muji @ hhhypergrowth

Hypergrowth investor doing research into the tech behind the SaaS. Now with a premium newsletter, plus free articles monthly. -muji

[muji @ hhhypergrowth @hhhypergrowth]

Today's free post is on the Layers of AI - a tech explainer into what is underlying this wave of Generative AI and LLMs. #AI #GenerativeAI #LLMs

https://t.co/U3sdkevLC4

[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

[muji @ hhhypergrowth @hhhypergrowth]

@DazzDaBozz @FransBakker9812 The DataOne CEO is over the top and this time it bit him in the ass

[muji @ hhhypergrowth @hhhypergrowth]

@tim_tyler @tanayj but then it wouldn't look like a phoenix

[muji @ hhhypergrowth @hhhypergrowth]

This week in premium: A look at Axon's Q4 results, expanding verticals, changing US drone/counterdrone regulations, hardware & software moves, and what came out of Axon Week this week (Axon Vision, Axon 911, expansion of Axon Assistant).

$AXON

[muji @ hhhypergrowth @hhhypergrowth]

today in premium: a look at Samsara's Q3 & 426, the opportunities with shifting EU regulations, and the pending IPO from Motive

$IOT $MTVE

[muji @ hhhypergrowth @hhhypergrowth]

@PiyDW what a dis, calling out the stock i 10x'd on in a year and half

[muji @ hhhypergrowth @hhhypergrowth]

at what point does GitLab get swallowed up by a hyperscsaler that wants to compete with Microsoft Github? $GTLB

asking for a friend

[muji @ hhhypergrowth @hhhypergrowth]

@JonahLupton @BitcoinAIGuy the whole point of Coreweave's backlog is that it has the power runway lined up $CRWV

it secures the powershell at the point of signing the cust

[muji @ hhhypergrowth @hhhypergrowth]

@CloudflareDev who is Greg Kinear calling on the phone tho

[muji @ hhhypergrowth @hhhypergrowth]

@mayurzzz @aakashgupta probably all that free time he has apart from being a substacker, podcaster, and having a toddler

[muji @ hhhypergrowth @hhhypergrowth]

@OptionWell nimble... or, just an admission they couldn't figure it out on their own

("Hey Siri!, why have you sucked for years now?")

[muji @ hhhypergrowth @hhhypergrowth]

@StockMarketNerd i love you nerd

[muji @ hhhypergrowth @hhhypergrowth]

Agree ... time to find some deals out there.

[John Huber @JohnHuber72]

The market feels so inefficient right now. All the "AI winners" trade in line as a group; same for those stocks supposedly disrupted by AI. It's indiscriminate buying and selling fueled by emotion and momentum. Reminds me of Covid when all the "stay at home" stocks traded as a group and all the "real world" stocks did the inverse. Once in a while, the market becomes susceptible to narratives (even crazy narratives) and people extrapolate too far; i.e. we won't need any physical stores, we won't need in person meetings; there will be no more need for human labor (2026 trumping 2020 by removing not just human meetings, but humans altogether). The market is very vulnerable to inefficiencies when these narratives are given even some credibility. They often occur at big inflection points, although I have no idea which direction the stock market will go next. But I am pretty convinced this is one of those times when it is ripe for inefficiency.

[muji @ hhhypergrowth @hhhypergrowth]

@StockMarketNerd little bit

[muji @ hhhypergrowth @hhhypergrowth]

today in premium: Understanding Reddit $RDDT

part 2 tomorrow covers the financials, AI positioning, and moves

[muji @ hhhypergrowth @hhhypergrowth]

@antibearthesis @amitisinvesting because everyone and their mom own the stock already

[muji @ hhhypergrowth @hhhypergrowth]

Axon $AXON reported strong Q4 and FY26 guide

FY25
Revenue $2.8B +33%
ARR $1.3B +35%
Bookings $7.4B +46%
Future contracts $14.4B +43%
Net inc margin 4.5%
aEBITDA 25.5%

guide 2026 revenue +27-30%, aEBITDA 25.5%
new 2028 target of $6B ARR, aEBITDA 28%

[muji @ hhhypergrowth @hhhypergrowth]

@WisemanCap Considering they were growing 2% a year ago, this revenue rebound is definitely a good thing

[muji @ hhhypergrowth @hhhypergrowth]

Fastly $FSLY continues to disappoint on completely ignoring its land motion. They added 31 net new customers over the last year.

Fun fact, Fastly added more large customers than it did overall customers in a year (+32 vs +31).

At least they are no longer shedding customers like in FY24. But you won't know, because they aren't going to report it anymore.

[muji @ hhhypergrowth @hhhypergrowth]

@KurtMilneStocks Its been getting close on net… but is not a focus. Op margin just hovering

[muji @ hhhypergrowth @hhhypergrowth]

today in premium: Cloudflare's stellar Q4, its GTM revamp and rise of agentic AI, and a look at Fastly's Q4 too

$NET $FSLY