Axe Cap

[Axe Cap @_Axecap]

Is it just me or as soon as I see a tweet with multiple paragraphs I think “ai” and immediately block that person

[Axe Cap @_Axecap]

@CeleritasRe Zoom out

[Axe Cap @_Axecap]

@wolfofharcourt Nice to see some analysis that puts into perspective the longer term profile.

Expecting to see some strong operating leverage kick in as EBITDA margins expand to >55%.

[Axe Cap @_Axecap]

@janklp They have several banking licences. Regulators, customers; they all want to see rock solid stability.
They do not care about buybacks for equity holders. It will come in due course once capital is in true excess.

[Axe Cap @_Axecap]

@jevgenijs But more importantly, what’s your take?

[Axe Cap @_Axecap]

@jevgenijs So where the divergence in net revenue CC?

[Axe Cap @_Axecap]

https://t.co/ssQ30r7Od4 customer list is impressive;

▫️Adidas
▫️Sephora
▫️McDonalds (UK)
▫️KFC
▫️ASOS
▫️Gymshark
▫️Ticketmaster
▫️Live Nation
▫️Estée Lauder
▫️ASICS

Understandable logic for the acquisition given the customer overlap and increased capabilites $ADYEN

[Axe Cap @_Axecap]

@KairosPraxis Has the business not grown? How about margin?

[Axe Cap @_Axecap]

@KairosPraxis It’s worth noting that Adyens increased head count for 2026 will drag on EBITDA margins, but importantly will remain flat and well above 50%.

Adyen have implied this headcount takes 1-3 years to ramp productivity. There is an excellent chance Revenue accelerates 2-3 years out.

[Axe Cap @_Axecap]

@SleepwellCap Luxury please 🙏🏽

[Axe Cap @_Axecap]

Felt the $ADYEN quarter was a good one, business as usual. Long term trajectory > quarterly hit/miss.

Back to sleep.

[Axe Cap @_Axecap]

@Rainmaker1973 Every dad after reading the first line of instructions

[Axe Cap @_Axecap]

@WilliamGreen72 Running a public fund attracts lots of criticism when short term performance dips. What makes Terry carry on when he could run his own family money privately and do away with the noise?

[Axe Cap @_Axecap]

@HiddenMonopoly Look forward to reading!

[Axe Cap @_Axecap]

@RihardJarc I remember when you posted this.

It felt like many on fintwit had their time horizons shrinking to days and you were one of the few long term investors.

Well done 👏

[Axe Cap @_Axecap]

@Quality_stocksA It’s become a verb. They will endure.

[Axe Cap @_Axecap]

@RBASHAGGER 7.3% compounded assuming no costs……😳

[Axe Cap @_Axecap]

@JerryCap @wolfofharcourt Margin and FCF growth incoming