The Daily Earnings Reports Podcast

C3.ai, Inc. (AI) Q3 2024 Earnings Breakdown

Key Highlights:

• Revenue Growth: C3.ai reported total revenue of $94.3 million for the quarter, a 29% increase year-over-year. This growth was primarily driven by a 22% increase in subscription revenue, which accounted for 86% of total revenue.
• "Subscription revenue increased by $14.7 million, or 22%, for the three months ended October 31, 2024, compared to the same period last year."
• Shift to Consumption-Based Pricing: The company continues its transition to a consumption-based pricing model, impacting revenue recognition and remaining performance obligations (RPO).
• "RPO is not necessarily indicative of future revenue growth because it is not applicable to pay-as-you-go consumption pricing agreements."
• Pilot and Trial Activity: C3.ai executed 36 pilots and trials during the quarter, highlighting continued market penetration efforts and customer acquisition activities.
• Strategic Initiatives: The company is focused on expanding its go-to-market ecosystem through strategic partnerships with companies like Baker Hughes, AWS, Microsoft, and GCP.
• "Our strategy with strategic partners is to establish a significant use case and prove the value of our C3 AI Platform, C3 Enterprise AI Applications, and C3 Generative AI with a flagship customer in each industry in which we participate."
• Investment in Generative AI: C3.ai is investing heavily in generative AI technology, aiming to offer customers autonomous AI agents, multimodal model integration, and natural language summarization capabilities.

MongoDB (MDB) Q3 2024 Earnings Breakdown

Key Highlights:

• Strong Revenue Growth: MongoDB achieved a 22% year-over-year increase in total revenue, reaching $529.4 million. This growth was driven by strong demand for MongoDB Atlas, the company's cloud-based database-as-a-service offering.
• Continued MongoDB Atlas Momentum: Atlas revenue accounted for 68% of total revenue during the quarter, reflecting its increasing importance to the company's overall business.
• Net Loss: MongoDB reported a net loss of $9.8 million for the quarter, primarily attributed to ongoing investments in sales and marketing, research and development, and expansion activities.
• Focus on Developer Community: MongoDB continues to prioritize engaging with developers through its free-to-download Community Server and the free tier of MongoDB Atlas, aiming to convert them into paying customers.
• Competitive Landscape: The company faces intense competition from established legacy database providers (IBM, Microsoft, Oracle) and public cloud providers (AWS, GCP, Microsoft Azure) offering database functionalities.

Samsara (IOT) Q3 FY2025 Earnings Breakdown

Key Highlights:

• Q3 Revenue: $322.0 million, up 36% year-over-year
• Ending ARR: $1.349 billion, up 35% year-over-year
• Customers with ARR over $100,000: 2,303, up 38% year-over-year
• Adjusted Free Cash Flow Margin: 10%, a quarterly record
• Data Collection: Samsara platform collects over 10 trillion data points annually

Asana, Inc. (ASAN) Q3 2024 Earnings Breakdown

Key Highlights:

• Revenue Growth: Asana reported revenues of $183.9 million for the quarter, a 10% increase year-over-year. This growth was primarily driven by the addition of new paying customers and a shift in sales mix toward higher-priced subscription plans.
• Net Loss: The company reported a net loss of $57.3 million for the quarter, compared to a net loss of $61.8 million in the prior-year quarter.
• Dollar-Based Net Retention Rate (DBNRR): Asana's overall DBNRR declined to 96% from over 100% in the prior-year quarter. However, DBNRR for Core customers and customers spending over $100,000 annually remained strong at 98% and 99%, respectively.
• Stock Repurchase Program: In June 2024, Asana's board authorized a $150 million stock repurchase program. The company repurchased 4.5 million shares during the quarter for an aggregate purchase price of $55 million.
• Amendment to Credit Facility: Asana amended its November 2022 Senior Secured Credit Facility to adjust covenant levels for upcoming fiscal quarters. The facility is now held by SVB, a division of First Citizens BancShares, Inc.
• CEO Trading Plan: Dustin Moskovitz, Asana's CEO, adopted a Rule 10b5-1 trading arrangement for the purchase of up to 13.5 million shares of Class A common stock.

Rubik (RBRK) Q3 FY2025 Earnings Breakdown

Key Highlights:

• Strong financial performance: Rubrik exceeded guidance across all metrics, demonstrating continued growth and improving efficiency.
• Cyber resilience market leadership: Surpassing $1 billion in Subscription ARR highlights Rubrik's success in capturing the growing cyber resilience market.
• Focus on innovation and partnerships: Rubrik continues to invest in new products and strategic partnerships to expand its offerings and market reach.

• Subscription ARR: Reached $1,002.3 million, a 38% year-over-year increase.
• Revenue: Grew 43% year-over-year to $236.2 million, driven by a 55% increase in subscription revenue.
• Subscription ARR Contribution Margin: Improved significantly to (3)% compared to (14)% in the prior year, demonstrating increasing operating leverage.
• Free Cash Flow: Positive at $15.6 million, showcasing the company's ability to generate cash flow from operations.

GitLab Inc. (GTLB) Q2 FY2025 Earnings Breakdown

Key Highlights:

• Financial Performance: Revenue grew by 31% YoY to $196.0 million in Q3 2025. This growth was driven by strong demand for the DevSecOps platform, new customer acquisitions, expansion within existing customer base, and an increase in customers with over $100,000 in Annual Recurring Revenue (ARR).
• Dollar-Based Net Retention Rate (DBNRR): DBNRR for Q3 2025 was 124%, demonstrating continued success in customer retention and expansion.
• Customers with ARR of $100,000 or More: GitLab saw a significant jump in high-value customers, reaching 1,144 in Q3 2025 compared to 874 in Q3 2024.
• Geographic Revenue: The United States remained the dominant market, contributing 81% of total revenue in Q3 2025.
• Operational Highlights: GitLab continued its tradition of monthly releases, highlighting their commitment to innovation and rapid development cycles.
• Key Business Metrics: GitLab emphasizes DBNRR and the growth in customers with ARR over $100,000 as key indicators of their business health and market penetration.
• JiHu Joint Venture: The variable interest entity, JiHu, contributed $1.9 million and $5.3 million in revenue for the three and nine months ended October 31, 2024, respectively.

UiPath, Inc. (PATH) Q3 FY2025 Earnings Breakdown

Key Highlights:

• Strong Financial Performance: UiPath exceeded expectations for Q3 FY2025, demonstrating continued growth in revenue and ARR, along with positive cash flow.
• Agentic Automation Vision: The company is focusing on a new vision for the future of automation, leveraging AI agents and robots to automate more complex workflows.
• Strategic Partnerships: UiPath announced key partnerships with SAP, Anthropic, and Inflection AI to expand its platform capabilities and reach.
• Focus on Customer Centricity and Efficiency: UiPath is prioritizing customer satisfaction and streamlining operations to drive sustainable growth.

Hewlett Packard Enterprise's (HPE) Q3 2024 Earnings Breakdown

Key Highlights:

• Exceptional Q4 Performance: HPE reported record quarterly revenue in Q4, exceeding full-year expectations for revenue, EPS, and free cash flow.
• Strong Portfolio Performance: HPE's differentiated portfolio across hybrid cloud, AI, and networking drove strong customer demand.
• Pending Juniper Networks Acquisition: The acquisition remains on track to close in early 2025, further strengthening HPE's position in the market.