and we were non-gaap profitable at about 15%.n you get to ready to reenter the public markets, what they want to know is how long can that sustain what they all call durable growth. and i think they see the secular tailwinds in our market, this this rush to machine and agent i that the number of enterprises around the world that don't feel like they fully secured their environment through the lens of identity. and they think sailpoint is fairly uniquely positioned to capitalize on that in the coming years. i think that's what the investors were really interested in our story. >> but but so it's what about gaap profitable and how long does that take and how much of the business is driven by subscription, which i would think would be much more profitable. >> great question. you know, as a software business, we were once a software. what's called perpetual license had been shifting to saas, but we ceased selling those, what's called perpetual perpetual licenses and move to what's called term licenses. net net, we're over 90% subscri

we're on our way to nine figures of gaap revenue next year. >> would it even make sense to compare? okay, let's take a security you mentioned for one of the companies that you follow, you know, you're you're making the sales pitch and you've got, you know, three ai players over here, well capitalized big brand names. and you say you should go with us because, you know, even quantum or no quantum, what is the what is the because for customers in the here and now. >> the because is we're the only person that's actually commercializing, scaling, manufacturing and doing useful stuff with quantum computers today. we're not saying that we're going to beat, you know, chatgpt for today. the examples i just gave you are what we're doing today. but as our computers get more powerful, what people always forget about the space is it moves forward kind of exponentially. so if five years ago, no one thought chatgpt one was interesting, right? two, it was a hobby, right? all of a sudden, three comes out like, oh. it's so true. look at this. right. and so what i remind people is when i did the ipo

mark used to be. >> crm gaap buck 75 non gaap 278 i. >> mean but it's still. >> i got it. >> and by the way it's not a concern of investors. >> i just tell. >> you this on adjusted versus non. >> but i focus on gross margins. we've talked about gross margin. used to be in the 20s now in the 30s. why is that. because of your friends at hedge funds who pressured him. >> the activists who came. >> in at. >> some time back now. >> right. and they pressured him to higher gross margins. >> mark made good on it. >> in fact, kind. >> of. embraced it. >> he did something he did. memo to people who i hate the activists, the activists came in. he said, you know, you guys are brilliant. and then he proceeded to overwhelm them with phone calls. finally they said, okay, whatever you want, mark. we're tired. you're tired. we're tired of you doing exactly what we said you do. well. >> he did. >> do it. >> robin washington. i saw her after the cfo. >> jim. i mean, the stock. it's not. >> a. >> big decline, but it was it's not. >> it was down 16 at one point and it was at 308 at one point. i said the

closer look at the man leading beyond groups, promising to drive on the communities on the car. ne, non gaap is not new to colleagues, politics. he's now the leader of the congo re lines, a coordination of rebel groups, which includes the run, the back in $23.00. 50 can live sweets all good d r c is north key recordings, including its capital goma. the book says its mission is to save the lease from fog governance and marginalization. yeah. fighting for fighting for yeah, no fighting for anything in what you say about accomodation or the government, the u. n. and several other countries including the us friends in south africa. i see wanda, is calling the shots. we can choose to fight you and me because we have that problem. but we also, we couldn't, we can also just choose to talk we are open to any discussion. but the discussion should be between just that a g at all organization nanda started. he's korea fall from the bible's build. he studied economics and can just stop and work for several humanitarian organizations. that's what he's political. the turning point was as the head of the e

in the del quinn, now non gaap and his convoy were departing, several people were killed and many others were injured. though the exact tool or the origin of the explosion remains a bit unclear, we are being told that 13 people have been confirmed did last 40 inches from watts . we know the incident occurred as the radi bind to him to the city was drawing to a close, catching the assembled participants off guard seems of panic and confusion then broke out with people running the old directions, trying to find some soft, soft shelter the images and video, so today to social media and on the screen. so the extent of the violence of this explosion which supports many victims, both into and did. some of these reports also tell us that local authorities immediately condemned to get tax, which they described as a table of risk act and opened an investigation to determine the exact circumstances of the explosion. and also identified those responsible all of this. and like many a full crises and explosions is always one to play and really a pro, entering the city sources accused comedies. govern

you have the gaap accounting change that companies can hold bitcoin on their balance sheet as an asset just as something that's been impaired. so now they can mark it to market that's a big deal number one. number two you've got the 121 repeal and it's finally been completely repealed and the sec dropped it and now, banks, financial institutions, can hold bitcoin and now they can start structuring products around it. lending products, collateral products. that's another big deal and they will be able to trade bitcoin for their customers, right on their own platforms, big banks. that's a really big deal. then you've got this administration being pro-crypto, and pro-bitcoin in particular. that helps with regulation and the stablecoin bill that's coming. these are all things that the bitcoin community wants, because it gives clarity for institutional investors to come into the space and feel comfortable owning it as a separate asset. charles: what about the general narrative? my office used to be next to john stassel, whose one of the biggest anti-establishment guys out there and his team

the company is finally finding its way to real gaap profitability.hink that makes a difference to certain investors having this turn into more of an oligopoly kind of market. and it's going to make this much more stable. and i think a more investable class for, you know, people like me who have been a little bit concerned. i agree, though, that the regulatory landscape is actually pretty critical to the story, as more and more states recognize that this is an opportunity for tax revenue, they're going to want to coalesce around a few players. they're not going to want to issue widespread licenses. and i think that only benefits the larger players like draftkings. >> mike, you had eagles -32. what are you seeing in wynn? >> well, wynn saw more than ten times its average daily call volume today. and you know, the top line has been a little bit stagnant. but if they can at least get back to 3 or 4% top line. and some of the other stuff that we've been hearing, you know, remains intact, then, you know, a 10% pop, you know, basically you're only incorpora

that was like a quarter of the net income on a gaap basis in that quarter.mber. if they have to actually change that and mark it down, what do you think that's going to do for their earnings in the quarter? >> mike, what do you think? >> yeah, i mean dan started hitting on a couple of the key points. i mean the hockey stick for ev sales in north america and europe. i think where we were over that first bit of that, you know, this was a name that was always trading on its promise. and so if you start to see any, any signs of slowing sales, that's going to be obviously going to put some pressure on the stock. and of course, there is this specter, at least in asia, of competition from china. byd is a formidable foe. they did outsell tesla at times. and, you know, it's a much more compelling product on a price basis over there. and they have an advantage because they were formerly a battery company. and that's one of the biggest input costs. so you put all of those things together. and it is a difficult environment for sure. >> coming up, truly tipping the scale

like now we're actually seeing gaap earnings. >> and for. >> me, that's really. >> much more. >> meaningful than. >> the level. >> of adjusting that this company tends to like to do. and i agree, i think that the forward momentum. >> is with this business. >> but that doesn't mean that it's completely infallible. >> its customer base is good, but that doesn't. >> mean that you can't see a spending slowdown. >> and the thing is. >> when you have valuation like this, execution has to. be perfect every quarter. you have to beat and raise. and if you. >> don't. >> you get punished pretty mercilessly. >> right. there's a. >> lot. >> more fast money to come. here's what's coming up next. >> booze stocks going flat as trump tariff headlines brew up a storm for the space. how investors are trading around those spirits ahead. plus drug costs coming into focus as tariffs threaten the pharma and biotech trade. what to expect out of the white house and the prognosis on the health care space. you're watching fast money live from the nasdaq market site in times square. market site in times square. we're

they're basically haven't had a gaap profit since they went public in 2017.could be an inflection point for this company in the not so distant future. >> all right. coming up, estee lauder and pepsi making some major moves in today's session. the details on the quarters that had investors canceling the contour and bubbling out of the soda stock. more fast money and two. >> welcome to reinvented with accenture. today i'm here with margherita della valle, ceo. >> of vodafone. >> you were employee 25 in vodafone italy. today you're the ceo of vodafone. what is your strategy and vision for the future? we are changing. >> our culture. >> to really focus. >> on our customers. >> we need to. >> acknowledge that change. >> is hard. >> but if people. understand it's. it's. >> for the right reason. your shipping manager left to "find themself." leaving you lost. you need to hire. i need indeed. indeed you do. sponsored jobs on indeed are two and a half times faster to first hire. visit indeed.com/hire i had the worst dream last night. you were in a car crash and the ki

look, if we deliver over 10% transaction transaction margin growth and 20% plus non-gaap eps growth,ut into the future, i think we'll be in a good place. >> okay. well, look, we are going to hold it, i like it, i like the story very much. alex quist, president and ceo of paypal holdings. >> coming up, cramer is turning on the gas with the ceo of doterra. don't miss an exclusive post earnings conversation next. a cnbc special report nvidia reports earnings and john ford interviews ceo jensen huang i strategy chip demand plus post interview analysis a cnbc interview analysis a cnbc at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. >> don't buy another stock before reading this book. >> because when you see the returns you could be making on options versus stocks, you'll realize that in today's market, buying and holding stocks alone. >> is not. >> an option. >> the simple, beginner friendly option strategies you'll learn in our new book could take your investing returns to a whole ne

it's a gaap among basically the senior water rights holders on the east side tributaries of the san joaquinriver. it originally included the oakdale irrigation district, the south san joaquin irrigation district on the stennis lost river the two the turlock and modesto irrigation district in san francisco. on the 12 new river and more said irrigation district on the river said river over time. it is really it was originally formed to protect defended and hence the respective water rights of the member agencies who are all pre 1914 water rights holders. the two of the members have dropped out oakdale irrigation district and are said irrigation district for their own reasons leaving south san joaquin and the 12 new river parties as the remaining members. and over the last couple of years the members have looked at redoing the bylaws to basically expand the the issues that they want to deal with and really try to move into a little bit more modern times in terms of including environmental protection and balancing beneficial uses of water and also made clear provision for adding new members. i

stock's trading i think this morning it's indicating a little bit below 30 times on a on a pe basis on a gaaps a high multiple obviously for a stock. but they just grew operating income 82% in the last year. and we think that can at least go up by 20 to 30% for the next few years. and so that's kind of earnings growth we call growing into this valuation could certainly be higher over time. >> so you say 250 where. 232. what do you think the downside is at this point? >> oh, i mean i think fairly limited. a lot of a lot of people obviously own this stock. so there is some crowding aspect of that. but i think, you know, this is such a it's a very large moving ship obviously. and it's not going to course correct, i would say on a dime or anything. so i don't, i don't worry about some like big shock to numbers upcoming. it's just a matter of whether they can continue to hit those ebit expectations, maintain that cloud growth. that's actually another piece i should mention is they grew 19% in the quarter. we think they're actually probably maybe going to decelerate a little bit here in the near te

i believe they're looking for non-gaap earnings of somewhere between $6.55 and $6.85. and i think part of the problem, the company is cfo talking david elkins to barron's, saying that they are looking for sales of their multiple myeloma treatment, which is revlimid that has some generic competitors in the united states since 2022. so they're looking for revenue of that drug to fall somewhere between 2 and 2.5 billion in 2025. that would be down from 5.8 billion last year. also talking about how the stronger dollar is weighing on the guidance for 2022. and that stock is off by about 3.5%. >> yes. >> and the bank of england cutting rates by a quarter point that was expected. and take a quick look at the pound to see the reaction this morning. or maybe not. we can move on. oh there it is. as you can see the euro the yen and the pound. and qualcomm shares. yeah yeah. if you want to look. go ahead. >> check it out. >> feel free. qualcomm shares are low this morning despite a better than expected quarterly results. company cautioned that its patent licensing business won't h

. >> we got gaap. >> profitability this year for the first time ever, we printed. $766 million. >> ofh flow positive for the first year ever. so it is a. >> frigging machine. >> what we have built together. >> and i think what. >> the future holds is. >> great because it's a huge market and. we're doing a great job. >> so then we got to figure out how. >> to get the traders. >> sort of on the on. >> the bus. >> but that's the. >> well, that's what i was going to ask. do you think that the analysts do you think that you missed, or do you think the analysts missed? well. >> i mean, look, i don't i. >> can't speak for the analysts. i can tell you this. >> we have never been in. >> a stronger position. right. as i say, we're executing. >> look, we. >> will pick you up. >> here's a fun fact. >> we pick you up. >> now a minute. faster on average than we did a year ago. by the way, that's actually about 30s. faster than. our bigger competitor, which is a big friggin deal. >> and we're just getting. >> started in terms of. >> upping service. >> which. >> is really our focus. >> and we did it