Cory Johnson ⚡️

Man of many 🎩s. Investor and Epistrophy Capital Research Chief Market Strategist. Host of @DrillDownPod. Ex- @Business & @CNBC.

[Cory Johnson ⚡️ @CoryTV]

#SpaceX amended S-1. New data on MAUs, which is confusingly a mosh of Twitter and xAI. Clearly most of the "users" are not on #Grok.
Combined MAUs: 550m (up 6% qoq)
% of users using Grok: 21%
% of users paying for Grok? Less than 21%, perhaps a lot less.

$SPCX #IPO 🕵🏼‍♂️

[Cory Johnson ⚡️ @CoryTV]

@PaulGerard @TheStalwart That's what counts as #IPO "research" these days. 🤦🏻‍♂️

[Cory Johnson ⚡️ @CoryTV]

@BangerDayTrades @DivesTech It's an extraordinary lockup, with lots of questions about who's in and how big. But lots of shares could hit the market before 180 days are up.

[Cory Johnson ⚡️ @CoryTV]

Yep, I'll be digging through this one too!

Ping me with thoughts and tips!

@AnthropicAI #IPO 🕵🏼‍♂️

[Anthropic @AnthropicAI]

Anthropic has confidentially submitted a draft S-1 registration statement to the Securities and Exchange Commission.

Pending completion of SEC review, this gives us the option to pursue an initial public offering.

Read more: https://t.co/onGZAhRLvD

[Cory Johnson ⚡️ @CoryTV]

Elastic's RPO surged 28% to $1.98B. Non-current RPO — deals beyond 12 months — grew 43% YoY. What's driving customers to make longer bets? An exploration.
https://t.co/2tizIM5zKD
$ESTC 🎙️ @DrillDownPod #DrillDownEarnings #Elastic

[Cory Johnson ⚡️ @CoryTV]

Elastic's sales-led subscription revenue grew 20% in FY26 to $1.44B, with FY27 guided at ~17%. CRPO says acceleration is coming. Will the revenue follow? An exploration.
https://t.co/OVlPB8cpRf
$ESTC 🎙️ @DrillDownPod #DrillDownEarnings #Elastic

[Cory Johnson ⚡️ @CoryTV]

Elastic's CRPO hit $1.2B, up 20% YoY — accelerating from 15% last quarter. What does that signal about enterprise AI commitments? We explain.
https://t.co/NOcucx2Dct
$ESTC 🎙️ @DrillDownPod #DrillDownEarnings #Elastic

[Cory Johnson ⚡️ @CoryTV]

Pouring through the #SpaceX amended S-1. I've read hundreds of these, but wonder still if this is more a response to more regulator questions? Lawyers? Nervous bankers?

Watch this space for more (see what I did there? 🚀)

$SPCX #IPO 🕵🏼‍♂️

[Cory Johnson ⚡️ @CoryTV]

Elastic's Agent Builder is now GA. The company says using it as a context layer cuts token usage by 70% vs. naive RAG. Why does that matter for AI cost? We take a look.
https://t.co/OVlPB8cpRf
$ESTC 🎙️ @DrillDownPod #DrillDownEarnings #Elastic

[Cory Johnson ⚡️ @CoryTV]

Synopsys' Design Automation segment hit a 43.3% adjusted operating margin in Q2. What's behind that expansion, and how does the Ansys integration factor in? We take a look.
https://t.co/vAFSXv4fNz
$SNPS 🎙️ @DrillDownPod #DrillDownEarnings #Synopsys

[Cory Johnson ⚡️ @CoryTV]

Synopsys delivered the industry's first HBM4 IP test chip and crossed 150 UCIe lifetime wins in Q2. What does this say about memory and chiplet interconnect demand? An exploration.
https://t.co/3lJ6bKGxgM
$SNPS 🎙️ @DrillDownPod #DrillDownEarnings #Synopsys

[Cory Johnson ⚡️ @CoryTV]

Synopsys' Design IP revenue fell ~6% YoY but rose 12% sequentially in Q2. Margins dropped to 24.4% from 31.2% a year ago. Has the segment actually bottomed?
https://t.co/cxl27XZYm9
$SNPS 🎙️ @DrillDownPod #DrillDownEarnings #Synopsys

[Cory Johnson ⚡️ @CoryTV]

Synopsys targets $400M in Ansys multiphysics revenue synergies starting FY27—but monetization hasn't begun yet. What must happen in the eval phase to unlock that number?
https://t.co/3lJ6bKGxgM
$SNPS 🎙️ @DrillDownPod #DrillDownEarnings #Synopsys

[Cory Johnson ⚡️ @CoryTV]

@fkronawitter1 Where's $SPCX's Grok?

[Cory Johnson ⚡️ @CoryTV]

What's NOT in the #SpaceX #IPO filing?

A lot.

We discuss on @SchwabNetwork -- with the great @MarleyKayden & @Sam_Vardas.

(And can somebody save me from the too-close or too-far #CenterStage on my new Mac? Oy!) 📺

https://t.co/le36k1P3Om

[Cory Johnson ⚡️ @CoryTV]

Explaining the sell-off in ZS shares:
https://t.co/yArAvVHwlA
$ZS 🎙️ @DrillDownPod #DrillDownEarnings #Zscaler

[Cory Johnson ⚡️ @CoryTV]

Zscaler's Data Security ARR crossed $500M, up 30%+ YoY, with one federal agency now using 6 of 8 data security modules. Is data security the next ARR engine? Why does the market hate this?
https://t.co/KkWAXtthrZ
$ZS 🎙️ @DrillDownPod #DrillDownEarnings #Zscaler

[Cory Johnson ⚡️ @CoryTV]

Zscaler guided FY27 ARR and revenue growth at just 16–17%, down from 25% today. Two sales leaders just departed. Why is the market scared
https://t.co/XmDBrUweBI
$ZS 🎙️ @DrillDownPod #DrillDownEarnings #Zscaler

[Cory Johnson ⚡️ @CoryTV]

Zscaler Q3 revenue hit $850M, up 25% YoY, beating guidance of $834–836M. But organic ARR growth ex-Red Canary was only 21%. What's underneath? We explain.
https://t.co/KkWAXtthrZ
$ZS 🎙️ @DrillDownPod #DrillDownEarnings #Zscaler