Finance Notes

WHAT WE'RE WATCHING
AI INFRASTRUCTURE · POWER · OPTICAL · SEMICONDUCTORS · SOFTWARE · CYBERSECURITY · SPACE

AAR (NYSE: AIR) — Q1 2027 Post Earnings

by
AAR q1 27 post earnings

Operations

Q1 2027
Q1 Revenue ↑ 24% YoY $918M
Divisions
Parts Supply 45.2%
Repair, Engineering, and Software 32.4%
Government Solutions 15.1%
Legacy Commercial Programs 7.3%

Key Earnings Driver

Mobility Systems Parts Supply revenue increased 30.5% year over year to $414.8M, Repair, Engineering, and Software revenue increased 31.4% to $297.5M, Government Solutions revenue increased 3.7% to $138.8M and Legacy Commercial Programs revenue increased 8.8% to $66.9M. Management said Government Solutions was up 4% driven by strength in Mobility Systems.

Key Operating Metrics¹

METRIC

STATUS

Parts Supply↑ 30.5%

Repair, Engineering, and Software↑ 31.4%

Government Solutions↑ 3.7%

Government Programs↓ 5.1%

🟡 Watch

Mobility Systems↑ 47.7%

🟢 Scaling

Sources: AAR Corp. Q1 FY2027 Earnings Release — Company Website, AAR Corp. Q1 FY2027 Results — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Concentrix (NASDAQ: CNXC) — Q3 2026 Post Earnings

by
Post earnings note company quarterly analysis

Operations

Q3 2026
Q3 Revenue ↓ 1.2% YoY $2.45B
Divisions
Technology & Consumer Electronics 24.6%
Retail, travel and e-commerce 27.0%
Communications and media 15.6%
Banking, financial services and insurance 17.6%
Healthcare 5.9%
Other 9.3%

Key Earnings Driver

Banking, Financial Services and Insurance Technology and Consumer Electronics revenue decreased 10% year over year to $603.5M, Retail, Travel and E-Commerce revenue increased 6% to $662.6M, Communications and Media revenue decreased 7% to $381.9M, while Banking, Financial Services and Insurance revenue increased 12% to $432.5M.

Key Operating Metrics¹

METRIC

STATUS

Technology and Consumer Electronics↓ 10%

🟡 Watch

Retail, Travel and E–Commerce↑ 6%

Communications & Media↓ 7%

🟡 Watch

Banking, Financial Services and Insurance↑ 12%

🟢 Scaling

Sources: Concentrix Q3 FY2026 Form 8-K — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

NetSol Technologies (NASDAQ: NTWK) — Q4 FY2026 Post Earnings

by
NetSol Technologies Q4 26 post earnings

Operations

Q4 2026
Q4 Revenue ↑ 12.5% YoY $20.7M
Divisions
Services 56.6%
Subscription and Support 43.0%
License 0.4%

Key Earnings Driver

Services Services revenue increased 21.3% year over year to $11.70M. Total Services revenues increased 3.3% for FY2026 to $33.6M as the company progressed major implementations. Subscription and Support revenue rose 9.0% to $8.90M, and License revenue decreased 85.55% to $83,000.

Key Operating Metrics¹

METRIC

STATUS

Services↑ 21.3%

🟢 Scaling

Subscription and Support↑ 9%

License↓ 85.55%

🟡 Watch

Sources: NETSOL Technologies Q4 FY2026 Results — Company Website, NETSOL Technologies Q3 FY2026 Results — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

TD Synnex (NYSE: SNX) — Q3 FY2026 Post Earnings

by
TD Synnex SNX q3 pre earnings finance note

Operations

Q3 2026
Q3 Revenue ↑ 37.7% YoY $21.56B
Divisions
Americas Distribution 47.9%
Europe Distribution 29.5%
APJ Distribution 5.0%
Hyve Solutions 17.6%

Key Earnings Driver

Hyve Solutions Americas Distribution revenue increased 39.9% year over year to $10.319B, Europe Distribution revenue increased 30.2% to $6.366B, APJ Distribution revenue increased 21.7% to $1.071B, and Hyve Solutions revenue increased 51.7% to $3.802B. Management stated they delivered another record quarter, with Distribution and Hyve both performing above our expectations and growing above market.

Key Operating Metrics¹

METRIC

STATUS

Americas Distribution↑ 39.9%

Europe Distribution↑ 30.2%

Hyve Solutions↑ 51.7%

🟢 Scaling

Key Financial Metrics

Gross Margin 6.61% -0.61 pp YoY
Backlog / Revenue N/A
CapEx Intensity 0.27% 0.00x Revenue

Sources: TD SYNNEX Q3 FY2026 Results — Company Website,  TD SYNNEX Q3 FY2026 Supplemental Financial Information — Company Website, TD SYNNEX Q3 FY2026 Form 8-K / Exhibit 99.1 — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

BlackBerry (NYSE: BB) — Q2 FY2027 Post Earnings

by
BlackBerry BB Q2 27 Post Earnings

Operations

Q2 2027
Q2 Revenue ↑ 26% YoY $163.3M
Divisions
QNX 49.2%
Secure Communications 37.3%
Licensing 13.5%

Key Earnings Driver

Licensing QNX revenue increased 27.1% year over year to $80.3M. Secure Communications increased 2.0% to $60.9M, and Licensing increased 217.1% to $22.1M.

Key Operating Metrics¹

METRIC

STATUS

QNX↑ 27.1%

Secure Communications↑ 2%

Licensing↑ 217.1%

🟢 Scaling

Key Financial Metrics

Gross Margin 77.83% +3 pp YoY
Backlog / Revenue 612.0% 6.12x Qtr Rev
CapEx Intensity 4.35% 0.04x Revenue

Sources: BlackBerry Q2 FY2027 Earnings Release — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Forgent Power Solutions (NYSE: FPS) — Q4 FY2026 Post Earnings

by
Forgent Power Solutions FPS q4 post earnings

Operations

Q4 2026
Q4 Revenue ↑ 94.3% YoY $461.67M
Divisions
Custom Products 63.1%
Powertrain Solutions 31.8%
Standard Products 2.4%
Services 2.7%

Key Earnings Driver

Powertrain Solutions Custom Products revenue increased 73.2% year over year to $291.5M, Powertrain Solutions revenue increased 186.8% to $146.7M, Standard Products revenue increased 11.2% to $11.2M, and Services revenue increased 51.5% to $12.3M. Powertrain Solutions revenue grew 259% for fiscal 2026 and represented nearly one-third of Q4 revenue. Forgent is making an incremental investment in dedicated e-House and Powerskid production in Tijuana, to increase Powertrain Solutions capacity by more than 50%.

Key Operating Metrics¹

METRIC

STATUS

Custom Products↑ 73.2%

Powertrain Solutions↑ 186.8%

🟢 Scaling

Key Financial Metrics

Gross Margin 36.11% +2.57 pp YoY
Backlog / Revenue 649.8% 6.49x Qtr Rev
CapEx Intensity 6.71% 0.06x Revenue

Sources: Forgent Power Solution Q4 FY2026 Earnings Release — Company Website, Forgent Power Solutions FY2026 Form 10-K — SEC Filing, Forgent Power Solutions Q3 FY2026 Form 10-Q — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

RF Industries (NASDAQ: RFIL) — Q3 FY2026 Post Earnings

by
RF Industries q3 26 post earnings Finance Note

Operations

Q3 2026
Q3 Revenue ↑ 21.07% YoY $23.96M
Divisions
Interconnect 32.7%
Custom Cabling 42.3%
Integrated Systems 25.0%

Key Earnings Driver

Custom Cabling Interconnect revenue increased 26.1% year over year to $7.835M, Custom Cabling revenue increased 41.6% to $10.135M, while Integrated Systems revenue declined 6.7% to $5.990M. The increase in net sales was primarily attributable to net sales of its custom cabling products, primarily driven by organic growth in industrial market segments and increased demand from a tier one carrier.

Key Operating Metrics¹

METRIC

STATUS

Interconnect↑ 26.1%

Custom Cabling↑ 41.6%

🟢 Scaling

Integrated Systems↓ 6.7%

🟡 Watch

Key Financial Metrics

Gross Margin 35.60% +1.6 pp YoY
Backlog / Revenue 77.6% 0.77x Qtr Rev
CapEx Intensity 0.63% 0.00x Revenue

Sources: RF Industries FY2025 Form 10-K — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Adobe (NASDAQ: ADBE) — Q3 FY2026 Post Earnings

by
Adobe ADBE q3 26 post earnings

Operations

Q3 2026
Q3 Revenue ↑ 12.89% YoY $6.76B
Divisions
Subscription 97.4%
Product 1.0%
Services and other 1.6%

Key Earnings Driver

Business Professionals & Consumers Subscription revenue increased 13.7% year over year to $6.58B, Within Subscription, Total Customer Group subscription revenue was $6.56B, with Business Professionals & Consumers subscription revenue increasing 16% to $1.91B, and Creative & Marketing Professionals subscription revenue increasing 14% to $4.65B. Product revenue declined 1.5% to $67M, and Services and other revenue declined 14% to $111M. Management cited expanding its user base through a freemium strategy and deeper engagement with agentic experiences to deliver long-term durable growth.

Key Operating Metrics¹

METRIC

STATUS

Subscription↑ 13.7%

Total Customer Group

Business Professionals & Consumers↑ 16%

🟢 Scaling

Creative & Marketing Professionals↑ 14%

Key Financial Metrics

Gross Margin 88.71% -0.6 pp YoY
Backlog / Revenue 327.8% 3.27x Qtr Rev
CapEx Intensity 1.26% 0.01x Revenue

Sources: Adobe Q3 FY2026 Earnings Release — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Oracle (NYSE: ORCL) — Q1 FY2027 Post Earnings

by
Oracle ORCL q1 27 post earnings Finance Note

Operations

Q1 2027
Q1 Revenue ↑ 29.61% YoY $19.35B
Divisions
Cloud and Software 88.7%
Hardware 4.0%
Services 7.3%

Key Earnings Driver

Cloud Infrastructure Cloud and Software revenue increased 32.9% year over year, with Cloud revenue increasing 61.5% to $11.6B, while Software revenue declined 3% to $5.5B. Within Cloud, Cloud Infrastructure revenue increased 120.7% to $7.4B and Cloud Applications revenue increased 9.9% to $4.2B. Hardware revenue increased 15% to $0.8B, and Services revenue increased 5% to $1.4B. Oracle’s Q1 total revenue increase reflected strong execution in its Cloud Infrastructure business, with the delivery of 850MW additional datacenter capacity.

Key Operating Metrics¹

METRIC

STATUS

Cloud and Software↑ 32.9%

Cloud↑ 61.5%

Cloud Infrastructure↑ 120.7%

🟢 Scaling

Cloud Applications↑ 9.9%

Software↓ 3%

Software License↓ 14.5%

🟡 Watch

Software Support↓ 1.2%

🟡 Watch

Key Financial Metrics

Gross Margin 60.03% -4.7 pp YoY
Backlog / Revenue 3,431.9% 34.31x Qtr Rev
CapEx Intensity 147.32% 1.47x Revenue

Sources: Oracle Q1 FY2027 Earnings Release — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

ServiceTitan (NASDAQ: TTAN) — Q2 FY2027 Post Earnings

by
ServiceTitan q2 27 post earnings finance note

Operations

Q2 2027
Q2 Revenue ↑ 20.91% YoY $292.76M
Divisions
Platform 97.2%
Professional services and other 2.8%

Key Earnings Driver

Max Platform revenue increased 22% year over year to $284.5M. Within Platform, Subscription revenue increased 22% to $212.4M, and Usage revenue increased 24% to $72.1M. Within Subscription, the company exceeded its goal of doubling Max locations. Professional services and other revenue declined 12% to $8.3M.

Key Operating Metrics¹

METRIC

STATUS

Platform↑ 22%

Subscription↑ 22%

Max

🟢 Scaling

Usage↑ 24%

Key Financial Metrics

Gross Margin 71.41% +0.65 pp YoY
Backlog / Revenue N/A
CapEx Intensity 2.56% 0.02x Revenue

Sources: ServiceTitan Q2 FY2027 Earnings Release — Company Website, ServiceTitan Q2 FY2027 Form 10-Q — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.