Earnings Surprises

Our third quarter demonstrates the inflection we've been talking about, as revenue growth accelerated and the reinvention of the business continued to take hold.

We have delivered another outstanding quarter, with continued momentum across our business, including our new agreement with Amazon, driving annualized recurring revenue to a record $626 million.

Mythos and frontier AI models have fundamentally changed the cybersecurity landscape. This new reality demands not only machine speed cyber recovery but also autonomous runtime AI agent security.

Our Q2 results were highlighted by SaaS ARR excluding conversions growth of 25%, SaaS ARR from new logos growing more than 20% and increasing momentum from our newer products, including Atlas, Interceptor, and Database Activity Monitoring. Organizations are prioritizing data and AI security, and we are uniquely positioned to help customers secure sensitive data, govern AI and automate risk reduction.

Q2 was a pivotal quarter for AOI. We delivered record revenue for our fifth consecutive quarter and achieved an important milestone as we returned to non-GAAP profitability in the quarter. Further, we saw a strong volume ramp of our 800G products, which more than doubled sequentially.

We were pleased with the progress we made executing against our strategic priorities in the second quarter. Although total company revenue declined 9% year over year in Q2, subscriptions exceeded 3.1 million, we saw improving engagement trends, and achieved double-digit global machine sell-out growth. These results reinforce our confidence that our platform-first strategy is making Cricut easier to discover, easier to use, and more valuable for our customers, while positioning the business for g

We delivered another quarter of significant profitability improvement, with gross margin reaching a record for the Company at 33.2%, gross profit increasing 21% year-over-year, net loss of $5.7 million excluding the tariff refund and adjusted EBITDA, excluding the tariff refund, of $16.6 million, above the high end of our guidance.

This quarter, Life360 crossed 100 million monthly active users—proof of the trust millions of families place in us to stay connected, coordinated, and safe.

Our AI investments are redefining what’s possible across every part of our business. Q2 was an amazing quarter, with Alphabet revenues growing 24% year-over-year and Google Cloud revenues accelerating to 82% growth, driven by demand for AI infrastructure and AI solutions.

Our AI investments are redefining what’s possible across every part of our business. Q2 was an amazing quarter, with Alphabet revenues growing 24% year-over-year and Google Cloud revenues accelerating to 82% growth, driven by demand for AI infrastructure and AI solutions.

During the second quarter of 2026, we delivered strong operating results while displaying continued core business momentum, as second quarter revenue, net income and Adjusted EBITDA exceeded Company and consensus street expectations.

This is an incredibly exciting time for AXT. We have reached an inflection point in our business where strong customer demand for data center optical connectivity coupled with our continued success in adding manufacturing capacity and improving productivity are driving a step-function increase in our revenue.

Record second quarter results reflect strong execution and the deep trust customers place in our technology and our teams. Our platform strategy is driving business momentum, giving us the confidence to raise our full-year outlook.

AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network.

Q2 was Figma’s third straight quarter of accelerated revenue growth, and as code gets commoditized and value moves up the stack, the opportunity ahead of us has only grown.

Second quarter results reflected broad-based improvement across our end markets, with revenue increasing 38% year-over-year and estimated test cell utilization improving to approximately 80% at the end of June.

Our Total AI/IT Solutions strategy continues to deliver strong results, we added several hundred enterprise and other customers in the past year, generated more than $60 billion in new orders, and booked record backlog entering fiscal 2027.

Our excellent second quarter results reflect the growing demand for trusted AI, as we accelerated topline growth, outperformed all guided metrics, and delivered record net new ARR.

Our excellent first quarter results reflect the power of our portfolio and disciplined execution across all of our labels. With these positive trends and excitement around the November 19th launch of Grand Theft Auto VI, we are reiterating our Fiscal 2027 Net Bookings outlook of $8.0 to $8.2 billion.

We believe we are positioned to deliver organic annual revenue growth in fiscal 2026 above the 8% to 10% range previously outlined in our three-year model.

We delivered our third consecutive quarter of double-digit year-over-year revenue growth, with revenue above the midpoint of our guidance and adjusted gross margin and adjusted EPS above our expectations.

This quarter did not meet the standard we set for ourselves, but it has reinforced our belief that we are focused on the right opportunities for the future.

Pega Infinity™ 26 uniquely deploys the power of AI with predictable outcomes and predicable costs by applying agents at design time to optimize run-time token use.

AI is accelerating our core business today, powering our next generation of products, and opening the door to entirely new enterprise opportunities.

We have surpassed 30 million Active Riders globally, our highest ever, as more people embed Lyft into their everyday lives. This milestone is driven by our customer obsession and operational excellence, and fuels our transformation into a hybrid transportation platform while we deliver strong financial performance. So buckle up, the opportunity ahead is massive, and we’re just getting started.

We delivered another quarter of solid revenue growth, with sales increasing nearly 7% year over year, driven by improving customer demand and progress in our commercial initiatives.

Our business continues to be supported by volume growth and strong positions in attractive markets. Our recurring revenue base is durable, client demand for our strategic platforms remains strong, and we are improving execution, enhancing our technology and are committed to long-term shareholder value.