Phathom

Solo Equity Researcher.

Leveling the playing field for modern retail investors.

(NFA. Do your own DD.)

[Phathom @PhathomResearch]

$PATH checks all the boxes:

✅Technical Founder-led company: Daniel Dines.
✅Cheap current valuation: 4x trailing sales.
✅Strong balance sheet: $1.4B in cash with zero debt.
✅Profitability: GAAP profitable and free cash flow positive.
✅Decreasing share count: Strong buybacks outpacing SBC driving shareholder value.
✅Growing TAM: Projected 30% CAGR through 2035
✅Growth Catalyst Incoming: Agentic orchestration for enterprises is about to explode.
✅Strong moat: Over 10,000 "sticky" enterprise customers with high switching costs. $PATH has deep legacy system connectivity and governed agentic intelligence.
✅Vertical Integration: 9 pre-configured use-specific orchestrations (count is growing) that allows $PATH to quickly gain share at high margins.
✅Strong GTM Strategy: Large network of Value-Add Retailers, marketing partnerships with Deloitte and SAP, and growing UiPath marketplace.
✅Technology Partners: Microsoft, NVIDIA, Google, Anthropic, OpenAI, LangChain, Snowflake, etc.

[Phathom @PhathomResearch]

@REBTChit Good question - I'm not sure. To be fair, I've seen other testimonials that were less scripted and customers sometimes fumble their words. Scripts keep it on point.

[Phathom @PhathomResearch]

New Zealand's largest telecom company, OneNZ, is leveraging the power of @UiPath Maestro to automate across their existing platforms - including legacy, on-premise systems.

This is the unique power of $PATH - customers don't need to rip out their existing software stack to build end-to-end workflows.
(Press release in comments).

[UiPath @UiPath]

.@onenzofficial believes the future of telecomms is AI first, but human where it matters. Discover how UiPath Maestro is orchestrating AI, automation, legacy systems, & people into a single connected operation. 🤝 https://t.co/e1ZqjPUUsm

[Phathom @PhathomResearch]

Press release: https://t.co/5yhSuVqqL2

[Phathom @PhathomResearch]

There are some $PATH bears out there who are unimpressed by the current revenue growth rate - it's a fair criticism, but it's surface-level. I am more focused on what they are building and that the current valuation is very cheap/low risk. Revenue growth rate has recently hit an inflection point; we just have to be patient as the thesis continues to play out.

[Phathom @PhathomResearch]

$PATH has received the certification needed to be leveraged by the Dubai government. This is a key part of their footprint expansion in the Middle East.

[UiPath @UiPath]

Trust, verified. 🔒 We're proud to share we've achieved the DESC certification, validating the UiPath suite of #automation and AI services against the highest cybersecurity standards mandated by the Emirate of Dubai.

[Phathom @PhathomResearch]

@L4rkee @BenBajarin 100%. $PATH's ability to orchestrate end-to-end workflows that include legacy, non-API connected systems will continue to be a large differentiator and moat for them.

[Phathom @PhathomResearch]

Yes, my money is on $PATH. They have partnered with seemingly every technology partner you can imagine to create a fully model agnostic platform. And they also specialize in both on-prem or off-prem. Below is some documentation about their on-premise platform.

Automation Hub - Automation Hub On Premise https://t.co/xLZiahUgZU

[Phathom @PhathomResearch]

@BenBajarin Spoiler alert: it's UiPath $PATH.

Automation Hub - Automation Hub On Premise https://t.co/yzZzMEbZw9

[Phathom @PhathomResearch]

You constantly reply to my posts with nothing but toxic negativity, then have the audacity to say that I'm attacking you? Are you for real right now?

I've given you the opportunity to have an actual debate and you weren't interested. I'm only keeping you unblocked as a reminder that people like you exist on this app.

[Phathom @PhathomResearch]

$PATH's revenue growth rate has reached an inflection point (back to mid-to-high teens) yet its EV/Sales ratio is still near an all-time low of ~3x.

$PATH should be valued closer to 6-7x EV/Sales today - similar to where it traded in mid-2023 when it had a similar revenue growth rate.

If $PATH re-rated to 6-7x EV/Sales, it would trade at ~$24-28 per share; today it trades at ~$12. This disconnected valuation provides an asymmetric opportunity (100% to 133% upside) with a large margin of safety that allows me to feel comfortable allocating an outsized portion of my portfolio to the stock at these prices.

NFA. Do your own DD.

[Phathom @PhathomResearch]

@JonnyD0nuts @middlemarketcpa Your confidence in a subject you clearly don't understand amuses me.

[Phathom @PhathomResearch]

@JonnyD0nuts @middlemarketcpa While I commend you for evolving to posting links, the fact that you think this is bearish for $PATH - the orchestration layer that already had deep partnerships with $NVDA and $MSFT - means you still have a ways to go.

[Phathom @PhathomResearch]

@JonnyD0nuts @middlemarketcpa If I said yes, would you believe me?

[Phathom @PhathomResearch]

Software is cooling off today and $PATH is giving back $1 of its recent gains. I am curious if shorts are using this as an opportunity to cover or if they are stubborn and greedy enough to keep adding to their short position.

I selfishly hope they keep adding and keep digging their hole deeper. This will add even more fuel to the rally.

Last short interest report showed 33% of $PATH float being short. The next report comes out June 9th - I will be watching closely.

[Phathom @PhathomResearch]

@Anotheroneright Just out of curiosity, what causes you to respond like this?

[Phathom @PhathomResearch]

@JonnyD0nuts @middlemarketcpa Glad to have you back.

[Phathom @PhathomResearch]

@middlemarketcpa What does me tweeting have to do with it?

[Phathom @PhathomResearch]

@middlemarketcpa The shorts already tried to take $PATH out back... it didn't work. Now its the longs turn to have some fun.

[Phathom @PhathomResearch]

@middlemarketcpa This actual footage of the shorts getting taken out?