🔹 Revenue: $797M (Est. $755.55M) 🟢; +38.5% YoY
🔹 Adj. EPS: $2.15 (Est. $1.60) 🟢
🔹 Software & Services Revenue: $343M; +40% YoY
🔹 ARR: $1.347B; +35% YoY
🔹 Net Revenue Retention: 125%
FY’26 Guide:
🔹 Revenue Growth: +27% to +30% YoY 🟢
🔹 Adj. EBITDA Margin: 25.5%
🔹 Stock-Based Comp: $590M–$620M
🔹 Capex: $185M–$215M
2028 Target Model:
🔹 Annual Revenue: $6B 🟢
🔹 Adj. EBITDA Margin: ~28% 🟢
🔹 Adj. FCF Conversion: ~60% of Adj. EBITDA
🔹 SBC Dilution: <2.5% annually
Other Metrics (Q4):
🔹 Adj. EBITDA: $206M; Margin: 25.9%
🔹 Non-GAAP Net Income: $178M
🔹 Operating Cash Flow: $217M; Free Cash Flow: $155M
🔹 Cash, Cash Equivalents & Short-Term Investments: $1.7B
🔹 Future Contracted Bookings: $14.4B; +43% YoY
Commentary:
🔸 “We expect 2026 revenue growth of 27% to 30% with an Adjusted EBITDA margin of 25.5%.”