

Company Updates and Announcements:

Release of Orion, an 800-gig coherent optical DSP, aimed at enhancing Marvell's leadership in coherent technology in areas such as carrier optical transport and data center interconnects (DCI).
Introduction of the COLORZ 800 platform, Marvell's third generation of DCI modules, which boasts twice the bandwidth at 30% less cost per bit.
Unveiling of a 5-nanometer multi-gigabit PHY platform for enterprise networking, offering doubled performance at half the power.
Launch of the industry's highest capacity automotive central Ethernet switch, catering to next-generation vehicles and offering advanced security features. 2/ $MRVL

Financial Performance:

Q2 fiscal 2024 revenue stood at $1.34 billion.
Non-GAAP earnings per share was $0.33.
Strong performance attributed to growing demand from AI applications and efficient cost reduction measures.

1/ $SNOW Snowflake Earnings Call Key Highlights:

Financial Performance:

Q2 product revenue grew 37% year-over-year, reaching $640 million. Non-GAAP product gross margin expanded to 78%. Non-GAAP adjusted free cash flow was $88 million, indicating a 50% year-over-year growth.
Remaining performance obligations grew 30% year-over-year to $3.5 billion. 57% of this is expected to be recognized as revenue within the next 12 months.
Guidance for the third quarter anticipates product revenues between $670 million and $675 million, marking a 28-29% year-over-year growth. For fiscal 2024, product revenues are forecasted at about $2.6 billion, representing a year-over-year growth of roughly 34% 2/ $SNOW

Product and Market Developments:

Generative AI is gaining traction, emphasizing that a strong data strategy is foundational to an effective AI strategy.
Snowflake reported a presence with 639 Global 2000 customers, and as of Q2, 26% of its customers were data sharing.
The company launched Document AI in private preview, allowing natural language inquiries of unstructured data, such as contracts or invoices.
Snowflake container services integrate large language models and the company announced Snowpark container services. Moreover, Iceberg tables are set to expand Snowflake's data lake capabilities.
At Summit, Snowflake introduced native apps in public preview and now boasts over 25 native application providers.

1/ $AMZN Amazon Earnings Call Key Highlights:

Fulfillment and Stores Business:

Regionalization Efforts: In an ongoing effort to lower costs, Amazon has restructured its fulfillment network from 1 national network into 8 regional networks. This has led to a 20% reduction in… https://t.co/c1V62bpmL2twitter.com/i/web/status/1…
2/ $AMZN

AWS Business:

Growth and Innovation: AWS remains the clear leader in cloud infrastructure, with 12% year-over-year growth in Q2.

AWS continues to innovate with custom CPU chips like Graviton and AI chips like Trainium and Inferentia, leading to better price… twitter.com/i/web/status/1…

1/ $LILA Liberty Latin America Earnings Call Key Highlights:

Liberty Latin America's Q1 Performance:

CEO Balan Nair reported strong Q1 results, with 65,000 new subscribers across high-speed fixed internet and mobile postpaid, and a reported adjusted OIBDA of $407 million, in… twitter.com/i/web/status/1… 2/ $LILA

Regional Highlights:

In the Caribbean, internet additions were strong, reflecting recovering economies after the COVID-19 impact. The company saw subscriber additions and revenue growth, despite a decline in B2B revenue due to strategic changes.

In Panama, all product… twitter.com/i/web/status/1…

1/ $LSXMK The Liberty SiriusXM Group Earnings Call Key Highlights:

Liberty SiriusXM Group

The company is working towards simplifying and deleveraging its balance sheet, having raised $575 million of 3.75% LSXM converts, which were used to repurchase LSXM debt and repay the… twitter.com/i/web/status/1… 2/ $LSXMK

Live Nation

Live Nation had a successful quarter with growth in live events across all segments, converting 59% of its AOI into $190 million of free cash flow. They anticipate a record year with around 90 million tickets sold for shows year-to-date and plan to manage… twitter.com/i/web/status/1…

1/ $PTON displays a mixed bag with revenue fluctuating between $616.5M in Q1 2023 to $1,133.9M in Q3 2022. While net income remains negative, an improvement in operational efficiency could set the trajectory towards profitability. #Investing 2/ Despite gross margins standing at 24.5%, $PTON's EBIT Margin remains negative at -36.2%. Rising revenues can be encouraging, but the negative bottom line needs scrutiny. #Finance

1/ Despite a net income that swung from -$30.05M in Q3 2021 to -$34.42M in Q1 2023, $SOFI's revenue shows a steady upward trajectory, going from $269.61M to a projected $463.75M. Turnaround to profitability could be key. #Investing 2/ $SOFI holds a high gross margin of 80.4%, indicative of efficient operations. Though the net income remains negative, rising revenues imply potential. Always remember, the bottom line matters. #Finance

1/ With steady revenue growth from $31.7M in Q3 2022 to $52.7M in Q1 2024, $PL is navigating in the right direction despite negative net income and cash flow. Improved efficiency could be the key to profitability. #Investing 2/ $PL maintains a steady gross margin at 51.8%, a positive sign amidst a challenging negative LTM EBIT Margin of -84.7%. Growing revenues suggest future potential but keeping an eye on the bottom line is crucial. #Finance

1/ $NIO Earnings Call Key Highlights:

Sales and Deliveries

In Q1 2023, NIO delivered 31,041 smart electric vehicles, marking a 20.5% YoY increase. The company expects to deliver between 23,000 and 25,000 units in Q2.

Several new models have been introduced, including the… twitter.com/i/web/status/1… 2/ $NIO

Recognition and Innovation

NIO's safety and quality have been recognized by authoritative institutions like the China Insurance Automobile Safety Index (CIASI) and J.D. Power.

The company is also working on Banyan 2.0, a smart system upgrade featuring over 120 new… twitter.com/i/web/status/1…

1/ $CRBL Cracker Barrel Old Country Store Earnings Call Key Highlights

Financial Performance:

The company reported total sales growth of 5.4% and an adjusted operating income margin rate of 4.1%. However, the results were below expectations due to a meaningful traffic decline,… twitter.com/i/web/status/1… 2/ $CRBL

Operations and Initiatives:

Despite the headwinds, the company outperformed the Black Box casual dining index for the fourth consecutive quarter. The team remains focused on operational excellence, staffing and retention, and improving the guest experience.

The… twitter.com/i/web/status/1…

1/ $ITX $IDEXF Inditex Earnigns Call Key Highlights:

Financial Performance and Business Strategy:

Inditex achieved robust operating performance in Q1 2023, with sales growth of 13% and a net income increase of 54% to EUR 1.17 billion.

This success was attributed to four… twitter.com/i/web/status/1… 2/ $ITX $IDEXF

Initiatives and Customer Experience:

Creativity, innovation, design, and quality are the defining features of Inditex's collections. Several key projects were highlighted in 2023, including launching operations in Cambodia, store design updates, and the… twitter.com/i/web/status/1…

1/ $DBI Designer Brands Earnings Call Key Highlights:

Company Performance and Challenges:

The first quarter faced headwinds and was more challenging than expected. Despite this, the team managed inventory levels appropriately across both Retail and Brand segments.

Designer… twitter.com/i/web/status/1… 2/ $DBI

Strategy and Brand Acquisitions:

In response to changing consumer preferences, the company adjusted its strategy, increasing promotional activities and building back clearance inventory.

Designer Brands is encouraged by the progress towards its long-term strategy of… twitter.com/i/web/status/1…

1/ $CANG Cango Earnings Call Key Highlights:

Industry Overview and Cango's Positioning:

In 2022, the automotive industry was slow due to COVID-19. There are signs of recovery in 2023, but the market was weak in the first quarter due to factors like the Spring Festival holiday,… twitter.com/i/web/status/1… 2/ $CANG

Financial Performance:

In the first quarter of 2023, Cango's overall revenue was RMB 540 million, down 31% YoY but up 11% QoQ. 79% of the revenues came from car trading transactions.
The outstanding balance of financing transactions facilitated by Cango reduced from… twitter.com/i/web/status/1…

1/ $AMSWA American Software Earnings Call Key Highlights:

Fourth Quarter Performance and Future Projections:

The company ended the fiscal year strong despite previous delays in deal closures. Gross subscription bookings were at their highest, but economic stress impacted… twitter.com/i/web/status/1… 2/ $AMSWA
Market and Business Dynamics:

Economic uncertainty and potential recession risks have resulted in clients scrutinizing costs, leading to longer collection times and sales cycles. The company's pipeline is still growing, and they have plans to increase conversions… twitter.com/i/web/status/1…

1/ $PL Planet Labs Earnings Call Key Highlights:

Financial Performance and Guidance

In Q1, the company reported $52.7 million in revenue, representing a 31% YoY growth and in line with expectations. They also saw a significant increase in non-GAAP gross margins from 45% to 56%.… twitter.com/i/web/status/1… 2/ $PL

Demand and Opportunities

The company saw the largest quarter for pipeline generation in its history, demonstrating strong demand for its products. It generated a record amount of qualified pipeline of opportunities in Q1, more than double the quarterly average of the… twitter.com/i/web/status/1…