The CE 100 Index slipped 1.1%, as AI names were – to put it mildly – volatile in the wake of earnings reports.
MongoDB shares sank 32.5% and led the Enablers segment 2.6% lower in the holiday shortened trading week.
The shares plummeted after the company reported earnings that detailed first-quarter revenue growth of 22% year over year to $451 million. But that growth rate marked a significant slowdown from the roughly 57% top line increase that had been seen only a few quarters ago. Net losses expanded to more than $80 million from a bit more than $54 million last year.
“We had a slower than expected start to the year for both Atlas consumption growth and new workload wins, which will have a downstream impact for the remainder of fiscal 2025,” MongoDB’s president and CEO Dev Ittycheria said in the most recent earnings release.
Salesforce shares gave up 13.9% as the Work segment lost 4.6%. The company reported earnings this past week that saw revenues increase by 11% to $9.1 billion, while subscription revenues were up a bit more than that, at 12%, to $8.6 billion. Forward-looking guidance disappointed investors, as management said that the current fiscal year’s second quarter growth will come in at between 7-8% and full year subscription and and support revenue growth will come in at roughly 10%.
DraftKings lost 13.9% as the Have Fun segment slipped 1.4%. As widely reported, the Illinois Senate passed legislation this past week boosting taxes on sports betting, where the tax rates could be as high as 40% from a current 15% level.
Elsewhere, and turning attention to positive performers, while demonstrating the volatility in the AI space, C3.ai soared 23.1%.
As reported this past week, the enterprise-focused AI software firm posted strong growth in its subscription business, which accounted for 92% of the consolidated top line. Total revenues gained 20% year over year to $86.6 million, while subscription revenues surged 41%.
The federal defense and aerospace sector proved to be a significant growth driver for C3.ai, accounting for approximately 50% of its bookings in the fourth quarter, as we reported. Over the past year, the company closed 65 agreements with federal agencies and made inroads with ten new federal organizations in Q4.
Looking ahead, C3.ai expects revenue growth to accelerate to approximately 23% in fiscal year 2025.
Sezzle gained 15.8%, continuing to ride a wave of momentum in the wake of its announcement of an expanded relationship with Celerant Technology. Celerant now enables the users of its eCommerce platform to offer their customers buy now, pay later (BNPL) options when checking out in-store as well as online.
The company has implemented additional integration functionalities with Sezzle to allow these options at the point of sale, in-store, Celerant said earlier in the month. The two companies had already partnered to offer BNPL options online, having launched that collaboration in April 2023.
Peloton shares gathered 15.6%, retracing at least some of the company’s recent stock slides. The company announced that it completed a “holistic refinancing that reduced overall debt, extended debt maturities and achieved more flexible loan terms.” The refinancing included a new $1 billion five-year term loan facility.
We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated teller machines (ATMs) at the U.S. National Science Foundation’s McMurdo Station in Antarctica. This achievement marks a significant milestone in banking accessibility, to be sure. We would like to meet the crew that installed them. We’d also like to know why they needed two. Was there a line at the first one? More to come on that.
According to Diebold, McMurdo Station is Antarctica’s largest research and logistics hub, supporting a fluctuating population that ranges from fewer than 200 residents during the winter months to up to 1,100 individuals during the summer (October through February). The presence of these ATMs is crucial, it says, as the next closest banking facilities are thousands of miles away, making them the only ATMs on the entire continent. How’s that for a value proposition?
The DN Series ATMs are designed for always-on availability. And why do they need two? One ATM is actively in use, while the second serves as a backup for spare parts, ensuring uninterrupted service in this isolated area. These machines are connected to the DN AllConnect Data Engine, which leverages Internet of Things (IoT) connectivity, machine learning, and artificial intelligence (AI) to monitor their performance. A dedicated team continuously aggregates and analyzes technical data to identify potential issues, enabling remote diagnostics and repairs. The ATM can be maintained by trained staff at NSF McMurdo Station, or the Diebold Nixdorf service team can remotely guide them through the repair process.
Anyway, it got us thinking. Are there other surprising ATMs in extreme locations? Well, of course, there are. Here’s a sampling of what we found.
At an altitude of about 5,364 meters (17,600 feet), the Mount Everest Base Camp in Nepal is another unexpected place to find an ATM. Although it’s not a permanent fixture and is often set up seasonally, it caters to climbers and trekkers who need cash for local transactions. This temporary ATM service underscores the adaptability of banking services in extreme environments.
In some parts of the Amazon rainforest, particularly in Brazil and Peru, ATMs can be found in small villages and towns. These machines are vital for local communities, providing access to cash in areas where digital payment options might be limited. The presence of ATMs here demonstrates how banking services can reach even the most remote communities.
Located in the Tibet Autonomous Region, Nagqu is home to one of the highest ATMs in the world. This region is very remote, with limited infrastructure, making the presence of an ATM a notable example of banking accessibility in extreme environments.
In the Thousand Islands (Kepulauan Seribu) off the coast of Jakarta, Indonesia, there’s a floating ATM. This unique ATM serves the local community and tourists on the islands, demonstrating how banking services can adapt to isolated marine environments.
Longyearbyen, the administrative center of the Svalbard archipelago in Norway, boasts the most northerly ATM. This location is one of the most remote inhabited places on Earth, with limited access to mainland Norway, making the ATM a vital service for residents and visitors.
On a more serious note, the installation of ATMs in places like Antarctica and other remote locations highlights the evolving nature of banking technology. With advancements in IoT, AI and remote diagnostics, it’s becoming increasingly feasible to provide banking services in areas previously considered inaccessible. As we look to the future, it will be interesting to see where else ATMs might appear. Whether it’s on a remote island, at the top of a mountain or even in space, the ability to access cash is becoming more universal than ever. And who knows? Maybe one day, we’ll see an ATM on Mars, serving the first interplanetary travelers.
For now, the presence of ATMs in unexpected places reminds us that banking is not just about transactions; it’s about connecting people and communities across the globe, no matter how remote they might be.
