The Earnings Debate

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We turn quarterly earnings calls into a fast-paced financial comedic debate. Our AI hosts (one skeptic and one optimist) agree on almost nothing. We cut through jargon, pressure-test claims, and spotlight the questions that matter. Rigorous analysis. Actual laughs. On the beat so you don't miss a beat.

  1. Sep 8

    ServiceTitan, Inc. (TTAN) Announced Q2 2027 Earnings on September 8, 2026, Reporting "Q2 total revenue of $292.8 million grew 21% year-over-year."

    ServiceTitan, Inc. reported its fiscal second quarter 2027 financial results. For the quarter, the company reported that Q2 total revenue of $292.8 million grew 21% year-over-year. Subscription revenue for the quarter was $212.4 million, growing 22% year-over-year, and usage revenue for the quarter grew 24% year-over-year to $72.1 million. The company reported that Q2 operating income of $44.4 million resulted in operating margin of 15.2%, representing an improvement of 310 basis points year-over-year. Free cash flow for the second quarter was $50.5 million, up 47% year-over-year, and year-to-date free cash flow was $40.9 million. Additionally, net dollar retention was greater than 110% for the quarter, and gross transaction volume for the quarter was $26.8 billion, representing 17% year-over-year growth.In key business updates, management announced a significant executive transition. Chief Revenue Officer Ross Biestman is stepping down from his operating role after helping scale the company from less than $30 million in annual recurring revenue to over $1 billion of annual normalized run rate revenue. Rikus Pretorius, who has served as Senior Vice President of Worldwide Sales for over seven years, will step into the Chief Revenue Officer role in the fourth quarter. Strategically, the company decided to narrow its trade expansion scope to focus on existing commercial trades and residential roofing rather than expanding into new trades. This prioritization allows the company to focus resources on its Max program and its software factory initiative to optimize development speed and internal efficiency. For product and technology updates, the company reported accelerating adoption of its Max platform, which now features over thirty native agentic capabilities. The company doubled the number of locations enrolled in Max during the first quarter and exceeded its goals in the second quarter, now forecasting to end the fiscal year with over 700 enrolled Max locations. The company also expanded its AI virtual agents product by launching new voice and SMS capabilities, including speed-to-lead technician notifications. Consequently, virtual agent revenue and call volume each more than doubled sequentially quarter-over-quarter. Management provided forward guidance for the third fiscal quarter and full fiscal year 2027. For the third quarter, the company expects total revenue in the range of $285 million to $287 million and operating income in the range of $29 million to $30 million. For the full fiscal year 2027, ServiceTitan expects total revenue in the range of $1.139 billion to $1.144 billion and operating income in the range of $152 million to $154 million. Due to the company's strong margin performance, management noted that they now expect full-year incremental margins of 33% and believe a 25% incremental operating margin will represent a floor rather than a target moving forward.💡 What's next? Would you like to create a set of promotional social media posts or compile a detailed comparison chart of ServiceTitan's sequential financial performance across their fiscal 2026 and 2027 quarters?

    ServiceTitan, Inc. (TTAN) Announced Q2 2027 Earnings on September 8, 2026, Reporting "Q2 total revenue of $292.8 million grew 21% year-over-year."

  2. Sep 5

    Dell Technologies Inc. (DELL) Announced Q2 2027 Earnings on September 1, 2026, Reporting "Revenue was $47 billion, up 58%"

    Dell Technologies Inc. reported its fiscal year 2027 second quarter financial results, stating that total revenue was up 58 percent to 47 billion dollars. Gross margin dollars grew 78 percent to 9.9 billion dollars, with a gross margin rate of 21.1 percent. Non-GAAP operating income grew 160 percent to 5.9 billion dollars, representing 12.6 percent of revenue, and net income was up 189 percent to 4.6 billion dollars. Record quarterly diluted earnings per share increased 203 percent to 7.04 dollars. The company delivered cash flow from operations of 2.2 billion dollars and adjusted free cash flow of 8.1 billion dollars for the quarter. It also returned an all-time record of 4.3 billion dollars to shareholders, which included repurchasing 9.5 million shares at an average price of 401 dollars per share and paying a dividend of approximately 0.63 dollars per share. Within business segments, the Infrastructure Solutions Group delivered record revenue of 31.8 billion dollars, up 89 percent. This performance was driven by the artificial intelligence business, where the company booked a record 60.9 billion dollars in AI orders, recognized 16.4 billion dollars in AI server revenue, and exited the quarter with a record 95 billion dollars of AI backlog. Traditional server and networking revenue was 10.5 billion dollars for the quarter, up 122 percent, while storage revenue was 4.9 billion dollars, up 26 percent. The Client Solutions Group posted revenue of 15 billion dollars, up 20 percent, driven by commercial revenue of 13.2 billion dollars, up 22 percent, and consumer revenue of 1.8 billion dollars, up 7 percent. In managing supply chain conditions, executive Jeffrey Clarke highlighted that component constraints persist, stating that the constraints remain the same with DRAM followed by NAND.Regarding strategic initiatives, products, and partnerships, the company expanded its customer base, noting its AI customer count has surpassed 6,500. Dell announced it became the first to ship rack systems engineered on the NVIDIA Vera Rubin platform, and noted that Lightning, its parallel file system designed for native AI use cases, remains in beta with several customers. Looking ahead to guidance, the company expects third-quarter revenue to be 49 billion dollars at the midpoint, up roughly 80 percent year-on-year, with diluted non-GAAP earnings per share expected to be 6.50 dollars for the third quarter. For the full year, the company raised its full-year revenue guidance midpoint by 25 billion dollars to 192 billion dollars, up roughly 70 percent, with diluted non-GAAP earnings per share expected to be 25.50 dollars for the full year. This full-year guidance includes expected Infrastructure Solutions Group growth of roughly 120 percent, driven by AI server revenue of 74 billion dollars for the full year.🎙️ Would you like me to draft the five FinTwit tweet variants matching this Q2 print next?

    Dell Technologies Inc. (DELL) Announced Q2 2027 Earnings on September 1, 2026, Reporting "Revenue was $47 billion, up 58%"

  3. Sep 5

    Medtronic plc (MDT) Announced Q1 2027 Earnings on September 1, 2026, Reporting "revenue of $9.8 billion" for the first quarter

    Medtronic plc reported first quarter fiscal year 2027 financial results, including "revenue of $9.8 billion" for the quarter, up "13.7% on both the reported and organic basis." This performance "benefited from the extra selling week, which we estimate contributed approximately $570 million or 670 basis points to total organic enterprise revenue growth." The company delivered first quarter "adjusted EPS of $1.45," which was "$0.06 above the midpoint of our guidance range." First quarter "adjusted gross margin was 65.2%," which was "up 10 basis points year-over-year," and "adjusted operating profit was $2.3 billion," an increase of "15% year-over-year." This resulted in a first quarter "adjusted operating margin of 23.7%, up 10 basis points from the prior year." Adjusted SG&A was "32.4% of revenue" and adjusted R&D was "7.9% of revenue in Q1." The company noted that cash conversion was at "70%" for the first quarter.In business updates, Medtronic highlighted that its Cardiac Ablation Solutions business delivered "88% worldwide growth" in the first quarter, driven by the "Sphere-9 momentum" which "continued with a 9-point increase in U.S. share during the quarter," and the business "surpassed the $2 billion mark in trailing 12-month revenue." In Neuroscience, "Cranial & Spinal Technologies delivered 13% growth worldwide" and the recently launched "Stealth AXiS platform also meaningfully outperformed this quarter." In Pelvic Health, procedures for "Altaviva" "doubled sequentially." In Surgical, the "Hugo" robotic platform is expected to "surpass 50,000 completed procedures" by the end of the fiscal year. The company announced a "strategic investment and distribution agreement for Cornerstone's Sentire Surgical System in select markets outside the U.S." and a "strategic investment" in "Pi-Cardia," which is "the first FDA-cleared leaflet modification technology for TAVR procedures." Medtronic also completed its acquisition of "Scientia" and is on track with the "separation of MiniMed" which they "intend to close prior to fiscal year-end."For forward guidance, Medtronic is raising its "fiscal year '27 organic revenue growth guidance to 7.25% to 7.75%," representing a "50 basis points increase from our prior guidance." For the second quarter of fiscal year 2027, the company expects "roughly 6% organic revenue growth" and adjusted "EPS in the range of $1.32 to $1.34." Foreign exchange is projected as a "roughly $50 million to $150 million headwind for the full year with approximate $25 million to $75 million headwind in 2Q." For the full fiscal year 2027, the company expects "operating profit to grow approximately 10%, with operating margin expanding approximately 50 basis points year-over-year." Finally, Medtronic is raising its full-year fiscal 2027 adjusted EPS guidance range to "$5.94 to $6."Would you like me to draft some social media posts or create a slide deck outline based on these first quarter fiscal year 2027 results?

    Medtronic plc (MDT) Announced Q1 2027 Earnings on September 1, 2026, Reporting "revenue of $9.8 billion" for the first quarter

  4. Sep 5

    GitLab Inc. (GTLB) Announced Q2 2027 Earnings on September 1, 2026, Reporting "Revenue was $286.3 million, up 21% year-over-year"

    Management noted that "Q2 was an exceptional quarter", reporting that second quarter total revenue was $286.3 million, up 21% year-over-year, and non-GAAP operating income was $42.6 million, representing a 15% operating margin. Non-GAAP gross margin was 86.5%. For the second quarter, adjusted free cash flow was $9.8 million, representing a 3% margin, and the company ended the quarter with $1.3 billion in cash and investments. Additionally, the company delivered the largest gross bookings quarter in history, with dollar-based net retention rate at 117% and net ARR growing 42% year-over-year. Calculated billings grew 24% for the quarter. During the call, management discussed updates on their five growth initiatives. On the product front, the company highlighted the launch of GitLab Flex, noting that "in the first 6 weeks on the market, over 130 customers committed more than $20 million to Flex". Exiting the quarter, the platform-wide paid consumption run rate was above $40 million, up from $15 million in the first quarter. Under their AI strategy, Duo Agent Platform paid CRR grew 50% sequentially, and more than 2,200 organizations have enabled GitLab Orbit indexing in the public beta. The company also announced the August launch of Secrets Manager and Dedicated Runners as their second and third new consumption products of the year. For forward guidance, management raised its outlook for the full year, with Jessica Ross stating "we are raising our guidance to reflect the strong momentum we experienced in the first half of the year as well as the momentum we anticipate will continue into the back half". For the third quarter of fiscal year 2027, the company expects total revenue of $281 million to $283 million, representing approximately 15% to 16% year-over-year growth, and non-GAAP operating income of $35 million to $37 million. For the full year, total revenue is expected to be $1.129 billion to $1.133 billion, representing approximately 18% to 19% year-over-year growth, and non-GAAP operating income is expected to be $148 million to $152 million. Full year non-GAAP gross margins are expected to be between 85% to 87%.

    GitLab Inc. (GTLB) Announced Q2 2027 Earnings on September 1, 2026, Reporting "Revenue was $286.3 million, up 21% year-over-year"

  5. Sep 5

    Palo Alto Networks, Inc. (PANW) Announced Q4 2026 Earnings on September 1, 2026, Reporting "revenue grew 34% to $3.41 billion in the fourth quarter" for the Quarter.

    Palo Alto Networks reported "total revenue grew 34% to $3.41 billion in the fourth quarter" of fiscal year 2026. For the full fiscal year 2026, "revenue reached $11.5 billion, up 24% year-over-year." Performance metrics for the fourth quarter included "Q4 non-GAAP EPS of $1.02" and "Q4 non-GAAP operating margin came in at 29.6%." For the fourth quarter, the company reported "adjusted free cash flow... reached $1.29 billion, growing 35% year-over-year," bringing the full fiscal year 2026 "adjusted free cash flow" to "$4.41 billion" with a margin of "38.4%." In addition, "NGS ARR reached $9.1 billion in Q4, up 63%," and "Q4 RPO exceeded $20 billion for the first time, ending the year at $21.2 billion, up 34%."In strategic business updates, management highlighted that "during the fourth quarter, we achieved approximately 220 net new platformizations." In core products, "Prisma AIRS achieved a remarkable milestone in Q4, surpassing $100 million in ARR within just 4 quarters of general availability." Under its observability business, "since finalizing the Chronosphere acquisition in Q2, our observability ARR has more than doubled, eclipsing the $500 million mark." Additionally, the company announced that "we closed our acquisition of Console today" to bring "an AI-first approach to product development." In identity security, the company's CyberArk acquisition is now called "Idira," which reached "$1.26 billion" in pro forma revenue for the "fiscal year '26" and "grew 21%."For notable product launches, the company "expanded our frontier AI Defense Service last month, introducing a multimodal harness that enables enterprises to stress test their environments" and noted they are "the first certified commercial partner for Mythos 5." The company also launched a new product called "Modern PAM" which is "generally available now." In terms of guidance, for the first quarter of fiscal year 2027, the company expects "revenue of $3.3 billion to $3.31 billion, or 33% to 34% growth" and "diluted non-GAAP EPS to be in the range of $0.96 to $0.98 per share." For the full fiscal year 2027, the company forecasts "revenue of $14.1 billion to $14.2 billion, or 23% to 24% growth," "operating margin of 29.5%," and "diluted non-GAAP EPS to be in the range of $4.16 to $4.19 per share."

    Palo Alto Networks, Inc. (PANW) Announced Q4 2026 Earnings on September 1, 2026, Reporting "revenue grew 34% to $3.41 billion in the fourth quarter" for the Quarter.

  6. Sep 4

    Snowflake Inc. (SNOW) Announced Q2 2027 Earnings on September 2, 2026, Reporting "Product revenue came in at $1.49 billion with growth accelerating to 37% year-over-year"

    Financial Results For the second quarter of fiscal 2027, Snowflake reported product revenue of $1.49 billion, representing 37% year-over-year growth, which marks the company's third straight quarter of product revenue acceleration. Remaining performance obligations grew 30% year-over-year to reach $9 billion, with approximately 54% expected to be recognized as revenue in the next 12 months. The company achieved a net revenue retention rate of 126% and expanded its non-GAAP operating margin by more than 400 basis points year-over-year to 15%. Additionally, Snowflake ended the quarter with $4.3 billion in cash, cash equivalents, short-term, and long-term investments. Business Updates and Product Announcements Management highlighted strong traction in transitioning organizations into what they call the Agentic Enterprise. Their first-party AI products are seeing rapid adoption, with CoWork expanding to 5,800 accounts, representing nearly 11% quarter-over-quarter growth, while CoCo surpassed 9,100 accounts after adding more than 2,000 net new accounts in the quarter. Snowflake also introduced Cortex AI Gateway, which dynamically routes tasks to appropriate models with built-in cost and governance controls, integrating technology from the Natoma acquisition. Internally, management has deployed CoCo and CoWork across marketing, sales, and finance, including automating prospecting for over 125,000 contacts and leads. Forward Guidance For the third quarter of fiscal 2027, Snowflake expects product revenue between $1.588 billion and $1.593 billion, representing 37% to 38% year-over-year growth, with a non-GAAP operating margin of 15.5%. For the full fiscal year 2027, the company raised its product revenue guidance to $6.07 billion, representing 36% year-over-year growth, which includes approximately 1 percentage point of growth from Observe. Full-year non-GAAP operating margin guidance was increased from 13.5% to 14.5%, while the non-GAAP product gross margin is expected to be 74%, reflecting a higher revenue mix from fast-growing AI workloads that carry lower contribution margins. The company reiterated its full-year non-GAAP adjusted free cash flow margin guidance of 23%.

    Snowflake Inc. (SNOW) Announced Q2 2027 Earnings on September 2, 2026, Reporting "Product revenue came in at $1.49 billion with growth accelerating to 37% year-over-year"

  7. Sep 4

    Broadcom Inc. (AVGO) Announced Q3 2026 Earnings on September 2, 2026, Reporting "Consolidated revenue was a record $29.6 billion for the quarter, up 86% year-on-year"

    Broadcom reported consolidated revenue of a record $29.6 billion for the third quarter of fiscal year 2026, representing an increase of 86% year-on-year. Gross margin for the quarter was 75% of revenue, which was down 210 basis points sequentially as AI semiconductor revenue was a greater proportion of the total revenue mix. Q3 operating income was a record $20.1 billion, representing an increase of 92% from a year ago. Operating margin reached a record 68% of revenue for the quarter. Non-GAAP EPS was $3.32 for the quarter, up 96% year-on-year. Free cash flow in the quarter was a record $13.7 billion, which represented 46% of revenue. The Semiconductor Solutions segment generated record revenue of $20.8 billion, which was up 127% year-on-year, with gross margin for the segment at approximately 67% and operating margin at 61%. AI semiconductor revenue reached $16.7 billion for the quarter, which grew 221% year-on-year. Infrastructure software revenue was $8.8 billion, representing a 29% increase year-on-year, with sustained ARR growth of 15% year-on-year. During the quarter, management highlighted substantial updates to its custom silicon and networking portfolio. Broadcom delivered the Ironwood TPU v7 in high volume to both Google and Anthropic, and started production shipments of the next-generation TPU version 8i to Google. The company also shipped Jalapeno, OpenAI's first-generation custom accelerator, which is optimized for inference workloads. For Meta, Broadcom expects production shipments of the custom MTIA accelerator in the fourth quarter. In networking, Broadcom taped out Tomahawk 7, the industry's first 200 terabit per second Ethernet switch. To support enterprise AI deployment, Broadcom announced the VMware Private AI Cloud. Financially, the company established the AI XPV platform in partnership with Apollo and Blackstone to enable more than 20 gigawatts of compute infrastructure by the end of 2028, and closed a first tranche of $35 billion in June for Anthropic's 1 gigawatt deployment. For the fourth quarter of fiscal 2026, Broadcom provided guidance expecting consolidated revenue of approximately $34.8 billion, which is up 93% year-on-year, with an operating margin of approximately 66%. Fourth-quarter semiconductor revenue is guided to approximately $26.1 billion, up 136% year-on-year, driven by expected Q4 AI semiconductor revenue of $21.7 billion, up over 236% year-on-year. Q4 consolidated gross margin is expected to be approximately 73%, down from 78% a year ago due to the increasing proportion of custom XPUs in the revenue mix. For the full fiscal year 2026, management expects AI revenue to reach $58 billion, representing a 186% increase year-on-year. Looking further ahead, management expects fiscal 2027 AI semiconductor revenue to double to approximately $115 billion, and fiscal 2028 AI semiconductor revenue to double again to approximately $230 billion, while targeting to exceed $30 in earnings per share in fiscal 2028.

    Broadcom Inc. (AVGO) Announced Q3 2026 Earnings on September 2, 2026, Reporting "Consolidated revenue was a record $29.6 billion for the quarter, up 86% year-on-year"

  8. Sep 4

    MongoDB, Inc. (MDB) Announced Q2 2027 Earnings on September 1, 2026, Reporting "Total revenue in the second quarter was $771.8 million representing 30% year-over-year growth"

    MongoDB reported strong financial results for the second quarter of fiscal year 2027. Michael Berry stated that "Total revenue in the second quarter was $771.8 million representing 30% year-over-year growth" compared to 24% growth in the year-ago period. Atlas revenue grew approximately 29% year-over-year, marking the sixth straight quarter of year-over-year dollar growth, adding a "record $127 million in the quarter". Chirantan Desai reported that "EA and other had a standout quarter, growing 36% year-over-year due to widespread strength driven by our run anywhere capabilities", while Michael Berry noted that EA and other revenue grew approximately 30% year-over-year. The company delivered a non-GAAP gross margin of 75.9% and non-GAAP income from operations of $185.9 million, resulting in a non-GAAP operating margin of 24%. Second quarter non-GAAP net income was $162.6 million, or $1.90 per share. Operating cash flow was $141.9 million and free cash flow was $137.6 million, bringing first-half free cash flow to $335 million.In terms of business updates, Chirantan Desai highlighted that MongoDB is "emerging as the real-time intelligent data platform for modern application in the multi-cloud and AI era." The company ended the quarter with 70,600 total customers, adding a sequential record of approximately 2,900 net new customers. Desai pointed out that "Voyage customer count nearly doubled quarter-over-quarter" and "Atlas Vector Search adoption continues to outpace the growth of the rest of the company, showing our strong early momentum for AI workloads." Additionally, total company net ARR expansion rate increased to 122% from 121% in the prior quarter. To expand its developer reach, MongoDB launched a managed Model Context Protocol Server, allowing developers and agents to connect directly to MongoDB when using tools such as Claude Code, Codex, Grok Build, Cursor, and Devin. For the third quarter of fiscal year 2027, management expects total revenue of $756 million to $761 million, representing 20% to 21% year-over-year growth. Non-GAAP income from operations is projected to be $152 million to $156 million, with non-GAAP net income per share of $1.57 to $1.61. For the full year fiscal 2027, MongoDB raised its guidance, expecting total revenue of $2.99 billion to $3.03 billion, representing growth of 21% to 23%. Non-GAAP income from operations is expected to be $616.3 million to $636.3 million, with non-GAAP net income per share of $6.39 to $6.58. Michael Berry noted that full-year Atlas revenue growth is expected to be approximately 27% and that "EA and other is projected to grow at a double-digit rate for the full year" at approximately 11% growth. Operating margin is expected to expand by approximately 250 basis points, and full-year free cash flow conversion is anticipated to be at the upper end of the 80% to 100% target range.On the product and partnership front, MongoDB launched Search and Vector Search capabilities on Enterprise Advanced during the second quarter. Desai noted this addresses customer interest in taking a consolidated approach to building artificial intelligence in governed, self-managed environments. In addition, MongoDB introduced Automated Voyage Embeddings in Atlas for one-click Vector Search setup, launched the voyage-code-4 model purpose-built for code, and released an upgraded Reranking API. A key partnership integration with Claude was highlighted, featuring Anthropic's Chief Commercial Officer Paul Smith, who commented that a new managed MCP Server allows developers to "explore query and manage their MongoDB data without ever leaving Claude."📈 Would you like me to draft some social media tweets or a brief analysis of the analyst Q&A from this Q2 call to accompany these show notes?

    MongoDB, Inc. (MDB) Announced Q2 2027 Earnings on September 1, 2026, Reporting "Total revenue in the second quarter was $771.8 million representing 30% year-over-year growth"
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We turn quarterly earnings calls into a fast-paced financial comedic debate. Our AI hosts (one skeptic and one optimist) agree on almost nothing. We cut through jargon, pressure-test claims, and spotlight the questions that matter. Rigorous analysis. Actual laughs. On the beat so you don't miss a beat.

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