To The Moon

$ResMed(RMD)$ 😴 ResMed (RMD) — Inflection Hunter Snapshot The market still fears GLP-1 drugs will kill sleep apnea demand. The numbers say otherwise. ResMed is showing a **confirmed positive inflection**, driven by margin expansion and earnings leverage — not hype. 📈 Inflection status: CONFIRMED POSITIVE Margins and earnings are accelerating faster than revenue. Atomic evidence: • Revenue +9% YoY to $1.34B (Q1 FY26) • Net income +12% YoY to $348.5M → clear operating leverage • Gross margin expanded to 59.4% (+80bps YoY) • Core Sleep & Breathing revenue +10% YoY ($1.17B) • Dividend raised 13% YoY to $0.60 This directly contradicts the “terminal decline from GLP-1” narrative. 💰 Balance sheet strength: • Cash $1.38B vs debt $668M →

$Astera Labs, Inc.(ALAB)$ 🧩 Astera Labs (ALAB) — Inflection Analysis This is the moment many IPOs fail to reach. Astera Labs has crossed from “AI promise” into **real, GAAP-profitable execution** — and the inflection is now confirmed. ALAB sits at the center of hyperscaler AI clusters, supplying the **connectivity backbone** (retimers, switches, modules) that makes large-scale AI compute actually work. 📈 Inflection status: CONFIRMED POSITIVE Profitability, cash flow, and scale efficiency have all flipped. Atomic evidence: • Q3’25 revenue $230.6M, +104% YoY • GAAP net income $91.1M vs loss last year • Diluted EPS $0.50 vs $(0.05) • YTD operating cash flow $224M • Gross margin ~76% while scaling hardware • R&D intensity fell to 34%

$DexCom(DXCM)$ 🩺 DexCom (DXCM) — Inflection Analysis DexCom is emerging from its 2024 slowdown — and the growth engine is re-accelerating. After a digestion year marked by channel resets and litigation overhang, DexCom is now benefiting from faster product cycles and an expanded addressable market beyond insulin users. 📈 Inflection status: CONFIRMED POSITIVE Direction: Improving (confidence: medium–high) Atomic evidence: • Revenue re-accelerated to +21% YoY (Q3’25) vs +11% FY’24 • Stelo (OTC, non-insulin) launched Aug’24 → major TAM expansion • G7 15-day clearance (Apr’25) restores product parity • Gross margin stabilized and expanded in Q3’25 on volume leverage • 500k–600k net users added in FY’24 (pre-Stelo) This is no longer just a

$Hims & Hers Health Inc.(HIMS)$ 🧬 Hims & Hers Health (HIMS) — Inflection Analysis HIMS has already crossed the hardest line: profitability. But the next phase depends on how well it replaces GLP-1 tailwinds. After years as a growth-first DTC telehealth platform, HIMS delivered its first full year of net income in FY2024 — confirming a real business inflection. 📈 Inflection status: CONFIRMED POSITIVE (stabilizing) Revenue, margins, and cash flow have all turned sustainable. Atomic evidence: • FY2024 net income $126M vs -$23.5M in FY2023 • Q3’25 revenue $589M, +50% YoY • Monthly revenue per subscriber $80 vs $55 last year • Subscribers 2.47M, +21% YoY • Marketing spend down to ~40% of revenue (operating leverage) This is no l

$Fox Corporation Class A(FOXA)$ $Fox Corporation Class B(FOX)$ This is not a dying cable story. Fox is quietly executing a rare combo: ad-cycle dominance + disciplined capital returns. The market worries about cord-cutting. Fox is monetizing attention instead. 📈 Inflection status: CONFIRMED POSITIVE Growth, margins, and cash flow are all inflecting higher — driven by sports, politics, and digital scale. Atomic evidence: TV ad revenue +77% YoY (Q3’25, Super Bowl + election cycle) Tubi view time +40% FY2024, now ~2% of total US TV share Distribution revenue +3% despite ~7% linear subscriber decline Television segment EBITDA +87% FY2025 Operating cash flow reached ~$3.3B FY2025 This is a capital-return machin

$Evolution AB(EVVTY)$ This looks cheap. But it’s cheap for a reason — and the inflection is still going the wrong way. Evolution was once the dominant B2B live-casino growth machine. Today, growth is being dragged down by **cyber attacks, higher global taxes, and self-inflicted compliance leakage**. 📉 Inflection status: NEGATIVE Revenue, margins, and cash flow are all deteriorating. Atomic evidence: Net revenue **-2.4% YoY (Q3’25)** vs +14.7% a year ago EBITDA margin **~70% → 66%** Asia growth stalled due to **video stream hijacking** Pillar II tax lifted effective tax rate to **~15%** European ring-fencing caused immediate revenue leakage This is not a balance-sheet problem. Evolution is **debt-free**, generating cash, and returning capital. 💰 V

$ServiceNow(NOW)$ ServiceNow's Quiet Transformation: From Boring Back-Office to Autonomous AI Leader Most people still think of ServiceNow as just a platform for managing IT workflows. They are missing the massive pivot happening right now. The company is rapidly transforming into a leader in "Agentic AI"—building AI agents that don't just summarize text, but autonomously complete complex business tasks. The signs of this shift are everywhere: **Massive Demand:** Their backlog of future contracts jumped 36% year-over-year to nearly $20 billion. Big enterprises are hungry for this consolidation. **Cash Machine:** Cash profits surged 48% in the first nine months of 2024 alone. **Betting the Farm on AI:** They have committed a massive $4.8B to

$AppLovin Corporation(APP)$ Is the AppLovin turnaround real? The data says yes. 🚀 They pulled off a massive pivot from a messy hybrid model to a streamlined AI powerhouse. The timeline of the transformation: 🎮 Phase 1: Struggling hybrid (losing money). 🧠 Phase 2: The AI engine kicks in (profits explode). ✂️ Phase 3: Sold the gaming apps "baggage" to focus. 💰 Phase 4: A pure-play AI advertising giant ($835M net income). The transition is complete.

$Duolingo, Inc.(DUOL)$ Duolingo : The Owl is Printing Cash🦉💸 Is the recent profit explosion real, or just accounting magic? AI looked under the hood. Here is the simple truth: ✦ The "Fake" Spike: That massive profit jump? Most of it was a one-time tax credit. Don't be fooled by the headline number.⚠️ ✦ The Real Gold: The actual business is on fire. Users are more addicted than ever (daily usage is soaring).🔥 ✦ Efficiency: They are spending LESS on marketing while growing FASTER. That is the holy grail of software. ✦ The Verdict: Even without the tax bonus, this is one of the most disciplined companies in the market. Verdict: A Structural Compounder. The hype is backed by math.📈✅

$Salesforce.com(CRM)$ Salesforce : The "AI" Mask is Slipping? 🎭 They scream "Agentforce," but the numbers tell a different story. We dug into the financials—here is the reality vs. the hype. 🚨 The Truth in 4 Points: ➺The Cash Machine: Margins are massive (~22%), but it's from cutting costs, not selling more software. ➺The Growth Problem: Revenue growth has stalled in single digits. The "Hyper-Growth" era is over. ➺The AI Gap: "Agentforce" is everywhere in their speeches, but nowhere in the revenue line (yet). ➺The Pivot: They are buying back stock ($50B) because they can't find enough new customers. Verdict: $CRM is now a defensive utility stock wearing an AI costume. 📉➡️🛡️