Earnings Week November 7 - November 11
Palantir, Disney, Lemonade, Fiverr, Unity, Roblox, Trade Desk, Rivian, Nio, Figs...
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Palantir
For the transcript and press release click HERE
Q3 Non-GAAP EPS of $0.01 misses by $0.01.
Revenue of $477.88M (+21.9% Y/Y) beats by $2.92M.
US revenue grew 31% Y/Y to $297M; US commercial revenue grew 53% Y/Y; US government revenue grew 23% Y/Y.
Total contract value closed of $1.3B, including US TCV closed of $1.1B.
Customer count grew 66% Y/Y and 11% Q/Q.
US commercial customer count increased 124% Y/Y from 59 customers in Q3 2021 to 132 customers in Q3 2022.
For Q4, the company expects revenue of between $503M - $505M vs. consensus of $506.51M and adjusted income from operations of $78M - $80M.
For full year 2022, the company reaffirms revenue of between $1.9B - $1.902B vs. consensus of $1.90B and adjusted income from operations outlook raised from prior $341M - $343M to $384M to $386M.
Disney
For the transcript and press release click HERE
Disney still holds the title for the worst IR. They don’t even have an email on the page.
Q4 Non-GAAP EPS of $0.30 misses by $0.26.
Revenue of $20.15B (+8.7% Y/Y) misses by $1.29B.
Direct-to-Consumer revenues for the quarter increased 8% to $4.9B.
Segments: Disney Media and Entertainment Distribution of $12.73B; Disney Parks, Experiences and Products $7.43B.
Lemonade
I covered this company on my channel — VIDEO
For the transcript and press release click HERE
Q3 GAAP EPS of -$1.37 misses by $0.01.
Revenue of $74M (+107.3% Y/Y) beats by $9.26M.
Q4 Guidance:
In force premium at December 31, 2022 of $612 - $615 million
Gross earned premium of $147 - $150 million
Revenue of $77 - $80 million vs $80.7M consensus
Adjusted EBITDA loss of ($65) - ($62) million
SBC expense of approximately $16 million
Capital expenditures of approximately $3 million
Fiverr
I covered this company on my channel — VIDEO
For the transcript and press release click HERE
Q3 Non-GAAP EPS of $0.21 beats by $0.16.
Revenue of $82.5M (+11.0% Y/Y) beats by $1.36M.
Active buyers grew to 4.2 million, compared to 4.1 million as of September 30, 2021, an increase of 3% year over year.
Spend per buyer reached $262, compared to $234.
Take rate was 30%, up from 28.4%.
Non-GAAP gross margin in the third quarter of 2022 was 82.8%, a decrease of 160 basis points from 84.4% in the third quarter of 2021.
Adjusted EBITDA in the third quarter of 2022 was $6.6M, compared to $7.3M in the third quarter of 2021.
Q4’22 outlook: Revenue of $79.8M - $85.8M vs. consensus of $83.66M; Adjusted EBITDA of $7.0M - $8.0M and
Full year 2022 guidance of Revenue of $334.0M - $340.0M vs. consensus of $336.5M; Adjusted EBITDA of $22.0M - $23.0M.
Unity
I covered this company on my channel — VIDEO
For the transcript and press release click HERE
Q3 Non-GAAP EPS of -$0.14 beats by $0.01.
Revenue of $322.8M (+12.7% Y/Y) misses by $3.04M.
Create Solutions revenue was $128.6 million, an increase of 54%;
Operate Solutions revenue was $171.7 million, a decrease of 7%;
Strategic Partnerships and Other revenue was $22.6 million, an increase of 28%, each as compared to the third quarter of 2021.1,075 customers each generated more than $100,000 of revenue in the trailing 12 months as of September 30, 2022, compared to 973 as of September 30, 2021.
Dollar-based net expansion rate was 111% as compared to 142% as of September 30, 2021.
Outlook:
Q4 Revenue of $425M-$445M vs $389M consensus, Non-GAAP loss from operations of $5M-$15M
Full year: Revenue of $1,365M-$1,385M from prior outlook of $1.3B-$1.35B vs $1.32B consensus
Non-GAAP loss from operations of $88M-$89M from prior outlook of $95M-$115M
Rivian
For the transcript and press release click HERE
Q3 Non-GAAP EPS of -$1.57 beats by $0.26, GAAP EPS of -$1.88 beats by $0.06.
Revenue of $536M (+53500.0% Y/Y) misses by $18.06M.
In Q3, the company produced 7,363 and delivered 6,584 vehicles. The ramp in production is in line with our expectations despite the challenging supply chain environment.
Based on our latest understanding of the supply chain environment, we are reaffirming our 2022 production guidance of 25,000 total units produced. We are also reaffirming the annual guidance provided during our second quarter earnings call of $(5,450) million in Adjusted EBITDA. We are lowering our Capital Expenditure guidance to $1,750 million due to our streamlined product roadmap and the shift of certain capital expenditures to 2023.
Nio
I covered this company on my channel — VIDEO
For the transcript and press release click HERE
Q3 Non-GAAP EPADS of -$0.30 misses by $0.14.
Revenue of $1.83B (+32.6% Y/Y) beats by $50M.
Vehicle margin was 16.4% compared with 18.0% year ago.
“We achieved solid top line growth in the third quarter of 2022 against a challenging market environment,” added Steven Wei Feng, chief financial officer of NIO. “We aim to consistently enhance the holistic user experience for our global user community by investing in core technology development as well as power network expansion, while continuously improving our operational execution and efficiency.”
Q4 Outlook: Deliveries of vehicles to be between 43,000 and 48,000 vehicles, representing an increase of approximately 71.8% to 91.7% Y/Y
Total revenues to be between RMB17,368M (US$2,442M) and RMB19,225M (US$2,703M), representing an increase of approximately 75.4% to 94.2% Y/Y vs. consensus of $2.96B.
Wix
For the transcript and press release click HERE
Q3 Non-GAAP EPS of $0.06 beats by $0.16.
Revenue of $345.8M (+7.8% Y/Y) beats by $2.33M.
Total revenue on a y/y constant currency basis was $350.8 million, up 10% y/y.
Total bookings in the third quarter of 2022 were $352.5 million, down (6)% y/y.
Total bookings on a y/y constant currency basis were $366.5 million, down (2)% y/y.
Total non-GAAP gross margin in the third quarter of 2022 was 65%.
Expecting a return to non-GAAP operating income profitability in Q4'22, positioning company to achieve FY23 FCF margin targets as well as full year non-GAAP operating income profitability outlined in three-year plan.
For Q4, we expect total revenue to be $349 to $354 million vs. consensus of $351.77M, representing approximately 5 - 6% y/y growth.
For the full year, we now expect revenue to grow 9% y/y vs. estimated growth of 8.9% Y/Y.
We expect to generate positive non-GAAP operating income and FCF (excluding HQ capex) to meaningfully ramp to $47 to $50 million in Q4.
The Trade Desk
For the transcript and press release click HERE
Stock Market Nerd wrote a very good review HERE
Q3 Non-GAAP EPS of $0.26 beats by $0.03.
Revenue of $394.77M (+31.1% Y/Y) beats by $8.24M.
Q4 Outlook: Revenue at least $490M vs. consensus of $509.13M; Adjusted EBITDA of approximately $229M.
Roblox
For the transcript and press release click HERE
Q3 GAAP EPS of -$0.50 misses by $0.16.
Bookings of $701.72M (+10.0% Y/Y) beats by $12.47M.
Bookings were $701.7 million, up 10% year over year, and up 15% year over year on a constant currency basis
Average Daily Active Users (DAUs) were 58.8 million, up 24% year over year
Hours Engaged were 13.4 billion, up 20% year over year
Average Bookings per DAU (ABPDAU) was $11.94, down 11% year over year
Figs
For the transcript and press release click HERE
Q3 Non-GAAP EPS of $0.02 in-line.
Revenue of $128.6M (+25.2% Y/Y) beats by $4.23M.
For Full-Year 2022, the Company now expects:
Net revenues of approximately $495 million, representing year-over-year growth of approximately 18%.
Adjusted EBITDA margin(4) of approximately 16%.
CPI Report
October Consumer Price Index: +0.4% vs. +0.7% expected and +0.4% prior.
Y/Y, CPI: +7.7% vs. +8.0% expected and +8.2% prior. That represents the smallest 12-month increase since January.
The index for shelter contributed more than half of the monthly increase in the headline number. Food and energy prices also increased in the month.
Core CPI: +0.3% vs. +0.5% expected and +0.5% prior. That rise is the slowest core M/M increase since September 2021, Charles Schwab Chief Investment Strategist Liz Ann Sonders points out.
Y/Y, core CPI: +6.3% vs. +6.6% expected and +6.6% prior.
Excellent summarize of company's earnings. Which ones will you be watching this week?