🗞 The 7 Best Charts We Found In Q1

Happy Sunday! 👋 

With earnings season winding down, today we’re taking a look at the 7 best charts we found across all Q1 reports.

Let’s dive in!

Featured Story

The 7 Best Charts We Found in Q1

1. Memory Chip Supercycle

The leading memory chip makers (Samsung, SK Hynix, and Micron) are expected to generate $468 billion in combined operating profits in 2026 according to consensus analyst estimates. That’s a 541% jump from what they collectively generated in 2025.

This growth goes way beyond anything these companies have experienced in previous cycles. The massive AI data center buildout has created a historic surge in demand for memory chips. With demand for high-bandwidth memory (HBM) far outpacing what these leading companies can produce, they’re not only experiencing full capacity utilization but it’s leading to significant price increases as well.

2. Palantir - Net Dollar Retention Rate

Palantir is the largest company ever to report a 150% net dollar retention rate.

For those unfamiliar with the metric, this means Palantir would have grown revenue by 50% purely from its existing customers. That is astounding growth for a business of Palantir’s size ($5B+ annual revenue).

Along with the rapid growth, Palantir’s operating margins expanded to 46% this quarter, compared to 20% in Q1 2025. Despite the record revenue growth and profitability, shares of Palantir fell 6% following the report.

3. Pinterest - Total Shares Outstanding

For the first 3 months of 2026, shares of Pinterest were hovering near all time lows. February 13th marked the actual bottom with the stock dropping to $15.42, ~83% below its all time highs.

Investors have soured on the visual first social media platform for a couple of reasons. First, Pinterest is uniquely reliant on retail advertisers and US tariffs led to cuts on digital ad spending among that cohort. Second, and this is more of a long-term threat, there is growing concern that AI will replace traditional visual search. The logic here is pretty straightforward, if you can describe what you’re looking for to a text-to-image or text-to-video model, you may not need to go to Pinterest for inspiration.

Well… Pinterest’s management team made it clear that they do not share that concern. In the first quarter, Pinterest used a combination of convertible debt and cash on hand to buy back $2 billion worth of stock. That repurchase program resulted in a 14% reduction in the company’s share count in a single quarter. The company still has another $2 billion remaining on their current buyback authorization.

4. Google Cloud Revenue Growth

It wasn’t that long ago that investors were calling Google an “AI loser”. In fact, just last year, shares of Alphabet traded below an EV/EBIT of 15x.

Well… fast forward a year and Google is now considered the only true, full-stack AI company. And one segment in particular has stood out above the rest: Google Cloud.

Google Cloud hit $80 billion in ARR this quarter and revenue growth accelerated to its fastest rate ever, up 63% YoY. This is the fastest growth rate among all 3 of the major public cloud providers.

However, CEO Sundar Pichai made sure to let investors know that revenue growth could have been faster if it weren’t for chip shortages:

5. Eli Lilly - Mounjaro v. Keytruda

Mounjaro became the best selling drug in the world this quarter.

Eli Lilly’s leading weight-loss drug surpassed Merck’s cancer treatment drug Keytruda, which has held the position for several years running.

Weight-loss drugs are the fastest growing pharmaceutical category ever. From virtually a standing start in 2021, the 4 leading drugs (Mounjaro, Ozempic, Zepbound, and Wegovy) are now on pace to generate more than $100 billion in sales this year.

Mounjaro and Zepbound have increased their combined sales 452% over the last 2 years alone and now account for 65% of Eli Lilly’s total revenue.

6. FICO - Scores Revenue

Despite recent attempts from regulators to increase competition and lower costs in the credit scoring space, in the US it’s basically required for a lender to pull a FICO score in order to offer a mortgage.

Knowing that it functionally maintains a monopoly status, FICO (the leading credit scoring company) has raised prices drastically in recent years. Since 2023, FICO has raised their wholesale royalty from $0.60 per score to $10 per score, a ~15-fold in 4 years.

These price increases have enabled FICO to grow revenues despite an extremely weak housing market in the US over the last several years. And this quarter, we saw that revenue growth accelerate to 60% YoY, marking their fastest growth rate on record.

7. DoorDash - Deliveries per Day

DoorDash reported 933 million orders in Q1, up 27% compared to the same period a year prior. Averaged out over the quarter, that means DoorDash is completing more than 10 million orders per day.

What’s perhaps even more impressive is that DoorDash is generating this growth in orders during a significant slowdown in the fast-casual restaurant sector. Restaurant industry reports suggest that sales are expected to grow by just 1.3% after adjusting for inflation, and companies like Chipotle, CAVA, Wingstop, Shake Shack, and Sweetgreen have all reported declining comp store sales growth over the last year.

That’s all for this week. 

If you have any questions about Fiscal.ai or any feedback for the newsletter, feel free to reply to this email!