Market FeedbackStrong Q4 Growth Beyond ExpectationsSubscription revenue up 24%, Confluent Cloud revenue up 38% to $138 million, Non-GAAP operating margin of 2.9%; 55% Confluent Cloud share, 13% adoption of DSP components in the cloud business; 26% international revenue growthAll guidance metrics exceeded expectations, reflecting the company's transition to a consumer-driven go-to-market model **Growth drivers:** Continued adoption of DSP products, new product launches (e.g., Tableflow), and strategic partnerships with Databricks and Jio PlatformsGuidanceQ1 2025.Subscription revenue expected to be between $253 million and $254 million, 22%-23% growthNon-GAAP net income per share expected to be $0.06-$0.07Overall fiscal year 2025Subscription revenue expected to be in the range of $1,117 mill

$Upstart Holdings, Inc.(UPST)$ jumped more than 25% after announcing Q4 results on Feb 11th after-hours.Earnings and Market FeedbackQ4 results were a "big beat": Rev 218M > 182M consensus, Surprise reached 20%, and EPS 0.26 > -0.03, not only an early turnaround, but also well ahead of market expectations;Raised guidance for CY25: est CY25 Rev 1B > 823M consensus, 25Q1 Rev 200M > 185M consensus; est CY25 EBITDA margin 18% > 13% consensus, Q1 EBITDA 27M >10.7consensus.The +25% start directly after the bell saw the stock pull up from around 70 to a former high of around 85, although the former high was tested twice and is now also an already important resistance/breakout level;Investment HighlightsNew model Payment Transition Model