AAPL
Apple
$5.00Tn
344.17
-1.53%
+27.40%
Apple's primary revenue driver is the iPhone series of smartphones, alongside other wearables like the Apple Watch and AirPods. These products are designed, manufactured, and marketed as portable computing devices for personal use.
NVDA
Nvidia
$4.38Tn
181.60
-9.26%
-6.97%
NVIDIA designs integrated circuits including GPUs (Hopper, Blackwell), CPUs (Grace), and DPUs. It operates a fabless model, selling these designed chips to cloud providers, OEMs, and enterprises.
MSFT
Microsoft
$3.98Tn
535.93
-3.58%
+5.67%
Microsoft operates Azure, a large-scale public cloud platform providing infrastructure-as-a-service and platform-as-a-service to external customers. This is a core component of its Intelligent Cloud segment and a primary driver of its current business strategy.
GOOGL
Alphabet
$3.46Tn
282.57
-2.20%
-0.61%
Alphabet generates the majority of its revenue from advertising on Google Search, YouTube, and the Google Network. It provides the technology infrastructure for performance and brand ads served to users worldwide.
AMZN
2nd
Amazon Com
$2.81Tn
260.21
-2.19%
+4.00%
Amazon Web Services (AWS) provides on-demand cloud infrastructure, including compute, storage, and database services, to startups, enterprises, and government agencies.
TSM
Taiwan Semiconductor Manufacturing
$1.83Tn
352.03
-10.92%
+19.88%
The company is a dedicated semiconductor foundry that earns revenue primarily from semiconductor wafer fabrication services. It operates physical manufacturing facilities in Taiwan, the US, China, Japan, and Germany to produce integrated circuits for customers.
META
Meta Platforms
$1.55Tn
605.08
-3.96%
-4.85%
Meta operates the 'Family of Apps' including Facebook, Instagram, Messenger, Threads, and WhatsApp, which are platforms for social interaction and user-generated content. The company's core value is derived from its large user base and network effects across these social networking services.
AVGO
Broadcom
$1.39Tn
291.53
-10.43%
-18.79%
Broadcom designs a vast array of integrated circuits, including Ethernet switching and routing silicon, RF front-end modules for smartphones, and custom ASICs/XPUs for AI and high-performance computing. The company operates a fabless-style design model for these semiconductor solutions, selling them to OEMs and hyperscalers.
BRRND
Bryn
$945.00Bn
2,100.00
+0.00%
—
The company developed and sold medical software with tools and analytics specifically for healthcare providers to improve clinical performance outcomes and evidence-based processes. This product is purpose-built for healthcare delivery and clinical workflows.
MU
Micron Technology
$744.99Bn
658.70
-17.17%
+177.35%
Micron owns and operates its own wafer fabrication facilities across Asia, the US, and Europe to manufacture DRAM, NAND, and NOR products. The profile explicitly mentions its operations span wafer fabrication and its competitive advantage includes its global manufacturing footprint.
AMD
Advanced Micro Devices
$663.22Bn
404.40
-17.26%
+57.77%
AMD designs a broad portfolio of integrated circuits, including EPYC server processors, Ryzen CPUs, Radeon GPUs, and Instinct AI accelerators. The company operates a fabless model, selling these designed chips and licensing its IP portfolio to customers.
MA
2nd
Mastercard
$567.35Bn
655.44
-2.53%
+18.46%
The company provides 'processing and gateway' offerings that support e-commerce and secure online payments, which are core payment processing activities.
ASML
Asml Holding
$522.88Bn
1,356.65
-9.33%
+29.98%
ASML designs and manufactures capital equipment used to fabricate semiconductors, specifically its dominant line of EUV and DUV lithography systems. The company's primary revenue comes from the sale of these systems, as well as system-related options and upgrades.
CSCO
Cisco Systems
$377.71Bn
95.72
-7.62%
+32.76%
Cisco's core business is providing networking hardware and software, specifically switching, routing, and wireless technologies such as the Catalyst 9000 switches, Nexus 9000 series, and Cisco 8000 series routers.
PLTR
Palantir Technologies
$372.99Bn
154.82
-9.83%
-17.61%
Palantir's core business is providing data integration and analytics platforms, such as Foundry and Gotham, which allow users to perform high-scale analytics and derive actionable insights from diverse data environments. The company explicitly competes in the data integration and analytics market to help organizations solve complex operational challenges.
UNH
2nd
Unitedhealth
$354.25Bn
395.37
-3.40%
+20.64%
Optum Insight provides data analytics, technology, and managed services to health systems and life sciences companies to manage revenue cycles and meet regulatory requirements.
ORCL
Oracle
$347.94Bn
115.06
-7.04%
-54.03%
Oracle's core business includes the development and licensing of broad multi-module enterprise resource planning suites such as Fusion Cloud ERP and NetSuite. These products integrate finance, operations, and supply chain management for large enterprises and government agencies.
SAP
Sap Se
$299.08Bn
243.45
+1.42%
-6.75%
SAP SE develops and markets a suite of integrated applications covering finance, procurement, human resources, and supply chain, which are the core components of Enterprise Resource Planning (ERP) software. The profile explicitly describes its product portfolio as integrated applications for core business functions serving large enterprises and public sector organizations.
INTC
Intel
$277.45Bn
52.25
-10.33%
+36.14%
Intel is an integrated design manufacturer (IDM) that owns and operates its own wafer fabrication plants to produce CPUs, GPUs, and FPGAs. The profile explicitly mentions its 'Intel Foundry' segment, which provides wafer fabrication and process technologies like Intel 18A and Intel 14A to both internal and external customers.
NFLX
Netflix
$269.21Bn
65.56
-1.25%
-40.32%
Netflix operates a streaming service that delivers TV series, films, and live programming to subscribers worldwide. Its primary revenue is generated from monthly membership fees paid for access to this streaming platform.
PANW
Palo Alto Networks
$256.46Bn
314.67
-9.59%
+47.61%
Palo Alto Networks sells a comprehensive suite of cybersecurity software and services, including next-generation firewalls, Secure Access Service Edge (SASE), and the Cortex XDR/XSIAM platforms for threat detection and remediation. Its revenue is primarily derived from these security platforms and subscriptions designed to protect networks, clouds, and endpoints.
TXN
Texas Instruments
$254.17Bn
278.15
-10.70%
+70.05%
Texas Instruments designs and manufactures its own semiconductors, specifically in the Analog and Embedded Processing segments. The profile explicitly highlights its 'strong foundation in manufacturing and technology' as a sustainable competitive advantage, indicating it operates its own fabrication plants.
AMAT
Applied Materials
$253.36Bn
319.25
-13.58%
+32.53%
Applied Materials designs, develops, and manufactures wafer fabrication tools used for patterning, transistor and interconnect formation, and metrology. These are capital equipment tools sold to semiconductor foundries and memory producers.
BABA
Alibaba Group Holding
$251.07Bn
108.10
+2.58%
-34.41%
Alibaba operates massive online marketplaces like Taobao and Tmall that connect buyers and sellers, generating revenue from merchant services, transaction fees, and advertising.
IBM
International Business Machines
$233.58Bn
247.14
-2.83%
-19.44%
IBM's primary focus is providing hybrid cloud platforms and solutions, selling software subscriptions and cloud services to help clients modernize workloads. The profile explicitly identifies hybrid cloud and AI solutions as the core of its business transformation offerings.
LRCX
Lam Research
$231.34Bn
185.20
-16.36%
+12.21%
Lam Research designs and manufactures capital equipment used to fabricate semiconductors, specifically systems for deposition, etch, and cleaning processes. Its revenue is derived from the sale of these tools (e.g., SABRE, Flex, and Coronus families) and related aftermarket services to semiconductor manufacturers.
CRWD
CrowdStrike Holdings
$222.40Bn
217.20
-9.88%
+62.65%
CrowdStrike provides a cloud-native cybersecurity platform, the Falcon platform, which focuses on endpoint security, cloud workload protection, and threat intelligence to prevent breaches. Its revenue is primarily generated from subscriptions to these security modules.
AXP
2nd
American Express
$217.91Bn
324.75
-2.36%
-11.22%
Through its Global Merchant and Network Services segment, the company provides merchant acquiring and transaction processing services, earning discount revenue from processing payments at the point of sale.
DELL
Dell Technologies
$202.66Bn
316.66
-14.74%
+107.77%
Dell's Infrastructure Solutions Group (ISG) focuses on AI-optimized servers, traditional servers, networking, and storage solutions for data centers and cloud environments. These products are explicitly described as mission-critical infrastructure for large-scale data center and cloud deployment.
ANET
Arista Networks
$201.17Bn
159.23
-10.79%
+13.40%
Arista's primary revenue is generated from the sale of high-performance switches and routers specifically designed for AI, cloud, and data center networking solutions. The 'Core' segment focuses on high-speed Ethernet fabrics and switches used to support large-scale workloads in data centers.
SHOP
Shopify
$184.99Bn
143.75
-6.06%
-11.77%
Shopify provides a cloud-based commerce platform that enables merchants to create and manage online stores, offering website building tools and storefront infrastructure. Its 'Subscription Solutions' revenue is derived from platform subscriptions, apps, and themes sold to these merchants.
CRM
Salesforce
$183.01Bn
222.37
-2.13%
-12.00%
Salesforce is described as a global leader in customer relationship management (CRM) technology, with its primary revenue coming from subscription fees for the Sales Cloud and Service Cloud. These products specifically manage sales relationships, customer service, and the revenue pipeline.
BLK
2nd
BlackRock
$180.90Bn
1,170.09
-4.45%
+8.99%
BlackRock sells risk analytics and investment data through its technology platforms, including Aladdin, eFront, and Preqin, which provide data and insights to institutional investors and wealth managers via subscriptions.
ARM
Arm Holdings
$177.40Bn
166.72
-13.08%
+4.08%
Arm designs microprocessors, GPUs, and systems IP which it licenses to semiconductor companies and OEMs. Its revenue model is based on upfront license fees and ongoing royalties per chip shipped, fitting the fabless/IP licensing model described in T-01.
ACN
2nd
Accenture
$177.38Bn
265.25
+0.33%
+7.03%
The Technology segment provides systems integration, application management, software engineering services, and infrastructure services. These are classic IT services where the company sells technology labor and delivery capability to build a client's digital core.
APH
2nd
Amphenol
$176.82Bn
71.61
-9.43%
+3.14%
The company designs and manufactures discrete electronic components and sensor modules, including sensors for force, gas, moisture, level, position, pressure, temperature, and vibration, which are sold as building blocks to OEMs.
ADI
Analog Devices
$174.93Bn
361.01
-11.13%
+52.97%
Analog Devices designs and manufactures its own integrated circuits, including data converters, power management ICs, and RF components. The profile explicitly states the company 'designs, manufactures, tests and markets' these semiconductor solutions, indicating it operates its own fabrication capabilities.
SONY
Sony
$169.37Bn
27.54
+6.21%
-1.92%
Sony's Game & Network Services segment is a core business line involving the production and sale of PlayStation gaming consoles, bundled software, and first-party and third-party titles.
KLAC
Kla
$169.12Bn
129.80
-13.33%
+5.78%
KLA Corporation manufactures capital equipment used in semiconductor fabrication, specifically inspection, metrology, vacuum deposition, and etching tools. Its primary revenue is generated from the sale of these process control and process enabling tools to semiconductor manufacturers like TSMC and Samsung.
QCOM
Qualcomm
$168.04Bn
156.75
-9.49%
-12.78%
Qualcomm designs and sells integrated circuit products, specifically the Snapdragon and Qualcomm Dragonwing families, for use in mobile devices, automotive systems, and IoT equipment. It operates a fabless model, focusing on the design of high-performance low-power computing and wireless connectivity chips.
BUD
2nd
Anheuser-Busch InBev
$153.10Bn
85.19
+1.89%
+35.52%
The company operates the BEES platform, a business-to-business digital commerce service and platform that supports retailers and wholesalers in managing their operations.
UBER
Uber Technologies
$140.28Bn
68.79
-1.57%
-25.83%
Uber operates a technology platform that matches consumers with drivers for ridesharing and transportation services in its Mobility segment. It also operates a marketplace for food and grocery delivery via Uber Eats and Uber Direct in its Delivery segment.
SPOT
Spotify Technology
$126.47Bn
614.44
-2.10%
-0.90%
Spotify operates a global audio streaming subscription service providing music, podcasts, and audiobooks to users. It generates revenue through monthly Premium subscription fees and advertising sales for its Ad Supported service.
BKNG
Booking Holdings
$125.48Bn
168.72
-1.32%
-14.12%
Booking Holdings operates a series of digital marketplaces (Booking.com, Priceline, Agoda, KAYAK) that connect consumers with travel service providers, earning commissions and listing fees. Its primary revenue model is based on facilitating commerce between buyers (travelers) and sellers (hotels, airlines, car rental companies) online.
MCK
2nd
Mckesson
$123.78Bn
1,072.05
+0.35%
+26.98%
The company provides technology-driven healthcare solutions, including electronic prior authorization, prescription price transparency, and practice management platforms like Ontada for oncology practices.
ADP
Automatic Data Processing
$121.50Bn
307.14
+1.19%
+18.33%
ADP provides a comprehensive suite of human capital management (HCM) solutions, including payroll processing, benefits administration, talent management, and workforce management. These products manage the full employee lifecycle from hire to retire for over 1.1 million clients.
PDD
PDD Holdings
$119.49Bn
83.95
+2.19%
-38.43%
PDD Holdings operates the Pinduoduo and Temu platforms, which are digital marketplaces that connect third-party merchants, manufacturers, and farmers with consumers. The company earns revenue through transaction fees from these completed sales, fitting the model of enabling commerce between buyers and sellers online.
APP
AppLovin
$117.98Bn
356.10
+31.04%
-42.29%
AppLovin builds the technology infrastructure for buying and selling digital advertising, specifically through its Axon Ads Manager and automated auctions. Its revenue model is based on campaign performance and return on advertising spend for advertisers seeking to reach global audiences.
MRVL
Marvell Technology
$117.11Bn
133.55
-16.43%
+43.76%
Marvell is a fabless semiconductor supplier that designs and sells integrated circuit products, including custom ASICs, ethernet solutions, and storage controllers. The profile explicitly states it is a 'fabless entity' that partners with external foundries for manufacturing, which aligns perfectly with the T-01 classification.
SNDK
Sandisk
$116.13Bn
806.43
-22.26%
+272.48%
Sandisk designs and manufactures high-performance enterprise solid state drives (SSDs) and software solutions optimized for servers and cloud environments. These products are specifically deployed in server rooms and datacenters to support AI workloads and online transactions.
STX
Seagate Technology Holdings
$107.17Bn
466.53
-16.25%
+69.17%
Seagate designs and manufactures server and storage hardware, specifically hard disk drives (HDDs), solid state drives (SSDs), and storage subsystems for hyperscale data centers and cloud service providers.
NOW
ServiceNow
$106.24Bn
102.35
-6.00%
-41.82%
ServiceNow's core value proposition is the digitalization and streamlining of workflows through a cloud-based platform that integrates AI and workflow automation. The company specifically offers low-code development tools via its 'App Engine' and 'Creator' segment, allowing non-technical users to build custom applications and automate business processes.
ABNB
Airbnb
$100.21Bn
170.13
-3.54%
+38.88%
Airbnb operates a global digital marketplace that connects guests (buyers) with hosts (sellers) of short-term rentals and experiences, earning revenue through service fees on completed bookings. The core business model is enabling commerce between third-party buyers and sellers online rather than owning the inventory itself.
WDC
Western Digital
$100.18Bn
267.63
-17.35%
+67.16%
Western Digital designs and manufactures high-capacity enterprise HDDs specifically for cloud data centers, hyperscale cloud service providers, and neoclouds. This segment is described as the company's largest and fastest growing, focusing on data center buildouts and tiered storage models.
EQIX
Equinix
$98.73Bn
997.35
-5.38%
+21.31%
Equinix operates a global network of 280 data centers, providing colocation services where customers place their own IT equipment in private cages and secure cabinets. Its revenue is primarily derived from recurring charges for data center space and power, which matches the description of a data center operator providing physical infrastructure for third-party use.
ICE
2nd
Intercontinental Exchange
$97.09Bn
174.00
-0.54%
+19.01%
The Mortgage Technology segment provides a digital workflow platform for the U.S. residential mortgage life cycle, including origination technology, closing solutions, and automated valuation models.
ADBE
Adobe
$96.36Bn
246.44
-0.82%
-26.55%
Adobe's core business is centered on creative content production tools, specifically its Creative Cloud suite including flagship applications like Photoshop, Illustrator, Premiere Pro, and After Effects. These products are used by creative professionals and consumers to create visual, audio, and video content.
GD
2nd
General Dynamics
$96.29Bn
356.35
-2.37%
+3.92%
Through GDIT, the company provides IT outsourcing, cloud computing, application development, and systems integration services to federal agencies and state customers.
INTU
Intuit
$95.23Bn
354.84
-0.50%
-45.85%
Intuit's core business revolves around financial record-keeping and tax compliance, specifically through QuickBooks for business financial management and TurboTax for individual and professional tax preparation. These products manage financial records, tax compliance, and reporting for millions of consumers and small businesses.
SNOW
Snowflake
$94.80Bn
268.96
-7.38%
+1.57%
Snowflake provides a cloud-based data platform that allows organizations to consolidate data into a single source of truth, featuring a storage layer for ingesting massive amounts of varied data and a compute layer for concurrent queries. Its core revenue is generated from a consumption-based model for storage, compute, and cloud services usage, which aligns with the foundational data layer described in T-36.
EMR
2nd
Emerson Electric
$90.65Bn
162.51
-4.57%
+22.70%
Through the acquisition of National Instruments, the company provides software-connected automated test and measurement systems, modular instrumentation, and data acquisition solutions.
FTNT
Fortinet
$90.00Bn
122.51
-5.32%
+42.47%
Fortinet is a cybersecurity company that sells a broad portfolio of security technology, including firewalls (FortiGate), threat detection tools (FortiSIEM, FortiSOAR), and endpoint security (FortiEndpoint). Its revenue is driven by the sale of security appliances and subscription-based security services like FortiGuard.
MCO
2nd
Moodys
$88.74Bn
514.71
-2.59%
+5.81%
The Moody's Analytics segment provides cloud-based subscription businesses for KYC workflows and AI-enabled tools that help clients comply with regulations and support regulatory reporting.
MSI
2nd
Motorola Solutions
$85.48Bn
516.49
+3.90%
+30.93%
The company generates significant revenue from cybersecurity offerings and services provided as part of its Software and Services segment to protect mission-critical networks.
CDNS
Cadence Design Systems
$85.45Bn
311.43
-5.49%
-4.94%
Cadence is a leader in electronic design automation (EDA), providing software and licensable semiconductor IP such as the Virtuoso custom-IC design suite and Tensilica DSPs. Its revenue model is based on software licenses, IP license fees, and maintenance contracts for tools used to design and verify integrated circuits.
SNPS
Synopsys
$84.37Bn
440.31
-4.89%
+7.63%
Synopsys is a global leader in electronic design automation (EDA) software and semiconductor intellectual property (IP), providing tools for IC design, verification, and manufacturing. Its revenue is primarily generated through the licensing of these EDA tools and semiconductor IP blocks.
NTES
NetEase
$80.80Bn
126.56
+4.37%
-9.02%
NetEase is primarily an online game provider that develops and operates over 100 titles across multiple genres (MMORPG, casual, shooting) and platforms (PC, mobile, console). It generates its principal revenue from the sales of in-house developed and licensed games and related value-added services.
NET
Cloudflare
$79.73Bn
245.37
-8.04%
+7.38%
Cloudflare operates a globally distributed network of edge nodes providing content delivery (CDN), DDoS mitigation, and web application firewalls delivered as edge services. Its Application Services segment specifically focuses on protecting and accelerating internet applications via load balancing and DNS at the network edge.
JCI
2nd
Johnson Controls International
$79.58Bn
131.37
-6.50%
+8.70%
Through its OpenBlue digital software platform, the company provides data-driven smart building services and solutions specifically for the construction and built environment vertical.
DASH
DoorDash
$78.44Bn
179.92
-9.40%
-24.40%
DoorDash operates multisided platforms (DoorDash, Wolt, and Deliveroo) that match consumers with merchants and independent delivery personnel for food, grocery, and local commerce. It generates revenue through delivery and service fees from consumers and transaction fees from merchants.
MELI
Mercadolibre
$77.58Bn
1,530.28
-12.05%
-33.52%
MercadoLibre operates a leading e-commerce marketplace where third-party sellers account for most of the gross merchandise volume, earning revenue through marketplace fees and final value fees.
RELX
Relx
$75.40Bn
41.45
+0.90%
-7.02%
RELX's core business is providing information-based analytics and decision tools across its Risk, Scientific, and Legal segments. It sells data sets, analytics tools, and actionable insights to professional customers, which aligns with the description of turning data into dashboards and insights for business decision-makers.
SLB
2nd
Slb
$73.27Bn
49.64
-3.72%
+35.81%
SLB sells standalone AI and digital platforms such as Delfi and Lumi as SaaS subscriptions, providing autonomous field operations and digital exploration capabilities to external customers.
TGT
2nd
Target
$71.76Bn
157.97
-3.15%
+71.82%
The company generates revenue from fees associated with its third-party digital marketplace, Target Plus, which connects external sellers with consumers.
HOOD
2nd
Robinhood Markets
$70.63Bn
78.39
-10.32%
-44.98%
Robinhood offers banking services, savings, and wealth management tools delivered through a software-native, technology-first model aimed at democratizing financial access.
VRT
2nd
Vertiv Holdings
$68.02Bn
176.66
-14.05%
-7.37%
The company provides racks and integrated modular systems specifically designed for deployment in server rooms and hyperscale cloud facilities.
ALL
2nd
Allstate
$66.46Bn
266.90
-0.80%
+37.05%
The company operates Arity, which provides mobility intelligence services using automotive telematics information to provide insights to financial institutions and employers.
ASX
ASE Technology Holding
$65.90Bn
29.64
-20.92%
+87.24%
The company is a leading provider of semiconductor packaging and testing services, which are the core of its ASE and SPIL Group segments. It specifically provides flip-chip, substrate packaging, wafer probing, and final testing to transform bare semiconductors into finished products.
DLR
2nd
Digital Realty Trust
$65.47Bn
174.65
-5.52%
+4.88%
The company provides colocation and interconnection solutions, managing the physical compute infrastructure and power for third-party use. It offers managed infrastructure and Critical Facilities Management services to support customer workloads.
DDOG
Datadog
$63.03Bn
174.60
-7.48%
+12.66%
Datadog provides a SaaS platform for infrastructure monitoring, application performance monitoring (APM), and log management. These products are specifically designed for IT operations teams to observe and maintain the health of their technology stacks, as evidenced by its competition with IT operations management vendors like SolarWinds and Dynatrace.
NXPI
NXP Semiconductors
$61.61Bn
244.43
-7.77%
+16.15%
NXP operates a hybrid manufacturing model that includes owning its own fabrication facilities in addition to using third-party foundries. The company leverages its own manufacturing expertise to produce microcontrollers, application processors, and radio frequency devices.
NDAQ
2nd
Nasdaq
$59.66Bn
106.83
-2.62%
+24.86%
Nasdaq provides regulatory technology and financial crime platforms, specifically the Verafin platform for fraud detection and anti-money laundering, and the AxiomSL suite for regulatory reporting.
HPE
Hewlett Packard Enterprise
$58.54Bn
44.08
-11.96%
+85.91%
HPE's Server segment sells general-purpose and workload-optimized servers, including the ProLiant and Cray lines, as well as storage arrays like the Alletra portfolio, which are deployed in datacenters.
NU
2nd
Nu Holdings
$56.74Bn
11.74
-2.00%
-27.40%
Nu Holdings operates 'Nu Shopping,' an integrated e-commerce marketplace within its app that connects customers to third-party retailers like Casas Bahia and earns fees from gross merchandise volume.
ADSK
Autodesk
$56.25Bn
269.16
-0.34%
-10.57%
Autodesk provides a wide array of creative software for 3D design, modeling, animation, and rendering, including flagship products like Maya and 3ds Max. These tools are used by film artists and game developers to create visual and 3D content.
MPWR
Monolithic Power Systems
$55.20Bn
1,131.43
-10.28%
+13.13%
Monolithic Power Systems is explicitly described as a fabless company that designs high-performance semiconductor-based power electronics, including DC to DC converters and power management ICs. It relies on third-party foundries for wafer fabrication, assembly, and testing, which fits the fabless model defined in T-01.
GRMN
Garmin
$55.19Bn
286.33
-0.98%
+39.35%
Garmin designs and manufactures portable computing devices for personal use, specifically GPS-enabled watches, heart rate monitors, and handheld communicators sold through its Fitness and Outdoor segments.
EBAY
Ebay
$54.27Bn
123.35
-1.44%
+52.27%
eBay operates a global online marketplace that connects millions of buyers and sellers to trade a wide variety of goods, including collectibles and luxury goods. Its revenue model is based on commissions, such as final value fees and listing fees, which is the defining characteristic of a digital marketplace.
AZO
2nd
Autozone
$53.55Bn
3,311.12
-0.48%
-9.58%
The company develops and sells ALLDATA, a specialized software suite for automotive diagnostic, repair, collision, and shop management specifically designed for professional technicians and repair shops.
TRI
Thomson Reuters
$52.55Bn
118.11
+0.75%
-18.12%
The company provides AI-driven compliance workflow software, tax compliance platforms, and risk management tools through its Corporates and Tax Audit & Accounting segments. These products, such as ONESOURCE+, are specifically designed to help businesses and professionals meet legal, tax, and governance obligations.
NTRA
2nd
Natera
$52.51Bn
363.76
-6.97%
+81.95%
The company sells the Constellation cloud software platform, which is a healthcare-specific IT tool used to support the delivery and management of its diagnostic data.
MSTR
Strategy
$52.02Bn
129.30
-9.29%
-49.29%
The company develops and licenses Strategy One™, a cloud-native AI-powered business intelligence platform, and Strategy Mosaic™, a universal data layer. These products are sold to technology and line-of-business executives at large global enterprises to transform complex data into insights for decision-making.
INFY
Infosys
$51.95Bn
12.81
+4.74%
-21.99%
Infosys is a global IT services firm that sells technology labor and expertise, specifically providing consulting, technology implementation, application management, and infrastructure management. Its revenue is derived from delivering these services to enterprises across various sectors, including Financial Services, Retail, and Manufacturing.
XYZ
Block
$50.82Bn
84.06
-4.04%
+14.13%
Block's core revenue is driven by payment processing fees from its Square segment, which provides sellers with hardware and software to accept card and bank payments. The company explicitly competes with payment processors like PayPal and Stripe.
VEEV
Veeva Systems
$50.08Bn
309.28
-0.48%
+4.75%
Veeva provides specialized industry cloud solutions purpose-built for the life sciences sector, including the Veeva Development Cloud for clinical and safety functions and the Veeva Quality Cloud for laboratory quality control. These products are designed specifically for pharmaceutical, biotechnology, and medical device companies to maintain compliance with global regulatory mandates.
PYPL
PayPal Holdings
$49.35Bn
58.96
-2.06%
-13.37%
PayPal operates a global payments platform providing payment processing, branded checkout solutions, and gateway services for merchants. Its primary revenue is derived from fees for completing payment transactions and other payment-related services based on processed volume.
ROP
Roper Technologies
$48.68Bn
491.74
-0.10%
+10.30%
Roper's largest segment is Application Software (56.7% of revenue), which includes broad enterprise resource planning and operational suites like Deltek for government contractors and PowerPlan for asset-intensive industries. These products provide a single system of record for managing complex business operations across various niche markets.
WDAY
Workday
$48.28Bn
200.17
-0.83%
-13.76%
Workday provides a broad multi-module platform that integrates financial management, spend management, and planning on a single architecture. This matches the description of ERP software as a system of record for large enterprises managing complex core operations.
TEAM
Atlassian
$47.69Bn
183.29
-3.47%
+13.52%
Atlassian provides a portfolio of team collaboration software and apps designed to unlock productivity at scale for software, IT, and business teams. Its core products are horizontal tools used for everyday work, project tracking, and knowledge management.
SE
Sea
$46.28Bn
75.64
-5.72%
-52.05%
Sea Limited operates Shopee, a massive e-commerce marketplace that connects buyers and sellers and earns revenue through transaction-based commissions, seller advertising fees, and listing fees.
LITE
Lumentum Holdings
$46.18Bn
509.70
-18.68%
+118.99%
Lumentum sells optical and photonic chips, components, modules, and subsystems used as building blocks for cloud data centers and network equipment. These are discrete electronic components sold to OEMs like network equipment manufacturers and AI infrastructure providers.
HEI
2nd
Heico
$45.72Bn
327.27
-3.04%
+2.80%
The Electronic Technologies Group manufactures a wide array of discrete electronic components, such as high-reliability passive electronic components, harsh environment connectors, and ceramic-to-metal feedthroughs sold to OEMs and industrial customers.
KEYS
Keysight Technologies
$44.36Bn
260.56
-8.84%
+40.20%
Keysight designs and manufactures electronic test and measurement equipment, including oscilloscopes, signal analyzers, and network analyzers. These products are sold to engineers in communications, aerospace, defense, and semiconductor industries to validate and optimize electronic systems.
IQV
2nd
Iqvia Holdings
$43.65Bn
264.86
+0.43%
+26.05%
The company's 'Technology & Analytics Solutions' segment provides mission-critical information technology solutions and real-world insights specifically for life science clients, utilizing healthcare-grade AI and proprietary analytics platforms.
LYV
2nd
Live Nation Entertainment
$42.66Bn
180.99
-1.21%
+34.28%
The company operates the Ticketmaster platform, a digital marketplace that connects buyers and sellers of tickets for its own events and third-party clients, earning revenue from service fees on primary and secondary ticketing.
PAYX
Paychex
$42.54Bn
119.50
+0.67%
+2.58%
Paychex provides a full suite of human capital management (HCM) technology and software, including payroll processing, HR administration, and benefits management. Its revenue is driven by a SaaS delivery model for these HR-specific tools used to manage the employee life cycle from hire to retire.
ROK
2nd
Rockwell Automation
$42.37Bn
381.52
-14.15%
+5.22%
The company provides integrated robotic systems and automation intelligence platforms, specifically mentioned through its 'Intelligent Devices' and 'Software & Control' segments that enable digital transformation of physical machines.
KR
2nd
Kroger
$41.00Bn
69.43
+0.67%
+9.94%
Kroger operates a retail media unit that sells advertising solutions and data analytics services to external parties based on its loyalty program data.
TTWO
Take Two Interactive Software
$39.90Bn
213.36
+2.13%
-16.25%
Take Two Interactive is a developer and publisher of interactive entertainment, creating and distributing games for console, PC, and mobile platforms. Its revenue is primarily generated from the sale of software titles and in-game virtual items through labels like Rockstar Games, 2K, and Zynga.
LYB
2nd
LyondellBasell Industries
$39.81Bn
61.62
-2.13%
+40.14%
The company's Technology segment earns revenue by licensing its proprietary polyolefin catalyst technology and process know-how to other producers worldwide.
CHT
2nd
Chunghwa Telecom
$37.90Bn
48.85
-0.33%
+15.70%
The company is the largest IDC (Internet Data Center) services provider in Taiwan with a market share exceeding seventy percent, selling data center services to enterprise and international customers.
GEHC
2nd
GE HealthCare Technologies
$37.87Bn
83.75
-2.40%
+10.77%
The company sells AI-enabled cloud and software solutions, including clinical decision support tools and ECG management digital solutions, which are purpose-built for healthcare clinical workflows.
COIN
Coinbase Global
$36.22Bn
136.82
-9.69%
-57.15%
Coinbase provides the underlying infrastructure for the digital asset ecosystem, including the Base blockchain where it earns sequencer fees and the Coinbase Developer Platform for third-party onchain integration. These activities involve building the rails and tools for the digital asset economy, which is the core of its Developer segment.
STM
STMicroelectronics
$35.49Bn
39.93
-12.40%
+66.38%
STMicroelectronics is explicitly described as an integrated device manufacturer (IDM) that owns and operates its own manufacturing facilities to produce its semiconductor products. This model gives them full control over the semiconductor supply chain, including wafer fabrication, which aligns with the T-02 classification.
MCHP
Microchip Technology
$35.29Bn
64.85
-13.92%
+6.66%
Microchip Technology is an integrated device manufacturer that develops and manufactures its own silicon, including mixed-signal microcontrollers, microprocessors, and analog products. The company explicitly provides manufacturing services such as wafer foundry and assembly and test subcontracting, indicating it owns and operates fabrication infrastructure.
ERIC
Ericsson Lm Telephone
$35.20Bn
10.44
-5.61%
+7.08%
Ericsson designs and sells networking hardware including radio access, core, and transport products (antennas, base stations, controllers) used to build 2G, 3G, 4G, and 5G telecommunications networks. This aligns with the description of providing hardware and software that moves data packets across networks.
RBLX
Roblox
$34.10Bn
47.65
-3.37%
-53.39%
Roblox operates an immersive gaming and creation platform where users explore and share millions of unique experiences. The company generates the majority of its revenue through the sale of Robux, a virtual currency used to access premium features and virtual items within these games.
RMD
2nd
Resmed
$33.64Bn
239.16
-0.55%
-2.47%
The company provides a Residential Care Software segment that sells electronic health records, revenue cycle management, and workforce management tools specifically for residential care providers, embedding healthcare-specific workflows and reimbursement compliance.
UMC
United Microelectronics
$33.61Bn
13.35
-16.98%
+72.04%
United Microelectronics Corporation is an independent semiconductor foundry that operates physical wafer fabrication facilities to manufacture integrated circuits. Its primary revenue is generated through the sale of wafers produced at its manufacturing facilities for fabless design companies and integrated device manufacturers.
COHR
Coherent
$33.41Bn
169.65
-13.08%
+26.01%
Coherent manufactures and sells optical and optoelectronic devices, modules, and systems, including transceivers and semiconductor lasers, which serve as building blocks for other device makers. These products are sold as components to hyperscale datacenter operators, cloud providers, and telecommunications companies.
FISV
Fiserv
$33.38Bn
62.74
+1.11%
-1.97%
Fiserv's core business is moving money at the point of sale and processing transactions, as evidenced by its Merchant segment which provides merchant acquiring, mobile payments, and the Clover point of sale platform. It generates the majority of its revenue from processing and services fees tied to these transaction-based activities.
ZS
Zscaler
$33.24Bn
203.88
-9.16%
-37.05%
Zscaler provides a cloud-native security platform focused on protecting networks, applications, and workloads through its Zero Trust Exchange. Its core products include Zscaler Internet Access, Zscaler Private Access, and data loss prevention, all of which are designed to secure traffic and mitigate threats.
NTAP
NetApp
$33.20Bn
169.38
-9.75%
+46.41%
NetApp designs and sells physical enterprise storage hardware, specifically the All-Flash FAS (AFF) and Fabric Attached Storage (FAS) series, which are deployed in datacenters.
TER
Teradyne
$33.06Bn
211.71
-15.65%
+12.86%
Teradyne's primary business is the design and manufacture of automated test equipment, including wafer-level, device-package, and system-level test systems for semiconductors and complex electronics. Its Product Test segment specifically provides circuit board test and inspection systems and wireless test systems for customers in data centers, automotive, and aerospace.
CIEN
Ciena
$32.74Bn
230.72
-15.07%
+17.83%
Ciena designs and sells networking hardware including optical networking, routing, and switching equipment for core, metro, and data center interconnect networks. Its primary revenue comes from these networking platforms and the software that runs them, serving network operators and cloud providers.
ALAB
Astera Labs
$31.36Bn
179.47
-19.67%
-1.36%
Astera Labs designs semiconductor-based connectivity solutions, specifically integrated circuits (ICs) such as the Aries PCIe CXL Smart DSP Retimers and Leo CXL Memory Connectivity Controllers. The company operates as a fabless designer, selling these chips and modules to hyperscalers and AI accelerator vendors.
IRM
2nd
Iron Mountain
$31.36Bn
105.30
-11.37%
+4.81%
The company operates a Global Data Center segment that provides enterprise-class colocation facilities and hyperscale ready capacity, leasing power and space to customers across 31 data centers.
EXPE
Expedia
$31.19Bn
272.48
-13.74%
+27.44%
Expedia operates as a global travel marketplace connecting buyers and sellers of travel services, taking commissions and fees. Its core business model involves enabling commerce between travelers and suppliers like hotels, airlines, and car rental companies via its online platforms and mobile apps.
P
Everpure
$31.13Bn
93.43
-16.36%
-3.69%
Everpure sells physical storage hardware systems, specifically FlashArray storage arrays and FlashBlade scale-out storage, which are deployed in datacenters. These products are designed for enterprise data storage and compete directly with server and storage hardware vendors like Dell EMC and NetApp.
TWLO
Twilio
$31.10Bn
200.99
-5.77%
+52.95%
Twilio provides a cloud communications platform that sells programmable APIs for messaging, voice, email, and video to developers and businesses. Its primary revenue is generated from usage-based fees for these communication services, which are delivered via its proprietary Super Network.
UI
Ubiquiti
$31.08Bn
513.55
-8.69%
-33.96%
Ubiquiti designs and sells networking hardware including wireless LAN equipment, switching and routing solutions, and wireless backhaul solutions. These products are powered by the UISP and UniFi OS software platforms to move data packets across enterprise and service provider networks.
AXON
Axon Enterprise
$31.08Bn
382.56
-9.81%
-40.18%
Axon provides integrated hardware and software solutions for public safety, specifically focusing on data capture, storage, and analysis for law enforcement and security operations. Its software segment includes products like Axon Evidence and Axon Records, which are used for managing video evidence and ensuring compliance with legal requirements.
NBIS
Nebius
$30.46Bn
120.37
-14.94%
+2.88%
Nebius provides a full stack AI cloud platform offering GPU-based compute instances, storage, and networking for AI model training and inference. It competes directly with major cloud providers like AWS, Google Cloud, and Azure, selling compute resources as a service.
CPRT
2nd
Copart
$30.09Bn
32.48
-0.43%
-22.54%
The company operates a global online auction marketplace that connects sellers (insurance companies, dealers) with buyers (dismantlers, rebuilders), earning listing and selling fees from these digital transactions.
CTSH
Cognizant Technology Solutions
$29.81Bn
66.54
+1.16%
-10.88%
Cognizant is a professional services company that generates revenue through systems integration, application development, application maintenance, and technology consulting. Its business model is based on providing technology labor and expertise as a service to a diverse global client base.
IMOS
Chipmos Technologies
$29.68Bn
42.40
-17.32%
+96.11%
ChipMOS is an independent provider of semiconductor assembly and testing services, which is the definition of an OSAT (Outsourced Semiconductor Assembly and Test) provider. The company's revenue is derived from back-end processes including wafer probing, final testing, and various packaging formats like BGA, QFN, and WLCSP.
CPNG
2nd
Coupang
$29.38Bn
16.44
-3.52%
-45.60%
The company operates 'Eats', a restaurant delivery platform that matches consumers with restaurants and manages the delivery of meals.
CPAY
Corpay
$28.73Bn
446.09
+6.60%
+70.47%
Corpay provides a broad suite of payment and spend management solutions, including accounts payable automation, virtual cards, and commercial card programs. Its revenue is primarily generated from transaction fees and service fees associated with these payment platforms.
OKTA
Okta
$28.61Bn
171.16
-10.41%
+96.44%
Okta provides cloud-based identity and access management solutions, specifically offering single sign-on, multi-factor authentication, and privileged access management. Its revenue is derived from subscriptions to the Okta and Auth0 platforms which manage workforce and customer identities.
TCOM
2nd
Trip.com
$28.46Bn
43.81
+2.62%
-37.85%
The company operates an integrated travel platform that connects users with ecosystem partners (hotels, airlines, etc.) and takes a commission or fee, functioning as a digital marketplace for travel services.
VLTO
2nd
Veralto
$28.37Bn
116.55
-0.40%
+16.64%
The company sells software subscriptions for traceability, packaging design, and quality management, which are purpose-built for the supply chain and production workflows of its industrial and CPG customers.
VRSN
Verisign
$28.02Bn
312.06
-1.88%
+27.88%
VeriSign operates as a domain name registry for TLDs such as .com and .net, charging annual fees for registrations and renewals. The company also performs Root Zone Maintainer functions and operates global internet root servers, which are core components of the naming and hosting layer of the internet.
VRSK
2nd
Verisk Analytics
$27.52Bn
211.47
+6.88%
-1.21%
The company provides technology solutions for underwriting, claims management, and catastrophe modeling that transform traditional insurance workflows. These integrated solutions are sold to insurance carriers and domestic insurtech firms to improve operating efficiency.
TDY
2nd
Teledyne Technologies
$27.38Bn
592.36
-6.25%
+15.54%
The Instrumentation segment manufactures high-performance oscilloscopes, high-speed protocol analyzers, and generators used by design and test engineers to validate electronic designs.
BIDU
Baidu
$27.04Bn
79.48
-1.18%
-35.56%
Baidu is described as a leading AI company that provides AI cloud solutions and the ERNIE Bot. It sells AI infrastructure and platform services to enterprises and the public sector, and serves tens of millions of developers.
HPQ
Hp
$26.57Bn
29.42
-1.74%
+10.44%
HP's Personal Systems segment generates significant revenue from the sale of commercial and consumer desktops, notebooks, and workstations, including their AI PC portfolio.
ZM
Zoom Communications
$25.96Bn
88.82
-3.29%
+6.28%
Zoom's core business is a communications platform providing video conferencing (Zoom Meetings), cloud-based telephony (Zoom Phone), and persistent messaging (Zoom Team Chat). These products are sold as subscriptions to individuals and enterprises for real-time communication.
CLS
Celestica
$25.93Bn
205.62
-13.00%
-41.69%
Celestica operates as an electronics manufacturing services (EMS) provider, offering contract design, electronics manufacturing, assembly, and systems integration for other brands. It explicitly competes in the contract design and manufacturing industry against other EMS providers like Flex and Jabil.
GPN
Global Payments
$25.23Bn
95.36
-0.56%
+20.40%
Global Payments provides payment processing services and merchant acceptance solutions, earning revenue primarily from fees based on a percentage of transaction value or fixed fees per transaction. Its core business is moving money at the point of sale through authorization, settlement, and funding services.
JBL
Jabil
$24.69Bn
236.36
-8.53%
+8.35%
Jabil is a leading provider of electronic manufacturing services (EMS), offering design, production, and product management services. It operates a global manufacturing footprint to build electronic products under contract for customers in sectors like cloud and data center infrastructure, networking, and automotive.
FLEX
Flex
$24.65Bn
66.73
-13.61%
+2.25%
Flex is a contract manufacturer that provides PCBA and assembly of systems and subsystems for other brands across automotive, medical, industrial, and cloud markets. Its revenue model is based on providing design, engineering, supply chain, and manufacturing services as a partner to a diverse customer base.
MDB
MongoDB
$24.54Bn
304.59
-7.24%
-13.04%
MongoDB provides a globally distributed operational database and a managed multi-cloud database-as-a-service (Atlas). Its core product is a document-based database management system used to store, move, and govern data.
ON
On Semiconductor
$24.53Bn
63.01
-11.55%
+25.82%
On Semiconductor is an integrated device manufacturer that owns and operates its own fabrication plants, specifically citing a 'vertically integrated SiC manufacturing strategy' and 'leading edge fabrication technologies' to produce its power and sensing chips.
CRWV
CoreWeave
$24.06Bn
43.66
-9.83%
-61.84%
CoreWeave is a purpose-built AI cloud provider that operates a network of data centers and sells on-demand and committed access to GPU clusters, high-performance networking, and AI-optimized storage. Its primary revenue comes from Infrastructure Services delivered as a cloud platform to research labs and enterprises.
IOT
Samsara
$24.00Bn
41.01
-4.14%
+5.83%
Samsara provides a Connected Operations Platform specifically designed for the movement and management of physical assets in logistics, transportation, and supply chain operations. The profile explicitly mentions serving logistics and transportation firms and helping them improve efficiency and safety in physical operations.
ROKU
Roku
$23.91Bn
160.37
-1.47%
+51.76%
Roku's core activity is providing the Roku TV operating system, which is the foundational software layer that powers its streaming devices and licensed smart TVs. The company explicitly identifies this proprietary OS as a key competitive advantage.
AFRM
2nd
Affirm Holdings
$23.61Bn
69.66
-7.84%
-2.60%
The company provides point-of-sale payment solutions and a debit card, earning merchant fees when transactions are processed through its platform and receiving a share of interchange revenue.
Q
2nd
Qnity Electronics
$23.01Bn
110.06
-7.40%
+10.45%
The company provides critical consumables used in chip fabrication, specifically CMP slurries, CMP pads, and lithographic materials. These products are consumed during the wafer processing stage and are sold to semiconductor device manufacturers and foundries.
XYL
2nd
Xylem
$22.94Bn
100.02
-1.01%
-33.62%
The company sells data analytics software and digital software solutions specifically for the planning and execution of water movement and resource optimization via Xylem Vue Analytics 360.
EFX
2nd
Equifax
$22.70Bn
193.85
+0.88%
-6.50%
The Workforce Solutions segment provides HR software and services, including employment and income verification via The Work Number, I-9 onboarding, and Affordable Care Act compliance for employers.
WIT
Wipro
$22.65Bn
2.16
+0.00%
-17.87%
Wipro is primarily an information technology services and consulting company, with its IT Services segment contributing 99.7% of total revenue. It sells technology labor and expertise through custom application development, digital transformation, and consulting services using time-and-material and fixed-price contracts.
RBRK
Rubrik
$21.92Bn
105.77
-11.10%
+46.19%
Rubrik provides a Zero Trust Data Security platform focused on protecting, monitoring, and recovering data from cyber attacks. Its Rubrik Security Cloud suite specifically delivers threat analytics, cyber recovery, and data security posture management to protect against ransomware and other threats.
BR
Broadridge Financial Solutions
$21.90Bn
193.94
+2.51%
-11.27%
Broadridge provides business process outsourcing and automation for the financial industry, specifically handling the full proxy materials distribution, vote tabulation, and regulatory communications. Its revenue is driven by fees for these technology-driven outsourcing services and subscription-based access to these automation platforms.
PTC
Ptc
$21.55Bn
194.60
-0.30%
+2.44%
PTC provides computer-aided design (CAD) and product lifecycle management (PLM) software, specifically citing Creo 3D CAD and Windchill PLM, which are used by contractors and engineering firms to design and build complex products. These tools are purpose-built for the construction and built environment of industrial products, fitting the vertical software definition for T-30.
U
Unity Software
$21.41Bn
48.65
+14.55%
+14.85%
Unity provides a comprehensive suite of developer tools, including a real-time 3D engine, development environment, and DevOps tools, used by developers, artists, and designers to build interactive content. Its 'Create Solutions' revenue comes from licensing and subscriptions for these engine development tools and cloud services.
SYM
2nd
Symbotic
$21.16Bn
35.04
-6.58%
-55.12%
The company's core differentiator is its AI-powered software and control systems that enable autonomous robots to operate at high speeds with minimal human intervention. This software is integrated into their robotic systems to manage warehouse logistics and real-time inventory optimization.
CRDO
Credo Technology Group Holding
$21.09Bn
112.33
-17.71%
-35.13%
Credo designs and markets integrated circuits, SerDes chiplets, and semiconductor intellectual property based on its proprietary serializer deserializer and digital signal processor technologies. The company operates as a fabless designer, selling these chips and licensing IP to customers like hyperscale data center operators and cloud infrastructure providers.
SOFI
2nd
SoFi Technologies
$20.80Bn
16.04
-7.71%
-46.66%
The company's Technology Platform segment provides a cloud-native digital and core banking platform, including a real-time payment risk platform and API-based authorization services sold to financial institutions and government entities.
TYL
Tyler Technologies
$20.72Bn
430.29
+1.64%
-6.62%
Tyler Technologies provides broad multi-module ERP suites for the public sector, including modules for finance, human resources, procurement, and asset management. The profile explicitly states it serves local, state, and federal government entities with back office systems of record for core governmental functions.
TOST
Toast
$20.39Bn
35.16
-0.57%
-9.89%
Toast provides a cloud-based platform specifically for the restaurant and food and beverage retail industries, including POS terminals, kitchen display systems, and online ordering. Its core product is a vertical software suite designed around restaurant-specific workflows like dine-in, takeout, and catering.
GFS
Globalfoundries
$20.20Bn
36.33
-9.94%
+1.96%
GlobalFoundries operates as a pure play semiconductor foundry, generating its primary revenue by producing integrated circuits and selling wafer fabrication services to fabless design companies and integrated device manufacturers.
CDW
Cdw
$19.80Bn
158.39
-6.18%
+8.25%
CDW is a multi-brand provider that sells over 100,000 products from more than 1,000 vendor partners, including hardware like notebooks, servers, and software suites. Its core business model is the distribution and resale of other vendors' technology to business, government, and education customers.
ENTG
Entegris
$19.06Bn
124.75
-12.68%
+40.96%
Entegris sells materials consumed during wafer fabrication, specifically chemical vapor and atomic layer deposition precursors, chemical mechanical planarization (CMP) slurries and pads, and formulated etch and clean chemicals. These products are recurring consumables tied to wafer starts, which is the defining characteristic of the Semiconductor Materials industry.
RCI
2nd
Rogers Communications
$18.41Bn
34.10
-1.42%
-8.43%
Rogers provides hosted data centre solutions and network connectivity through its data centre assets to business, public sector, and carrier wholesale customers.
SSNC
SS&C Technologies Holdings
$18.37Bn
78.31
-1.58%
-8.68%
SS&C provides software-enabled services to automate complex business processes, specifically offering robotic process automation (RPA) through its Blue Prism acquisition and intelligent automation for front-, middle-, and back-office functions.
GIB
Cgi
$18.35Bn
82.41
+0.16%
-8.02%
CGI is a global provider of managed IT services, strategic IT consulting, and systems integration. Its revenue is primarily generated from technology labor and expertise delivered via fixed-price, time-and-material, and milestone-based arrangements for both public and private sector clients.
GEN
Gen Digital
$18.15Bn
30.60
-0.94%
+18.42%
Gen Digital's primary revenue driver is its Cyber Safety Platform, which includes cybersecurity and online privacy products under the Norton and Avast brands. These offerings provide threat protection and secure navigation of the digital world for a large international consumer base.
VIV
2nd
Telefonica Brasil
$18.09Bn
11.32
+0.09%
-10.09%
The company provides corporate services to business enterprises, including managed IT services and customized communication systems.
RDDT
Reddit
$18.07Bn
93.83
-7.84%
-52.19%
Reddit operates a global online platform centered on user-generated content and social interaction through communities called subreddits. Its core value is the network of users connecting over shared interests, which is the defining characteristic of the Social Media industry.
SMCI
Super Micro Computer
$17.79Bn
27.08
-8.51%
-35.57%
Super Micro Computer designs and manufactures server systems, storage arrays, and full rack-scale solutions specifically for data centers and cloud service providers. Its primary revenue is generated from the sale of these server and storage systems, subsystems, and accessories.
FFIV
F5
$17.71Bn
311.74
-5.45%
+26.47%
F5 provides a comprehensive security portfolio including web application and API protection, distributed denial of service (DDoS) defense, bot mitigation, and web application firewalls (WAF) across its Distributed Cloud, NGINX, and BIG-IP segments.
RBA
2nd
Rb Global
$17.55Bn
94.80
-0.32%
-2.90%
The company operates digital marketplaces and online bidding platforms that connect buyers and sellers of automotive, construction, and agricultural assets, taking a commission or fee on these digital transactions.
KSPI
2nd
Joint Stock Co Kaspi.kz
$17.42Bn
91.58
-4.02%
+24.38%
The company operates a Marketplace Platform that connects third-party merchants with consumers for e-Commerce, e-Grocery, and e-Cars, earning commissions on these third-party sales.
J
2nd
Jacobs Solutions
$17.28Bn
147.54
-7.84%
-5.42%
Jacobs integrates digital capabilities and data-driven solutions into its delivery model to help clients adopt digital solutions. It competes with technology firms like Accenture and Capgemini in providing digital transformation and technical services.
SNX
Td Synnex
$17.18Bn
215.36
-6.66%
+40.57%
TD SYNNEX operates as a global distributor that sources hardware and software from over 2,500 OEMs and resells them to a network of more than 150,000 reseller customers. Its primary revenue model is purchasing technology products and reselling them to value-added resellers, system integrators, and retailers.
JLL
2nd
Jones Lang Lasalle
$17.14Bn
375.18
-3.87%
+30.44%
The company has a dedicated Software and Technology Solutions segment that sells cloud-based platforms like Building Engines and Corrigo to streamline building management and facility operations.
NRG
2nd
Nrg Energy
$16.94Bn
80.57
-3.17%
-53.48%
Through its Vivint Smart Home segment, the company sells integrated home security systems, automation devices, and energy management tools. These products represent a substantive business line focused on the intelligence and control of physical home systems.
RVTY
2nd
Revvity
$16.83Bn
150.86
-5.40%
+62.97%
The company sells specialized healthcare IT software, including electronic lab notebooks, clinical trial platforms, and AI-enabled analytics designed for life sciences operations and clinical workflows.
HAS
2nd
Hasbro
$16.72Bn
119.54
-1.68%
+55.51%
The company operates a Digital Gaming segment that develops and publishes interactive entertainment software, including titles like MONOPOLY GO! and original games for PC and consoles.
CRCL
2nd
Circle Internet
$16.48Bn
69.49
-8.70%
-38.52%
The company builds foundational blockchain infrastructure, including the Arc Layer-1 blockchain network, Circle Wallets for app integration, and Circle Contracts for smart contract development.
NTNX
Nutanix
$15.84Bn
58.55
-8.08%
-16.01%
Nutanix provides a hybrid multicloud computing platform that enables customers to build and operate infrastructure across public clouds, core data centers, and edge locations. Its revenue is primarily derived from subscriptions to the Nutanix Cloud Platform, which offers compute, storage, and networking as a unified software stack.
CHKP
Check Point Software Technologies
$15.65Bn
148.18
+0.52%
-24.17%
Check Point sells a comprehensive cybersecurity platform including firewall appliances, endpoint protection, and email security to protect organizations from ransomware and phishing. Its revenue is driven by security subscriptions and licenses for products like Check Point Firewall and Extended Detection and Response (XDR).
ULS
2nd
UL Solutions
$15.39Bn
76.20
-4.44%
-11.17%
The company has a dedicated Software and Advisory segment that delivers SaaS and license-based software to help customers manage regulatory compliance, chemical management, and ESG data.
FICO
Fair Isaac
$15.27Bn
707.06
+0.86%
-56.60%
Fair Isaac provides a 'suite of software products that help businesses automate, improve and connect decisions' and operates a 'Software segment' offering analytic and decision management solutions. Its core value proposition is based on 'predictive modeling and decision analytics' sold as SaaS or on-premises to a broad range of business customers.
ZBRA
Zebra Technologies
$15.15Bn
321.64
-3.25%
+20.79%
Zebra Technologies designs and manufactures discrete electronic components and sensor modules, specifically barcode scanners, RFID readers, and imagers, which serve as building blocks for data capture. These products are sold to OEMs and end-users across various industries for asset tracking and identification.
FIS
Fidelity National Information Services
$15.14Bn
29.38
-1.31%
-54.63%
FIS provides core processing software and multi-module platforms for financial institutions, including global, regional, and community banks. These systems serve as the single system of record for banking operations, matching the ERP definition for the public and private financial sector.
NXT
2nd
Nextpower
$15.01Bn
99.58
-6.67%
-10.96%
The company provides the NX Navigator operations and maintenance platform and TrueCapture energy yield management solutions, which are software tools used to plan and execute the performance and operability of solar power plants.
TME
Tencent Music Entertainment
$14.86Bn
9.44
-0.42%
-57.95%
The company operates flagship applications like QQ Music, Kugou Music, and Kuwo Music, which deliver music streaming and long-form audio services (audiobooks, podcasts) to users. Revenue is generated through monthly subscription fees for these streaming services and advertising sales.
DOCU
Docusign
$14.83Bn
78.80
-2.11%
+11.14%
Docusign provides a platform for the agreement lifecycle, specifically focusing on eSignatures, contract lifecycle management, and compliance with global electronic signature standards. Its products are used by businesses to manage legal obligations, ensure secure signing, and maintain audit trails for regulatory and governance purposes.
DIDIY
DiDi Global
$14.82Bn
3.18
+0.63%
-38.01%
DiDi Global operates a leading technology platform for shared mobility, generating its primary revenue from ride-hailing, online taxi, chauffeur, and carpooling services. It matches the buyer (riders) and revenue model (take rate on trips) described for ride-hailing and delivery platforms.
MANH
Manhattan Associates
$14.82Bn
255.17
-2.01%
+41.66%
Manhattan Associates provides software specifically for supply chain execution, including warehouse management, transportation management, and demand forecasting. Its products are purpose-built for logistics providers, wholesalers, and manufacturers to optimize distribution and inventory planning.
SOLV
2nd
Solventum
$14.81Bn
87.16
-2.41%
+28.76%
The Health Information Systems segment sells software platforms for computer-assisted physician documentation, coding automation, and revenue cycle management specifically designed for hospitals and health systems.
DUOL
Duolingo
$14.76Bn
157.02
-2.61%
-39.61%
Duolingo develops and operates digital platforms for teaching and learning, specifically offering language, math, music, and chess courses via its flagship app. It also provides the Duolingo English Test for academic and professional proficiency assessment, serving a global base of learners and educational institutions.
TSEM
Tower Semiconductor
$14.74Bn
130.99
-11.97%
+50.46%
Tower Semiconductor is a pure play independent specialty foundry that generates revenue by manufacturing processed wafers for customers based on their design specifications. The company operates physical wafer fabrication facilities in Israel, the United States, Japan, and Italy.
NWSA
2nd
News
$14.74Bn
26.48
-13.35%
+3.28%
The company operates Digital Real Estate Services through REA Group and Move, which provide property listing and lead generation platforms like realestate.com.au and Realtor.com.
GDDY
GoDaddy
$14.72Bn
120.33
+1.57%
-9.59%
GoDaddy's Core Platform segment, which contributes 62% of revenue, focuses on domain registration, renewals, and aftermarket domain sales. The company manages approximately 81 million domain names, positioning it as a leader in the domain registry and registrar space.
IREN
Iren
$14.67Bn
18.03
-16.95%
-76.40%
The company generates a primary stream of revenue from bitcoin mining operations, earning block rewards and transaction fees by contributing hashrate to global mining pools. It operates large fleets of application specific integrated circuits (ASICs) to validate blockchain transactions.
TU
2nd
Telus
$14.57Bn
9.41
+1.95%
-35.72%
Through TELUS Health, the company sells virtual care platforms, electronic medical record tools, and remote patient monitoring to healthcare providers and insurers.
MTSI
MACOM Technology Solutions Holdings
$14.54Bn
190.35
-18.35%
+27.17%
MACOM designs and manufactures high-performance semiconductor products and operates its own compound semiconductor fabrication facilities. The company's business model includes both the design and the physical manufacturing of integrated circuits, diodes, and amplifiers.
AVY
2nd
Avery Dennison
$14.37Bn
190.01
-1.35%
+8.88%
The Solutions Group develops and sells radio-frequency identification (RFID) inlays and tags, which are discrete electronic components used for item-level visibility and loss prevention in retail and logistics.
LSCC
Lattice Semiconductor
$13.93Bn
98.03
-8.60%
+55.23%
Lattice Semiconductor designs and sells field programmable gate array (FPGA) devices and related silicon enabling products. The company operates as a fabless designer, monetizing its programmable logic semiconductor products and licensing chip IP.
LOGI
Logitech International
$13.92Bn
98.17
-1.95%
-17.40%
Logitech designs and sells a broad portfolio of computer peripherals, including keyboards, mice (pointing devices), webcams, and headsets. These products are sold as add-ons and accessories that plug into computing devices, matching the T-10 definition.
GRAB
Grab Holdings
$13.81Bn
3.48
+3.57%
-38.30%
Grab operates a superapp that matches consumers with drivers and couriers for ride-hailing (GrabCar, GrabTaxi) and delivery services (GrabFood, GrabMart, GrabExpress), earning revenue through service fees and commissions.
GWRE
Guidewire Software
$13.72Bn
167.38
-1.94%
-23.99%
Guidewire provides a platform specifically for property and casualty insurers, offering core systems for policy administration, claims management, and billing. Its products, such as InsuranceSuite and InsuranceNow, are purpose-built for insurance workflows and regulations, fitting the definition of Insurtech.
CART
Maplebear
$13.70Bn
57.79
-2.41%
+58.81%
Maplebear operates a marketplace where consumers shop from a variety of retailers for delivery or pickup, collecting marketplace fees from retailers for each order processed. This core model connects buyers (consumers) and sellers (retailers) of physical goods, which is the defining characteristic of a digital marketplace.
WSE
2nd
Wise
$13.64Bn
11.05
-4.58%
—
The company provides payment infrastructure via the Wise Platform, which allows banks and enterprises like Itaú and Monzo to integrate card issuance and cross-border transfer capabilities into their own offerings. It also earns interchange fees from the Wise Card spending.
BSY
Bentley Systems
$13.57Bn
44.94
+2.98%
-7.30%
Bentley Systems provides software for the design, construction, and operation of global infrastructure, including roads, rail, bridges, and tunnels. Its products are specifically sold to professionals in engineering, architecture, and construction for project and asset lifecycle management.
CACI
2nd
Caci International
$13.44Bn
604.92
-4.12%
+2.78%
The company generates significant revenue by selling expertise and technology labor, including custom agile software development, data analysis, and systems integration for government and commercial clients.
CSGP
Costar
$12.89Bn
32.05
-1.63%
-54.50%
CoStar provides subscription-based licenses for access to property databases, market analytics, and benchmarking tools for both commercial and residential real estate. Its core products include listing marketplaces like LoopNet and Apartments.com, as well as data platforms for leasing, sales, and valuation analytics.
JKHY
Jack Henry & Associates
$12.63Bn
180.11
+0.53%
+12.69%
Jack Henry provides core processing systems and digital banking platforms specifically for community and regional banks and credit unions. Its business model centers on providing the technology-first infrastructure (core platforms) that enables these financial institutions to operate.
DKS
2nd
Dick'S Sporting Goods
$12.54Bn
141.19
-4.36%
-35.52%
The company owns and operates GameChanger, a youth sports mobile platform that generates revenue through subscriptions and advertising for live streaming of games.
DT
Dynatrace
$12.51Bn
43.69
-6.51%
-7.81%
Dynatrace provides an AI-powered observability platform for monitoring, log management, and distributed tracing to help IT operations teams manage complex digital environments. The profile specifically mentions its focus on optimizing cloud and IT operations and its competition with other observability players like Datadog and New Relic.
TEM
2nd
Tempus AI
$12.46Bn
70.28
-7.05%
-14.56%
The company develops and licenses software tools like Hub Lens and Notebooks, as well as AI applications for clinical trial matching and algorithmic diagnostics, specifically designed for the biopharma and healthcare research workflows.
DVA
2nd
Davita
$12.34Bn
194.64
+1.08%
+60.65%
DaVita sells a proprietary transplant software product called MedSleuth, which connects transplant candidates with care teams to improve matching and outcomes, generating revenue through software licensing.
TRMB
Trimble
$12.32Bn
53.64
-1.12%
-33.42%
Trimble provides a comprehensive suite of construction software, including building information modeling (BIM), virtual design and construction, and project management tools like SketchUp and Trimble Connect. These products are specifically designed for architects, engineers, and contractors to manage the lifecycle of the built environment.
SWKS
Skyworks Solutions
$12.22Bn
81.21
-2.06%
+10.55%
Skyworks is described as a 'developer manufacturer and provider' of analog and mixed signal semiconductor products, including radio frequency front end modules and power amplifiers. Unlike fabless designers, the company is identified as a manufacturer of these integrated circuits.
MKSI
Mks
$11.94Bn
176.63
-9.40%
+26.24%
MKS provides critical subsystems and instruments for semiconductor manufacturing, including vacuum technologies, power generation, and laser-based systems used in wafer fabrication. The company explicitly describes itself as a provider in the wafer fabrication equipment ecosystem, selling to semiconductor capital equipment manufacturers.
BILI
Bilibili
$11.94Bn
14.25
+2.67%
-50.24%
Bilibili operates a video community platform centered on user-generated content and social interaction, where the core product is a network of users connecting over shared interests. Its business model relies heavily on community-driven engagement, memberships, and advertising targeted at its Generation Z+ user base.
CHYM
Chime Financial
$11.57Bn
30.18
+1.04%
+57.85%
Chime is a neobank that provides digital banking, savings, and wealth management services through a software-native mobile application. It explicitly operates through bank partners rather than holding its own charter, relying on its proprietary technology platform, ChimeCore, as its core competitive advantage.
IONQ
IonQ
$11.45Bn
26.48
-10.36%
-52.21%
IonQ specializes in the development and commercialization of quantum computing hardware and software, utilizing a proprietary trapped-ion architecture. It generates revenue through the sale of specialized quantum computers and cloud-based quantum computing-as-a-service (QCaaS) via platforms like AWS Braket and Azure Quantum.
HII
2nd
Huntington Ingalls Industries
$11.39Bn
289.13
-4.80%
-5.72%
Through its Mission Technologies segment, the company provides integrated technology solutions, C5ISR platforms, and cyber capabilities, which align with the systems integration and technology consulting described in IT Services.
PINS
Pinterest
$11.32Bn
19.77
-6.83%
-23.22%
Pinterest operates a platform for social interaction and user-generated content where users find ideas and save them to boards. Its core value is the network of 619 million monthly active users connecting with content from creators, brands, and other users.
PCOR
Procore Technologies
$11.31Bn
75.60
+0.01%
+5.68%
Procore provides a comprehensive construction management platform specifically for owners, general contractors, and specialty contractors. Its products, such as Estimating, Bid Management, and Project Management, are purpose-built for the construction vertical's unique workflows and project lifecycles.
ALGN
2nd
Align Technology
$11.27Bn
159.37
-3.35%
+16.15%
The company sells and licenses exocad CAD/CAM software to dental laboratories and clinics for treatment planning and digital model fabrication. This software is purpose-built for healthcare/dental workflows and regulations, qualifying as Healthcare IT.
PAYC
Paycom Software
$11.26Bn
249.99
-6.73%
+36.08%
Paycom provides a cloud-based human capital management (HCM) solution that manages the full employee lifecycle, including payroll, talent acquisition, and HR functions. The company's revenue is generated through subscription fees for these HR-specific applications.
SIRI
2nd
Sirius Xm Holdings
$11.20Bn
33.22
-0.54%
+50.11%
The company operates Pandora, which provides ad-supported and premium music streaming services to millions of monthly active users and subscribers.
AKAM
Akamai Technologies
$11.18Bn
77.84
-9.41%
+6.66%
Akamai operates a global edge platform with over 4,300 points of presence to provide content delivery, media streaming, and video delivery services. Its 'Delivery' segment specifically focuses on web and mobile performance optimization to reduce latency for digital content.
PSO
2nd
Pearson
$11.13Bn
17.50
-1.35%
+27.83%
The company operates a Virtual Learning segment providing online learning solutions for K12 students, including turnkey virtual school solutions and AI-powered study tools. It also provides digital platforms for higher education and professional skills development.
QGEN
2nd
Qiagen
$11.03Bn
50.86
+0.08%
+15.46%
QIAGEN sells the QIAGEN Digital Insights portfolio, including CLC Bio and Ingenuity Pathway Analysis, which are software platforms purpose-built for interpreting genomic and molecular data in precision oncology and genetic disease research.
BMNR
Bitmine Immersion Technologies
$11.00Bn
18.98
-12.70%
-54.18%
The company operates BTC mining operations and provides hosting and mining as a service, utilizing specialized immersion cooling infrastructure to validate blockchain transactions. It generates revenue from BTC mining and hosting services, including pool payout optimization and uptime maximization.
BAH
2nd
Booz Allen Hamilton Holding
$10.64Bn
89.33
+1.17%
+3.14%
The company provides substantive technology services including systems integration, software development, and digital transformation. These activities are delivered as services to clients like the U.S. Navy and the National Security Agency.
SAIL
SailPoint
$10.50Bn
18.39
-6.74%
-6.93%
SailPoint provides an identity security platform that manages digital identities for employees, non-employees, machines, and AI agents. Its core products, Identity Security Cloud and IdentityIQ, focus on identity governance, visibility into resource access, and automating identity policies.
FN
Fabrinet
$10.50Bn
292.98
-14.27%
-39.83%
Fabrinet provides electronic manufacturing services (EMS) to OEMs, specifically focusing on optical communication components, industrial lasers, and automotive components. Its revenue model is based on providing manufacturing services to customers like NVIDIA and Cisco.
TTEK
2nd
Tetra Tech
$10.38Bn
40.55
-0.95%
+24.46%
The company sells the Tetra Tech Delta technology suite as software subscriptions, which provides digital solutions for managing water and environmental infrastructure workflows.
GNRC
2nd
Generac Holdings
$10.17Bn
172.34
-8.93%
+8.27%
Generac generates recurring software subscription revenue from energy management and monitoring platforms such as ecobee, Blue Pillar, Ageto, and Mobile Link, which automate home and industrial energy processes.
HUBS
Hubspot
$10.03Bn
205.35
-5.27%
-55.81%
HubSpot's core product is a 'Smart CRM' and a customer platform designed to help businesses manage sales, teams, and business processes. The company specifically targets mid-market B2B firms to manage the sales relationship and revenue pipeline via its Sales and CRM hubs.
FIG
Figma
$9.86Bn
18.43
-17.02%
-58.12%
Figma provides a cloud-based platform for vector editing, UI design, and prototyping, which are core activities for creating visual and digital content. The profile specifically mentions its use for mobile app design, website creation, and game prototyping, fitting the description of creative software.
PAYP
2nd
PayPay
$9.84Bn
14.54
-8.90%
—
The company operates a massive payment processing network for millions of merchants, including Seven-Eleven and Lawson, generating revenue through transaction fees on payment processing.
AYI
2nd
Acuity Inc. (De)
$9.60Bn
323.33
-4.22%
-11.07%
The company provides the Atrius data platform and cloud applications for building performance and spatial intelligence, which are software tools used for managing the built environment.
KLAR
2nd
Klarna
$9.57Bn
13.56
-2.45%
-63.03%
Klarna operates a payment processing business where merchants pay fees for the use of its payment solutions, including 'Pay in Full' and integration with digital wallets like Apple Pay and Google Pay.
HSIC
2nd
Henry Schein
$9.43Bn
85.31
-3.32%
+18.47%
The Global Technology segment develops and distributes practice management software and e-services specifically for healthcare providers, competing with systems like Eaglesoft and Epic Systems.
SITM
Sitime
$9.41Bn
355.00
-11.97%
+27.21%
SiTime designs silicon-based timing products, including oscillators and clock integrated circuits, using a fabless business model. The company focuses on the design and marketing of these chips while outsourcing the actual wafer fabrication to third-party foundries.
YMM
Full Truck Alliance
$9.32Bn
8.94
-0.78%
-29.27%
Full Truck Alliance operates a digital freight platform that connects shippers with truckers, acting as a digital marketplace for logistics services. It generates revenue through freight listing membership fees and brokerage service fees for matching buyers (shippers) and sellers (truckers) of freight capacity.
HNGE
2nd
Hinge Health
$9.30Bn
115.98
-3.97%
+155.52%
The company operates a proprietary technology platform featuring AI-driven motion tracking and a digital musculoskeletal platform designed specifically for clinical workflows and healthcare delivery.
FROG
JFrog
$9.16Bn
74.46
-13.76%
+61.45%
JFrog provides a unified platform for the software supply chain, specifically targeting developers, DevOps, and SRE professionals. Its core product, JFrog Artifactory, serves as a system of record for software artifacts and packages, which is a fundamental developer tool for managing the build and delivery pipeline.
OSCR
2nd
Oscar Health
$9.14Bn
33.19
-5.68%
+94.89%
The company sells the +Oscar platform to external providers and payors, offering products like Campaign Builder for population identification, care management workflows, and integration with electronic health record systems.
PCTY
Paylocity Holding
$9.02Bn
169.38
-0.92%
+16.44%
Paylocity provides a comprehensive human capital management (HCM) platform covering the full employee lifecycle, including recruitment, onboarding, benefits administration, and performance management. Its core revenue is driven by subscriptions for these HR-centric modules used by approximately 41,650 organizations.
SKYD
2nd
Skydance
$9.02Bn
8.14
-2.86%
-46.06%
The company operates a Direct-to-Consumer segment with streaming services including Paramount+, Pluto TV, and BET+, generating revenue from consumer subscriptions and digital advertising.
ARW
Arrow Electronics
$8.99Bn
176.70
-12.79%
+56.61%
Arrow Electronics is primarily a distributor and reseller of other vendors' technology, sourcing electronic components and enterprise computing solutions for OEMs and service providers. The profile explicitly states it holds a strong position in the 'global electronics distribution industry' and generates revenue through the distribution of semiconductors, interconnects, and computing hardware.
MTCH
Match
$8.95Bn
39.16
-2.61%
+17.99%
Match Group operates a global portfolio of social interaction platforms including Tinder, Hinge, and Match, where the core product is a network of users connecting with each other. Its revenue is derived from user subscriptions for premium features and advertising, which is the characteristic model for social media and networking platforms.
NVMI
Nova
$8.91Bn
280.30
-5.10%
-18.09%
Nova Ltd. designs and produces metrology hardware, including optical, x-ray, and SIMS tools, used by semiconductor manufacturers to monitor fabrication processes. These are capital equipment tools sold to chip makers to improve yield and process control.
LFUS
Littelfuse
$8.85Bn
348.39
-9.85%
+42.26%
Littelfuse designs and manufactures discrete electronic components such as fuses, switches, varistors, and sensors sold as building blocks to OEMs and distributors. These products, including ESD suppressors and gas discharge tubes, are sold to customers like Arrow Electronics and Digi Key for use in larger systems.
ESTC
Elastic
$8.85Bn
84.16
-6.14%
-3.31%
Elastic's core offering is the Elasticsearch engine, which serves as a scalable document store and search engine for transforming large volumes of data into insights. The company sells this as a foundational data layer via Elastic Cloud and self-managed software, fitting the description of data infrastructure that stores and transforms data before it reaches the application layer.
NTSK
Netskope
$8.84Bn
21.67
-4.83%
-4.71%
Netskope provides a comprehensive security platform including Cloud Access Security Broker (CASB), Data Loss Prevention (DLP), Next-Gen Secure Web Gateway (SWG), and Zero Trust Network Access (ZTNA) to protect data and stop threats.
SNAP
Snap
$8.77Bn
5.08
-14.04%
-30.41%
Snap's flagship product is Snapchat, a platform for social interaction and user-generated content where the core value is the network of users connecting via visual messaging. The company generates significant revenue from advertising and subscriptions tied to this social network.
CAE
2nd
Cae
$8.62Bn
26.79
-1.58%
-2.62%
CAE sells airline operations digital solutions, specifically flight management and crew management tools, which are software products for the supply chain and logistics of flight operations.
HQY
2nd
Healthequity
$8.58Bn
103.53
-4.88%
+9.68%
The company generates a primary revenue stream from interchange fees derived from merchant fees on payments made using its physical and virtual payment cards.
SMTC
Semtech
$8.54Bn
91.54
-17.50%
+35.61%
Semtech designs, develops, and manufactures high-performance analog and mixed-signal semiconductors, as well as wireless semiconductors. The profile explicitly states the company 'manufactures' these products and operates a 'fab-lite manufacturing model,' indicating it owns some fabrication capabilities.
EPAM
EPAM Systems
$8.45Bn
166.01
+20.89%
+3.17%
EPAM is a global provider of digital engineering and technology services, specializing in custom software development, product engineering, and cloud transformation. Its revenue is derived from providing technology labor and expertise to global enterprises and startups through a global delivery platform.
DOCN
DigitalOcean Holdings
$8.33Bn
70.63
-15.99%
+54.18%
DigitalOcean operates a public cloud platform providing infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS), specifically selling virtual machines (Droplets), storage, and networking. Its revenue is primarily generated through usage-based fees for these cloud resources consumed by developers and small-to-medium businesses.
APTV
2nd
Aptiv
$8.32Bn
40.86
-5.57%
-51.13%
The company provides advanced software, intelligent sensors, and high performance compute platforms specifically designed to enable automated vehicle safety and user experience.
BZ
Kanzhun
$8.27Bn
17.76
+1.72%
-15.31%
Kanzhun operates the BOSS Zhipin platform, which manages the recruitment lifecycle by connecting job seekers with enterprise users. Its core functionality includes job posting, resume exchange, and AI-driven job matching, which are central to human capital management and applicant tracking.
APPF
Appfolio
$8.26Bn
233.22
-1.53%
-9.43%
AppFolio provides a cloud-based software platform specifically for property management companies to manage residential, commercial, affordable, and student properties. The product embeds industry-specific workflows such as leasing, maintenance, and rent collection, which are core to the property industry.
DSGX
Descartes Systems
$8.16Bn
94.82
+0.08%
+10.85%
Descartes provides a comprehensive suite of software for planning and executing the movement of goods, including routing, transportation management, and ecommerce shipping and fulfillment. Its products specifically serve logistics service providers, freight forwarders, and customs brokers to manage the 'book to bill' and 'purchase order to dock' processes.
GTLB
Gitlab
$8.14Bn
48.99
-6.45%
+6.90%
GitLab provides a DevSecOps platform that includes source control, CI/CD pipelines, and tools for planning, building, and testing software. Its primary users are professional software engineers and DevOps teams who use the platform to manage the software development lifecycle.
AUR
Aurora Innovation
$8.12Bn
4.03
-1.23%
-9.64%
Aurora develops the 'Aurora Driver,' a self-driving technology platform providing the perception, planning, and mapping software stack for Level 4 autonomous operation. Its core product is the software and hardware system that enables vehicles to navigate without human drivers across trucking, passenger mobility, and delivery markets.
ETSY
Etsy
$8.04Bn
91.50
-4.94%
+51.79%
Etsy operates two-sided online marketplaces, including the Etsy marketplace for creative goods and the Depop marketplace for fashion resale, connecting independent sellers with buyers. The company generates revenue through transaction fees, listing fees, and commissions without holding physical inventory.
CGNX
2nd
Cognex
$7.99Bn
47.49
-10.50%
+17.26%
The company's core technology is machine vision, and it sells vision software that captures and analyzes visual information to enable machines to interpret images and 3D spatial data. This capability is a primary component of its product offering used across multiple industrial verticals.
DBX
Dropbox
$7.86Bn
35.76
-0.94%
+22.76%
Dropbox provides a horizontal workplace productivity and collaboration suite used for file sharing, storage, and content collaboration. Its core revenue comes from subscriptions for tools that teams use for everyday work, including productivity features like DocSend and Sign.
ONTO
Onto Innovation
$7.62Bn
155.47
-15.85%
+14.52%
Onto Innovation designs and manufactures capital equipment used in semiconductor fabrication, specifically metrology and inspection tools, macro defect inspection equipment, and lithography systems. These tools are sold to integrated circuit fabs and wafer producers to measure critical dimensions and device structures.
TXG
2nd
10x Genomics
$7.56Bn
58.06
-14.01%
+330.39%
The company has a dedicated Software segment providing the Cell Ranger pipeline, Loupe Browser, and Xenium Explorer, which are purpose-built for processing and visualizing single cell and spatial biological data.
AMKR
Amkor Technology
$7.56Bn
30.49
-14.50%
-16.58%
Amkor is explicitly described as an outsourced semiconductor assembly and test (OSAT) service provider. Its revenue is derived from back-end processes including wafer bump, flip-chip, 2.5D/3D stacking, and final test services for semiconductor companies.
CAI
2nd
Caris Life Sciences
$7.46Bn
26.03
-21.64%
-10.89%
The company operates a 'Caris Strategic Data' segment that licenses deidentified multimodal clinico-genomic datasets to pharmaceutical companies for clinical trial design and translational research. This involves providing a life sciences data platform purpose-built for healthcare and drug discovery.
RMBS
Rambus
$7.46Bn
69.68
-15.95%
-35.84%
Rambus designs and sells memory interface chips, such as registering clock drivers and power management ICs, using a fabless model. It sells these chips to memory module makers, OEMs, and hyperscalers.
YOU
Clear Secure
$7.42Bn
56.49
-4.46%
+77.70%
Clear Secure's core product is a proprietary identity network that uses biometric data, document verification, and device signals to confirm user identity. This is sold both as a consumer subscription (CLEAR+) and as a B2B platform (CLEAR1) for identity verification, KYC compliance, and employee onboarding.
S
SentinelOne
$7.41Bn
21.41
-8.89%
+27.67%
SentinelOne sells the Singularity Platform, which is an AI-powered cybersecurity platform providing threat prevention, detection, and response across endpoints and cloud workloads. The company's core revenue comes from subscriptions to security modules like Singularity Core, Control, and Complete.
IDCC
InterDigital
$7.39Bn
286.53
-7.12%
-25.73%
InterDigital designs foundational wireless and video technologies and licenses this intellectual property to manufacturers of smartphones, tablets, and IoT devices. Its revenue model is based on fixed-fee and variable royalty agreements for patented innovations, which aligns with the fabless/licensable chip architecture and IP model described in T-01.
SLAB
Silicon Laboratories
$7.39Bn
221.35
-0.29%
+70.91%
Silicon Laboratories is explicitly described as a fabless semiconductor firm that designs and sells wireless microcontrollers, system on chip (SoC) products, and mixed-signal integrated circuits. It does not own fabrication plants, fitting the fabless model described in T-01.
GLBE
Global-E Online
$7.32Bn
43.33
-3.56%
+19.14%
Global-E provides a technology platform that enables merchants to sell to shoppers across borders, offering localized pricing, payment options, and integrated systems to manage international sales. This matches the description of e-commerce software that provides storefront infrastructure and cross-border localization services to merchants.
LAWIL
2nd
Light & Wonder
$7.05Bn
92.45
+10.06%
—
The SciPlay segment develops and publishes digital games for online platforms, generating revenue from in-app purchases of virtual currency and advertising in titles like JACKPOT PARTY Casino and GOLD FISH Casino.
BLDR
2nd
Builders FirstSource
$7.05Bn
65.50
-5.80%
-41.29%
Through its Paradigm subsidiary, the company sells software products providing drafting, estimating, quoting, and virtual home design services specifically for the homebuilding and construction vertical.
ZG
Zillow
$7.04Bn
31.21
-9.40%
-55.50%
Zillow operates an online residential real estate marketplace providing listing and property data, home valuation models (Zestimate), and transaction management tools. Its revenue is driven by advertising sales to real estate professionals and rental marketplace services for landlords and property managers.
SANM
Sanmina
$6.97Bn
129.96
-9.61%
-26.89%
Sanmina is explicitly described as a leading provider in the electronics manufacturing services (EMS) industry, providing printed circuit board assembly, high-level assembly, and test for OEMs. Its Integrated Manufacturing Solutions segment, which contributes roughly 80% of revenue, focuses on these core assembly and fulfillment activities for other brands.
RAL
Ralliant
$6.95Bn
62.72
-12.48%
+41.26%
Ralliant's Test and Measurement segment generates revenue from the sale of precision instruments including oscilloscopes, probes, source measuring units, and semiconductor test systems. These products are sold to engineers, scientists, and technicians for the purpose of measurement and analysis.
QLYS
Qualys
$6.92Bn
199.63
-5.34%
+36.61%
Qualys provides a cloud-based platform for cybersecurity, specifically focusing on vulnerability management, cyber risk quantification, and remediation. Its products are designed to protect endpoints, cloud containers, and mobile environments from attack, placing it squarely in the cybersecurity software category.
G
2nd
Genpact
$6.91Bn
41.11
+0.81%
+5.90%
The company provides 'Technology Services' and 'Advanced Technology Solutions' including Data and AI, as well as digital transformation engagements and systems integration for its clients.
TTAN
ServiceTitan
$6.89Bn
82.21
-6.32%
-10.44%
ServiceTitan provides a purpose-built software platform specifically for tradespeople such as plumbers, roofers, and HVAC technicians to manage field service, estimating, and job costing. The product embeds industry-specific workflows for the built environment and construction trades, making it a vertical software solution for this sector.
LYFT
Lyft
$6.75Bn
17.84
-4.80%
-11.16%
Lyft operates a mobility platform that matches riders with drivers for on-demand rideshare, taxi, and chauffeur services, earning revenue from service fees and commissions. The company's core activity is facilitating transportation by matching supply and demand in real time via its mobile application.
ZETA
Zeta Global Holdings
$6.68Bn
29.47
-7.27%
+47.79%
Zeta Global provides the Zeta Marketing Platform, which includes marketing automation, an Email Service Provider, and a CDP+ customer data platform. These tools are sold to enterprise marketing organizations to execute omnichannel engagement across email, social media, and web.
FOUR
Shift4 Payments
$6.64Bn
42.81
-4.38%
-36.26%
Shift4's primary revenue is generated through processing fees charged as a percentage of transaction volume for its omni-channel card acceptance and processing solutions. The company provides merchant acquiring services and a proprietary gateway for credit, debit, and mobile wallet payments.
NAVN
Navan
$6.61Bn
25.42
-6.06%
+43.62%
Navan provides an expense management platform that automates the capture, categorization, and reporting of business spending, including month-end reconciliation. Its products, such as Navan Connect and the core expense segment, are used by finance teams to manage a company's own financial records and spend visibility.
EXLS
ExlService Holdings
$6.59Bn
43.61
+1.14%
+10.49%
ExlService primarily sells technology labor and expertise as a service, providing custom AI model development, data modernization, and technology-enabled managed services. Its revenue model is based on master services agreements and statements of work for digital transformation and integrated operations across multiple industries.
MSA
2nd
MSA Safety
$6.56Bn
170.24
-4.13%
+6.42%
The company provides the MSA+ ecosystem, which generates recurring revenue through monitoring and data analytics services for its safety equipment.
TTMI
Ttm Technologies
$6.56Bn
62.22
-15.21%
-11.19%
TTm Technologies is a global manufacturer of printed circuit boards (PCBs), substrates, and RF microwave microelectronic assemblies. It provides a 'one stop design engineering and manufacturing solution' to OEMs and EMS providers, which aligns directly with the Electronic Manufacturing Services (EMS) model of providing PCB assembly and system integration.
VIAV
Viavi Solutions
$6.47Bn
26.30
-10.48%
+50.80%
Viavi Solutions sells a broad portfolio of test, monitoring, and assurance instruments and software used to build and optimize telecom and datacom networks. Its Network and Service Enablement segment specifically provides test equipment for wireless, wireline, cloud, and avionics applications to customers like AT&T, Cisco, and Nokia.
CVLT
Commvault Systems
$6.45Bn
157.62
-2.97%
+22.52%
Commvault specializes in cyber resiliency and data protection, specifically offering tools to safeguard data against ransomware and cyber threats. Its 'Cyber Recovery' package includes threat scanning, data validation, and cyber deception capabilities to remediate risks in backup data.
OTEX
Open Text
$6.32Bn
26.12
-1.77%
-31.30%
OpenText's largest revenue contributor (40%) is the Content Cloud, which provides content management, records management, archiving, and collaboration tools for managing unstructured data. These are horizontal productivity and knowledge base tools used by organizations to manage the lifecycle of their information.
M
2nd
Macy's
$6.32Bn
24.18
-5.88%
+16.53%
The company operates Macy's Media Network, a retail media business that sells advertising technology and space to brand partners to advertise on its platforms.
AVT
Avnet
$6.29Bn
76.63
-10.56%
+59.65%
Avnet is a global distributor that purchases electronic components, semiconductors, and computers from manufacturers under franchised agreements and resells them to OEMs and other customers. Its primary revenue model is the resale of other vendors' technology, which is the core definition of Technology Distribution.
RNG
RingCentral
$6.27Bn
74.30
-4.67%
+172.06%
RingCentral's core business is providing cloud-based communications and collaboration solutions, specifically Unified Communications as a Service (UCaaS), video conferencing, and messaging. These services are sold as a communication channel to enterprises and small to medium size businesses.
KTOS
2nd
Kratos Defense & Security Solutions
$6.27Bn
33.39
-7.15%
-56.87%
Kratos designs and builds unmanned aerial drone systems, including tactical drones like Valkyrie, Thanatos, and Apollo, and provides the associated command and control systems.
TAL
2nd
TAL Education
$6.26Bn
10.19
+3.03%
-14.73%
The company develops and sells digital learning platforms, mobile applications, and SaaS technology solutions to institutional customers like schools and other educational service providers.
VICR
2nd
Vicor
$6.23Bn
135.10
-15.07%
+42.39%
Vicor leverages proprietary semiconductor circuitry and packaging to create power conversion modules sold as building blocks to OEMs and ODMs for use in server motherboards and other electronic devices.
SAIC
Science Applications International
$6.17Bn
146.86
-2.39%
+59.25%
The company is described as a 'pure play technology service provider' that generates revenue through systems integration, custom software development, and IT modernization. It sells technology labor and expertise via cost-reimbursement and time-and-materials contracts to the US government.
RDNT
2nd
RadNet
$6.14Bn
78.01
-2.80%
-0.15%
The company's Digital Health segment sells RIS, PACS, and AI-based image analysis tools (such as DeepHealth OS) to hospitals and imaging centers. These products are purpose-built for medical image storage, retrieval, and clinical interpretation workflows.
XMTR
Xometry
$6.12Bn
109.01
-3.97%
+73.94%
Xometry operates a global online manufacturing marketplace that connects buyers with suppliers of custom manufacturing services, earning revenue primarily from fees on marketplace orders. This matches the model of a digital marketplace enabling commerce between buyers and sellers online.
DLB
Dolby Laboratories
$6.11Bn
64.83
-0.32%
-0.90%
Dolby generates 93% of its revenue by licensing technology, brands, and patents, specifically audio codecs like DD+, AC-4, Dolby Atmos, and Dolby Vision, as well as essential patents for standards like HEVC and AVC. This matches the T-05 description of licensing chip architecture IP and collecting royalties on licensed processor architectures and IP blocks.
TTD
Trade Desk
$6.02Bn
12.81
-3.17%
-73.14%
Trade Desk operates a demand-side platform (DSP) that provides the technology infrastructure for buying, targeting, and measuring digital advertising. Its revenue is primarily derived from platform fees based on a percentage of client spend by advertising agencies and brands.
WEX
Wex
$5.98Bn
179.68
-0.17%
+20.96%
WEX operates a global commerce platform that processes hundreds of billions of dollars in transactions, earning revenue from transaction processing fees in its Mobility segment and net interchange on open loop virtual card transactions in its Corporate Payments segment.
ACIW
Aci Worldwide
$5.98Bn
59.52
+0.56%
+23.38%
Aci Worldwide provides software for the authentication, authorization, switching, settlement, and reconciliation of digital payments for banks, merchants, and billers. Its core products, such as the ACI Payments Orchestration Platform, are designed specifically to move money at the point of sale and across payment rails.
BOX
Box
$5.98Bn
43.57
-1.09%
+38.89%
Box provides a cloud-based Intelligent Content Management platform used for storing content, collaboration, and file sharing. The profile specifically mentions its competition with Microsoft OneDrive, Google Drive, and Dropbox in the file sync and share arena, which are core productivity and collaboration tools.
KVYO
Klaviyo
$5.94Bn
20.82
-2.53%
-22.54%
Klaviyo provides a marketing automation platform that enables personalized marketing across email, text messaging, WhatsApp, and push notifications. Its revenue is driven by subscriptions based on the volume of messages sent and the number of active consumer profiles, which is the core model for marketing software.
PATH
UiPath
$5.94Bn
13.01
-3.70%
-10.58%
UiPath provides a robotic process automation (RPA) and business process automation platform that allows non-technical business users to automate workflows using low-code tools and drag-and-drop interfaces. The company's core revenue comes from subscriptions to its Automation Cloud and perpetual licenses for software that orchestrates enterprise processes.
DOCS
Doximity
$5.92Bn
33.18
-4.27%
-48.15%
Doximity provides a technology platform purpose-built for healthcare professionals, featuring HIPAA-compliant communication tools, on-call scheduling via AMiON, and AI-powered clinical tools like Doximity GPT. These products are designed specifically for clinical workflows and healthcare regulations, serving hospitals and health systems.
NIQ
NIQ Global Intelligence
$5.88Bn
19.92
-1.63%
+65.45%
NIQ provides a cloud-based AI powered technology platform that delivers granular, store-level analytics and omnichannel insights to brands and retailers. Its Intelligence and Activation segments generate revenue from subscriptions for measuring market share, tracking sales volume, and providing predictive insights and custom reports.
NICE
Nice
$5.80Bn
96.00
-3.60%
-25.78%
The company's primary business is its CXone AI platform, which orchestrates voice, digital, and self-service interactions for contact centers. It competes directly in the contact center as a service (CCaaS) market against rivals like Five9 and Genesys.
INGM
Ingram Micro Holding
$5.76Bn
24.45
-6.36%
+10.28%
Ingram Micro is a global IT distributor that resells hardware, software, and cloud solutions from approximately 1,500 vendor partners, including Apple, HP, and Microsoft, to a network of 165,000 reseller customers. Its primary revenue is generated from the distribution of these third-party products rather than designing its own branded technology.
HAE
2nd
Haemonetics
$5.64Bn
124.07
-2.63%
+144.62%
Haemonetics sells donor management software and supporting software solutions specifically designed for the workflows and operational needs of plasma collection centers.
FORM
Formfactor
$5.63Bn
71.76
-15.81%
+29.62%
FormFactor designs and manufactures electronic test and measurement instrumentation, specifically probe cards, probe stations, and cryogenic systems. These products are sold to semiconductor companies and research institutions to provide critical electrical and optical information from integrated circuits.
HUT
Hut 8
$5.62Bn
45.92
-6.17%
-2.30%
The company operates a Compute segment that generates revenue from Bitcoin mining rewards earned by American Bitcoin. This activity involves operating large fleets of ASIC compute assets to validate blockchain transactions.
VRNS
Varonis Systems
$5.62Bn
48.73
-0.14%
+39.23%
Varonis provides a data security platform designed to protect enterprise data across cloud, SaaS, and on-premises environments. Its core products focus on detecting threats, flagging anomalous behavior indicative of ransomware or insider threats, and reducing the attack surface through automated response.
VEON
2nd
Veon
$5.57Bn
75.34
-4.64%
+62.86%
VEON operates streaming entertainment platforms and digital content services, specifically mentioning products like Tamasha and Kyivstar TV.
WAY
Waystar Holding
$5.55Bn
28.88
-2.73%
-21.41%
Waystar provides software purpose-built for healthcare organizations to manage revenue cycle operations, including eligibility checks, prior authorizations, and claims submission. The platform is designed specifically for healthcare providers, payers, and patients, embedding industry-specific workflows for reimbursement and billing accuracy.
RIOT
Riot Platforms
$5.54Bn
14.76
-3.97%
-22.19%
The company is principally engaged in Bitcoin Mining, generating primary revenue from the sale of bitcoin mined through the acquisition and deployment of specialized mining hardware at large-scale facilities in Texas and Kentucky.
CRUS
Cirrus Logic
$5.50Bn
110.23
-5.06%
-7.70%
Cirrus Logic designs mixed-signal integrated circuits, including amplifiers, codecs, and power management ICs, and operates under a fabless model by using third-party foundries like TSMC and GlobalFoundries for wafer fabrication.
PEGA
Pegasystems
$5.49Bn
33.57
-2.30%
-43.67%
Pegasystems provides a core platform for business process automation, including low-code application development platforms and robotic process automation (RPA). Its Pega Platform is specifically designed to help organizations automate workflows and streamline mission-critical business processes.
NPO
2nd
Enpro
$5.45Bn
257.23
-7.34%
+13.08%
Through its Advanced Surface Technologies segment, specifically LeanTeq and Technetics Semi, the company provides cleaning, coating, refurbishment, and wafer processing sub-systems for semiconductor equipment manufacturers like Applied Materials and ASML.
VNT
2nd
Vontier
$5.34Bn
39.86
+6.07%
+4.54%
The company sells point of sale and payment solutions, convenience retail operating platforms, and workflow automation software specifically tailored for convenience store and retail fueling operators.
PSN
2nd
Parsons
$5.31Bn
50.35
-3.91%
-39.27%
The company is a leading federal systems integrator, providing integrated solutions that combine software, hardware, and engineering expertise for government agencies including NASA and the Department of Energy.
SIMO
Silicon Motion Technology
$5.24Bn
156.27
-14.38%
+58.23%
Silicon Motion designs and markets NAND flash controllers, including SSD, eMMC, and UFS controllers, without owning its own fabrication plants. Its revenue is primarily derived from selling these designed integrated circuits to NAND flash manufacturers, module makers, and OEMs.
MMYT
MakeMyTrip
$5.23Bn
51.28
+1.04%
-35.87%
MakeMyTrip operates as a digital marketplace connecting buyers (travelers) with sellers (airlines, hotels, bus operators) and earns revenue through commissions and service fees on bookings. Its core business model is enabling commerce between third-party travel suppliers and consumers via its platforms.
SEZL
Sezzle
$5.22Bn
155.00
+13.40%
+133.96%
Sezzle operates a digital shopping and payments platform that provides point-of-sale credit via its Sezzle Platform, earning revenue through merchant processing fees based on a percentage of gross merchandise volume. Its core business is moving money at the point of sale through its pay-in-four and other installment products.
AMTM
2nd
Amentum Holdings
$5.21Bn
21.32
-3.96%
-4.14%
Through its Digital Solutions segment, Amentum provides next-generation information technology, software engineering services, and digital transformation initiatives to federal and commercial clients.
BRZE
Braze
$5.20Bn
45.81
-0.63%
+63.14%
Braze sells a customer engagement platform used by marketers to execute cross-channel orchestration, email, SMS, and push notifications. Its revenue is derived from subscriptions tied to the volume of messages sent and monthly active users, which aligns with the marketing software model.
GLXY
2nd
Galaxy Digital
$5.07Bn
12.97
-7.16%
-58.75%
The company is developing the Helios campus, a hyperscale data center facility, and earns lease income from long-term agreements with cloud hyperscalers like CoreWeave.
WULF
Terawulf
$5.03Bn
10.08
-13.85%
-34.38%
TeraWulf owns and operates physical data center campuses, such as Lake Mariner and Abernathy, providing liquid-cooled high-density compute infrastructure for hyperscale and enterprise tenants. It generates revenue through long-term hosting arrangements and data center leases for high-performance computing (HPC) workloads.
PLXS
Plexus
$5.01Bn
187.73
-9.19%
+29.04%
Plexus is a contract manufacturer that provides design, manufacturing, and supply chain services for other brands, specifically focusing on low-volume, high-mix electronic products. The profile explicitly states it does not manufacture its own proprietary products but acts as a contract partner for customers in the Aerospace, Defense, Healthcare, and Industrial sectors.
ALGM
Allegro Microsystems
$5.00Bn
26.80
-14.24%
-2.30%
Allegro Microsystems is a fabless designer and marketer of sensor integrated circuits and application-specific power integrated circuits. It sells these designed chips, such as Hall effect and tunnel magnetoresistance sensors, to automotive and industrial OEMs.
PI
Impinj
$4.97Bn
161.02
-10.69%
-10.65%
Impinj designs and sells silicon radios and integrated circuits, specifically endpoint ICs (M730, M750, M830, M850 series) and reader ICs, using a fabless model with TSMC for wafer fabrication.
DAO
Youdao
$4.95Bn
20.24
-2.27%
+92.76%
Youdao provides online learning services, tuition-based courses like Youdao Lingshi and China University MOOC, and language practice tools for learners of all ages. Its revenue model includes tuition fees for online courses and subscription fees for dictionary and AI-based learning tools.
BB
Blackberry
$4.92Bn
8.38
-4.45%
+76.42%
BlackBerry's QNX division develops real-time operating systems, hypervisors, and software development platforms specifically for embedded systems in automotive, medical devices, and robotics. These products are tightly coupled to specialized hardware and are embedded in over 275 million vehicles.
SNNRF
2nd
Sunrise Communications AG
$4.89Bn
51.31
+2.13%
-11.06%
Sunrise provides managed IT services and tailored ICT solutions to its Business Customers segment to help them optimize digital operations.
MNDY
Monday.Com
$4.80Bn
93.84
-3.06%
-51.18%
The company's core product is a 'Work OS' platform used for general-purpose workplace productivity, project tracking, and team collaboration. It provides horizontal tools like boards, timelines, and dashboards that teams across various industries use to manage everyday work.
DOX
Amdocs
$4.75Bn
43.83
+0.39%
-47.80%
Amdocs provides software and services for communications and media companies to automate network operations and manage 5G and fiber rollouts. Specifically, it sells the Amdocs Intelligent Networking Suite and provides network operations services to telecommunications and cable operators.
BILL
BILL Holdings
$4.69Bn
50.89
-1.89%
+9.39%
BILL Holdings provides a financial operations platform for SMBs to manage payables, receivables, and spend and expense activities. The platform specifically enables businesses to create and process invoices and synchronize this financial data with their accounting systems.
FIGR
2nd
Figure Technology Solutions
$4.67Bn
20.90
-9.21%
-45.98%
Figure sells its proprietary Loan Origination System and Figure Connect to financial institution partners, earning ecosystem and technology fees for providing the software platform used to originate loans.
QTWO
Q2 Holdings
$4.67Bn
75.64
+1.56%
+23.76%
Q2 provides a unified cloud-based digital banking platform that enables financial institutions and FinTechs to deliver banking services to retail, SMB, and commercial customers. Its core revenue comes from subscriptions for this digital banking platform and its Helix banking-as-a-service platform.
VSNT
2nd
Versant Media
$4.65Bn
34.00
+0.06%
—
Versant operates digital marketplaces such as Fandango for movie ticketing and GolfNow for tee time bookings, earning transaction-based fees from connecting consumers with service providers.
SYNA
Synaptics
$4.62Bn
116.40
-0.93%
+65.88%
Synaptics operates a fabless semiconductor model, designing custom silicon including the Astra AI processors and Veros wireless portfolio. It generates revenue primarily through the sale of these designed semiconductor solutions to OEMs.
TENB
Tenable Holdings
$4.62Bn
44.16
-6.72%
+59.65%
Tenable provides exposure management and vulnerability management solutions designed to identify and reduce cybersecurity risks across IT infrastructure and cloud environments. Its core products, such as Nessus and Tenable Security Center, are used to protect organizations from attacks by managing their attack surfaces.
NNI
2nd
Nelnet
$4.55Bn
126.89
-0.56%
-2.40%
The FACTS division provides tuition management, financial needs assessment, and financial management software specifically for nearly 12,000 K12 schools, embedding education-specific financial workflows.
GDS
GDS Holdings
$4.54Bn
21.98
-5.95%
-35.67%
GDS Holdings designs, builds, and operates high-performance data centers, providing colocation and managed services. Its revenue is generated from leasing net floor area and power capacity to hyperscale cloud providers and large internet companies.
GCT
2nd
GigaCloud Technology
$4.53Bn
63.01
+8.86%
+130.13%
The company operates the GigaCloud Marketplace, a B2B platform that connects manufacturers in Asia with resellers in the US, Europe, and Japan, earning service revenues from platform commissions and fees.
CCC
CCC Intelligent Solutions Holdings
$4.53Bn
7.67
-0.26%
-2.17%
CCC provides a SaaS and AI platform specifically for the insurance economy, offering products for claims workflow, total loss, subrogation, and casualty solutions. These products are purpose-built for the insurance industry's specific workflows and regulations, serving over 300 insurers including top U.S. auto and disability carriers.
HTFL
2nd
Heartflow
$4.50Bn
51.95
-8.17%
+49.67%
The company operates a scalable cloud-based platform that integrates into physician workflows and utilizes a proprietary database of 110 million annotated CCTA images. This technology platform is purpose-built for cardiovascular clinical workflows and medical data standards.
IRDM
2nd
Iridium Communications
$4.46Bn
42.02
-4.09%
+133.83%
The company derives income from the sale of satellite handsets, modems, and related equipment to distribution partners and end users.
BWIN
2nd
Baldwin Insurance
$4.46Bn
31.97
-0.53%
+26.26%
The company operates the MSI platform, which manufactures and distributes proprietary technology-enabled insurance solutions to internal risk advisors and external distribution partners.
NSIT
Insight Enterprises
$4.43Bn
152.72
-13.04%
+60.79%
Insight Enterprises primarily operates as a solutions integrator and value-added reseller, with product sales of hardware and software accounting for approximately 79% of its 2025 net sales. The company explicitly states that it purchases and resells products from over 6,000 technology partners, including major manufacturers like Microsoft, Dell, Cisco, HP, and Lenovo.
SRAD
Sportradar Group AG
$4.42Bn
14.17
-2.21%
-39.39%
Sportradar's core business is the collection, processing, and distribution of sports data and odds feeds to B2B customers. It provides the foundational data layer (pre-match and live odds feeds) that betting operators and media companies use to power their own applications.
MLMC
FrankSpeech Network
$4.41Bn
0.75
+0.00%
-54.55%
FrankSpeech Network operates an online movie channel and a 24-hour streaming internet TV station. Its revenue model is based on subscriptions for premium access, pay-per-view video on demand, and advertising income from free streaming content.
WK
Workiva
$4.37Bn
85.42
+0.09%
+4.03%
Workiva provides a platform for governance, risk, and compliance (GRC), specifically delivering capabilities for internal audit, internal controls, and risk management to help organizations meet obligations like SOX. Its core value proposition centers on trust, transparency, and accountability through regulatory and statutory reporting.
ITRI
2nd
Itron
$4.36Bn
99.46
-2.11%
-7.18%
Itron sells supply chain and infrastructure software for the utility vertical, including distributed energy resource management (DERMS) and AMI operations software used to plan and execute the movement of resources.
OPLN
Openlane
$4.34Bn
35.62
-2.94%
+36.68%
Openlane operates digital marketplaces in the US, Canada, and Europe that connect automotive manufacturers, dealers, and fleet operators to facilitate wholesale used vehicle transactions. The company generates revenue through buy and sell fees charged to these participants for enabling commerce between buyers and sellers online.
ARX
2nd
Accelerant Holdings
$4.31Bn
19.88
+0.15%
+61.49%
The company operates a data-driven risk exchange and proprietary technology platform that provides high-fidelity data and analytics to reduce information asymmetry in the underwriting process.
AAOI
Applied Optoelectronics
$4.26Bn
46.89
-20.89%
+48.81%
The company designs and manufactures fiber-optic networking products, including optical transceivers, transmitters, and nodes, used to move data packets across data centers, CATV, and telecom networks. Its primary revenue comes from selling this networking hardware to hyperscale data center operators like Microsoft and Oracle, as well as CATV MSOs.
MBLY
Mobileye Global
$4.23Bn
5.13
-3.93%
-60.20%
Mobileye develops the software stack for autonomous vehicles, including perception and planning platforms like Responsibility Sensitive Safety and SuperVision. Its core business is enabling vehicles to navigate autonomously for automotive OEMs and robotaxi fleet operators.
WIX
Wix.com
$4.22Bn
76.69
-4.76%
-45.03%
Wix operates as an ICANN-accredited registrar and provides domain hosting services as a core part of its platform. Its revenue model includes standalone domain registration fees and hosting subscriptions that put user sites on the internet.
PAY
Paymentus Holdings
$4.21Bn
33.42
-0.21%
-5.78%
Paymentus provides a cloud-based bill payment technology platform and generates revenue primarily from transaction fees on payments processed for billers and financial institutions. Its core business is moving money at the point of payment across an omni-channel infrastructure including web, mobile, and API integrations.
CAMT
Camtek
$4.21Bn
91.92
-9.40%
-25.72%
Camtek develops and manufactures high-end inspection and metrology equipment, such as the Eagle, Hawk, and MicroProf families, used in semiconductor fabrication. These systems are capital equipment used by semiconductor manufacturers to inspect integrated circuit features and measure wafer characteristics.
APLD
Applied Digital
$4.21Bn
14.17
-14.69%
-57.18%
Applied Digital owns and operates physical data center facilities, providing energized infrastructure and rack space to third-party customers. Its revenue is derived from hosting services for crypto mining and high-performance computing (HPC) workloads, specifically leasing power-dense space in facilities like those in Ellendale and Jamestown, North Dakota.
JOYY
Joyy
$4.21Bn
80.00
-1.49%
+34.18%
The company's core business and largest revenue driver (72% from virtual tips) is its portfolio of social entertainment platforms, including Bigo Live, imo, Likee, and Hago, which connect a global user base of 272.1 million monthly active users.
AIR
2nd
Aar
$4.20Bn
104.45
-3.82%
+24.94%
Through its Trax product, AAR provides a cloud-based electronic enterprise resource platform (ERP) specifically for the MRO industry, which automates workflows and manages core enterprise operations.
PL
Planet Labs PBC
$4.13Bn
11.36
-10.20%
-14.26%
Planet Labs sells AI-ready data products that apply computer vision and machine learning to detect changes on the planet's surface. Its core revenue comes from subscriptions to a cloud-native platform providing data feeds and analytics tools for interpreting imagery.
LUMN
2nd
Lumen Technologies
$4.10Bn
3.98
-10.96%
-63.35%
The company sells managed security services and cybersecurity offerings as part of its Business segment's 'Grow' category.
MXL
Maxlinear
$4.03Bn
44.31
-22.06%
+192.09%
MaxLinear is explicitly described as a fabless integrated circuit design company that designs communications systems-on-chip (SoCs). It generates revenue by selling these designed chips, such as 4G/5G base-station transceivers and broadband modems, to OEMs and ODMs without owning its own fabrication plants.
AMPL
Amplitude
$4.02Bn
16.10
-6.34%
+67.01%
Amplitude provides an AI-powered analytics platform that analyzes behavioral data to deliver real-time actionable insights and dashboards. Its core value proposition is turning user interaction events stored in its proprietary Behavioral Graph into insights for business decision-makers to improve engagement and retention.
CDNA
2nd
CareDx
$4.00Bn
76.33
-11.10%
+361.77%
CareDx sells healthcare-specific software platforms such as Ottr Organ, Ottr Cellular, and XynQAPI, which are designed for transplant waitlist management, care coordination, and quality reporting within transplant centers.
FA
First Advantage
$3.98Bn
23.13
+2.94%
+78.89%
First Advantage provides identity solutions, including identity verification, criminal background screening, and digital biometric identity verification. Its core product is managing and verifying digital and legal identities for employers to manage risk across the employee lifecycle.
MOB
2nd
Mobilicom
$3.96Bn
2.37
-20.74%
-65.55%
The company designs and builds unmanned aerial vehicles (drones) hardware and software, including handheld controllers (mini-Controller PRO) and drone-specific cloud management software (CONTROLiT).
DLO
dLocal
$3.96Bn
13.42
-3.45%
-5.29%
dLocal provides payment infrastructure and a unified API for merchants to process cross-border and local transactions. Its revenue is primarily generated from processing fees, foreign exchange service fees, and installment fees charged per transaction.
MGNI
Magnite
$3.95Bn
27.52
+20.75%
+60.94%
Magnite operates a sell-side advertising platform (SSP) and programmatic CTV marketplace that provides the technology infrastructure for buying and selling digital advertising inventory. Its revenue is derived from fees tied to advertising spend, CPMs per impression, and platform fees for facilitating automated transactions between publishers and advertisers.
OLED
Universal Display Corp Pa
$3.95Bn
87.13
-2.72%
-40.63%
Universal Display Corporation develops and sells proprietary OLED emitter and host materials, such as UniversalPHOLED, which are consumables used by device manufacturers in the production of OLED displays and lighting. This matches the description of supplying materials and consumables consumed in the fabrication of electronic components.
GPGI
2nd
Gpgi
$3.93Bn
13.56
+5.85%
-38.59%
CompoSecure offers the Arculus platform, which provides three-factor authentication, high-value transaction authorization, and digital asset security, matching the description of managing digital identity and access.
KFY
2nd
Korn Ferry
$3.93Bn
77.31
-0.97%
+16.48%
Korn Ferry sells the Korn Ferry Talent Suite, a proprietary digital platform providing assessment tools and compensation benchmarks via subscription and license models, generating $363.5 million in revenue.
APPN
Appian
$3.86Bn
54.03
+8.45%
+84.21%
Appian provides a process automation platform that enables organizations to design, automate, and optimize critical business processes. Its core offering is a low-code platform used by enterprises and governments to build internal tools and automate workflows.
ENPH
2nd
Enphase Energy
$3.83Bn
28.97
-8.18%
-10.03%
The company offers the Solargraf design and proposal platform, which is software specifically for the planning and design of solar installations for contractors and installers.
NP
2nd
Neptune Insurance Holdings
$3.83Bn
27.91
-2.24%
+8.98%
The company's core differentiator is its technology-first approach, specifically its AI underwriting engine 'Triton' and policy management system 'Poseidon'. These proprietary machine learning models enable risk-based pricing and instant digital quoting, transforming traditional insurance workflows.
LIF
Life360
$3.81Bn
46.87
-2.46%
-50.89%
Life360 operates a technology platform providing AI-driven safety capabilities such as advanced crash detection and location-based insights. It sells these capabilities as a standalone subscription service to millions of users via its mobile application.
BDC
2nd
Belden
$3.77Bn
96.39
-8.35%
-19.86%
The company provides networking hardware and software-defined networking capabilities, including matrix switching systems and rugged network infrastructure for industrial Ethernet and 5G applications. These products move data packets across enterprise and industrial networks.
PAGS
2nd
PagSeguro Digital
$3.75Bn
7.64
-3.17%
-20.66%
The company is a major payment processor in Brazil, earning significant revenue from merchant discount rates on card transactions and providing POS systems for in-person payments.
ACVA
ACV Auctions
$3.68Bn
10.50
-0.10%
+21.11%
ACV Auctions operates a digital marketplace that connects wholesale buyers and sellers of used vehicles, generating revenue primarily from transaction fees on this platform. The company facilitates commerce between dealers, fleet operators, and financial institutions, which is the core definition of a digital marketplace.
CORZ
Core Scientific
$3.66Bn
11.38
-10.82%
-47.80%
Core Scientific owns and operates physical data center facilities providing high-density colocation services, power, and cooling for AI, HPC, and digital asset mining customers. Its revenue is derived from leasing customer power capacity and providing the physical infrastructure required for these power-intensive workloads.
MMS
2nd
Maximus
$3.62Bn
69.23
+0.98%
-17.64%
The company provides technology modernization projects, system implementation, and managed IT services, including cloud infrastructure and AI-driven analytics, to federal and state government agencies.
KD
Kyndryl Holdings
$3.53Bn
16.19
-3.80%
-38.06%
Kyndryl is the world's largest IT infrastructure services provider, generating revenue through advisory, implementation, and managed services. It sells technology labor and expertise to design, build, and manage complex information systems for thousands of enterprise customers.
NATL
NCR Atleos
$3.47Bn
47.00
-0.84%
+24.27%
NCR Atleos provides the core infrastructure for moving money at the point of service through ATMs and interactive teller machines. It generates significant revenue from transaction-based fees, including surcharge charges paid by cardholders and interchange fees paid by financial institutions.
AVPT
AvePoint
$3.45Bn
16.42
-2.84%
+14.99%
AvePoint provides an IT operations platform focused on data protection, resilience, and operationalizing data at scale. Its products serve IT operations and development operations teams to manage data across cloud ecosystems, specifically addressing business continuity and digital sprawl.
CXT
2nd
Crane NXT
$3.41Bn
59.28
-4.03%
-7.66%
The company develops and sells image recognition software built on advanced algorithms to authenticate products, providing computer vision capabilities as a core part of its security and authentication portfolio.
INTA
Intapp
$3.38Bn
44.12
-2.11%
+12.09%
Intapp provides a core client relationship management platform, specifically through its DealCloud module, designed for professional services firms to manage relationships and drive growth.
AGYS
Agilysys
$3.38Bn
119.76
-2.35%
-5.08%
Agilysys provides software solutions specifically for hospitality venues, including point of sale, property management, and inventory systems for hotels, resorts, casinos, and restaurants. Its customer base consists of entities like Caesars Entertainment, MGM, and various hotel and restaurant groups.
QBTS
D-Wave Quantum
$3.37Bn
9.05
-12.98%
-70.83%
D-Wave Quantum develops and sells quantum computing hardware (superconducting annealing and gate model systems) and provides cloud access to these systems via its Leap quantum cloud service. The company's core business is defined by its proprietary superconducting quantum processors and quantum computing as a service (QCaaS).
FRSH
Freshworks
$3.32Bn
12.70
-4.22%
+14.83%
Freshworks provides a comprehensive suite of customer experience (CX) tools, specifically Freshsales for sales CRM and Freshdesk for ticketing and case management. These products are designed to manage the sales relationship, customer support, and the revenue pipeline for its clients.
ALRM
Alarm.com Holdings
$3.28Bn
67.03
-1.37%
+40.55%
Alarm.com provides a cloud-based platform for security, video surveillance, and active shooter detection. Its core revenue comes from SaaS and license fees for these security services delivered to residential and commercial property owners via service provider partners.
RGTI
Rigetti Computing
$3.26Bn
9.78
-12.76%
-73.77%
Rigetti designs and builds quantum computers based on superconducting qubits and sells access to these systems via its Rigetti Quantum Cloud Services platform. The company's core business is the development of quantum processing units (QPUs) and the software stack required to operate them.
TLX
2nd
Telix Pharmaceuticals
$3.19Bn
9.42
-2.59%
-8.45%
The MedTech segment develops AI-powered imaging tools and digital platforms specifically designed to support treatment planning and patient selection within healthcare workflows.
ARLP
2nd
Alliance Resource Partners
$3.17Bn
24.65
-2.10%
-0.36%
Through its investment in Bitiki, the company mines bitcoin and hosts third-party crypto-miners for a fee.
DAVE
Dave
$3.16Bn
275.34
-18.11%
+13.09%
Dave operates as a neobank providing a mobile-first financial services platform, including checking accounts and financial management tools. Its competitive advantage is its technology-first, software-native model, which differentiates it from traditional banks like Bank of America and JPMorgan Chase.
LRN
2nd
Stride
$3.14Bn
74.80
-5.58%
+4.03%
The company operates a comprehensive digital platform and learning management systems used to deliver its curriculum and instructional services. It sells these technology systems as part of its 'school-as-a-service' model and as stand-alone educational products.
LOPE
2nd
Grand Canyon Education
$3.14Bn
122.17
-18.92%
-31.47%
The company develops and provides proprietary education technology platforms, specifically the Halo learning management system and Mosaic AI tools, which are purpose-built for the higher education vertical.
KLIC
Kulicke & Soffa Industries
$3.13Bn
59.83
-12.58%
+51.47%
Kulicke & Soffa designs and manufactures capital equipment used in semiconductor assembly, specifically ball bonders, wedge bonders, and wafer level bonding equipment. These are high-value tools sold to integrated device manufacturers and OSAT providers for the fabrication and assembly of semiconductor devices.
DIOD
Diodes
$3.12Bn
68.36
-13.97%
+30.48%
Diodes Incorporated operates a hybrid manufacturing model that includes internal wafer fabrication facilities. The company designs and manufactures its own semiconductor products, including analog, power, and logic devices, making it an integrated device manufacturer.
BLSH
Bullish
$3.12Bn
20.70
-10.43%
-57.16%
Bullish operates the Bullish Exchange, a platform for trading digital assets and cryptocurrencies, and provides blockchain-related data and indices. Its core business model revolves around building the rails and tools for the digital asset ecosystem, including trading fees and API subscriptions for market data.
VSH
Vishay Intertechnology
$3.11Bn
22.02
-14.78%
+43.73%
Vishay manufactures a vast portfolio of discrete electronic components, including resistors, inductors, and capacitors, which are sold as building blocks to OEMs and EMS providers. These products, such as wire wound power shunts and tantalum capacitors, fit the definition of discrete components and sensor modules sold to other device makers.
CLBT
Cellebrite DI
$3.09Bn
12.38
-0.40%
-22.87%
Cellebrite provides digital investigative and intelligence software used for malware analysis, cyber operations, and extracting data from encrypted devices. Its products are used by law enforcement and intelligence agencies to combat cybercrime and counter-terrorism, fitting the description of cybersecurity and threat intelligence software.
TNET
2nd
Trinet
$3.08Bn
67.24
+0.66%
+15.63%
The company provides an ASO (Administrative Services Only) segment that delivers a software-as-a-service platform for payroll processing, benefits management, and compliance support, which are core HR software functions.
VIA
Via Transportation
$3.07Bn
37.71
-3.78%
-28.40%
Via provides a software platform for planning, scheduling, and operations management specifically for public transportation systems, which falls under the movement of goods and people. Its revenue is generated through subscriptions for this cloud-based platform used by municipal transit agencies and regional authorities to optimize routes and manage fleets.
PRVA
2nd
Privia Health
$3.06Bn
23.94
+6.88%
-4.32%
The company develops and operates the Privia Platform, a proprietary healthcare IT solution that integrates data analytics, revenue cycle management, and payer alignment tools specifically designed for clinical workflows and healthcare regulations.
TDC
Teradata
$3.04Bn
32.70
-5.63%
+19.08%
Teradata provides a data and analytics platform that manages massive data volumes and complex data estates, specifically offering tools like ClearScape Analytics and QueryGrid. Its core product is a foundational data layer for enterprises to store, manage, and transform data for AI and analytics workloads.
GENI
Genius Sports
$2.99Bn
5.91
-15.81%
-46.32%
Genius Sports' core business is providing live sports data feeds, data capture, and analytics solutions to leagues and sportsbooks. Its revenue is driven by the delivery of real-time data and the proprietary GeniusIQ platform, which functions as data infrastructure for the sports betting and media ecosystems.
KYIV
2nd
Kyivstar
$2.99Bn
12.96
-4.85%
-3.28%
The company operates Uklon, a ride-hailing platform that matches consumers with drivers for transportation and delivery services.
ARCB
2nd
Arcbest
$2.95Bn
133.57
-4.11%
+88.76%
ArcBest sells standalone technology-based solutions, including custom-built software and analytics platforms, to customers seeking supply chain visibility and optimization.
SPSC
Sps Commerce
$2.94Bn
82.65
-3.04%
+1.77%
Sps Commerce provides cloud-based supply chain management solutions specifically for the movement of goods, including electronic data interchange (EDI) for purchase orders, invoices, and shipping notices. Its products, such as the Sps Commerce Fulfillment suite, are purpose-built for the logistics and supply chain vertical, serving retailers, suppliers, and logistics partners.
EQPT
2nd
EquipmentShare.com
$2.94Bn
13.67
-9.35%
—
The company sells subscription services and data analytics via its proprietary T3 technology platform, which is purpose-built for the construction industry to connect assets, materials, and people on jobsites.
VERX
Vertex
$2.84Bn
17.59
+10.49%
-12.40%
Vertex provides enterprise compliance technology specifically designed to automate and manage transaction-based tax obligations, including sales tax, use tax, and VAT. Its core product is a cloud-based compliance platform that ensures businesses meet legal and governance obligations across thousands of taxing jurisdictions.
PPLI
People
$2.84Bn
41.01
-2.33%
+24.24%
IAC operates several digital marketplaces, most notably Care.com, which connects families with caregivers and generates revenue through subscription fees and transaction-based payments. The company's core strategy is building platforms that connect consumers with services and opportunities across multiple verticals.
EXTR
Extreme Networks
$2.78Bn
21.05
-7.84%
+19.26%
Extreme Networks designs, develops, and manufactures wired, wireless, and software-defined wide area network (SD-WAN) infrastructure equipment. Its core revenue comes from the sale of this networking hardware and the associated software subscriptions used to move data packets across enterprise networks.
ACLS
Axcelis Technologies
$2.78Bn
90.00
-2.06%
+6.57%
Axcelis Technologies manufactures ion implantation equipment, which is a capital tool used in the fabrication of semiconductor chips. The company generates revenue from the sale of these systems and provides aftermarket support, including spare parts and equipment upgrades, to semiconductor manufacturers.
HURN
2nd
Huron Consulting
$2.77Bn
175.73
+1.57%
+4.87%
The company provides digital capabilities including technology and analytics services, technology-related managed services, and systems integration for EHR, ERP, EPM, and CRM systems.
RSI
2nd
Rush Street Interactive
$2.76Bn
11.90
-3.64%
-28.40%
The company operates a proprietary online gaming platform that enables it to act as a B2B supplier, providing retail sports betting services and technology to land-based partners like casinos and Native American tribes in exchange for commissions.
CARG
CarGurus
$2.73Bn
36.15
-1.01%
+6.14%
CarGurus operates online marketplaces in the US, Canada, and the UK that connect car shoppers with a network of dealers to buy and sell vehicles. Its core business model involves enabling commerce between buyers and sellers online, which is the defining characteristic of a digital marketplace.
PRCH
2nd
Porch
$2.69Bn
20.30
-5.84%
+27.19%
The company sells subscription and transactional software to the property industry, specifically providing Rynoh settlement software for real estate closings and Floify for mortgage professionals.
STGW
2nd
Stagwell
$2.69Bn
10.83
-1.55%
+125.16%
The company sells a comprehensive suite of technology solutions for in-house marketers via 'The Marketing Cloud,' which includes SaaS and DaaS offerings for AI-driven text analysis, predictive analytics, and audience insights.
PTRN
2nd
Pattern
$2.68Bn
17.25
-2.43%
-4.38%
The company provides software as a service (SaaS) tools to its brand partners to help them scale their presence and optimize advertising, pricing, and forecasting on marketplaces.
ATHM
Autohome
$2.64Bn
22.82
+1.47%
-8.06%
Autohome operates digital marketplaces (autohome.com.cn, che168.com) that connect buyers and sellers of new and used vehicles, earning commissions on transactions. This is a core part of its 'Online Marketplace and Other Services' segment.
EEFT
Euronet Worldwide
$2.61Bn
71.15
+0.71%
-2.81%
Euronet operates a vast network of ATMs and POS terminals to facilitate real-time financial transactions and electronic payment processing. It generates significant revenue from transaction-based fees for cash withdrawals, merchant acquiring, and payment processing solutions.
FLYW
Flywire
$2.60Bn
21.26
-2.52%
+51.97%
Flywire operates a payments platform and proprietary global payment network, generating its primary revenue from transaction fees on payment volume processed. It enables clients in education, healthcare, travel, and B2B sectors to receive and manage payments across multiple currencies.
ASAN
Asana
$2.57Bn
11.16
-4.21%
-15.13%
Asana provides a work management platform used for project and process management, goal setting, and strategic planning. Its core product is a horizontal tool for everyday workplace collaboration, capturing tasks and dependencies to help teams get work done.
FIVN
Five9
$2.57Bn
34.14
-6.08%
+50.00%
Five9 provides a cloud-based contact center platform for managing customer interactions across voice, chat, email, and social channels. Its revenue is primarily driven by subscription fees based on licensed agents and usage-based telephony revenue for voice calls.
KN
Knowles
$2.57Bn
30.33
-9.97%
+31.64%
Knowles designs and manufactures discrete electronic components, specifically high-performance capacitors, radio frequency (RF) filters, microphones, and balanced armature speakers. These are sold as building blocks to original equipment manufacturers (OEMs) in the medtech, defense, and industrial sectors.
PGNY
2nd
Progyny
$2.57Bn
34.37
+14.19%
+82.04%
Progyny operates a data-driven platform that integrates benefits design, member education, and claims administration, utilizing proprietary tools like the Smart Cycle to manage clinical workflows and utilization data.
WLY
2nd
John Wiley & Sons
$2.56Bn
50.46
-3.56%
+32.06%
The company provides digital courseware and assessment services for students and instructors, specifically within its Learning segment. These products are sold to college bookstores, universities, and individual learners.
ACMR
ACM Research
$2.54Bn
39.31
-11.52%
+26.24%
ACM Research manufactures capital equipment used in semiconductor fabrication, specifically specialized wet cleaning tools like the Tahoe system and ECP furnaces. Its revenue is derived from the sale and service of these processing tools to foundry, logic, and memory chip makers.
FLY
2nd
Firefly Aerospace
$2.52Bn
15.18
-11.54%
-32.53%
Through its acquisition of SciTec, the company sells standalone software and data processing solutions for missile warning, intelligence, surveillance, reconnaissance, and space domain awareness.
PTON
2nd
Peloton Interactive
$2.52Bn
5.66
+3.66%
-20.62%
The company generates significant recurring revenue through subscription-based Memberships (All-Access, App+, Strength+) that provide access to an extensive library of interactive fitness and wellness content.
BLKB
Blackbaud
$2.52Bn
55.80
-0.46%
-6.34%
Blackbaud's core business centers on donor relationship management and fundraising through products like Raiser's Edge NXT and Blackbaud Enterprise Fundraising CRM. These tools manage the sales-like pipeline of donor engagement and fundraising for nonprofits.
LPL
LG Display
$2.49Bn
2.49
-6.04%
-48.45%
LG Display manufactures and sells display panels (LCD and OLED) which are discrete electronic components sold as building blocks to OEMs and brand owners. These panels are integrated into finished products like televisions, smartphones, and notebooks, matching the description of selling parts to OEMs rather than finished consumer devices.
FSLY
Fastly
$2.48Bn
15.38
-26.87%
+90.58%
Fastly operates a global network of Points of Presence to provide content delivery network (CDN) capabilities, edge compute services, and DDoS mitigation at the network edge. Its revenue is primarily derived from subscription and usage fees for these edge cloud platform offerings.
PAYO
Payoneer Global
$2.44Bn
7.17
+0.14%
+31.08%
Payoneer provides a financial stack for cross-border accounts receivable and payable, including 'Payoneer Checkout' for accepting global payments. Its revenue is primarily generated through transaction fees and service charges associated with payment processing for SMBs.
NCNO
nCino
$2.44Bn
23.21
-0.98%
-7.90%
nCino provides a cloud-based software platform specifically for financial institutions to modernize core banking operations, including account opening and loan origination. Its customers are banks, credit unions, and challenger banks, and its product is a technology-first model for delivering banking services.
KC
Kingsoft Cloud Holdings
$2.44Bn
8.17
+0.86%
-32.54%
Kingsoft Cloud operates a public cloud platform providing on-demand infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS), including elastic computing, cloud storage, and cloud networking. Its revenue is primarily derived from third-party customer payments for these scalable IT infrastructure resources.
AMBA
Ambarella
$2.44Bn
55.17
-9.44%
-36.22%
Ambarella designs low-power system-on-a-chip (SoC) semiconductors, including AI inference SoCs and the proprietary CVflow deep learning neural network processor. The company operates as a fabless designer, selling these chips to original design manufacturers (ODMs) and original equipment manufacturers (OEMs).
AXTI
Axt
$2.41Bn
36.72
-22.76%
+303.52%
AXT produces and sells semiconductor substrates (wafers) made from indium phosphide, gallium arsenide, and germanium, which are consumables consumed in the chip fabrication process. These products, along with the company's raw materials, are sold to manufacturers that apply epitaxial layers to create finished semiconductors.
ONDS
2nd
Ondas
$2.39Bn
4.52
-14.23%
-24.67%
The company designs and builds autonomous aerial platforms, such as the Optimus system for persistent surveillance, and provides the associated command and control software.
STUB
StubHub Holdings
$2.39Bn
6.28
-4.70%
-65.36%
StubHub operates a secondary ticketing marketplace that connects buyers and sellers of tickets for live events. It generates revenue by taking a commission from sellers and charging service fees to buyers for each transaction completed on the platform.
HCI
2nd
Hci
$2.39Bn
191.78
-4.58%
-5.81%
The company's subsidiary, Exzeo, sells a proprietary software platform providing underwriting tools, claims management, and policy administration to both affiliated and unaffiliated insurance carriers.
GRND
Grindr
$2.37Bn
13.64
-2.43%
+3.41%
Grindr operates a global social networking service where the core product is a network of users connecting with each other for dating, friendship, and networking. The company generates revenue through user subscriptions for premium features and advertising from third parties targeting its user base.
CLOV
2nd
Clover Health Investments
$2.37Bn
4.48
-4.48%
+51.35%
Through its Counterpart Health subsidiary, the company sells the Clover Assistant platform as a SaaS offering to external payors and providers. This software is purpose-built for healthcare delivery, specifically for managing chronic diseases and care management for Medicare populations.
DGII
Digi International
$2.37Bn
62.34
-14.11%
+71.88%
Digi International sells enterprise and industrial routers, console servers, and infrastructure management equipment used to move data packets across networks. These products, along with their managed network as a service solutions (Ventus), fit the description of networking hardware and software-defined networking.
DXC
DXC Technology
$2.36Bn
15.17
+2.02%
+9.85%
DXC Technology is a global provider of IT services, generating revenue through information technology consulting, engineering services, and infrastructure services. The profile explicitly mentions delivering software engineering consulting, custom application solutions, and managed IT services to commercial and public sector clients.
STNE
2nd
StoneCo
$2.35Bn
7.49
-2.60%
-60.66%
The company operates as a merchant acquirer, generating significant revenue from transaction fees on card and Pix transactions, as well as providing tap-on-phone and split payment solutions.
RAMP
LiveRamp Holdings
$2.34Bn
38.50
+0.68%
+40.87%
LiveRamp provides a data connectivity platform used by advertisers, brands, and agencies for targeted marketing, measurement, and personalization. Its core services, including data onboarding and identity resolution, are designed to help marketing organizations activate first-party and third-party data for campaign orchestration.
RUM
Rum
$2.33Bn
4.70
-8.02%
-23.95%
Rumble operates a video sharing platform (Rumble.com) and a community support site (Locals.com) where the core product is a network of users and creators connecting with each other. Revenue is generated through advertising, subscriptions, and user tips within this social ecosystem.
BUSE
2nd
First Busey
$2.33Bn
28.67
-2.35%
+24.33%
Through its FirsTech subsidiary, the company sells technology-enabled payment processing solutions, including mobile text-based bill payment and electronic payment routing, to business clients.
CIFR
Cipher Digital
$2.30Bn
5.55
-14.62%
-77.54%
Cipher Digital owns and operates physical data center facilities and leases this capacity to hyperscaler and high performance computing tenants, specifically naming Amazon Web Services and Fluidstack (backed by Google) as customers.
NTCT
Netscout Systems
$2.26Bn
31.83
-16.46%
+16.55%
Netscout provides network performance management tools and application performance monitoring, which are core components of IT operations software. Its products help customers monitor performance and convert network traffic into metadata for visibility, serving the specific buyer (IT operations teams) described in T-37.
MARA
MARA Holdings
$2.25Bn
5.88
-14.41%
-65.67%
The company's primary revenue is generated from Bitcoin mining, operating a fleet of approximately 490,000 mining rigs to earn block subsidies and transaction fees. This activity is the core of its Bitcoin Mining segment and its main operational output.
PENG
Penguin Solutions
$2.24Bn
37.22
-23.02%
+67.66%
The company's largest segment, Advanced Computing, sells high performance computing (HPC) platforms, AI solutions, and fault tolerant systems for data centers and cloud environments under brands like Penguin Computing and Stratus.
OUST
Ouster
$2.23Bn
30.52
-9.00%
+17.97%
Ouster designs and manufactures lidar sensors, such as the OS and DF series, which are sold as electronic component building blocks to OEMs and technology providers. These sensors are used as the primary sensing hardware for autonomous navigation and perception across multiple industries.
UPST
Upstart Holdings
$2.19Bn
22.13
-5.35%
-46.99%
Upstart operates an AI-driven lending marketplace that uses proprietary AI models to underwrite personal, auto, and home equity loans. Its revenue is generated from platform and referral fees paid by lending partners and institutional investors, rather than from holding the loans on its own balance sheet.
GLOB
Globant
$2.17Bn
49.52
+3.08%
-17.74%
Globant is a global technology services provider that generates revenue primarily from time and materials and fixed price contracts for digital transformation and software engineering. It sells technology labor and expertise to help organizations with AI initiatives, serving clients like Google and The Walt Disney Company.
POWI
Power Integrations
$2.17Bn
38.84
-17.01%
-1.89%
Power Integrations designs and markets analog and mixed signal integrated circuits, including gate drivers and motor drivers, using proprietary silicon and gallium nitride technologies. The company operates as a fabless designer selling these chips to OEMs and power supply producers.
MH
2nd
McGraw Hill
$2.15Bn
11.26
-11.89%
+3.30%
The company develops and sells digital learning platforms and adaptive learning tools, such as the Connect solution and ALEKS, specifically for educators and learners in higher education and K-12 institutions.
PLUS
Eplus
$2.14Bn
82.43
-8.89%
+11.29%
The company's Product segment generates revenue by selling third-party hardware, perpetual and subscription software, and maintenance, which is the core activity of a technology distributor or value-added reseller.
BHE
Benchmark Electronics
$2.13Bn
59.38
-9.00%
+27.15%
Benchmark Electronics provides electronic manufacturing services (EMS), including printed circuit board assembly, subsystem and system integration, and complex electromechanical assembly for other brands. It operates as a contract manufacturer for OEMs in markets such as advanced computing, medical, and semiconductor capital equipment.
LIFE
2nd
Ethos Technologies
$2.12Bn
32.62
-12.22%
—
The company develops and operates a proprietary Remote Monitoring Platform that integrates wearable device data, analytics, and reporting for clinicians. This software is purpose-built for healthcare workflows and clinical data visualization.
DV
DoubleVerify Holdings
$2.12Bn
13.55
-0.07%
+21.52%
DoubleVerify provides the technology infrastructure for measuring and verifying digital advertising, specifically focusing on fraud detection, brand suitability, and viewability. Its revenue model is based on a Measured Transaction Fee for each media transaction analyzed, which is a classic ad-tech infrastructure model.
BULL
2nd
Webull
$2.11Bn
4.81
-10.76%
-51.61%
Webull is a technology-first, software-native brokerage that competes with other neobrokers like Robinhood, emphasizing a mobile-first interface and integrated AI tools as its core competitive advantage.
TIC
2nd
TIC Solutions
$2.11Bn
9.64
-9.99%
-18.72%
The Geospatial segment utilizes unmanned aerial systems (drones) for data collection, high-resolution mapping, and utility asset inspection.
NVTS
Navitas Semiconductor
$2.06Bn
7.86
-15.76%
-20.28%
Navitas designs gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices but operates as a fabless product design house. The company explicitly contracts the manufacturing of its chips and packaging to partner suppliers like GlobalFoundries and X-Fab.
VECO
Veeco Instruments
$2.03Bn
33.25
-7.64%
+12.90%
Veeco designs and manufactures capital equipment used to fabricate semiconductors, specifically laser annealing, ion beam deposition, and MOCVD systems. Its revenue is derived from the sale of these tools, as well as parts and upgrades for its installed base of equipment.
EVTC
Evertec
$2.02Bn
34.02
-1.93%
+19.24%
Evertec's core business is merchant acquiring and payment processing, enabling merchants to accept electronic payments and supporting financial institutions in managing card programs. This is evidenced by its Merchant Acquiring segment and its role as one of the largest merchant acquirers in Latin America.
CNXN
Pc Connection
$2.01Bn
79.67
-9.27%
+35.93%
Pc Connection is a Global Solutions Provider that generates revenue primarily through the sale of over 460,000 IT products sourced from more than 1,600 vendors, including Apple, Cisco, Dell, and Microsoft. It operates as a distributor and reseller of hardware, software, and cloud solutions to enterprise, SMB, and public sector customers.
HSAI
Hesai
$2.00Bn
12.84
-1.83%
-43.56%
Hesai designs and manufactures LiDAR products and sensor modules, such as the AT, ET, and Pandar series, which are sold as building blocks to automobile manufacturers, Tier 1 suppliers, and robotics firms. These products are discrete electronic components (sensors) used by OEMs to enable 3D perception and spatial intelligence.
HLIO
2nd
Helios Technologies
$1.99Bn
60.19
-10.12%
+5.67%
The Electronics segment (36% of sales) manufactures customized electronic controls systems, displays, and wire harnesses, such as the PowerView and OpenView lines, which are sold as building blocks to OEMs for integration into machinery.
CALX
Calix
$1.97Bn
31.86
-5.85%
-52.58%
Calix sells networking hardware and software that moves data packets, specifically the Calix Access Edge and Calix Experience Edge solutions. These products form the network and premises layers for communication service providers, including broadband and fiber operators.
BL
Blackline
$1.97Bn
33.67
-2.09%
-40.85%
BlackLine provides software specifically for finance and accounting teams to manage financial records, reporting, and compliance. Its core products include Account Reconciliations, Journal Entry, and Consolidation tools used by the Office of the CFO for the financial close process.
RXRX
2nd
Recursion Pharmaceuticals
$1.96Bn
3.50
-9.79%
-29.44%
The company sells AI-driven chemistry design and biological data generation capabilities to external pharmaceutical partners through its Recursion Operating System. This platform uses machine learning models and a supercomputer (BioHive 2) to provide standalone drug discovery services to its collaborators.
DBD
Diebold Nixdorf
$1.96Bn
58.35
+0.62%
-7.73%
The company sells point-of-sale (POS) systems, self-service kiosks, and the DN Vynamic Retail Platform specifically to retailers in sectors like grocery, fuel, and hospitality. This matches the vertical software and hardware focus for restaurant and retail operations.
KARO
Karooooo
$1.95Bn
63.28
-2.75%
+44.38%
Karooooo provides a SaaS platform specializing in fleet and mobile asset optimization, including logistics solutions and real-time GPS tracking. Its Commercial Applications segment specifically offers tools for logistics optimization, fuel management, and last-mile delivery-as-a-service (DaaS) for customers like DHL and Coca-Cola.
SVMB
Jingbo Technology
$1.94Bn
3.50
+0.00%
+48.94%
Jingbo develops and operates the Any-e platform, a smart parking solution that automates business processes like space reservation, entry-exit automation, and seamless payment for parking lot operators and municipal agencies. This platform functions as a business process automation tool for urban parking management, generating revenue from licensing and transaction fees.
PONY
Pony AI
$1.94Bn
4.47
-5.89%
-72.49%
Pony AI develops the full software stack for autonomous vehicles, including its proprietary 'Virtual Driver' technology and 'PonyWorld' world model training system. This software enables its robotaxi and robotruck fleets to navigate without human drivers, which is the core of its business.
