Calix reported second quarter 2025 revenue of $242 million, representing 10% sequential quarterly growth.
Cash and investments totaled $299 million after $33 million in share repurchases.
Days sales outstanding (DSO) improved to a record 24 days, down 6 days sequentially and 14 days year-over-year.
Free cash flow reached a record $36 million, marking the ninth consecutive quarter with 8-digit free cash flow.
Inventory turns were 3.4%, slightly down from 3.6% in the prior quarter.
Record non-GAAP gross margin of 56.8%, up 60 basis points sequentially, driven by customer mix and platform adoption.
Record remaining performance obligations (RPOs) grew 2% sequentially to $347 million and 30% year-over-year, with current RPOs at $134 million, up 5% sequentially and 30% year-over-year.
Contracted backlog (RPO) increased 29% to $690 million, with current RPO up 14% to $451 million.
Free cash flow was negative $16 million due to seasonality and working capital changes, but full-year free cash flow outlook was raised due to favorable tax legislation.
GAAP operating income improved to $7 million from a loss of $5 million a year ago, with GAAP operating margin expanding by 7 points.
LiveRamp delivered strong Q1 fiscal 2026 results with total revenue of $195 million, up 11% year-over-year, exceeding guidance by $4 million.
Non-GAAP operating income increased by 34% to $36 million, $3 million above guidance, with operating margin expanding by 3 points to a record 18%.
Operating expenses increased modestly by 2% year-over-year to $105 million, in line with expectations.
Subscription revenue grew 10% to $148 million, with subscription usage revenue up approximately 40% driven by easy comps and one-time items.
All six industry verticals and all three geographic regions showed year-over-year growth, with financial services up 34.4% and emerging verticals up 28.7%.
Cash flow from operations was $53 million, and free cash flow was $43 million, slightly lower than the prior year.
EPAM reported Q2 2025 revenue of $1.353 billion, an 18% year-over-year increase, surpassing the upper end of guidance.
GAAP diluted EPS was $1.56, and non-GAAP diluted EPS was $2.77, up $0.32 year-over-year.
GAAP gross margin was 28.8%, slightly down from 29.3% a year ago, impacted by higher variable compensation and recent acquisitions.
Headcount grew 18.7% year-over-year to over 62,000 employees, with utilization improving to 78.1%.
Non-GAAP income from operations was $203 million or 15% of revenue, up from $175 million or 15.2% last year.
Organic constant currency revenue grew 5.3% year-over-year, marking the third consecutive quarter of positive organic growth.
Ad impressions grew 55% year-over-year, while ad pricing declined 25% due to a mix shift towards lower-priced international markets.
Adjusted EBITDA was $251 million with a margin of 25%, up approximately 310 basis points year-over-year, exceeding expectations.
Cost of revenue increased 10% to $197 million, and non-GAAP operating expenses rose 14% to $555 million, reflecting investments in AI, product initiatives, and sales.
Dilution mitigation efforts led to a 1% decline in fully diluted share count year-over-year.
Free cash flow for Q2 was $197 million, and cash and equivalents totaled $2.7 billion at quarter-end.
Global monthly active users (MAUs) reached 578 million, an 11% increase year-over-year, marking another record high.
Pinterest reported Q2 2025 revenue of $998 million, up 17% year-over-year on both reported and constant currency basis.
Revenue growth was driven by strength in retail and financial services verticals, with notable geographic growth: US & Canada revenue grew 11%, Europe 34%, and Rest of World 65%.
Dafinchi