High-Revenue Companies with Double-Digit Growth: 2025 Earnings Analysis

Executive Analysis: High-Growth, Large-Scale Companies—A Review of Revenue Thresholds and Year-over-Year Performance

Executive Summary

This report scrutinizes the responses of five public companies to the inquiry focused on identifying firms with annual revenue above $10 billion and at least 10% year-over-year revenue growth. The analysis follows a structured approach: summarizing each company's data, conducting a comparative review, highlighting major insights, offering clarifications for complex metrics, and concluding with practical findings derived solely from the provided company responses.

Summary of Company Responses

1. Salesforce, Inc. (CRM)

Annual Revenue: $37.9 billion (FY2025)
Year-over-Year (YoY) Growth: 9% in total revenue (just below the 10% criterion)
Segment Performance: Subscription & Support revenue rose just over 10% in constant currency; Data Cloud & AI ARR grew nearly 120%
Profitability & Cash Flow: Operating cash flow increased 28% to $13.1 billion; free cash flow up 31% to $12.4 billion
Future Guidance: FY2026 Subscription & Support revenue growth projected at ~9% (constant currency)
Other Data: Remaining performance obligation (RPO) now exceeds $60 billion, highlighting strong forward-looking revenue visibility

2. Sterling Check Corp. (STER)

Annual Revenue: $720 - $730 million (2023)
YoY Growth: -4.5% to -6% overall, with organic revenue decline expected at -7% to -8.5%
Eligibility: Revenue is significantly below the $10 billion threshold; negative growth
Highlights: Cited prior quarters of organic growth but is navigating macroeconomic headwinds and weakened base volumes

3. Informatica Inc. (INFA)

Quarterly Revenue (Q1 2025): $404 million
Projected Annual Revenue: Q2 guidance $391 - $411 million (does not sum to $10 billion annually)
YoY Growth: Q1 growth at 3.9%; Cloud subscription ARR up 30% to $848 million, but insufficient total scale
Eligibility: Fails both revenue and growth thresholds

4. SoFi Technologies, Inc. (SOFI)

Quarterly Adjusted Net Revenue (Q1 2025): $771 million
Projected 2025 Revenue: $3.24 - $3.31 billion, with 24% to 27% YoY growth
Growth: YoY revenue growth significantly exceeds 10%, driven by broad segment expansion
Eligibility: Below the $10 billion revenue requirement, despite strong growth

5. VMware, Inc. (VMW)

Annual Revenue (FY2022): $12.85 billion
YoY Growth: 9% (FY2022); FY2023 projected at 7%
Eligibility: Meets revenue threshold, but not the 10% growth criterion

Comparative Analysis

Revenue Threshold

Meeting $10B+ Revenue:
- Salesforce and VMware both exceed the annual revenue requirement.
Significantly Below Threshold:
- Sterling, Informatica, and SoFi report annual revenue well below $10 billion.

Year-over-Year Growth

Exceeding 10% YoY Growth:
- SoFi stands out with over 24% YoY growth, but its revenue is below the threshold.
Near, But Not At 10%:
- Salesforce (9% overall), VMware (9% in FY2022, 7% forecast next year).
Negative Growth:
- Sterling experienced declining revenues.
Moderate, Positive Growth:
- Informatica reported modest 3.9% overall revenue growth, though its cloud subscription ARR grew 30%.

Additional Observations

Segment-Level Growth:
- Salesforce's Subscription & Support revenue increased over 10% in constant currency, a notable detail though not fully meeting the prompt's criteria for the whole company.
- Informatica's cloud ARR exemplifies high segment-specific growth within a smaller overall revenue base.
Cash Flow & Profitability:
- Salesforce highlighted significant growth in operating and free cash flow.
Forward Guidance & Visibility:
- Salesforce indicated strong future revenue visibility with its RPO metric.

Key Insights and Observations

Recurring Themes

Scale and Growth Inversion: The larger the company's revenue base, the harder it appears to sustain double-digit growth on an annualized, consolidated basis.
Segment Outperformance: Several companies, notably Salesforce and Informatica, report double- or even triple-digit growth in newer or targeted business segments even as overall revenue growth remains moderate or below target.
Profitability Acceleration: While the question centers on top-line growth, both Salesforce and VMware refer to ongoing profitability and margin improvements in tandem with revenue expansion.

Notable Outliers

SoFi Technologies: Is a strong performer in terms of growth but does not approach the scale required to meet the dual criteria.
Sterling Check Corp.: Not only fails to meet revenue and growth targets but also experiences negative trends due to broader macroeconomic challenges.

Explanation of Complex Metrics

Key Terms Defined

Annual Recurring Revenue (ARR): A metric popular among software and subscription-based businesses, reflecting the yearly value of recurring revenues from contracts or subscriptions. It is used to gauge the sustainability and predictability of a company's top-line performance.
Remaining Performance Obligation (RPO): Reflects contractually committed revenue yet to be recognized, indicating the company’s visibility into future revenue streams.
Constant Currency: Adjusts financial figures to exclude the impact of exchange rate fluctuations, providing a clearer picture of organic business growth.
Operating Cash Flow and Free Cash Flow: Indicators of actual cash generated by a company’s standard operations, critical for assessing liquidity and long-term viability.

Conclusions

Based exclusively on the provided responses:

No Company Fully Meets Both Criteria:
None of the respondent companies reported both $10+ billion in annual revenue and at least 10% consolidated, year-over-year revenue growth.
Salesforce and VMware: Close, But Not Exact:
Both Salesforce and VMware exceed the revenue threshold but fall marginally short of the required growth rate (9% growth versus a 10% requirement).
Excellence in Sub-Segments:
Salesforce, in particular, demonstrates double-digit—and even triple-digit in new business lines (e.g., Data Cloud & AI)—growth in individual segments, though this does not carry through to total company performance.
Strong Growth at Smaller Scale:
SoFi records impressive revenue growth rates above 20%, but its total revenue base remains below $10 billion, making it ineligible per the initial question.
Negative or Modest Growth Among Others:
Sterling and Informatica do not meet either the scale or growth prerequisites, with Sterling showing revenue contraction and Informatica delivering modest overall growth but strong performance in cloud-specific lines.

Strategic Implications and Recommendations

Benchmark Nuance:
When identifying high-growth, large-scale peers, minor deviations from set thresholds might warrant qualitative recognition, especially if segment-specific performance vastly exceeds consolidated results.
Segment-Level Focus:
Investors and analysts may benefit from tracking growth in high-potential segments even if total company metrics fall short, as these areas can signal future companywide acceleration.
Profitability and Cash Flow:
Sustained margin and cash flow improvement, as reported by Salesforce, reflect an alternative lens for evaluating company performance beyond topline expansion, especially at scale.
Forward Visibility:
High remaining performance obligation (RPO) may suggest reliable forward revenue performance, even if recent YoY growth is slightly below targets.

In summary, while no company from the provided dataset strictly meets both defined criteria, Salesforce and VMware remain closest to qualifying, typically missing the growth benchmark by a narrow margin. This underscores the practical challenges of sustaining rapid expansion at a large operational scale and highlights the value of evaluating both holistic and segmental performance indicators.