SoundHound AI Inc (NASDAQ:SOUN) reported a record quarter with an 80% increase in Q4 revenue to $17.1 million and an 80% improvement in adjusted EBITDA year-over-year. The company's bookings backlog doubled to $661 million, and its net loss decreased by 42% in Q4. Despite challenges, including ongoing investments in research and development, the company's strong financial position and robust growth projections signal a promising future in the voice AI industry.
Unity Software Inc reported mixed Q4 results, with a 35% increase in revenue to $609 million, driven by a one-time transaction. The company's strategic reset focuses on core businesses and aims to reduce annualized non-GAAP operating expenses by approximately $250 million. Unity anticipates revenue growth acceleration in the second half of 2024 and aims for Adjusted EBITDA margins over 25% by year-end. Despite the mixed results, the company remains optimistic about its future in the gaming and real-time 3D markets.
ZIM Integrated Shipping Services reported a net loss of $2.27 billion for the third quarter of 2023, compared to a net income of $1.17 billion in the same period last year. The loss was primarily driven by a non-cash impairment loss of $2.06 billion. Revenues for the quarter decreased by 61% year-over-year to $1.27 billion. ZIM revised its full-year guidance, expecting adjusted EBITDA of $900-$1,100 million and an adjusted EBIT loss of $600-$400 million for 2023. The company cited weak demand and deteriorating freight rates as the reasons for the revision. ZIM is implementing cost control measures and a fleet renewal program to improve its cost structure and drive long-term growth.
Curaleaf Holdings, a leading provider of cannabis consumer products, reported its financial and operating results for the third quarter of 2023. The company achieved a revenue of $333 million, representing a 2% increase year-over-year, and an adjusted EBITDA of $75 million. Curaleaf reduced its inventory by $18 million, ending the quarter with $118 million in cash. The company is optimistic about its future prospects, with upcoming state and regulatory catalysts, a proposed uplisting to the Toronto Stock Exchange, and a strong presence in Europe.
DraftKings reported revenue of $875 million in the second quarter of 2023, an 88% increase compared to the same period last year. The company raised its 2023 revenue guidance midpoint by $315 million to $3.5 billion and improved its 2023 adjusted EBITDA guidance midpoint by $110 million to ($205) million. DraftKings also highlighted continued growth in customer retention, acquisition, and engagement, with an increase in monthly unique paying customers and average revenue per customer. The company expects to generate $150 million to $175 million of adjusted EBITDA in the fourth quarter of 2023 and plans to launch its sportsbook product in Kentucky this fall.
Lumen Technologies reported Q2 non-GAAP EPS of $0.10, beating expectations by $0.02. Revenue for the quarter was $3.66 billion, in line with expectations. The company generated adjusted EBITDA of $1.229 billion, compared to $1.811 billion in the same period last year. Lumen Technologies also provided its 2023 outlook, including adjusted EBITDA of $4.6 to $4.8 billion, free cash flow of $0 to $200 million, net cash interest of $1.1 to $1.2 billion, and capital expenditures of $2.9 to $3.1 billion.
Avis Budget Group reported better-than-expected Q2 earnings, with revenue down 4% compared to last year. The Americas segment saw a 5% drop in revenue, while the international segment saw a 3% increase. Net income was $436M, down from $774M a year ago, and adjusted EBITDA was down 39% to $737M. Despite the decline in profitability, Avis Budget Group had a positive balance sheet with a liquidity position of approximately $1.1B and no significant debt maturities until mid-2025. Shares of Avis Budget Group rose 2.37% in after-hours trading.
FMC Corporation, a global agricultural sciences company, has updated its expectations for the second quarter and full-year 2023 outlook. The company experienced significant reductions in channel inventory by customers in North America, Latin America, and EMEA, which impacted volumes in the quarter. However, on-the-ground consumption by growers remains robust. FMC has initiated cost mitigation actions and expects improved input costs in the second half of the year. The revised guidance for the second quarter includes revenue between $1.00 billion and $1.03 billion, and adjusted EBITDA in the range of $185 million to $190 million. The full-year revenue outlook is now expected to be $5.20 billion to $5.40 billion, with adjusted EBITDA projected to be $1.30 billion to $1.40 billion.
Online car retailer Carvana's stock price surged 56% after the company announced a forecasted record profit for Q2 2023, with an adjusted EBITDA north of $50 million and a non-GAAP total gross profit per unit above $6,000. The company's persistent focus on driving profitability has resulted in significant savings and efficiencies, according to Carvana founder and CEO Ernie Garcia. Despite improved adjusted profitability in Q1 2023, Carvana's revenues declined compared to the year-ago period.
DoorDash raised its annual core profit forecast after beating quarterly revenue expectations, benefiting from an increase in orders for food, groceries, and convenience products despite stubbornly high inflation. The food delivery company now projects annual adjusted EBITDA between $600 million and $900 million and expects gross order value to be between $63 billion and $64.5 billion for 2023. DoorDash's revenue rose 40% to $2.04 billion in the quarter ended March 31, compared to analysts' estimate of about $1.93 billion.
Uber's Q1 earnings beat estimates with a GAAP EPS of -$0.08 and revenue of $8.8B, up 27.5% YoY. Gross bookings grew 19% YoY, while adjusted EBITDA was $761M, up $593M YoY. The company's adjusted EBITDA margin as a percentage of gross bookings was 2.4%, up from 0.6% in Q1 2022. Uber's Q2 2023 outlook anticipates gross bookings of $33.0B to $34.0B and adjusted EBITDA of $800M to $850M.
Carnival Corp reported Q1 FY23 sales of $4.43 billion, beating the consensus of $4.33 billion, with revenue growing 95% from 2019 levels and jumping 173% from the prior year. The company expects FY23 adjusted EBITDA of $3.9 billion - $4.1 billion and an occupancy rate of 100% or higher. Despite the positive results, Carnival shares are trading lower by 0.54% at $9.17.
