Executive summary Summary fundamentals Detailed fundamental analysis Revenue composition and trends Palantir’s Q2 2025 revenue acceleration to $1.004B was driven by both U.S. government contracts (+49% YoY for government revenue) and commercial growth (U.S. commercial revenue +93% YoY to $306M) (Palantir Q2 slides). The firm separates strategic commercial contracts from recurring commercial revenue; excluding strategic…
Executive summary Summary fundamentals Detailed fundamental analysis Revenue trends Supermicro’s FY2025 revenue surge to $22.0B reflects accelerated demand for AI servers and large design wins, but the quarterly cadence is lumpy: Q3 showed ~$4.6B and Q4 jumped to $5.76B, indicating order timing and customer fulfillment dynamics (Supermicro press releases and earnings script). Investors must model…
Executive summary Market overview One-week moves (week of Sep 22–26, 2025): S&P 500 −0.3%, Nasdaq Composite −0.7%, Dow −0.1% (Friday rebound reduced losses). Trading was dominated by headline catalysts (AI capex, M&A rumours) rather than broad earnings beats. Volume and breadth narrowed into Friday’s rally. (AP News) ETF moves (selected): XLK (Technology Select Sector ETF)…
Executive summary Amazon, Shopify and eBay represent three distinct e-commerce models: Amazon (AMZN) is a massive marketplace + logistics + AWS hybrid; Shopify (SHOP) is a merchant-platform/subscription model powering independent stores; eBay (EBAY) is a marketplace focused on reuse, collectibles and a growing ad/managed-services mix. Recent results show: Amazon reported Q2 2025 net sales $167.7B…
Executive summary Robinhood (HOOD) is positioning itself as a digital-first retail brokerage with trading, crypto, subscription and wealth ambitions. In Q2 2025, it posted revenue of $989M, net income of $386M, and diluted EPS of $0.42, backed by strong net deposits and growth in Gold subscriptions. (Robinhood Investors)Coinbase (COIN) remains the leading U.S. crypto exchange,…
Executive summary Reddit reported a breakout Q2 2025: revenue $499.6M (-78% YoY growth), advertising revenue $465.3M (+84% YoY), GAAP net income $89.3M, adjusted EBITDA $166.7M, and record daily active uniques (DAUq) 110.4M (+21% YoY). Strong ARPU acceleration (global ARPU $4.53, +47% YoY) and improving margins drove free cash flow $110.8M and cash + marketable securities…
Executive summary Space-related SPAC-era equities remain a high-variance, catalyst-driven cohort. Rocket Lab (RKLB) delivered a record Q2-2025 quarter – revenue $144.5M, 36% y/y growth – and a ~$1.0B backlog while pushing toward Neutron and expanded space-systems revenue. (Business Wire) AST SpaceMobile (ASTS) is aggressively capitalizing its direct-to-cell constellation: Q2-2025 revenue remained trivial (~$1.1–$1.2M) while capex…
Executive summary AppLovin (APP), Unity (U) and Digital Turbine (APPS) occupy adjacent positions in mobile adtech: AppLovin is a large-scale performance ad platform that recently exited game development to focus on high-margin adtech; Unity is a broader real-time content and monetization platform with a growing ad network and AI-led product push; Digital Turbine is a…
Executive summary Rigetti reported Q2 2025 revenue of $1.8m and a net loss of $39.7m, while completing an equity raise that brought cash, cash equivalents and short-term investments to ~$571.6m and left the company with no outstanding debt at quarter-end. Management pushed product milestones (general availability of a 36-qubit multi-chip system and a stated plan…
Executive summary Opendoor reported tangible progress toward unit economics in Q2 2025 while shrinking balance-sheet exposure: revenue of $1.57B, gross profit $128M, and the company posted its first quarter of Adjusted EBITDA profitability since 2022 (Adjusted EBITDA $23M). Inventory and purchasing activity have been deliberately cut (homes purchased down 63% YoY), reflecting a pivot to…