Zoom reported FY2026 revenue of $4.9 billion and Q3 FY2026 revenue of $1.2 billion. The thesis depends on enterprise retention, Zoom Phone, contact center, AI features, margin durability and cash conversion.
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Clear Secure reported FY2025 revenue of $900.8 million and Q1 2026 revenue of $253.0 million, with the official record tying the thesis to airport-member growth, identity platform expansion, deferred revenue, privacy trust, margin quality and cash conversion.
Xylem reported FY2025 revenue of $9.0 billion and Q1 2026 revenue of $2.1 billion. The thesis depends on water infrastructure demand, utility and industrial capex, margin execution, cash conversion and integration discipline.
Walmart reported FY2026 revenue of $713.2 billion and Q3 FY2026 revenue of $179.5 billion. The thesis depends on grocery traffic, ecommerce profitability, advertising, membership, inventory discipline, labor cost and capital intensity.
Vistra reported FY2025 revenue of $17.74 billion and Q1 2026 revenue of $5.64 billion, with the official record making power prices, hedging, generation reliability, capex and cash conversion the main proof points.
Vertiv reported 2025 revenue of $10.2 billion and Q1 2026 revenue of $2.6 billion. The thesis depends on data-center demand, backlog conversion, margin durability, supply-chain execution, capital discipline and whether AI infrastructure demand stays profitable.
Workday reported FY2026 revenue of $9.55 billion and Q3 FY2026 revenue of $2.43 billion, with the official record tying the thesis to subscription durability, AI product adoption, deferred revenue, margin expansion and cash conversion.
Snowflake reported FY2026 revenue of $4.68 billion and FY2026 operating cash flow of $1.22 billion, but still recorded a GAAP operating loss. The thesis depends on data-cloud consumption, AI workloads, customer expansion, cash conversion and operating leverage.
Starbucks reported FY2025 revenue of $37.2 billion and fiscal Q2 2026 revenue of $9.5 billion. The thesis depends on traffic recovery, store execution, labor costs, China performance, loyalty engagement and margin repair.
Qualys reported FY2025 revenue of $669.1 million and Q1 2026 revenue of $175.6 million. The thesis depends on cloud-security consolidation, subscription retention, free cash flow quality and evidence that the platform can keep expanding beyond vulnerability management.
Qualcomm reported FY2025 revenue of $44.3 billion and fiscal Q2 2026 revenue of $10.6 billion. The thesis depends on handset durability, licensing economics, automotive and IoT diversification, AI edge demand and capital returns.
PayPal reported FY2025 revenue of $33.2 billion and Q1 2026 revenue of $8.4 billion. The thesis depends on branded checkout, Venmo, Braintree quality, transaction margin, buybacks and cash conversion.
NASDAQ
PLTRPalantir: the AI platform story finally has profits, but concentration and expectations still matter
Palantir reported FY2025 revenue of $4.5 billion and Q1 2026 revenue of $1.6 billion. The thesis depends on government durability, commercial AI adoption, operating leverage, customer concentration and cash conversion.
ServiceNow reported FY2025 revenue of $13.3 billion and Q1 2026 revenue of $3.8 billion. The thesis depends on subscription durability, workflow expansion, AI monetization, operating leverage and cash conversion.
Oracle reported FY2025 revenue of $57.4 billion and fiscal Q3 2026 revenue of $17.2 billion. The thesis depends on OCI growth, application durability, capital intensity, debt capacity and cash conversion.
Nike reported FY2025 revenue of $46.3 billion and Q3 FY2026 revenue of $11.3 billion. The thesis depends on product heat, wholesale discipline, China demand, margin repair and cash conversion.
ON Semiconductor reported FY2025 revenue of $6.0 billion and Q1 2026 revenue of $1.5 billion. The thesis depends on auto and industrial demand, utilization, inventory discipline, margin recovery and cash conversion.
Palo Alto Networks reported FY2025 revenue of $9.2 billion and fiscal Q2 2026 revenue of $2.6 billion. The thesis depends on platformization, subscription durability, operating leverage, deferred revenue and cash conversion.
Meta reported FY2025 revenue of $201.0 billion and Q1 2026 revenue of $56.3 billion. The thesis depends on advertising growth, AI infrastructure spend, operating leverage, Reality Labs losses and cash conversion.
Intuit reported FY2025 revenue of $18.8 billion and Q2 FY2026 revenue of $4.7 billion. The thesis depends on tax season execution, small-business retention, AI monetization, operating leverage, cash flow and capital allocation.
Jabil reported FY2025 revenue of $29.8 billion and Q2 FY2026 revenue of $8.3 billion. The thesis depends on cloud and AI hardware demand, manufacturing mix, margin resilience, cash flow, inventory and debt discipline.
IBM reported FY2025 revenue of $67.5 billion and 2026 Q1 revenue of $15.9 billion. The thesis depends on software mix, AI demand, consulting execution, debt discipline and cash conversion.
Hewlett Packard Enterprise reported FY2025 revenue of $34.3 billion and Q1 FY2026 revenue of $9.3 billion. The thesis depends on AI server demand, networking integration, operating margin recovery, cash flow and balance-sheet discipline.
Alphabet reported FY2025 revenue of $307.4 billion and Q1 2026 revenue of $90.2 billion. The thesis depends on Search durability, YouTube, Google Cloud, AI capital intensity, regulatory risk and capital allocation.
Fortinet reported 2025 revenue of $6.8 billion and first-quarter 2026 revenue of $1.8 billion. The thesis depends on billings quality, deferred revenue, platform adoption, operating margin, cash conversion and competition.
GE Aerospace reported FY2025 revenue of $35.3 billion and Q1 2026 revenue of $9.9 billion. The thesis depends on commercial engine services, defense demand, delivery execution, supply-chain discipline and cash conversion.
Elevance reported 2025 revenue of $199.1 billion and first-quarter 2026 revenue of $50.2 billion. The thesis depends on medical-cost control, Medicaid and Medicare trends, commercial pricing, regulation, cash flow and capital allocation.
Electronic Arts reported FY2026 revenue of $7.5 billion, operating income of $1.2 billion and operating cash flow of $2.6 billion. The thesis depends on sports franchises, live services, player engagement, new game execution and disciplined content investment.
Ford reported FY2025 revenue of $187.3 billion, a FY2025 loss, and Q1 2026 revenue of $43.3 billion. The thesis depends on truck franchise resilience, EV losses, hybrid demand, software execution, manufacturing discipline and Ford Credit quality.
Salesforce reported fiscal 2026 revenue of $41.5 billion and nine-month FY2026 revenue of $30.3 billion. The thesis depends on subscription growth, Data Cloud and AI adoption, margin discipline, cash conversion and capital allocation.
Disney reported FY2025 revenue of $94.4 billion and Q2 2026 quarter revenue of $25.2 billion. The thesis depends on parks, streaming profitability, sports economics, content discipline and IP monetization.
Cadence Design Systems reported FY2025 revenue of $5.30 billion and Q1 2026 revenue of $1.47 billion, with the official record tying the thesis to EDA demand, AI infrastructure design complexity, margins, cash conversion and customer concentration risk.
Dell reported fiscal 2026 revenue of $113.5 billion and nine-month FY2026 revenue of $80.2 billion. The thesis turns on AI server demand, infrastructure margin quality, PC cyclicality, working capital and debt reduction.
Datadog reported FY2025 revenue of $3.43 billion and Q1 2026 revenue of $1.01 billion, with the official record tying the thesis to cloud observability demand, AI infrastructure workloads, platform expansion, margin discipline and cash conversion.
Best Buy reported FY2026 revenue of $41.69 billion and FY2026 operating cash flow of $1.96 billion, with the official record tying the thesis to consumer-electronics demand, services, inventory discipline, store productivity and capital returns.
Delta reported 2025 revenue of $63.4 billion and first-quarter 2026 revenue of $15.9 billion. The thesis depends on premium travel demand, loyalty economics, fleet investment, fuel and labor costs, debt and cash conversion.
Boeing is a globally strategic aerospace franchise with FY2025 revenue of $89.5 billion and Q1 2026 revenue of $22.2 billion, but the investment case still turns on production discipline, safety oversight, defense charges and recurring cash generation.
Amazon reported 2025 revenue of $716.9 billion and Q1 2026 revenue of $181.5 billion. The thesis depends on AWS growth, advertising scale, retail margin, fulfillment efficiency and AI capital intensity.
AMD reported 2025 revenue of $34.6 billion and Q1 2026 revenue of $10.3 billion. The thesis depends on data-center AI demand, CPU share, client recovery, gross margin discipline and cash conversion.
Robo.ai is trying to move from a failed smart-EV revenue base into an AI robotics, intelligent hardware and asset platform. The filings show FY2025 revenue of only $0.95 million, a $167.3 million net loss, $4.1 million of cash, $124.6 million of liabilities, negative equity and unresolved going-concern risk.
A filing-led Datavault AI Q1 2026 earnings thesis focused on recognized revenue, tokenization contracts, cash conversion, losses, liquidity, and dilution risk.
American Healthcare REIT has visible senior-housing same-store NOI growth, positive GAAP earnings and raised 2026 normalized FFO guidance, but forward equity settlement, RIDEA operating exposure, Trilogy dependence and capital deployment decide the per-share case.
20/20 Biolabs has a real OneTest cancer-screening revenue base and a fresh Nasdaq listing, but FY2025 losses, negative cash flow, Streeterville financing and resale overhang keep AIDX in a high-risk coverage bucket.
BlockchAIn has a real 40 MW operating data center and an AI/HPC infrastructure pitch, but the latest filings show margin pressure, thin cash, heavy customer and energy-provider concentration, related-party control and non-binding pipeline claims.
AH Realty Trust has turned the former Armada Hoffler platform into a retail and office REIT, with a $562 million multifamily sale agreement, high leased occupancy and a bigger buyback authorization. The proof gate is whether asset sales reduce leverage before refinancing, tenant and office risks overwhelm the reset.
C3.ai ended FY2026 with preliminary revenue inside guidance and a large cash and investments balance, but the latest evidence is dominated by a sharp revenue reset, weak Q3 gross margin, negative free cash flow, a 26% workforce reduction and Thomas Siebel's return as CEO.
AI Infrastructure Acquisition Corp. is a newly public SPAC with $140.5 million in trust, $1.1 million of cash outside trust, no operating revenue, no announced target and an April 6, 2027 deadline. The current thesis is trust math, sponsor incentives and future deal quality.
American Integrity is a newly public but seasoned Florida residential property insurer. The latest filings show 437,308 policies in force, $974.8 million of in-force premium, a 75.0% Q1 combined ratio and a reduced non-catastrophe quota share that lets AII keep more economics and more risk.