To The Moon

1. $Snap Inc(SNAP)$ jumped 16.85%

• Revenue: $1.506B vs $1.49B expected (+1.1% beat)

• Adjusted EPS: -$0.06 vs -$0.12 expected (+50% beat)

• Outlook: Q4 2025 revenue expected $1.68–1.71B (midpoint $1.695B vs $1.69B consensus), adjusted EBITDA $280–310M vs $255.4M expected

Stock rose after Q3 results beat expectations and announced $500M stock repurchase program. Meantime, Snap announced a $400M partnership with Perplexity AI to integrate AI-powered answers directly into Snapchat.

Snap CEO Evan Spiegel highlighted partnership with Perplexity AI, integrating conversational AI into Snapchat starting early 2026, with $400M revenue expected over one year. He emphasized opportunity to distribute AI agents through Snapchat’s chat interface.

2. $Figma(FIG)$ rose 4.86%

• Revenue: $274.17M vs $263.91M expected (+3.89% beat)

• EPS: $0.10 vs $0.04 expected (+150% beat)

• Outlook: Q4 Revenue expected $292M to $294M (implies 35% YoY growth), above LSEG’s $283M consensus. fiscal year 2025 revenue to be between $1.044 billion and $1.046 billion, compared with the average analyst estimate of $1.023 billion.

Figma's stock rose due to stronger-than-expected Q3 revenue, driven by strong customer expansion and growth in its AI-driven Figma Make product, along with positive Q4 guidance exceeding analyst expectations.

Figma CEO and co-founder Dylan Field said, “Our incredible quarter was driven in part by AI product investments in Figma Make and our MCP server, which are spreading Figma to new teams and new audiences. AI is redefining how software gets built, moving value up the stack to design––and we are building the platform where anyone can go from idea to product.”

3. $e.l.f. Beauty Inc.(ELF)$ plummeted 23.76%

• Revenue: $343.9M vs $365.8M expected (-5.9% miss)

• Adjusted EPS: $0.68 vs $0.57 expected (+19% beat)

• Outlook: FY 2025 adjusted EPS $2.80–$2.85 vs $3.53 expected; revenue $1.55–$1.57B vs $1.65B expected

ELF shares dropped after its annual guidance for adjusted earnings and sales fell below Wall Street’s forecasts, as uncertainty swirls around the American consumer.

CEO Tarang Amin said prior guidance was unavailable due to tariff uncertainty. He highlighted strong market share gains and sales growth, noting consumers are responding well to E.l.f.’s pricing strategy despite higher tariffs. The recent acquisition of Hailey Bieber’s Rhode brand is expected to contribute $200M in sales this year, with further international growth potential.

4. $Duolingo, Inc.(DUOL)$ plunged 21.28%

• Revenue: $271.7M vs. $260.32M expected (+4% beat)

• EPS: $5.95 vs. $0.76 expected (+685% beat)

• Outlook: Q4 2025 revenue guidance of $273M-$277M, versus the consensus of $274.5M. Q4 Bookings Guidance of $329.5M to $335.5M, below Wall Street's $343.6M expectation.

Duolingo's stock dropped due to a weaker-than-expected Q4 bookings forecast, as the company shifted focus towards user growth and teaching quality, overshadowing its strong Q3 revenue beat.

“We passed a major milestone this quarter: more than 50 million people now use Duolingo every day,” said . “That kind of scale gives us a unique opportunity to deliver impact, and we’re doing that by making our product even more engaging and efficacious.”

“We’ve had a great 2025 so far, with DAUs and revenue both up 40% or more in the first nine months, compared to the same period last year, all while expanding profitability. We think we are early in our journey, and by continuing to put learners first, we believe we’ll become a much larger business over the long-term.”