In Q4 2025, Axon Enterprise, Inc. reported that revenue grew 39% year-over-year to $797 million. Adjusted gross margin came in at 61.1%, which was down sequentially due to the impact of tariffs and an increased mix from Platform Solutions. Adjusted EBITDA grew 46% year-over-year to $206 million, outperforming expectations with an adjusted EBITDA margin of 25.9%. Operating cash flow was $217 million for the quarter. For the full year 2025, bookings surpassed $7 billion (up more than 40% from the previous year), and net revenue retention expanded to 125% in the fourth quarter.

Management highlighted substantial momentum across its product lines and new markets. The newly launched AI Era plan accounted for approximately $750 million worth of bookings in its first full year. The company also noted record results internationally, with the international team crossing $1 billion in annual bookings for the first time. Other strategic updates included the announcement of the new Axon Body Mini arriving later in the spring, and the recent acquisitions of 911 tech providers Prepared and Carbyne.... Management emphasized their strategic vision to build the world's largest AI-supercharged global sensor network, seamlessly integrating hardware and software to eliminate manual workflows for their users....

Looking ahead, Axon provided its financial outlook for the full year 2026, guiding for revenue growth in the range of 27% to 30% year-over-year and maintaining an adjusted EBITDA margin expectation of 25.5%. In addition to its 2026 guidance, the company unveiled new 2028 financial targets, which include an approximate revenue target of $6 billion and an adjusted EBITDA margin target of 28%.

Lowe's Companies, Inc. reported fourth-quarter 2025 sales of $20.6 billion, with comparable sales increasing 1.3%. For the full fiscal year 2025, the company delivered sales of $86.3 billion and positive comparable sales of 0.2%. Fourth-quarter GAAP diluted earnings per share were $1.78, while adjusted diluted earnings per share reached $1.98. The adjusted operating margin rate for the quarter was 9%, and the fiscal year 2025 adjusted operating margin was 12.1%. Management highlighted that the company generated $7.7 billion in free cash flow in 2025.

During the quarter, Lowe's navigated a challenging macroeconomic environment and persistent housing market volatility by focusing on its "perpetual productivity improvement" (PPI) initiatives, which included the elimination of approximately 600 corporate and support roles. The company also rewarded its frontline associates with a discretionary bonus of $125 million for their performance. Recent strategic moves included the integration of acquisitions Foundation Building Materials (FBM) and Artisan Design Group (ADG), which are expected to support cross-selling opportunities and help build an interior solutions deployment for homebuilders.

Looking ahead to fiscal 2026, Lowe's issued cautious guidance, forecasting full-year sales ranging from $92 billion to $94 billion and comparable sales in a range of flat to up 2%. The company expects 2026 adjusted diluted earnings per share of approximately $12.25 to $12.75. On the product and partnership front, Lowe's expanded its DEWALT tool assortment, became the first big-box retailer to offer Toto toilets, and announced an exclusive national home improvement partnership with the National Association of Homebuilders (NAHB). Additionally, the company will be activating an expanded relationship with the influencer Mr. Beast later in the spring.

MercadoLibre, Inc. reported its Q4 2025 financial results, highlighting that "Q4 revenues growing at 45% year-on-year," which marked "the 28th consecutive quarter of growth above 30%". Management addressed profitability, noting that deliberate investments generated margin pressure in "a range of between 5 and 6 points". These strategic investments included the "lowering of the shipping threshold that we did last year in Brazil," credit card investments across multiple countries, 1P growth, and cross-border trade.

The company shared multiple business milestones, achieving "record market share gains in e-commerce in Brazil and Mexico" and reaching "the highest NPS level in commerce and fintech in Argentina, Brazil and Mexico". The fintech segment remained highly active, as the company "issued nearly 3 million cards" in the fourth quarter alone. Management provided a positive update on credit card maturation, sharing that in Brazil, "cohorts that are older than 2 years are already profitable". The cross-border trade business is also scaling, with the company "expanding now to the China and the U.S. corridor".

Strategically, MercadoLibre highlighted its focus on AI and agentic commerce, deploying a new "MercadoPago's AI assistant" that is "helping mostly with solving questions and concerns from our users". Management emphasized they are dedicating engineering resources to "building our own agents and our own shopping assistant within MercadoLibre" to capture the shift from offline to online retail. When asked about future financial projections, management reiterated their standard policy, stating, "we don't guide".

Workday reported its Q4 fiscal 2026 results, highlighting Q4 total revenue of $2.53 billion, representing a growth of 15%. Q4 subscription revenue was $2.36 billion, up 16%. For the full year fiscal 2026, total revenue reached $9.55 billion, up 13%. The company reported a Q4 non-GAAP operating income of $774 million with a non-GAAP operating margin of 30.6%, and full-year free cash flow of $2.78 billion, which was up 27%.

CEO Aneel Bhusri highlighted the company's entry into "Chapter 4," signaling a "return to focusing on innovation" and an opportunity to transform the enterprise by "reimaging HR and finance with AI". Management emphasized an accelerating adoption of "agentic AI" across organically developed role-based agents and acquired solutions like Sana and Paradox. Workday generated over $100 million in new annual contract value (ACV) from emerging AI products in Q4, growing over 100% year-over-year. Additionally, Workday introduced its Flex credit pricing model to help customers align their spend with the value they receive.

Looking ahead, Workday provided FY 2027 guidance expecting subscription revenue of $9.92 billion to $9.95 billion, representing a growth of 12% to 13%, and an FY 2027 non-GAAP operating margin of approximately 30%. The company noted strategic expansions and partnerships in the quarter, including Accenture reinventing HR at scale with Workday's AI solutions, and new partnerships with Lira Health, Empathy, and Avid through the Workday Wellness program.

CAVA Group, Inc. reported fourth quarter 2025 revenue of $272.8 million, representing a 21.2% increase year-over-year. Full year 2025 revenue surpassed $1 billion. Fourth quarter same-restaurant sales increased 0.5%, while full year same-restaurant sales grew 4%. The company delivered a fourth quarter restaurant level profit margin of 21.4%, adjusted EBITDA of $25.8 million, and net income of $4.9 million. For the full year, CAVA generated $152.8 million in adjusted EBITDA, $63.7 million in net income, $26.1 million in free cash flow, and diluted EPS of $0.54 per share....

During the year, CAVA opened 72 net new restaurants, ending 2025 with 439 locations. Key operational updates included the completion of the TurboChef oven rollout across all restaurants and the expansion of the "kitchen display screen system," which is now live in 370 locations. To deepen guest relationships, the company evolved its loyalty program with tiered status levels, including a new invite-only tier named "Oasis". Additionally, CAVA focused on team member development by launching the "Flavor Year Future" program and creating the Assistant General Manager role, with 60% of these new positions already filled. The company also announced the appointment of Doug Thompson as Chief Operations Officer.

Looking ahead to the full year 2026, CAVA's forward guidance projects 74 to 76 net new restaurant openings and same-restaurant sales growth of 3% to 5%. Management expects a restaurant level profit margin between 23.7% and 24.2%, and adjusted EBITDA between $176 million and $184 million. On the culinary front, the company brought back its "roasted white sweet potato" and introduced "Power greens," "Tangerine Apple juice," and a "Sumac Onion Peter Chip". Furthermore, CAVA announced plans to launch its first-ever seafood offering, salmon, towards the end of the first quarter.

GoDaddy Inc. reported its fourth quarter and full year 2025 financial results. For the fourth quarter, "total revenue grew 7% on a reported and constant currency basis to 1.3billion". The company reported Q4 normalized EBITDA of "431 million" and delivered an expanded margin of "34%". For the full year 2025, revenue was "approximately $5 billion," representing growth of "8%", and free cash flow grew "19% to $1.6 billion".

The company highlighted a "sharpened and deliberate strategy" focusing on an "AI journey" and evolving its go-to-market approach.... Management discussed evolving Airo into an "agentic operating system for small businesses brought to life on Airo.ai," which currently has "25 agents live". Additionally, GoDaddy introduced a "streamlined purchase experience for new domain customers" and a promotional price for .com domains with a 1-year term, successfully increasing new customer volume. Internally, "AI tools are now generating the majority of our code".

In product and partnership announcements, GoDaddy launched an integration between "MuleSoft, Agentic Fabric and GoDaddy ANS" to validate its framework and extend Agent Name Service into enterprise-grade workflows. Looking ahead to full year 2026, management expects "total revenue to be within a range of $5.19 billion to $5.27 billion" and to drive "free cash flow of approximately 1.8 billion".  For Q1 2026, the company expects total revenue of "1.25 billion to $1.27 billion".

The Home Depot reported fourth quarter 2025 total sales of $38.2 billion, representing a decrease of approximately 3.8% compared to the fourth quarter of the prior year. For the quarter, total company comparable sales increased 0.4%, and U.S. comparable sales were positive 0.3%. Operating margin for the fourth quarter was 10.1%, and gross margin was approximately 32.6%. Fourth quarter diluted earnings per share were $2.58, and adjusted diluted earnings per share were $2.72. For the full fiscal year 2025, total sales reached $164.7 billion, an increase of 3.2% over fiscal 2024, with full-year adjusted diluted earnings per share at $14.69.

Executives indicated that fourth quarter results aligned with expectations, impacted by ongoing consumer uncertainty, housing pressures, and a lack of storm activity in the third quarter, though January storms provided a sales benefit. The company noted growth in its Pro ecosystem and "interconnected shopping experience," driven by new capabilities such as "real-time delivery tracking for big and bulky deliveries" and an "AI takeoff scheme" that allows Pros to quickly build project lists. Strategic acquisitions were also a focus, with management highlighting that SRS delivered organic sales growth and expanded market share, while integration with GMS is actively creating revenue synergies.

Looking ahead to fiscal 2026, management anticipates that broader housing and economic pressures will persist, citing historical lows in housing turnover and no immediate catalyst for an inflection in activity. The company expects fiscal 2026 total sales growth of approximately 2.5% to 4.5% and comparable sales growth between flat to 2%. Adjusted diluted earnings per share are projected to grow approximately flat to 4%, and the company plans to open approximately 15 new stores and 40 to 50 new SRS locations during the year. 

Hims & Hers Health, Inc. reported fourth quarter 2025 revenue of $618 million, representing a year-over-year growth rate of 28%. For the 2025 fiscal year, the company generated revenue of $2.35 billion, a 59% year-over-year growth rate. Fourth quarter adjusted EBITDA was $66 million, reflecting an 11% margin, while full year 2025 adjusted EBITDA increased nearly 80% year-over-year to $318 million. The company generated over $57 million in free cash flow in 2025 and ended the year with $929 million of cash, short-term and long-term investments on its balance sheet.

Throughout 2025, subscribers on the platform grew to over 2.5 million, with approximately 65% utilizing a personalized treatment. Management highlighted the company's evolution toward "proactive and preventative care" by bringing new offerings to market. Within a 90-day span, Hims & Hers launched a new Labs offering as well as hormone therapies supporting low testosterone, menopause, and perimenopause. The company also expanded its international presence through the acquisitions of ZAVA and Livewell, serving consumers in markets including the U.K., Germany, and Canada.

Looking ahead, management announced an agreement to acquire Eucalyptus, a global health innovator, for up to $1.15 billion in total consideration to expand into Australia and Japan. For the first quarter of 2026, Hims & Hers is anticipating revenue in the range of $600 million to $625 million and adjusted EBITDA between $35 million to $55 million. For the full year 2026, the company expects revenue between $2.7 billion to $2.9 billion and adjusted EBITDA between $300 million and $375 million, which excludes the pending Eucalyptus transaction.

For the fourth quarter, management reported that "revenue was up 4.9% in constant currency," and "adjusted operating income grew even faster at 10.5%". For the full year, the company noted "adding $35 billion in revenue, with sales exceeding $700 billion for the first time". Full year "operating cash flow of $42 billion" and "growth in free cash flow of 18% in FY '26" were also reported. Additionally, the company ended the quarter with "inventory up 2.6%".

Key business updates included that "eCommerce sales were strong across markets, with growth up 24%" for the quarter. In Walmart U.S., "eCommerce sales grew 27%, with 35% of store-fulfilled orders delivered in under 3 hours". Management also observed that "Our advertising businesses globally increased 37%" and "Consolidated membership income increased more than 15%". The company noted "share gains in GM, and in fashion".

On the product and partnership front, management discussed "enhancing our shopping assistance, like Sparky, and building new experiences with partners like OpenAI and Alphabet that are shaping the future of agentic commerce". Customers engaging with Sparky saw "an average order value that's about 35% higher". The Board also "authorized a $30 billion share repurchase program, our largest to date".

For the full year, forward guidance states "constant currency sales are expected to grow between 3.5% and 4.5%" and "operating income is expected to grow between 6% and 8%, with EPS in the range of $2.75 to $2.85". For Q1, expectations are for "constant currency growth in sales of 3.5% to 4.5% and operating income of 4% to 6%, with EPS of $0.63 to $0.65"

For the first quarter, "John Deere completed the first quarter with a 5.9% operating margin for the equipment operations". For the quarter, "Net sales and revenues were up 13% to $9.611 billion, while net sales for the equipment operations were up 18% to $8.001 billion". In addition, for the quarter, "Net income attributable to Deere & Company was $656 million or $2.42 per diluted share".

Management provided several business updates, noting that "All business segments delivered higher net sales year-over-year with both Small Ag and Turf and Construction Forestry top line growing by over 20%". Executives stated that "results for the quarter exceeded our forecast" and observed that "order books continue to grow".

In terms of forward guidance, management noted, "For fiscal year '26. Our updated outlook for net income is now between $4.5 billion and $5 billion". Additionally, for the full year, "projections for cash flow from the equipment operations increased by $500 million at both ends of our range and is now expected to be between $4.5 billion and $5.5 billion". The guidance for the year also "incorporates an effective tax rate between 25% and 27%".

On the product and partnership front, the company stated, "yesterday, we completed the acquisition of Tenna". Management also announced, "we are excited to announce our new Deere Design 2010 class excavators at the upcoming ConExpo Show in Las Vegas", adding that the event "will feature 24 product launches".