Fundamental: valoración profunda

demanda y pedidos — contexto

“the demand for our products and services, including as a result of macroeconomic conditions and changing customer preferences and expectations;”

“events that could disrupt our business, supply chain, technology infrastructure, or demand for our products and services, such as tariffs, trade policy changes or restrictions or international trade disputes, natural disasters, climate change, public health issues, cybersecurity events, and labor disputes;”

deuda —

demanda y pedidos — contexto

“Entertainment revenues are subject to seasonal and other cyclical advertising patterns, changes in viewership and subscriber levels, timing and performance of theatrical releases, and the timing of and demand for film and television programs.”

“Sports revenues are subject to seasonal advertising patterns, changes in viewership and subscriber levels, and the availability of and demand for sports programming.”

flujo vs beneficio — sin explicación clara en el filing

“Balance, March 30, 2025 $ 78,109 162,635 ( 11,740 ) 3,120 ( 75,906 ) See Notes to Consolidated Financial Statements 4 Table of Contents Johnson & Johnson and subsidiaries consolidated statements of cash flows (Unaudited;”

“Fair value measurements The Company uses forward foreign exchange contracts to manage its exposure to the variability of cash flows, primarily related to the foreign exchange rate changes of future intercompany product and third-party purchases of materials denominated in a foreign currency.”

demanda y pedidos — contexto

“Changes to global climate, extreme weather and natural disasters that could affect demand for the Company's products and services, cause disruptions in manufacturing and distribution networks, alter the availability of goods and services within the supply chain, and affect the overall design and integrity of the Compan”

“MedTech In July 2023, the DOJ issued Civil Investigative Demands to the Company, Johnson & Johnson Surgical Vision, Inc., and Johnson & Johnson Vision Care, Inc.”

cuentas por cobrar — el filing CONFIRMA la debilidad

“4 Table of Contents CHEVRON CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET (Unaudited) At March 31, 2026 At December 31, 2025 (Millions of dollars) Assets Cash and cash equivalents $ 5,323 $ 6,293 Time deposits 4 4 Accounts and notes receivable (less allowance: 2026 - $ 175 ;”

“2025 - $ 176 ) 25,256 18,075 Inventories: Crude oil and products 7,468 6,640 Chemicals 520 571 Materials, supplies and other 2,566 2,500 Total inventories 10,554 9,711 Prepaid expenses and other current assets 5,023 4,469 Total Current Assets 46,160 38,552 Long-term receivables (less allowance: 2026 - $ 216 ;”

deuda — sin explicación clara en el filing

“Any borrowings under the facilities would be unsecured indebtedness at interest rates based on the Secured Overnight Financing Rate (SOFR), or an average of base lending rates published by specified banks and on terms reflecting the company's strong credit rating.”

márgenes —

demanda y pedidos — contexto

“Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company's products, and production curtailments due to market conditions;”

“These policies and programs can change the amount of energy consumed, the rate of energy-demand growth, the energy mix and the relative economics of one fuel versus another.”

inventario — sin explicación clara en el filing

“The Company generally hedges portions of its forecasted foreign currency exposure associated with revenue and inventory purchases, typically for up to 12 months.”

“The timing of product introductions can also impact the Company's net sales to its indirect distribution channels as these channels are filled with new inventory following a product launch, and channel inventory of an older product often declines as the launch of a newer product approaches.”

demanda y pedidos — contexto

“Business Seasonality and Product Introductions The Company has historically experienced higher net sales in its first quarter compared to other quarters in its fiscal year due in part to seasonal holiday demand.”

“The Company is experiencing a period of supply constraints and increasing costs for components driven by factors such as industry supply-demand imbalances for components, including advanced semiconductors, storage (NAND) and memory (DRAM).”

flujo vs beneficio — sin explicación clara en el filing

“15 Cash Flow Hedges We designate foreign currency forwards and options (including collars) as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the US dollar.”

“Cash flow hedge amounts included in the assessment of hedge effectiveness are deferred in AOCI and reclassified to revenue when the hedged item is recognized in earnings.”

demanda y pedidos — contexto

“Revenue Backlog As of March 31, 2026, we had $ 467.6 billion of remaining performance obligations (“revenue backlog”), of which $ 462.3 billion related to Google Cloud.”

“Revenue backlog represents commitments in customer contracts that have not yet been recognized as revenue.”

flujo vs beneficio — sin explicación clara en el filing

“Financial Statements: 5 Consolidated Statements of Operations 5 Consolidated Statements of Comprehensive Income (Loss) 6 Consolidated Balance Sheets 7 Consolidated Statements of Changes in Equity 8 Consolidated Statements of Cash Flows 10 Notes to Consolidated Financial Statements 11 Item 2.”

“The fair value of our debt instruments was estimated based on Level 2 inputs, including the trading price of our notes when available, discounted cash flows, and interest rates based on similar debt issued by parties with credit ratings similar to ours.”

demanda y pedidos — contexto

“market conditions, including anticipated supply and demand conditions, and profitability in our industry;”

“future demand for our products and factors that may impact such demand, including developments in AI;”

flujo vs beneficio — explicado por la empresa

“During periods of slowing global economic growth or recession, our customers or key suppliers may experience deterioration of their businesses, cash flow shortages and difficulty obtaining financing or insolvency.”

“require us to dedicate a material portion of our cash flows to the payment of principal and interest on our indebtedness, thereby reducing the availability of our cash flows to fund working capital needs, capital expenditures, product development, satellite construction, acquisitions and general corporate purposes;”

demanda y pedidos — contexto

“reduced demand for products and services as a result of continued constraints on capital spending by customers;”

“We believe that growth in our communication services business will be driven in the coming years by the continued demand for global mobility services (such as our aviation and maritime services), reflecting expected continued increases in the number of aircraft and maritime vessels in service, passenger volumes, intern”

márgenes — sin explicación clara en el filing

“Gross margin for total automotive decreased from 17.2% to 16.9% in the three months ended June 30, 2026 as compared to the three months ended June 30, 2025.”

“Gross margin for total automotive increased from 16.8% to 18.7% in the six months ended June 30, 2026 as compared to the six months ended June 30, 2025.”

demanda y pedidos — contexto

“Of this amount, we expect to recognize $ 220 million in the next 12 months and the rest over the remaining performance obligation period.”

“Changes in regulations on automotive regulatory credits may significantly impact our remaining performance obligations and revenue to be recognized under these contracts.”

demanda y pedidos — contexto

“complications, member confusion, or enrollment backlogs related to the renewal of Medicaid coverage;”

deuda —

demanda y pedidos — contexto

“These include global or regional changes or imbalances in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market factors;”

“Such drivers include, but are not limited to, production enhancements from project and work program activities, acquisitions including additions from asset exchanges, downtime, market demand, natural field decline, and any fiscal or commercial terms that do not affect entitlements.”

márgenes — explicado por la empresa

“Operating Costs Gross margin decreased 150 basis points to 49.5% of net sales for the quarter.”

“Operating income was unchanged at $4.6 billion as the increase in net sales was offset by a decrease in gross margin and an increase in SG&A spending, the components of which are described above.”

demanda y pedidos — contexto

“Net sales growth rates could be negatively impacted by reductions or changes in demand for our Gillette products, which may be caused by, among other things: changes in the use and frequency of grooming products, shifts in demand away from one or more of our higher priced products to lower priced products or potential ”

“If the Company's credit rating were to fall below the levels stipulated in the agreements, the counterparties could demand either collateralization or termination of the arrangements.”

flujo vs beneficio — sin explicación clara en el filing

“Financial Statements Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Shareholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial S”

“Unless stated otherwise, the matters discussed below, if decided adversely to or settled by the Company, individually or in the aggregate, may result in a liability material to the Company's financial position, results of operations or cash flows.”

demanda y pedidos — contexto

“consumer confidence, disposable income, credit availability, spending levels, shopping patterns, debt levels and demand for certain merchandise;”

márgenes — sin explicación clara en el filing

“Gross Margin Q1 2026 compared with Q1 2025 Gross margin increased by approximately $0.1 billion and gross margin percentage decreased 10 basis points to 38.7% compared to 38.8% for the same period of 2025.”

demanda y pedidos — contexto

“The Company's remaining performance obligations as of March 31, 2026, are $ 38,262 million.”

“The Company applied the practical expedient for certain revenue streams to exclude the value of remaining performance obligations for (i) contracts with an original expected term of one year or less or (ii) contracts for which the Company recognizes revenue in proportion to the amount the Company has the right to invoi”

cuentas por cobrar — el filing CONFIRMA la debilidad

“NEE's and FPL's receivables are primarily associated with revenues earned from contracts with customers, as well as derivative and lease transactions at NEER, and consist of both billed and unbilled amounts, which are recorded in customer receivables and other receivables on NEE's and FPL's condensed consolidated balan”

“Receivables represent unconditional rights to consideration and reflect the differences in timing of revenue recognition and cash collections.”

flujo vs beneficio — sin explicación clara en el filing

“NEE and FPL face risks related to project siting, construction, permitting, governmental approvals and the negotiation of project development agreements that may impede their development and operating activities.”

“NEE and FPL could recognize financial losses or a reduction in operating cash flows if a counterparty fails to perform or make payments in accordance with the terms of derivative contracts or if NEE or FPL is required to post margin cash collateral under derivative contracts.”

deuda — sin explicación clara en el filing

“(a) Provide for the funding of loans up to the amount of the credit facility and the issuance of letters of credit up to $1,450 million ($450 million for FPL and $1,000 million for NEECH).”

“The 1999 guarantee is an unsecured obligation of NEE and ranks equally and ratably with all other unsecured and unsubordinated indebtedness of NEE.”

demanda y pedidos — contexto

“With regard to full energy and capacity requirements services, NEER is required to vary the quantity of energy and related services based on the load demands of the customers served.”

“Additionally, NEER takes positions in energy markets based on differences between actual forward market levels and management's view of fundamental market conditions, including supply/demand imbalances, changes in traditional flows of energy, changes in short- and long-term weather patterns and anticipated regulatory a”

flujo vs beneficio — sin explicación clara en el filing

“11 Table of Contents Index to Financial Statements THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) For the Three Months Ended March 31, 2026 2025 (in millions) Operating Activities: Consolidated net income $ 1,338 $ 1,270 Adjustments to reconcile consolidated ne”

“16 Table of Contents Index to Financial Statements ALABAMA POWER COMPANY CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) For the Three Months Ended March 31, 2026 2025 (in millions) Operating Activities: Net income $ 425 $ 375 Adjustments to reconcile net income to net cash provided from operating activities —”

deuda — el filing CONFIRMA la debilidad

“(c) Georgia Power had $ 26 million of letters of credit outstanding under an uncommitted letter of credit facility at March 31, 2026.”

“In addition, Southern Power Company had $ 23 million of letters of credit outstanding under an uncommitted letter of credit facility at March 31, 2026.”

demanda y pedidos — contexto

“variations in demand for electricity and natural gas, including uncertainties related to projected significant growth in electricity demand driven primarily by data centers and other large load customers, and the related requirement for substantial new generation and transmission investments, creating capital access an”

“advances in technology, including the pace and extent of development of low- to no-carbon energy and battery energy storage technologies and the impact of advancing technology on data center and other large load customer demand;”

flujo vs beneficio — sin explicación clara en el filing

“All statements other than statements of historical fact, including statements regarding our business, strategy, customer demand, products and services, results of operations, financial condition, cash flows, capital expenditures and other future events or results, are forward-looking statements.”

“These investments and commitments may require significant cash outlays before, or in excess of, the revenues or cash flows generated by the related capacity, which could adversely affect our cash flows, increase our need for external financing or require us to reduce, delay or reprioritize other investments.”

deuda — explicado por la empresa

“There are risks associated with our outstanding and future indebtedness.”

“As of May 31, 2026, we had an aggregate of $129.5 billion of outstanding indebtedness that will mature between calendar year 2026 and calendar year 2066.”

demanda y pedidos — contexto

“All statements other than statements of historical fact, including statements regarding our business, strategy, customer demand, products and services, results of operations, financial condition, cash flows, capital expenditures and other future events or results, are forward-looking statements.”

“In recent periods, customer demand for our applications and infrastructure technologies delivered through our Oracle Cloud deployment models has increased.”

inventario — explicado por la empresa

“Certain balance sheet components were as follows: Apr 26, 2026 Jan 25, 2026 Inventories: (In millions) Raw materials $ 6,647 $ 3,807 Work in process 9,949 8,822 Finished goods 9,201 8,774 Total inventories (1) $ 25,797 $ 21,403 (1) We recorded inventory provisions of $ 0.8 billion and $ 2.3 billion for the first quarte”

“Apr 26, 2026 Jan 25, 2026 Accrued and Other Current Liabilities: (In millions) Taxes payable $ 10,638 $ 2,669 Customer program accruals 4,182 5,318 Accrued purchase consideration (1) 3,957 3,921 Excess inventory purchase obligations (2) 3,121 2,739 Product warranty 2,948 2,807 Deferred revenue (3) 1,714 1,379 Accrued p”

flujo vs beneficio — sin explicación clara en el filing

“Cash provided by operating activities increased in the first quarter of fiscal year 2027 compared to the first quarter of fiscal year 2026 due to higher revenue.”

demanda y pedidos — contexto

“As of April 26, 2026, revenue related to remaining performance obligations from contracts greater than one year in length was $ 2.6 billion, which includes $ 2.3 billion from deferred revenue and $ 304 million, which has not yet been billed or 14 NVIDIA Corporation and Subsidiaries Notes to Condensed Consolidated Finan”

“The amended complaint asserted that NVIDIA and certain NVIDIA executives violated Section 10(b) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and SEC Rule 10b-5, by making materially false or misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU dem”

inventario — explicado por la empresa

“Represent unconditional purchase commitments to purchase goods or services, primarily inventory, that are enforceable and legally binding on us and specify all significant terms, including fixed or minimum quantities to be purchased, price provisions, and the approximate timing of the transaction.”

“Inventory increased to $4,328 million at May 3, 2026 from $2,270 million at November 2, 2025 primarily to support higher expected shipments for custom AI accelerators.”

cuentas por cobrar — sin explicación clara en el filing

“A contract asset becomes a receivable when invoiced upon the right to consideration becoming unconditional.”

“Accounts Receivable Factoring We sell certain of our trade accounts receivable on a non-recourse basis to third-party financial institutions pursuant to factoring arrangements.”

demanda y pedidos — contexto

“Remaining Performance Obligations Revenue allocated to remaining performance obligations represents the transaction price allocated to unsatisfied or partially unsatisfied performance obligations.”

“Remaining performance obligations include unearned revenue and amounts that will be invoiced and recognized as revenue in future periods.”

flujo vs beneficio — sin explicación clara en el filing

“Financial Statements 5 Consolidated Condensed Statements of Operations 5 Consolidated Condensed Statements of Comprehensive Income 6 Consolidated Condensed Balance Sheets 7 Consolidated Condensed Statements of Cash Flows 8 Notes to Consolidated Condensed Financial Statements 9 Item 2.”

“Other investing activities, net ( 31 ) 111 Net Cash Used for Investing Activities ( 3,916 ) ( 3,353 ) Cash Flows from Financing Activities Dividends paid ( 1,548 ) ( 1,346 ) Net change in short-term borrowings 1,775 ( 1,849 ) Proceeds from issuance of long-term debt —”

demanda y pedidos — contexto

“issues with product supply, regulatory approvals, or other negative outcomes stemming from manufacturing difficulties, disruptions, or shortages, including as a result of unpredictability and variability in demand, labor shortages, third-party performance, quality, cyber-attacks, or regulatory actions related to our an”

“Insulin and Other Pricing Investigations We have been subject to various investigations and received subpoenas, civil investigative demands, information requests, interrogatories, and other inquiries from various governmental entities related to pricing issues, including the pricing and sale of insulin medications, and”

flujo vs beneficio — sin explicación clara en el filing

“our expected financial performance, including cash flows, revenue, margins, net income and earnings per share;”

“the amount and timing of our income and cash flows, which may be impacted by macroeconomic, customer, supplier, competitive, contractual, financial or accounting (including changes in estimates) and other dynamics and conditions;”

deuda — el filing CONFIRMA la debilidad

“The Company also holds a five-year unsecured revolving credit facility, maturing in 2029, in an aggregate committed amount of $3.0 billion, with zero outstanding at June 30, 2026.”

“Our unused back-up revolving syndicated credit facility contains a customary net debt-to-EBITDA financial covenant, which we satisfied at June 30, 2026.”

márgenes —

demanda y pedidos — contexto

“market or other developments that may affect demand or the financial strength and performance of airframers, airlines, suppliers and other key aerospace industry participants, such as demand for air travel, supply chain or other production constraints, shifts in U.S.”

“and other countries, or demand or supply shocks from events such as a major terrorist attack, war (including conflict in the Middle East), natural disasters or actual or threatened public health pandemics or other emergencies;”

flujo vs beneficio — sin explicación clara en el filing

“Financial Statement s (unaudited) Consolidated Statement of Income - Quarters Ended March 31, 2026 and 2025 4 Consolidated Statement of Comprehensive Income - Quarters Ended March 3 1 , 202 6 and 20 25 5 Condensed Consolidated Balance Sheet - March 31 , 202 6 and December 31, 202 5 6 Condensed Consolidated Statement of”

“The objective of financial risk management at Linde is to minimize the negative impact of such fluctuations on the company's earnings and cash flows.”

deuda — sin explicación clara en el filing

“dollar denominated unless otherwise noted) 3.20 % Notes due 2026 (b) —”

demanda y pedidos — contexto

“Customers that require the largest volumes of product and that have a relatively constant demand pattern are supplied by cryogenic and process gas on-site plants.”

“7 2,821 35 % Other 56 8 47 565 257 933 12 % Total $ 3,666 $ 2,031 $ 1,539 $ 565 $ 311 $ 8,112 100 % Remaining Performance Obligations As described above, Linde's contracts with on-site customers are under long-term supply arrangements which generally require the customer to purchase their requirements from Linde and al”

cuentas por cobrar — sin explicación clara en el filing

“CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, 2026 December 31, 2025 (In Millions) ASSETS Current assets: Cash and cash equivalents $ 3,737 $ 3,824 Restricted cash and cash equivalents 280 230 Trade accounts receivable 681 977 Value added and other tax receivables 666 686 Inventories: Product 3,042 3,332 Materials ”

“Other financial instruments include cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, PTFI mud rush incident insurance settlement receivable, investment securities, legally restricted trust assets, accounts payable and accrued liabilities, accrued income taxes, dividends payable and ”

deuda — sin explicación clara en el filing

“DEBT AND EQUITY The components of debt follow: March 31, 2026 December 31, 2025 PT Freeport Indonesia (PTFI) revolving credit facility $ 250 $ 250 Senior notes and debentures: Issued by FCX 5,289 5,287 Issued by PTFI 2,987 2,985 Issued by Freeport Minerals Corporation 351 352 Atlantic Copper 515 482 Other 22 23 Total d”

“FCX and PTFI have a $ 3.0 billion, senior unsecured revolving credit facility that matures in October 2027.”

demanda y pedidos — contexto

“We believe fundamentals for copper are favorable with growing demand supported by copper's critical role in electrification initiatives, continued urbanization in developing countries, data centers and artificial intelligence (AI) growth and growing connectivity globally.”

“LME and COMEX copper prices are market-driven and subject to change based on current and future tariff rates, additional changes in trade policies, domestic inventory levels, supply and demand, and other factors.”

flujo vs beneficio — sin explicación clara en el filing

“Acquisitions of businesses and intangible assets ( 372 ) ( 1 ) Other investing activities 155 11 Net cash used in investing activities ( 33,678 ) ( 20,010 ) Cash flows from financing activities Taxes paid related to net share settlement of equity awards ( 4,423 ) ( 4,883 ) Repurchases of Class A common stock —”

“This judgment included, but was not limited to, considering future conditions that may impact the fair value of the Venture's long-lived assets (including expectations of payments under the RVG) or the Venture's ability to generate cash flows.”

demanda y pedidos — contexto

“In addition, beginning in November 2024, counsel for over one hundred thousand individual claimants have sent mass arbitration demands relating to "social media addiction" and related harms allegedly caused by Instagram.”

“Other Actions Beginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size for advertisements, resulting in artificially increased demand and higher prices.”

cuentas por cobrar — sin explicación clara en el filing

“Accounts Receivable, Net and Other Included in “Accounts receivable, net and other””

“on our consolidated balance sheets are receivables primarily related to customers, vendors, and prepaid expenses and other current assets.”

flujo vs beneficio — sin explicación clara en el filing

“Financial Statements 3 Consolidated Statements of Cash Flows 3 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Income 5 Consolidated Balance Sheets 6 Notes to Consolidated Financial Statements 7 Item 2.”

“These consolidated financial statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our consolidated cash flows, operating results, and balance sheets for the periods presented.”

deuda — sin explicación clara en el filing

“Employer Identification No.) 410 Terry Avenue North , Seattle, Washington 98109-5210 ( 206 ) 266-1000 (Address and telephone number, including area code, of registrant's principal executive offices) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange o”

“(2) Includes $ 2.8 billion of floating rate notes due in 2028 and 2029.”

demanda y pedidos — contexto

“Working capital at any specific point in time is subject to many variables, including variability in demand, inventory management and category expansion, the timing of cash receipts and payments, customer and vendor payment terms, and fluctuations in foreign exchange rates.”

“These could affect customer demand for our products and services, our ability to forecast growth needs, expenses, and benefits from new technologies.”

inventario — sin explicación clara en el filing

“As of March 31, 2026, total contract liabilities from contracts with customers recognized within current other liabilities was $ 151 million, mainly due to fees related to classified advertising services billed, subscriptions and loyalty programs, shipping services and inventory sales that are expected to be recognized”

“The amendments in this update improve financial reporting by requiring disclosure of additional information about certain costs and expenses in the notes to financial statements at interim and annual reporting, such as the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amort”

deuda — sin explicación clara en el filing

“As of March 31, 2026 and December 31, 2025, the carrying value of the Company's financial liabilities (except for the 3.125 % Notes due 2031 (the “2031 Notes”) and the 4.900 % Notes due 2033 (the "2033 Notes")) not measured at fair value approximated their fair value mainly because of their short-term matur”

“Senior Notes On January 14, 2021, the Company issued $ 400 million aggregate principal amount of 2.375 % Sustainability Notes due 2026 (the “2026 Sustainability Notes”) and $ 700 million aggregate principal amount of 3.125 % Notes due 2031 (the “2031 Notes”).”

márgenes —

demanda y pedidos — contexto

“We began first by satisfying the growing demand for online-based payment solutions by providing merchants the necessary digital payment infrastructure for e-commerce to flourish in Latin America.”

cuentas por cobrar — sin explicación clara en el filing

“Condensed Consolidated Balance Sheets (In Thousands, Except Share and Per Share Data) March 31, 2026 December 31, 2025 (Unaudited) Assets Current assets: Cash and cash equivalents $ 222,266 $ 228,616 Short-term available-for-sale investments 528,609 348,876 Receivables, net 149,620 32,149 Inventory 79,073 80,128 Prepai”

“Non-cash other 982 832 Changes in operating assets and liabilities: Receivables, net ( 116,247 ) ( 864 ) Inventory ( 20,303 ) ( 11,669 ) Prepaid expenses and other current assets 645 ( 16,375 ) Other long-term assets ( 8,364 ) 73 Accounts payable 167,643 14,473 Accrued liabilities 10,016 4,351 Deferred revenue 37,980 3”

flujo vs beneficio — sin explicación clara en el filing

“Financial Statements 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income 2 Condensed Consolidated Statements of Stockholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.”

“Condensed Consolidated Statements of Cash Flows (Unaudited) (In Thousands) Three Months Ended March 31, 2026 2025 Operating activities Net (loss) income $ ( 92,115 ) $ 49,485 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 21,953 8,276 Stock-based c”

márgenes — explicado por la empresa

“We continuously test and optimize the online experience and offerings to improve the customer experience, maximize sales, and improve gross margin.”

“In recent quarters, there has been a shift towards shorter shipping cadences, which has impacted our gross margins.”

demanda y pedidos — contexto

“In October 2023, the Federal Trade Commission (the “FTC”) issued to the Company a Civil Investigative Demand (the “CID”) requesting information regarding the Company's privacy, advertising, and cancellation practices as part of a non-public investigation related to the Restore Online Shoppers' C”

“Consumer tastes, preferences, and sentiment for our brands may also change and result in decreased demand for our products and services.”

inventario — explicado por la empresa

“The guidance requires disaggregation of certain costs and expenses included in each relevant expense caption on our consolidated income statements in a separate note to the financial statements at each interim and annual reporting period, including amounts of purchases of inventory, employee compensation, depreciation,”

“Windows OEM and Devices revenue decreased 2% driven by a decline in Devices, offset in part by growth in Windows OEM as OEM partners continue to build inventory due to increasing memory pricing.”

flujo vs beneficio — sin explicación clara en el filing

“We have recast certain prior period amounts on our consolidated cash flows statements to conform to the current period presentation.”

“The recast of these prior period amounts had no impact on our consolidated balance sheets, consolidated income statements, or net cash from (used in) operations, investing, or financing on our consolidated cash flows statements.”

deuda —

demanda y pedidos — contexto

“Estimating revenue that will be allocated to remaining performance obligations can involve significant judgments, including identifying and assessing variable consideration and potential renegotiation of commitments.”

“Revenue allocated to remaining performance obligations related to the commercial portion of revenue was $ 627 billion as of March 31, 2026, with a weighted average duration of approximately 2.5 years.”