Post 46;

I’m stuck in an airport In Barcelona after a canceled flight, so I’m just looking at Slack (WORK) on the run on my phone while I wait.  First thing I notice is that it already has a $19 billion market cap!  Yowza…that’s a big market cap for a company of only $400 million in sales and no profits yet.  That said, I do really like that it has 66.6% quarter over quarter revenue growth! 87% margins!! And 143% net Dollar retention rate…a great indicator their current customers love them and are adding to their existing licenses. And 81.6% full year growth from 2018 to 2019!!  All very impressive.  That said, the calculated Billings only grew 46.5% last quarter…which may indicate a slow down in the future. It’s also worth noting that they have a very, very small percentage of their customers actually paying right now…though they did close Oracle in 2017 and have over 100,000 people in that company using now! The S-1 is accessible by simply googling it and I encourage you to take a look at it (though I can attest it’s challenging on an iPhone to read!).  It offers a lot of information going back usually up to 8 quarters and recapping the financials, risks and all kinds of other history and pertinent metrics.  I will postpone judgment until I have my spreadsheets in front of me and can look into it more in depth and assess if growth is accelerating, look at the balance sheet to assess debt and cash levels, dig into stock based compensation and other factors.  In the mean time, nice to see a negative day end nicely 0.5% in the positive just now.  Good night!!  😉