$HNGE
Business
Hinge Health sells employer and health-plan access to digital musculoskeletal and migraine care, combining software, connected devices and clinicians. Revenue depends on members engaging under customer contracts, rather than simply the number of eligible lives. The September 1 acquisition of Cylinder adds gastrointestinal care. Advance billing, sales commissions, delivery costs and equity compensation shape the cash generated by growth.
Three drivers
- Client adoption and member engagement becoming billable care
- Legacy growth and the closed Cylinder integration
- Advance collections, commissions and capital deployment
Thesis
Our view
Q2 growth and cash were strong, but the cash conversion includes substantial advance billing. Cylinder is now closed, not merely a pending agreement. The model allocates provisional acquired sales inside total revenue and separates purchase cash from operating performance. The new office lease and buyback authorization create additional capital choices; neither is treated as an immediate recurring operating expense.
What changes it
Track engagement and billings against revenue recognized over service periods, then commission investment and collections. Require reported acquired contribution and purchase accounting before interpreting the provisional Cylinder assumptions as a company forecast.
Scenario ranges
Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.
Model · 8 fiscal quarters (last eight)
| Fiscal quarter | 2025Q3 2024-09-30 | 2025Q4 2024-12-31 | 2025Q2 2025-03-31 | 2025Q2 2025-06-30 | 2025Q3 2025-09-30 | 2025Q4 2025-12-31 | 2026Q1 2026-03-31 | 2026Q2 2026-06-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue ($M) | 100.61 | 117.3†2 | 123.83 | 139.14 | 154.21 | 170.7†2 | 182.33 | 212.84 |
| Gross profit ($M) | 79.35 | 96.1†6 | 100.27 | 97.88 | 126.25 | 144.0†6 | 154.27 | 183.98 |
| Operating income ($M) | -3.89 | 20.9†10 | 13.111 | -580.712 | -6.19 | 27.3†10 | 32.111 | 40.412 |
| Net income ($M) | 0.313 | 27.1†14 | 17.115 | -575.716 | -1.813 | 32.1†14 | 35.115 | 43.716 |
| EPS, diluted ($) | 0.0117 | — | 1.3118 | -13.1019 | -0.0217 | — | 0.4118 | 0.5219 |
| Diluted shares (M) | 16.620 | — | 92.721 | 43.922 | 78.920 | — | 82.421 | 83.422 |
| Cash ($M) | 267.523 | 300.824 | 288.525 | 237.226 | 261.323 | 208.026 | 186.725 | 286.226 |
| Long-term debt ($M) | — | — | — | — | — | — | — | — |
| Cash from operations ($M) | 28.4†27 | 38.3†28 | 4.929 | 20.2†30 | 82.4†27 | 63.9†28 | 43.129 | 101.4†30 |
| Capex ($M) | 0.3†31 | 0.2†32 | 0.133 | 0.2†34 | 0.1†31 | 0.4†32 | 0.133 | 0.1†34 |
| Free cash flow ($M) | 28.1†35 | 38.2†36 | 4.9†37 | 20.0†38 | 82.3†35 | 63.5†36 | 43.0†37 | 101.3†38 |
Estimates · base scenario
| Period | Revenue ($M) | EPS ($) | As of | Basis |
|---|---|---|---|---|
| 2026Q3 | 224.0 | — | 2026-09-19 | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| 2026Q4 | 238.9 | — | 2026-09-19 | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| 2027Q1 | 256.7 | — | 2026-09-19 | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
| 2027Q2 | 280.0 | — | 2026-09-19 | Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance. |
Member conversion, advance billings and the closed Cylinder acquisition
Use August total revenue and adjusted operating guidance as references, then explicitly allocate a provisional Cylinder contribution within the consolidated revenue scenario following its September 1 close. Extend the legacy business and acquired GI business separately in FY2027. Reconcile non-GAAP profit to GAAP expenses and bridge earnings through commissions, advance billing and collections to CFO. Show cash after PP&E/software, then award withholding and the announced $105M acquisition cash consideration.
Reported anchors and guidance
| Measure | Period | Value | Basis |
|---|---|---|---|
| August FY2026 total revenue outlook midpoint | FY2026 | 858.00 | derived. Calculated midpoint of the company range; not an additional company forecast. |
| August Q3 total revenue outlook midpoint | 2026Q3 | 224.00 | derived. Calculated midpoint of the company range; not an additional company forecast. |
| August FY2026 non-GAAP operating income midpoint | FY2026 | 240.00 | derived. Calculated midpoint of the company range; not an additional company forecast. |
| H1 company FCF | H1 2026 | 141.11 | derived. Includes software investment; no current-period IPO payroll-tax addback. |
| H1 cash after software and award withholding | H1 2026 | 121.32 | derived. No H1 acquisition cash; excludes $131.491M repurchases. |
| H1 deferred funding | H1 2026 | 115.61 | reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06 |
| H1 commission cash | H1 2026 | 49.08 | reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-08-06 |
| deferred revenue | 2026Q2 | 416.47 | reported. Consolidated amount in millions; unrestricted liquidity includes short- and long-term marketable securities. Source · 2026-08-06 |
| unrestricted liquidity | 2026Q2 | 474.13 | reported. Consolidated amount in millions; unrestricted liquidity includes short- and long-term marketable securities. Source · 2026-08-06 |
| restricted cash | 2026Q2 | 1.44 | reported. Consolidated amount in millions; unrestricted liquidity includes short- and long-term marketable securities. Source · 2026-08-06 |
| Announced Cylinder cash consideration | September 2026 | 105.00 | management guidance. August agreed cash consideration; September closing confirmed, final closing adjustments not yet reported. Source · 2026-08-04 |
| lease base rent | August 2026 | 86.00 | reported. Commitment/allowance from the new office lease; not all current cash or expense. Source · 2026-08-21 |
| lease allowance | August 2026 | 17.90 | reported. Commitment/allowance from the new office lease; not all current cash or expense. Source · 2026-08-21 |
| Available repurchase authorization July 29 | July 2026 | 300.00 | reported. Authorization is not executed spending; $496.5M aggregate authorization with $196.5M used as of July 29. Source · 2026-08-04 |
Downside scenario
| Period | Operating cash flow ($M) | CFO less PP&E ($M) | PP&E cash purchases ($M) | Consolidated revenue ($M) | Cylinder revenue assumption ($M) | Capitalized software cash ($M) | CFO less PP&E and software ($M) | GAAP gross profit proxy ($M) | Cash after software, awards and acquisition ($M) | GAAP operating income ($M) | Non-GAAP operating income ($M) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026Q3 | 33.88 | 31.88 | 2.00 | 212.80 | 2.00 | 2.00 | 29.88 | 173.96 | -87.12 | 24.00 | 52.70 |
| 2026Q4 | 16.36 | 14.36 | 2.00 | 207.18 | 6.00 | 2.50 | 11.86 | 168.26 | -1.14 | 13.92 | 43.62 |
| 2027Q1 | 40.60 | 37.60 | 3.00 | 216.12 | 6.60 | 3.00 | 34.60 | 175.44 | 20.60 | 17.52 | 51.72 |
| 2027Q2 | 47.25 | 44.25 | 3.00 | 235.77 | 7.20 | 3.50 | 40.75 | 191.39 | 25.75 | 19.22 | 56.42 |
| FY2026 | 194.73 | 190.53 | 4.21 | 815.10 | 8.00 | 7.68 | 182.85 | 680.40 | 33.06 | 110.43 | 204.00 |
| FY2027 | 155.74 | 143.74 | 12.00 | 982.38 | 30.00 | 15.00 | 128.74 | 797.45 | 66.74 | 80.29 | 235.09 |
Base scenario
| Period | Operating cash flow ($M) | CFO less PP&E ($M) | PP&E cash purchases ($M) | Consolidated revenue ($M) | Cylinder revenue assumption ($M) | Capitalized software cash ($M) | CFO less PP&E and software ($M) | GAAP gross profit proxy ($M) | Cash after software, awards and acquisition ($M) | GAAP operating income ($M) | Non-GAAP operating income ($M) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026Q3 | 72.75 | 70.75 | 2.00 | 224.00 | 3.00 | 2.00 | 68.75 | 192.01 | -48.25 | 34.30 | 62.00 |
| 2026Q4 | 47.65 | 45.65 | 2.00 | 238.88 | 9.00 | 2.50 | 43.15 | 203.54 | 30.15 | 41.62 | 70.32 |
| 2027Q1 | 81.23 | 78.23 | 3.00 | 256.68 | 11.00 | 3.00 | 75.23 | 218.43 | 61.23 | 40.50 | 73.70 |
| 2027Q2 | 100.12 | 97.12 | 3.00 | 280.01 | 12.00 | 3.50 | 93.62 | 238.29 | 78.62 | 44.20 | 80.40 |
| FY2026 | 264.90 | 260.69 | 4.21 | 858.00 | 12.00 | 7.68 | 253.01 | 733.74 | 103.22 | 148.43 | 240.00 |
| FY2027 | 330.12 | 318.12 | 12.00 | 1,166.72 | 50.00 | 15.00 | 303.12 | 992.88 | 241.12 | 184.22 | 335.02 |
Upside scenario
| Period | Operating cash flow ($M) | CFO less PP&E ($M) | PP&E cash purchases ($M) | Consolidated revenue ($M) | Cylinder revenue assumption ($M) | Capitalized software cash ($M) | CFO less PP&E and software ($M) | GAAP gross profit proxy ($M) | Cash after software, awards and acquisition ($M) | GAAP operating income ($M) | Non-GAAP operating income ($M) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026Q3 | 90.21 | 88.21 | 2.00 | 229.60 | 4.00 | 2.00 | 86.21 | 199.07 | -30.79 | 37.26 | 66.96 |
| 2026Q4 | 76.77 | 74.77 | 2.00 | 254.73 | 12.00 | 2.50 | 72.27 | 219.57 | 59.27 | 52.86 | 84.56 |
| 2027Q1 | 113.97 | 110.97 | 3.00 | 285.14 | 15.40 | 3.00 | 107.97 | 245.46 | 93.97 | 53.35 | 90.55 |
| 2027Q2 | 137.49 | 134.49 | 3.00 | 311.06 | 16.80 | 3.50 | 130.99 | 267.77 | 115.99 | 57.59 | 98.79 |
| FY2026 | 311.47 | 307.26 | 4.21 | 879.45 | 16.00 | 7.68 | 299.59 | 756.83 | 149.80 | 162.63 | 259.20 |
| FY2027 | 473.52 | 461.52 | 12.00 | 1,296.10 | 70.00 | 15.00 | 446.52 | 1,115.71 | 384.52 | 238.81 | 411.61 |
All inputs and formulas — reproduce this model
| Input / calculation | Period / case | Value / unit | Evidence or assumption |
|---|---|---|---|
| H1 revenue h1_revenue | H1 2026 / shared | 395.12 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 gross profit h1_gross_profit | H1 2026 / shared | 338.18 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 adjusted operating income h1_adjusted_operating_income | H1 2026 / shared | 107.68 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-04 |
| H1 operating income h1_operating_income | H1 2026 / shared | 72.51 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 cfo h1_cfo | H1 2026 / shared | 144.50 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 capex h1_capex | H1 2026 / shared | 0.21 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 software h1_software | H1 2026 / shared | 3.18 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 sbc h1_sbc | H1 2026 / shared | 30.78 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 billings h1_billings | H1 2026 / shared | 510.74 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 deferred funding h1_deferred_funding | H1 2026 / shared | 115.61 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 receivables use h1_receivables_use | H1 2026 / shared | 60.98 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 commission cash h1_commission_cash | H1 2026 / shared | 49.08 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 commission amort h1_commission_amort | H1 2026 / shared | 35.29 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 withholding h1_withholding | H1 2026 / shared | 19.79 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| H1 buybacks h1_buybacks | H1 2026 / shared | 131.49 USD_millions | reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-08-06 |
| Cylinder before acquisition h1_cylinder | H1 2026 / shared | 0.00 USD_millions | reported: Cylinder was not consolidated before the September close. Primary source · 2026-09-01 |
| H1 cash after PP&E h1_fcf | H1 2026 / shared | 144.29 USD_millions | derived: Generic PP&E-only historical cash definition. Formula: subtract(h1_cfo, h1_capex). |
| H1 company FCF h1_company_fcf | H1 2026 / shared | 141.11 USD_millions | derived: Includes software investment; no current-period IPO payroll-tax addback. Formula: subtract(h1_fcf, h1_software). |
| H1 cash after software and award withholding h1_cash_after_deal | H1 2026 / shared | 121.32 USD_millions | derived: No H1 acquisition cash; excludes $131.491M repurchases. Formula: subtract(h1_company_fcf, h1_withholding). |
| unrestricted liquidity unrestricted_liquidity | 2026Q2 / shared | 474.13 USD_millions | reported: Consolidated amount in millions; unrestricted liquidity includes short- and long-term marketable securities. Primary source · 2026-08-06 |
| restricted cash restricted_cash | 2026Q2 / shared | 1.44 USD_millions | reported: Consolidated amount in millions; unrestricted liquidity includes short- and long-term marketable securities. Primary source · 2026-08-06 |
| deferred revenue deferred_revenue | 2026Q2 / shared | 416.47 USD_millions | reported: Consolidated amount in millions; unrestricted liquidity includes short- and long-term marketable securities. Primary source · 2026-08-06 |
| Announced Cylinder cash consideration cylinder_announced_price | September 2026 / shared | 105.00 USD_millions | management guidance: August agreed cash consideration; September closing confirmed, final closing adjustments not yet reported. Primary source · 2026-08-04 |
| lease base rent lease_base_rent | August 2026 / shared | 86.00 USD_millions | reported: Commitment/allowance from the new office lease; not all current cash or expense. Primary source · 2026-08-21 |
| lease allowance lease_allowance | August 2026 / shared | 17.90 USD_millions | reported: Commitment/allowance from the new office lease; not all current cash or expense. Primary source · 2026-08-21 |
| lease letter credit lease_letter_credit | August 2026 / shared | 2.80 USD_millions | reported: Commitment/allowance from the new office lease; not all current cash or expense. Primary source · 2026-08-21 |
| Available repurchase authorization July 29 buyback_available | July 2026 / shared | 300.00 USD_millions | reported: Authorization is not executed spending; $496.5M aggregate authorization with $196.5M used as of July 29. Primary source · 2026-08-04 |
| August FY2026 total revenue outlook low fy26_revenue_guide_low | FY2026 / shared | 856.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August FY2026 total revenue outlook high fy26_revenue_guide_high | FY2026 / shared | 860.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| Midpoint divisor two | Model / shared | 200.0% ratio | assumption: Arithmetic constant. |
| August FY2026 total revenue outlook endpoint sum fy26_revenue_guide_sum | FY2026 / shared | 1,716.00 USD_millions | derived: Arithmetic intermediate. Formula: sum(fy26_revenue_guide_low, fy26_revenue_guide_high). |
| August FY2026 total revenue outlook midpoint fy26_revenue_guide | FY2026 / shared | 858.00 USD_millions | derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(fy26_revenue_guide_sum, two). |
| August Q3 total revenue outlook low q3_revenue_guide_low | 2026Q3 / shared | 223.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August Q3 total revenue outlook high q3_revenue_guide_high | 2026Q3 / shared | 225.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August Q3 total revenue outlook endpoint sum q3_revenue_guide_sum | 2026Q3 / shared | 448.00 USD_millions | derived: Arithmetic intermediate. Formula: sum(q3_revenue_guide_low, q3_revenue_guide_high). |
| August Q3 total revenue outlook midpoint q3_revenue_guide | 2026Q3 / shared | 224.00 USD_millions | derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(q3_revenue_guide_sum, two). |
| August FY2026 non-GAAP operating income low fy26_adjusted_guide_low | FY2026 / shared | 236.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August FY2026 non-GAAP operating income high fy26_adjusted_guide_high | FY2026 / shared | 244.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August FY2026 non-GAAP operating income endpoint sum fy26_adjusted_guide_sum | FY2026 / shared | 480.00 USD_millions | derived: Arithmetic intermediate. Formula: sum(fy26_adjusted_guide_low, fy26_adjusted_guide_high). |
| August FY2026 non-GAAP operating income midpoint fy26_adjusted_guide | FY2026 / shared | 240.00 USD_millions | derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(fy26_adjusted_guide_sum, two). |
| August Q3 non-GAAP operating income low q3_adjusted_guide_low | 2026Q3 / shared | 61.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August Q3 non-GAAP operating income high q3_adjusted_guide_high | 2026Q3 / shared | 63.00 USD_millions | management guidance: Company guidance; not a desk forecast. Primary source · 2026-08-04 |
| August Q3 non-GAAP operating income endpoint sum q3_adjusted_guide_sum | 2026Q3 / shared | 124.00 USD_millions | derived: Arithmetic intermediate. Formula: sum(q3_adjusted_guide_low, q3_adjusted_guide_high). |
| August Q3 non-GAAP operating income midpoint q3_adjusted_guide | 2026Q3 / shared | 62.00 USD_millions | derived: Calculated midpoint of the company range; not an additional company forecast. Formula: divide(q3_adjusted_guide_sum, two). |
| FY2026 delivery versus August reference downside_delivery | FY2026 / downside | 95.0% ratio | assumption: Desk delivery sensitivity, not a post-close management revision. |
| FY2026 opfactor versus August reference downside_opfactor | FY2026 / downside | 85.0% ratio | assumption: Desk delivery sensitivity, not a post-close management revision. |
| FY2026 revenue downside_fy26_revenue_target | FY2026 / downside | 815.10 USD_millions | derived: August midpoint used as scenario reference. Formula: multiply(fy26_revenue_guide, downside_delivery). |
| H2 revenue downside_h2_revenue | H2 2026 / downside | 419.98 USD_millions | derived: Annual scenario less H1 actual. Formula: subtract(downside_fy26_revenue_target, h1_revenue). |
| FY2026 adjusted_operating_income downside_fy26_adjusted_operating_income_target | FY2026 / downside | 204.00 USD_millions | derived: August midpoint used as scenario reference. Formula: multiply(fy26_adjusted_guide, downside_opfactor). |
| H2 adjusted_operating_income downside_h2_adjusted_operating_income | H2 2026 / downside | 96.32 USD_millions | derived: Annual scenario less H1 actual. Formula: subtract(downside_fy26_adjusted_operating_income_target, h1_adjusted_operating_income). |
| FY2026 Cylinder contribution downside_fy26_cylinder | FY2026 / downside | 8.00 USD_millions | assumption: Desk post-close sales allocation already included within annual consolidated revenue. |
| FY2026 legacy-business sales downside_fy26_core | FY2026 / downside | 807.10 USD_millions | derived: No acquired revenue added twice. Formula: subtract(downside_fy26_revenue_target, downside_fy26_cylinder). |
| FY2027 legacy growth multiplier downside_core_growth | FY2027 / downside | 118.0% ratio | assumption: Desk engagement and customer expansion assumption. |
| FY2027 legacy revenue downside_fy27_core | FY2027 / downside | 952.38 USD_millions | derived: Legacy growth separate from acquired business. Formula: multiply(downside_fy26_core, downside_core_growth). |
| FY2027 Cylinder revenue downside_fy27_cylinder | FY2027 / downside | 30.00 USD_millions | assumption: Desk assumption; no standalone revenue guidance disclosed. |
| Cylinder revenue downside_2026q3_cylinder | 2026Q3 / downside | 2.00 USD_millions | assumption: Provisional consolidated contribution following September 1 closing; not disclosed actual acquired revenue. |
| Consolidated revenue downside_2026q3_revenue | 2026Q3 / downside | 212.80 USD_millions | derived: August Q3 guidance reference times sensitivity. Formula: multiply(q3_revenue_guide, downside_delivery). |
| Legacy revenue downside_2026q3_core | 2026Q3 / downside | 210.80 USD_millions | derived: Cylinder allocation is within total sales. Formula: subtract(downside_2026q3_revenue, downside_2026q3_cylinder). |
| Non-GAAP operating income downside_2026q3_adjusted_operating_income | 2026Q3 / downside | 52.70 USD_millions | derived: August Q3 adjusted operating reference. Formula: multiply(q3_adjusted_guide, downside_opfactor). |
| core GAAP gross margin downside_2026q3_core_gross_margin | 2026Q3 / downside | 82.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit downside_2026q3_core_gross | 2026Q3 / downside | 172.86 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2026q3_core, downside_2026q3_core_gross_margin). |
| cylinder GAAP gross margin downside_2026q3_cylinder_gross_margin | 2026Q3 / downside | 55.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit downside_2026q3_cylinder_gross | 2026Q3 / downside | 1.10 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2026q3_cylinder, downside_2026q3_cylinder_gross_margin). |
| GAAP gross profit proxy downside_2026q3_gross_profit | 2026Q3 / downside | 173.96 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(downside_2026q3_core_gross, downside_2026q3_cylinder_gross). |
| Total stock compensation expense downside_2026q3_sbc | 2026Q3 / downside | 24.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization downside_2026q3_amort | 2026Q3 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards downside_2026q3_sbc_payroll | 2026Q3 / downside | 1.70 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs downside_2026q3_acquisition_costs | 2026Q3 / downside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses downside_2026q3_gaap_adjustments | 2026Q3 / downside | 28.70 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(downside_2026q3_sbc, downside_2026q3_amort, downside_2026q3_sbc_payroll, downside_2026q3_acquisition_costs). |
| GAAP operating income downside_2026q3_operating_income | 2026Q3 / downside | 24.00 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(downside_2026q3_adjusted_operating_income, downside_2026q3_gaap_adjustments). |
| Investment income downside_2026q3_interest | 2026Q3 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference downside_2026q3_pretax | 2026Q3 / downside | 27.00 USD_millions | derived: Desk recurring investment income. Formula: sum(downside_2026q3_operating_income, downside_2026q3_interest). |
| Cash tax / pretax income downside_2026q3_tax_rate | 2026Q3 / downside | 5.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance downside_2026q3_cash_tax | 2026Q3 / downside | 1.35 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(downside_2026q3_pretax, downside_2026q3_tax_rate). |
| After-tax earnings reference downside_2026q3_after_tax | 2026Q3 / downside | 25.65 USD_millions | derived: Simplified tax timing. Formula: subtract(downside_2026q3_pretax, downside_2026q3_cash_tax). |
| Other depreciation downside_2026q3_depreciation | 2026Q3 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization downside_2026q3_commission_amort | 2026Q3 / downside | 20.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs downside_2026q3_before_commissions | 2026Q3 / downside | 71.65 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(downside_2026q3_after_tax, downside_2026q3_sbc, downside_2026q3_amort, downside_2026q3_depreciation, downside_2026q3_commission_amort). |
| Commission cash / sales downside_2026q3_commission_rate | 2026Q3 / downside | 14.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash downside_2026q3_commission_cash | 2026Q3 / downside | 29.79 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(downside_2026q3_revenue, downside_2026q3_commission_rate). |
| Billings / recognized revenue downside_2026q3_billing_ratio | 2026Q3 / downside | 108.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings downside_2026q3_billings | 2026Q3 / downside | 229.82 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(downside_2026q3_revenue, downside_2026q3_billing_ratio). |
| Deferred revenue funding from operations downside_2026q3_deferred_funding | 2026Q3 / downside | 17.02 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(downside_2026q3_billings, downside_2026q3_revenue). |
| Cash earnings plus advance-billing funding downside_2026q3_cash_before_uses | 2026Q3 / downside | 88.67 USD_millions | derived: Collection timing is handled separately. Formula: sum(downside_2026q3_before_commissions, downside_2026q3_deferred_funding). |
| Receivables and other operating cash use downside_2026q3_receivables_other | 2026Q3 / downside | 25.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use downside_2026q3_cash_uses | 2026Q3 / downside | 54.79 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(downside_2026q3_commission_cash, downside_2026q3_receivables_other). |
| Operating cash flow downside_2026q3_cfo | 2026Q3 / downside | 33.88 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(downside_2026q3_cash_before_uses, downside_2026q3_cash_uses). |
| Gross PP&E purchases downside_2026q3_capex | 2026Q3 / downside | 2.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash downside_2026q3_software | 2026Q3 / downside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E downside_2026q3_fcf | 2026Q3 / downside | 31.88 USD_millions | derived: Generic historical cash measure. Formula: subtract(downside_2026q3_cfo, downside_2026q3_capex). |
| CFO less PP&E and software downside_2026q3_company_fcf | 2026Q3 / downside | 29.88 USD_millions | derived: Current-period company FCF definition. Formula: subtract(downside_2026q3_fcf, downside_2026q3_software). |
| Share of announced purchase cash in quarter downside_2026q3_deal_timing | 2026Q3 / downside | 100.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption downside_2026q3_deal_cash | 2026Q3 / downside | 105.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, downside_2026q3_deal_timing). |
| Cash taxes on net-settled awards downside_2026q3_withholding | 2026Q3 / downside | 12.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash downside_2026q3_capital_uses | 2026Q3 / downside | 117.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(downside_2026q3_deal_cash, downside_2026q3_withholding). |
| Cash after software, awards and acquisition downside_2026q3_cash_after_deal | 2026Q3 / downside | -87.12 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(downside_2026q3_company_fcf, downside_2026q3_capital_uses). |
| Cylinder revenue downside_2026q4_cylinder | 2026Q4 / downside | 6.00 USD_millions | assumption: Provisional consolidated contribution following September 1 closing; not disclosed actual acquired revenue. |
| Consolidated revenue downside_2026q4_revenue | 2026Q4 / downside | 207.18 USD_millions | derived: Annual total scenario less actual H1 and forecast Q3. Formula: subtract(downside_h2_revenue, downside_2026q3_revenue). |
| Legacy revenue downside_2026q4_core | 2026Q4 / downside | 201.18 USD_millions | derived: Cylinder allocation is within total sales. Formula: subtract(downside_2026q4_revenue, downside_2026q4_cylinder). |
| Non-GAAP operating income downside_2026q4_adjusted_operating_income | 2026Q4 / downside | 43.62 USD_millions | derived: Remaining annual adjusted operating result. Formula: subtract(downside_h2_adjusted_operating_income, downside_2026q3_adjusted_operating_income). |
| core GAAP gross margin downside_2026q4_core_gross_margin | 2026Q4 / downside | 82.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit downside_2026q4_core_gross | 2026Q4 / downside | 164.96 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2026q4_core, downside_2026q4_core_gross_margin). |
| cylinder GAAP gross margin downside_2026q4_cylinder_gross_margin | 2026Q4 / downside | 55.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit downside_2026q4_cylinder_gross | 2026Q4 / downside | 3.30 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2026q4_cylinder, downside_2026q4_cylinder_gross_margin). |
| GAAP gross profit proxy downside_2026q4_gross_profit | 2026Q4 / downside | 168.26 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(downside_2026q4_core_gross, downside_2026q4_cylinder_gross). |
| Total stock compensation expense downside_2026q4_sbc | 2026Q4 / downside | 26.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization downside_2026q4_amort | 2026Q4 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards downside_2026q4_sbc_payroll | 2026Q4 / downside | 1.70 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs downside_2026q4_acquisition_costs | 2026Q4 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses downside_2026q4_gaap_adjustments | 2026Q4 / downside | 29.70 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(downside_2026q4_sbc, downside_2026q4_amort, downside_2026q4_sbc_payroll, downside_2026q4_acquisition_costs). |
| GAAP operating income downside_2026q4_operating_income | 2026Q4 / downside | 13.92 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(downside_2026q4_adjusted_operating_income, downside_2026q4_gaap_adjustments). |
| Investment income downside_2026q4_interest | 2026Q4 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference downside_2026q4_pretax | 2026Q4 / downside | 16.92 USD_millions | derived: Desk recurring investment income. Formula: sum(downside_2026q4_operating_income, downside_2026q4_interest). |
| Cash tax / pretax income downside_2026q4_tax_rate | 2026Q4 / downside | 5.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance downside_2026q4_cash_tax | 2026Q4 / downside | 0.85 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(downside_2026q4_pretax, downside_2026q4_tax_rate). |
| After-tax earnings reference downside_2026q4_after_tax | 2026Q4 / downside | 16.08 USD_millions | derived: Simplified tax timing. Formula: subtract(downside_2026q4_pretax, downside_2026q4_cash_tax). |
| Other depreciation downside_2026q4_depreciation | 2026Q4 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization downside_2026q4_commission_amort | 2026Q4 / downside | 22.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs downside_2026q4_before_commissions | 2026Q4 / downside | 66.08 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(downside_2026q4_after_tax, downside_2026q4_sbc, downside_2026q4_amort, downside_2026q4_depreciation, downside_2026q4_commission_amort). |
| Commission cash / sales downside_2026q4_commission_rate | 2026Q4 / downside | 14.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash downside_2026q4_commission_cash | 2026Q4 / downside | 29.00 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(downside_2026q4_revenue, downside_2026q4_commission_rate). |
| Billings / recognized revenue downside_2026q4_billing_ratio | 2026Q4 / downside | 90.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings downside_2026q4_billings | 2026Q4 / downside | 186.46 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(downside_2026q4_revenue, downside_2026q4_billing_ratio). |
| Deferred revenue funding from operations downside_2026q4_deferred_funding | 2026Q4 / downside | -20.72 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(downside_2026q4_billings, downside_2026q4_revenue). |
| Cash earnings plus advance-billing funding downside_2026q4_cash_before_uses | 2026Q4 / downside | 45.36 USD_millions | derived: Collection timing is handled separately. Formula: sum(downside_2026q4_before_commissions, downside_2026q4_deferred_funding). |
| Receivables and other operating cash use downside_2026q4_receivables_other | 2026Q4 / downside | 0.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use downside_2026q4_cash_uses | 2026Q4 / downside | 29.00 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(downside_2026q4_commission_cash, downside_2026q4_receivables_other). |
| Operating cash flow downside_2026q4_cfo | 2026Q4 / downside | 16.36 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(downside_2026q4_cash_before_uses, downside_2026q4_cash_uses). |
| Gross PP&E purchases downside_2026q4_capex | 2026Q4 / downside | 2.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash downside_2026q4_software | 2026Q4 / downside | 2.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E downside_2026q4_fcf | 2026Q4 / downside | 14.36 USD_millions | derived: Generic historical cash measure. Formula: subtract(downside_2026q4_cfo, downside_2026q4_capex). |
| CFO less PP&E and software downside_2026q4_company_fcf | 2026Q4 / downside | 11.86 USD_millions | derived: Current-period company FCF definition. Formula: subtract(downside_2026q4_fcf, downside_2026q4_software). |
| Share of announced purchase cash in quarter downside_2026q4_deal_timing | 2026Q4 / downside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption downside_2026q4_deal_cash | 2026Q4 / downside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, downside_2026q4_deal_timing). |
| Cash taxes on net-settled awards downside_2026q4_withholding | 2026Q4 / downside | 13.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash downside_2026q4_capital_uses | 2026Q4 / downside | 13.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(downside_2026q4_deal_cash, downside_2026q4_withholding). |
| Cash after software, awards and acquisition downside_2026q4_cash_after_deal | 2026Q4 / downside | -1.14 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(downside_2026q4_company_fcf, downside_2026q4_capital_uses). |
| Annual revenue quarter share downside_2027q1_weight | 2027Q1 / downside | 22.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue downside_2027q1_core | 2027Q1 / downside | 209.52 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(downside_fy27_core, downside_2027q1_weight). |
| Cylinder revenue downside_2027q1_cylinder | 2027Q1 / downside | 6.60 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(downside_fy27_cylinder, downside_2027q1_weight). |
| Consolidated revenue downside_2027q1_revenue | 2027Q1 / downside | 216.12 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(downside_2027q1_core, downside_2027q1_cylinder). |
| core adjusted operating margin downside_2027q1_core_op_margin | 2027Q1 / downside | 25.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income downside_2027q1_core_adjusted_op | 2027Q1 / downside | 52.38 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q1_core, downside_2027q1_core_op_margin). |
| cylinder adjusted operating margin downside_2027q1_cylinder_op_margin | 2027Q1 / downside | -10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income downside_2027q1_cylinder_adjusted_op | 2027Q1 / downside | -0.66 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q1_cylinder, downside_2027q1_cylinder_op_margin). |
| Non-GAAP operating income downside_2027q1_adjusted_operating_income | 2027Q1 / downside | 51.72 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(downside_2027q1_core_adjusted_op, downside_2027q1_cylinder_adjusted_op). |
| core GAAP gross margin downside_2027q1_core_gross_margin | 2027Q1 / downside | 82.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit downside_2027q1_core_gross | 2027Q1 / downside | 171.81 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q1_core, downside_2027q1_core_gross_margin). |
| cylinder GAAP gross margin downside_2027q1_cylinder_gross_margin | 2027Q1 / downside | 55.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit downside_2027q1_cylinder_gross | 2027Q1 / downside | 3.63 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q1_cylinder, downside_2027q1_cylinder_gross_margin). |
| GAAP gross profit proxy downside_2027q1_gross_profit | 2027Q1 / downside | 175.44 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(downside_2027q1_core_gross, downside_2027q1_cylinder_gross). |
| Total stock compensation expense downside_2027q1_sbc | 2027Q1 / downside | 29.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization downside_2027q1_amort | 2027Q1 / downside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards downside_2027q1_sbc_payroll | 2027Q1 / downside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs downside_2027q1_acquisition_costs | 2027Q1 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses downside_2027q1_gaap_adjustments | 2027Q1 / downside | 34.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(downside_2027q1_sbc, downside_2027q1_amort, downside_2027q1_sbc_payroll, downside_2027q1_acquisition_costs). |
| GAAP operating income downside_2027q1_operating_income | 2027Q1 / downside | 17.52 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(downside_2027q1_adjusted_operating_income, downside_2027q1_gaap_adjustments). |
| Investment income downside_2027q1_interest | 2027Q1 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference downside_2027q1_pretax | 2027Q1 / downside | 20.52 USD_millions | derived: Desk recurring investment income. Formula: sum(downside_2027q1_operating_income, downside_2027q1_interest). |
| Cash tax / pretax income downside_2027q1_tax_rate | 2027Q1 / downside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance downside_2027q1_cash_tax | 2027Q1 / downside | 3.08 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(downside_2027q1_pretax, downside_2027q1_tax_rate). |
| After-tax earnings reference downside_2027q1_after_tax | 2027Q1 / downside | 17.44 USD_millions | derived: Simplified tax timing. Formula: subtract(downside_2027q1_pretax, downside_2027q1_cash_tax). |
| Other depreciation downside_2027q1_depreciation | 2027Q1 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization downside_2027q1_commission_amort | 2027Q1 / downside | 24.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs downside_2027q1_before_commissions | 2027Q1 / downside | 73.44 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(downside_2027q1_after_tax, downside_2027q1_sbc, downside_2027q1_amort, downside_2027q1_depreciation, downside_2027q1_commission_amort). |
| Commission cash / sales downside_2027q1_commission_rate | 2027Q1 / downside | 14.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash downside_2027q1_commission_cash | 2027Q1 / downside | 30.26 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(downside_2027q1_revenue, downside_2027q1_commission_rate). |
| Billings / recognized revenue downside_2027q1_billing_ratio | 2027Q1 / downside | 115.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings downside_2027q1_billings | 2027Q1 / downside | 248.54 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(downside_2027q1_revenue, downside_2027q1_billing_ratio). |
| Deferred revenue funding from operations downside_2027q1_deferred_funding | 2027Q1 / downside | 32.42 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(downside_2027q1_billings, downside_2027q1_revenue). |
| Cash earnings plus advance-billing funding downside_2027q1_cash_before_uses | 2027Q1 / downside | 105.86 USD_millions | derived: Collection timing is handled separately. Formula: sum(downside_2027q1_before_commissions, downside_2027q1_deferred_funding). |
| Receivables and other operating cash use downside_2027q1_receivables_other | 2027Q1 / downside | 35.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use downside_2027q1_cash_uses | 2027Q1 / downside | 65.26 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(downside_2027q1_commission_cash, downside_2027q1_receivables_other). |
| Operating cash flow downside_2027q1_cfo | 2027Q1 / downside | 40.60 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(downside_2027q1_cash_before_uses, downside_2027q1_cash_uses). |
| Gross PP&E purchases downside_2027q1_capex | 2027Q1 / downside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash downside_2027q1_software | 2027Q1 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E downside_2027q1_fcf | 2027Q1 / downside | 37.60 USD_millions | derived: Generic historical cash measure. Formula: subtract(downside_2027q1_cfo, downside_2027q1_capex). |
| CFO less PP&E and software downside_2027q1_company_fcf | 2027Q1 / downside | 34.60 USD_millions | derived: Current-period company FCF definition. Formula: subtract(downside_2027q1_fcf, downside_2027q1_software). |
| Share of announced purchase cash in quarter downside_2027q1_deal_timing | 2027Q1 / downside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption downside_2027q1_deal_cash | 2027Q1 / downside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, downside_2027q1_deal_timing). |
| Cash taxes on net-settled awards downside_2027q1_withholding | 2027Q1 / downside | 14.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash downside_2027q1_capital_uses | 2027Q1 / downside | 14.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(downside_2027q1_deal_cash, downside_2027q1_withholding). |
| Cash after software, awards and acquisition downside_2027q1_cash_after_deal | 2027Q1 / downside | 20.60 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(downside_2027q1_company_fcf, downside_2027q1_capital_uses). |
| Annual revenue quarter share downside_2027q2_weight | 2027Q2 / downside | 24.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue downside_2027q2_core | 2027Q2 / downside | 228.57 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(downside_fy27_core, downside_2027q2_weight). |
| Cylinder revenue downside_2027q2_cylinder | 2027Q2 / downside | 7.20 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(downside_fy27_cylinder, downside_2027q2_weight). |
| Consolidated revenue downside_2027q2_revenue | 2027Q2 / downside | 235.77 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(downside_2027q2_core, downside_2027q2_cylinder). |
| core adjusted operating margin downside_2027q2_core_op_margin | 2027Q2 / downside | 25.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income downside_2027q2_core_adjusted_op | 2027Q2 / downside | 57.14 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q2_core, downside_2027q2_core_op_margin). |
| cylinder adjusted operating margin downside_2027q2_cylinder_op_margin | 2027Q2 / downside | -10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income downside_2027q2_cylinder_adjusted_op | 2027Q2 / downside | -0.72 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q2_cylinder, downside_2027q2_cylinder_op_margin). |
| Non-GAAP operating income downside_2027q2_adjusted_operating_income | 2027Q2 / downside | 56.42 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(downside_2027q2_core_adjusted_op, downside_2027q2_cylinder_adjusted_op). |
| core GAAP gross margin downside_2027q2_core_gross_margin | 2027Q2 / downside | 82.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit downside_2027q2_core_gross | 2027Q2 / downside | 187.43 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q2_core, downside_2027q2_core_gross_margin). |
| cylinder GAAP gross margin downside_2027q2_cylinder_gross_margin | 2027Q2 / downside | 55.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit downside_2027q2_cylinder_gross | 2027Q2 / downside | 3.96 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q2_cylinder, downside_2027q2_cylinder_gross_margin). |
| GAAP gross profit proxy downside_2027q2_gross_profit | 2027Q2 / downside | 191.39 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(downside_2027q2_core_gross, downside_2027q2_cylinder_gross). |
| Total stock compensation expense downside_2027q2_sbc | 2027Q2 / downside | 32.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization downside_2027q2_amort | 2027Q2 / downside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards downside_2027q2_sbc_payroll | 2027Q2 / downside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs downside_2027q2_acquisition_costs | 2027Q2 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses downside_2027q2_gaap_adjustments | 2027Q2 / downside | 37.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(downside_2027q2_sbc, downside_2027q2_amort, downside_2027q2_sbc_payroll, downside_2027q2_acquisition_costs). |
| GAAP operating income downside_2027q2_operating_income | 2027Q2 / downside | 19.22 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(downside_2027q2_adjusted_operating_income, downside_2027q2_gaap_adjustments). |
| Investment income downside_2027q2_interest | 2027Q2 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference downside_2027q2_pretax | 2027Q2 / downside | 22.22 USD_millions | derived: Desk recurring investment income. Formula: sum(downside_2027q2_operating_income, downside_2027q2_interest). |
| Cash tax / pretax income downside_2027q2_tax_rate | 2027Q2 / downside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance downside_2027q2_cash_tax | 2027Q2 / downside | 3.33 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(downside_2027q2_pretax, downside_2027q2_tax_rate). |
| After-tax earnings reference downside_2027q2_after_tax | 2027Q2 / downside | 18.89 USD_millions | derived: Simplified tax timing. Formula: subtract(downside_2027q2_pretax, downside_2027q2_cash_tax). |
| Other depreciation downside_2027q2_depreciation | 2027Q2 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization downside_2027q2_commission_amort | 2027Q2 / downside | 26.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs downside_2027q2_before_commissions | 2027Q2 / downside | 79.89 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(downside_2027q2_after_tax, downside_2027q2_sbc, downside_2027q2_amort, downside_2027q2_depreciation, downside_2027q2_commission_amort). |
| Commission cash / sales downside_2027q2_commission_rate | 2027Q2 / downside | 14.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash downside_2027q2_commission_cash | 2027Q2 / downside | 33.01 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(downside_2027q2_revenue, downside_2027q2_commission_rate). |
| Billings / recognized revenue downside_2027q2_billing_ratio | 2027Q2 / downside | 115.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings downside_2027q2_billings | 2027Q2 / downside | 271.14 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(downside_2027q2_revenue, downside_2027q2_billing_ratio). |
| Deferred revenue funding from operations downside_2027q2_deferred_funding | 2027Q2 / downside | 35.37 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(downside_2027q2_billings, downside_2027q2_revenue). |
| Cash earnings plus advance-billing funding downside_2027q2_cash_before_uses | 2027Q2 / downside | 115.25 USD_millions | derived: Collection timing is handled separately. Formula: sum(downside_2027q2_before_commissions, downside_2027q2_deferred_funding). |
| Receivables and other operating cash use downside_2027q2_receivables_other | 2027Q2 / downside | 35.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use downside_2027q2_cash_uses | 2027Q2 / downside | 68.01 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(downside_2027q2_commission_cash, downside_2027q2_receivables_other). |
| Operating cash flow downside_2027q2_cfo | 2027Q2 / downside | 47.25 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(downside_2027q2_cash_before_uses, downside_2027q2_cash_uses). |
| Gross PP&E purchases downside_2027q2_capex | 2027Q2 / downside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash downside_2027q2_software | 2027Q2 / downside | 3.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E downside_2027q2_fcf | 2027Q2 / downside | 44.25 USD_millions | derived: Generic historical cash measure. Formula: subtract(downside_2027q2_cfo, downside_2027q2_capex). |
| CFO less PP&E and software downside_2027q2_company_fcf | 2027Q2 / downside | 40.75 USD_millions | derived: Current-period company FCF definition. Formula: subtract(downside_2027q2_fcf, downside_2027q2_software). |
| Share of announced purchase cash in quarter downside_2027q2_deal_timing | 2027Q2 / downside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption downside_2027q2_deal_cash | 2027Q2 / downside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, downside_2027q2_deal_timing). |
| Cash taxes on net-settled awards downside_2027q2_withholding | 2027Q2 / downside | 15.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash downside_2027q2_capital_uses | 2027Q2 / downside | 15.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(downside_2027q2_deal_cash, downside_2027q2_withholding). |
| Cash after software, awards and acquisition downside_2027q2_cash_after_deal | 2027Q2 / downside | 25.75 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(downside_2027q2_company_fcf, downside_2027q2_capital_uses). |
| Annual revenue quarter share downside_2027q3_weight | 2027Q3 / downside | 26.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue downside_2027q3_core | 2027Q3 / downside | 247.62 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(downside_fy27_core, downside_2027q3_weight). |
| Cylinder revenue downside_2027q3_cylinder | 2027Q3 / downside | 7.80 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(downside_fy27_cylinder, downside_2027q3_weight). |
| Consolidated revenue downside_2027q3_revenue | 2027Q3 / downside | 255.42 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(downside_2027q3_core, downside_2027q3_cylinder). |
| core adjusted operating margin downside_2027q3_core_op_margin | 2027Q3 / downside | 25.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income downside_2027q3_core_adjusted_op | 2027Q3 / downside | 61.90 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q3_core, downside_2027q3_core_op_margin). |
| cylinder adjusted operating margin downside_2027q3_cylinder_op_margin | 2027Q3 / downside | -10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income downside_2027q3_cylinder_adjusted_op | 2027Q3 / downside | -0.78 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q3_cylinder, downside_2027q3_cylinder_op_margin). |
| Non-GAAP operating income downside_2027q3_adjusted_operating_income | 2027Q3 / downside | 61.12 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(downside_2027q3_core_adjusted_op, downside_2027q3_cylinder_adjusted_op). |
| core GAAP gross margin downside_2027q3_core_gross_margin | 2027Q3 / downside | 82.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit downside_2027q3_core_gross | 2027Q3 / downside | 203.05 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q3_core, downside_2027q3_core_gross_margin). |
| cylinder GAAP gross margin downside_2027q3_cylinder_gross_margin | 2027Q3 / downside | 55.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit downside_2027q3_cylinder_gross | 2027Q3 / downside | 4.29 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q3_cylinder, downside_2027q3_cylinder_gross_margin). |
| GAAP gross profit proxy downside_2027q3_gross_profit | 2027Q3 / downside | 207.34 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(downside_2027q3_core_gross, downside_2027q3_cylinder_gross). |
| Total stock compensation expense downside_2027q3_sbc | 2027Q3 / downside | 35.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization downside_2027q3_amort | 2027Q3 / downside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards downside_2027q3_sbc_payroll | 2027Q3 / downside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs downside_2027q3_acquisition_costs | 2027Q3 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses downside_2027q3_gaap_adjustments | 2027Q3 / downside | 40.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(downside_2027q3_sbc, downside_2027q3_amort, downside_2027q3_sbc_payroll, downside_2027q3_acquisition_costs). |
| GAAP operating income downside_2027q3_operating_income | 2027Q3 / downside | 20.92 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(downside_2027q3_adjusted_operating_income, downside_2027q3_gaap_adjustments). |
| Investment income downside_2027q3_interest | 2027Q3 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference downside_2027q3_pretax | 2027Q3 / downside | 23.92 USD_millions | derived: Desk recurring investment income. Formula: sum(downside_2027q3_operating_income, downside_2027q3_interest). |
| Cash tax / pretax income downside_2027q3_tax_rate | 2027Q3 / downside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance downside_2027q3_cash_tax | 2027Q3 / downside | 3.59 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(downside_2027q3_pretax, downside_2027q3_tax_rate). |
| After-tax earnings reference downside_2027q3_after_tax | 2027Q3 / downside | 20.34 USD_millions | derived: Simplified tax timing. Formula: subtract(downside_2027q3_pretax, downside_2027q3_cash_tax). |
| Other depreciation downside_2027q3_depreciation | 2027Q3 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization downside_2027q3_commission_amort | 2027Q3 / downside | 28.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs downside_2027q3_before_commissions | 2027Q3 / downside | 86.34 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(downside_2027q3_after_tax, downside_2027q3_sbc, downside_2027q3_amort, downside_2027q3_depreciation, downside_2027q3_commission_amort). |
| Commission cash / sales downside_2027q3_commission_rate | 2027Q3 / downside | 14.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash downside_2027q3_commission_cash | 2027Q3 / downside | 35.76 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(downside_2027q3_revenue, downside_2027q3_commission_rate). |
| Billings / recognized revenue downside_2027q3_billing_ratio | 2027Q3 / downside | 110.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings downside_2027q3_billings | 2027Q3 / downside | 280.96 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(downside_2027q3_revenue, downside_2027q3_billing_ratio). |
| Deferred revenue funding from operations downside_2027q3_deferred_funding | 2027Q3 / downside | 25.54 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(downside_2027q3_billings, downside_2027q3_revenue). |
| Cash earnings plus advance-billing funding downside_2027q3_cash_before_uses | 2027Q3 / downside | 111.88 USD_millions | derived: Collection timing is handled separately. Formula: sum(downside_2027q3_before_commissions, downside_2027q3_deferred_funding). |
| Receivables and other operating cash use downside_2027q3_receivables_other | 2027Q3 / downside | 30.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use downside_2027q3_cash_uses | 2027Q3 / downside | 65.76 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(downside_2027q3_commission_cash, downside_2027q3_receivables_other). |
| Operating cash flow downside_2027q3_cfo | 2027Q3 / downside | 46.12 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(downside_2027q3_cash_before_uses, downside_2027q3_cash_uses). |
| Gross PP&E purchases downside_2027q3_capex | 2027Q3 / downside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash downside_2027q3_software | 2027Q3 / downside | 4.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E downside_2027q3_fcf | 2027Q3 / downside | 43.12 USD_millions | derived: Generic historical cash measure. Formula: subtract(downside_2027q3_cfo, downside_2027q3_capex). |
| CFO less PP&E and software downside_2027q3_company_fcf | 2027Q3 / downside | 39.12 USD_millions | derived: Current-period company FCF definition. Formula: subtract(downside_2027q3_fcf, downside_2027q3_software). |
| Share of announced purchase cash in quarter downside_2027q3_deal_timing | 2027Q3 / downside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption downside_2027q3_deal_cash | 2027Q3 / downside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, downside_2027q3_deal_timing). |
| Cash taxes on net-settled awards downside_2027q3_withholding | 2027Q3 / downside | 16.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash downside_2027q3_capital_uses | 2027Q3 / downside | 16.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(downside_2027q3_deal_cash, downside_2027q3_withholding). |
| Cash after software, awards and acquisition downside_2027q3_cash_after_deal | 2027Q3 / downside | 23.12 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(downside_2027q3_company_fcf, downside_2027q3_capital_uses). |
| Annual revenue quarter share downside_2027q4_weight | 2027Q4 / downside | 28.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue downside_2027q4_core | 2027Q4 / downside | 266.67 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(downside_fy27_core, downside_2027q4_weight). |
| Cylinder revenue downside_2027q4_cylinder | 2027Q4 / downside | 8.40 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(downside_fy27_cylinder, downside_2027q4_weight). |
| Consolidated revenue downside_2027q4_revenue | 2027Q4 / downside | 275.07 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(downside_2027q4_core, downside_2027q4_cylinder). |
| core adjusted operating margin downside_2027q4_core_op_margin | 2027Q4 / downside | 25.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income downside_2027q4_core_adjusted_op | 2027Q4 / downside | 66.67 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q4_core, downside_2027q4_core_op_margin). |
| cylinder adjusted operating margin downside_2027q4_cylinder_op_margin | 2027Q4 / downside | -10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income downside_2027q4_cylinder_adjusted_op | 2027Q4 / downside | -0.84 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(downside_2027q4_cylinder, downside_2027q4_cylinder_op_margin). |
| Non-GAAP operating income downside_2027q4_adjusted_operating_income | 2027Q4 / downside | 65.83 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(downside_2027q4_core_adjusted_op, downside_2027q4_cylinder_adjusted_op). |
| core GAAP gross margin downside_2027q4_core_gross_margin | 2027Q4 / downside | 82.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit downside_2027q4_core_gross | 2027Q4 / downside | 218.67 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q4_core, downside_2027q4_core_gross_margin). |
| cylinder GAAP gross margin downside_2027q4_cylinder_gross_margin | 2027Q4 / downside | 55.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit downside_2027q4_cylinder_gross | 2027Q4 / downside | 4.62 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(downside_2027q4_cylinder, downside_2027q4_cylinder_gross_margin). |
| GAAP gross profit proxy downside_2027q4_gross_profit | 2027Q4 / downside | 223.29 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(downside_2027q4_core_gross, downside_2027q4_cylinder_gross). |
| Total stock compensation expense downside_2027q4_sbc | 2027Q4 / downside | 38.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization downside_2027q4_amort | 2027Q4 / downside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards downside_2027q4_sbc_payroll | 2027Q4 / downside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs downside_2027q4_acquisition_costs | 2027Q4 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses downside_2027q4_gaap_adjustments | 2027Q4 / downside | 43.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(downside_2027q4_sbc, downside_2027q4_amort, downside_2027q4_sbc_payroll, downside_2027q4_acquisition_costs). |
| GAAP operating income downside_2027q4_operating_income | 2027Q4 / downside | 22.63 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(downside_2027q4_adjusted_operating_income, downside_2027q4_gaap_adjustments). |
| Investment income downside_2027q4_interest | 2027Q4 / downside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference downside_2027q4_pretax | 2027Q4 / downside | 25.63 USD_millions | derived: Desk recurring investment income. Formula: sum(downside_2027q4_operating_income, downside_2027q4_interest). |
| Cash tax / pretax income downside_2027q4_tax_rate | 2027Q4 / downside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance downside_2027q4_cash_tax | 2027Q4 / downside | 3.84 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(downside_2027q4_pretax, downside_2027q4_tax_rate). |
| After-tax earnings reference downside_2027q4_after_tax | 2027Q4 / downside | 21.78 USD_millions | derived: Simplified tax timing. Formula: subtract(downside_2027q4_pretax, downside_2027q4_cash_tax). |
| Other depreciation downside_2027q4_depreciation | 2027Q4 / downside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization downside_2027q4_commission_amort | 2027Q4 / downside | 30.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs downside_2027q4_before_commissions | 2027Q4 / downside | 92.78 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(downside_2027q4_after_tax, downside_2027q4_sbc, downside_2027q4_amort, downside_2027q4_depreciation, downside_2027q4_commission_amort). |
| Commission cash / sales downside_2027q4_commission_rate | 2027Q4 / downside | 14.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash downside_2027q4_commission_cash | 2027Q4 / downside | 38.51 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(downside_2027q4_revenue, downside_2027q4_commission_rate). |
| Billings / recognized revenue downside_2027q4_billing_ratio | 2027Q4 / downside | 90.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings downside_2027q4_billings | 2027Q4 / downside | 247.56 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(downside_2027q4_revenue, downside_2027q4_billing_ratio). |
| Deferred revenue funding from operations downside_2027q4_deferred_funding | 2027Q4 / downside | -27.51 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(downside_2027q4_billings, downside_2027q4_revenue). |
| Cash earnings plus advance-billing funding downside_2027q4_cash_before_uses | 2027Q4 / downside | 65.28 USD_millions | derived: Collection timing is handled separately. Formula: sum(downside_2027q4_before_commissions, downside_2027q4_deferred_funding). |
| Receivables and other operating cash use downside_2027q4_receivables_other | 2027Q4 / downside | 5.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use downside_2027q4_cash_uses | 2027Q4 / downside | 43.51 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(downside_2027q4_commission_cash, downside_2027q4_receivables_other). |
| Operating cash flow downside_2027q4_cfo | 2027Q4 / downside | 21.77 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(downside_2027q4_cash_before_uses, downside_2027q4_cash_uses). |
| Gross PP&E purchases downside_2027q4_capex | 2027Q4 / downside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash downside_2027q4_software | 2027Q4 / downside | 4.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E downside_2027q4_fcf | 2027Q4 / downside | 18.77 USD_millions | derived: Generic historical cash measure. Formula: subtract(downside_2027q4_cfo, downside_2027q4_capex). |
| CFO less PP&E and software downside_2027q4_company_fcf | 2027Q4 / downside | 14.27 USD_millions | derived: Current-period company FCF definition. Formula: subtract(downside_2027q4_fcf, downside_2027q4_software). |
| Share of announced purchase cash in quarter downside_2027q4_deal_timing | 2027Q4 / downside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption downside_2027q4_deal_cash | 2027Q4 / downside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, downside_2027q4_deal_timing). |
| Cash taxes on net-settled awards downside_2027q4_withholding | 2027Q4 / downside | 17.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash downside_2027q4_capital_uses | 2027Q4 / downside | 17.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(downside_2027q4_deal_cash, downside_2027q4_withholding). |
| Cash after software, awards and acquisition downside_2027q4_cash_after_deal | 2027Q4 / downside | -2.73 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(downside_2027q4_company_fcf, downside_2027q4_capital_uses). |
| Consolidated revenue ($M) downside_fy2026_revenue | FY2026 / downside | 815.10 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, downside_2026q3_revenue, downside_2026q4_revenue). |
| Cylinder revenue assumption ($M) downside_fy2026_cylinder | FY2026 / downside | 8.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cylinder, downside_2026q3_cylinder, downside_2026q4_cylinder). |
| GAAP gross profit proxy ($M) downside_fy2026_gross_profit | FY2026 / downside | 680.40 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_gross_profit, downside_2026q3_gross_profit, downside_2026q4_gross_profit). |
| Non-GAAP operating income ($M) downside_fy2026_adjusted_operating_income | FY2026 / downside | 204.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adjusted_operating_income, downside_2026q3_adjusted_operating_income, downside_2026q4_adjusted_operating_income). |
| GAAP operating income ($M) downside_fy2026_operating_income | FY2026 / downside | 110.43 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, downside_2026q3_operating_income, downside_2026q4_operating_income). |
| Operating cash flow ($M) downside_fy2026_cfo | FY2026 / downside | 194.73 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, downside_2026q3_cfo, downside_2026q4_cfo). |
| PP&E cash purchases ($M) downside_fy2026_capex | FY2026 / downside | 4.21 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, downside_2026q3_capex, downside_2026q4_capex). |
| Capitalized software cash ($M) downside_fy2026_software | FY2026 / downside | 7.68 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_software, downside_2026q3_software, downside_2026q4_software). |
| CFO less PP&E ($M) downside_fy2026_fcf | FY2026 / downside | 190.53 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, downside_2026q3_fcf, downside_2026q4_fcf). |
| CFO less PP&E and software ($M) downside_fy2026_company_fcf | FY2026 / downside | 182.85 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_company_fcf, downside_2026q3_company_fcf, downside_2026q4_company_fcf). |
| Cash after software, awards and acquisition ($M) downside_fy2026_cash_after_deal | FY2026 / downside | 33.06 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_deal, downside_2026q3_cash_after_deal, downside_2026q4_cash_after_deal). |
| Consolidated revenue ($M) downside_fy2027_revenue | FY2027 / downside | 982.38 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_revenue, downside_2027q2_revenue, downside_2027q3_revenue, downside_2027q4_revenue). |
| Cylinder revenue assumption ($M) downside_fy2027_cylinder | FY2027 / downside | 30.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cylinder, downside_2027q2_cylinder, downside_2027q3_cylinder, downside_2027q4_cylinder). |
| GAAP gross profit proxy ($M) downside_fy2027_gross_profit | FY2027 / downside | 797.45 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_gross_profit, downside_2027q2_gross_profit, downside_2027q3_gross_profit, downside_2027q4_gross_profit). |
| Non-GAAP operating income ($M) downside_fy2027_adjusted_operating_income | FY2027 / downside | 235.09 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_adjusted_operating_income, downside_2027q2_adjusted_operating_income, downside_2027q3_adjusted_operating_income, downside_2027q4_adjusted_operating_income). |
| GAAP operating income ($M) downside_fy2027_operating_income | FY2027 / downside | 80.29 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_operating_income, downside_2027q2_operating_income, downside_2027q3_operating_income, downside_2027q4_operating_income). |
| Operating cash flow ($M) downside_fy2027_cfo | FY2027 / downside | 155.74 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cfo, downside_2027q2_cfo, downside_2027q3_cfo, downside_2027q4_cfo). |
| PP&E cash purchases ($M) downside_fy2027_capex | FY2027 / downside | 12.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_capex, downside_2027q2_capex, downside_2027q3_capex, downside_2027q4_capex). |
| Capitalized software cash ($M) downside_fy2027_software | FY2027 / downside | 15.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_software, downside_2027q2_software, downside_2027q3_software, downside_2027q4_software). |
| CFO less PP&E ($M) downside_fy2027_fcf | FY2027 / downside | 143.74 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_fcf, downside_2027q2_fcf, downside_2027q3_fcf, downside_2027q4_fcf). |
| CFO less PP&E and software ($M) downside_fy2027_company_fcf | FY2027 / downside | 128.74 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_company_fcf, downside_2027q2_company_fcf, downside_2027q3_company_fcf, downside_2027q4_company_fcf). |
| Cash after software, awards and acquisition ($M) downside_fy2027_cash_after_deal | FY2027 / downside | 66.74 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cash_after_deal, downside_2027q2_cash_after_deal, downside_2027q3_cash_after_deal, downside_2027q4_cash_after_deal). |
| FY2026 delivery versus August reference base_delivery | FY2026 / base | 100.0% ratio | assumption: Desk delivery sensitivity, not a post-close management revision. |
| FY2026 opfactor versus August reference base_opfactor | FY2026 / base | 100.0% ratio | assumption: Desk delivery sensitivity, not a post-close management revision. |
| FY2026 revenue base_fy26_revenue_target | FY2026 / base | 858.00 USD_millions | derived: August midpoint used as scenario reference. Formula: multiply(fy26_revenue_guide, base_delivery). |
| H2 revenue base_h2_revenue | H2 2026 / base | 462.88 USD_millions | derived: Annual scenario less H1 actual. Formula: subtract(base_fy26_revenue_target, h1_revenue). |
| FY2026 adjusted_operating_income base_fy26_adjusted_operating_income_target | FY2026 / base | 240.00 USD_millions | derived: August midpoint used as scenario reference. Formula: multiply(fy26_adjusted_guide, base_opfactor). |
| H2 adjusted_operating_income base_h2_adjusted_operating_income | H2 2026 / base | 132.32 USD_millions | derived: Annual scenario less H1 actual. Formula: subtract(base_fy26_adjusted_operating_income_target, h1_adjusted_operating_income). |
| FY2026 Cylinder contribution base_fy26_cylinder | FY2026 / base | 12.00 USD_millions | assumption: Desk post-close sales allocation already included within annual consolidated revenue. |
| FY2026 legacy-business sales base_fy26_core | FY2026 / base | 846.00 USD_millions | derived: No acquired revenue added twice. Formula: subtract(base_fy26_revenue_target, base_fy26_cylinder). |
| FY2027 legacy growth multiplier base_core_growth | FY2027 / base | 132.0% ratio | assumption: Desk engagement and customer expansion assumption. |
| FY2027 legacy revenue base_fy27_core | FY2027 / base | 1,116.72 USD_millions | derived: Legacy growth separate from acquired business. Formula: multiply(base_fy26_core, base_core_growth). |
| FY2027 Cylinder revenue base_fy27_cylinder | FY2027 / base | 50.00 USD_millions | assumption: Desk assumption; no standalone revenue guidance disclosed. |
| Cylinder revenue base_2026q3_cylinder | 2026Q3 / base | 3.00 USD_millions | assumption: Provisional consolidated contribution following September 1 closing; not disclosed actual acquired revenue. |
| Consolidated revenue base_2026q3_revenue | 2026Q3 / base | 224.00 USD_millions | derived: August Q3 guidance reference times sensitivity. Formula: multiply(q3_revenue_guide, base_delivery). |
| Legacy revenue base_2026q3_core | 2026Q3 / base | 221.00 USD_millions | derived: Cylinder allocation is within total sales. Formula: subtract(base_2026q3_revenue, base_2026q3_cylinder). |
| Non-GAAP operating income base_2026q3_adjusted_operating_income | 2026Q3 / base | 62.00 USD_millions | derived: August Q3 adjusted operating reference. Formula: multiply(q3_adjusted_guide, base_opfactor). |
| core GAAP gross margin base_2026q3_core_gross_margin | 2026Q3 / base | 86.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit base_2026q3_core_gross | 2026Q3 / base | 190.06 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2026q3_core, base_2026q3_core_gross_margin). |
| cylinder GAAP gross margin base_2026q3_cylinder_gross_margin | 2026Q3 / base | 65.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit base_2026q3_cylinder_gross | 2026Q3 / base | 1.95 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2026q3_cylinder, base_2026q3_cylinder_gross_margin). |
| GAAP gross profit proxy base_2026q3_gross_profit | 2026Q3 / base | 192.01 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(base_2026q3_core_gross, base_2026q3_cylinder_gross). |
| Total stock compensation expense base_2026q3_sbc | 2026Q3 / base | 23.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization base_2026q3_amort | 2026Q3 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards base_2026q3_sbc_payroll | 2026Q3 / base | 1.70 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs base_2026q3_acquisition_costs | 2026Q3 / base | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses base_2026q3_gaap_adjustments | 2026Q3 / base | 27.70 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(base_2026q3_sbc, base_2026q3_amort, base_2026q3_sbc_payroll, base_2026q3_acquisition_costs). |
| GAAP operating income base_2026q3_operating_income | 2026Q3 / base | 34.30 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(base_2026q3_adjusted_operating_income, base_2026q3_gaap_adjustments). |
| Investment income base_2026q3_interest | 2026Q3 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference base_2026q3_pretax | 2026Q3 / base | 37.30 USD_millions | derived: Desk recurring investment income. Formula: sum(base_2026q3_operating_income, base_2026q3_interest). |
| Cash tax / pretax income base_2026q3_tax_rate | 2026Q3 / base | 5.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance base_2026q3_cash_tax | 2026Q3 / base | 1.86 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(base_2026q3_pretax, base_2026q3_tax_rate). |
| After-tax earnings reference base_2026q3_after_tax | 2026Q3 / base | 35.43 USD_millions | derived: Simplified tax timing. Formula: subtract(base_2026q3_pretax, base_2026q3_cash_tax). |
| Other depreciation base_2026q3_depreciation | 2026Q3 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization base_2026q3_commission_amort | 2026Q3 / base | 20.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs base_2026q3_before_commissions | 2026Q3 / base | 80.44 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(base_2026q3_after_tax, base_2026q3_sbc, base_2026q3_amort, base_2026q3_depreciation, base_2026q3_commission_amort). |
| Commission cash / sales base_2026q3_commission_rate | 2026Q3 / base | 12.5% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash base_2026q3_commission_cash | 2026Q3 / base | 28.00 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(base_2026q3_revenue, base_2026q3_commission_rate). |
| Billings / recognized revenue base_2026q3_billing_ratio | 2026Q3 / base | 118.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings base_2026q3_billings | 2026Q3 / base | 264.32 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(base_2026q3_revenue, base_2026q3_billing_ratio). |
| Deferred revenue funding from operations base_2026q3_deferred_funding | 2026Q3 / base | 40.32 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(base_2026q3_billings, base_2026q3_revenue). |
| Cash earnings plus advance-billing funding base_2026q3_cash_before_uses | 2026Q3 / base | 120.75 USD_millions | derived: Collection timing is handled separately. Formula: sum(base_2026q3_before_commissions, base_2026q3_deferred_funding). |
| Receivables and other operating cash use base_2026q3_receivables_other | 2026Q3 / base | 20.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use base_2026q3_cash_uses | 2026Q3 / base | 48.00 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(base_2026q3_commission_cash, base_2026q3_receivables_other). |
| Operating cash flow base_2026q3_cfo | 2026Q3 / base | 72.75 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(base_2026q3_cash_before_uses, base_2026q3_cash_uses). |
| Gross PP&E purchases base_2026q3_capex | 2026Q3 / base | 2.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash base_2026q3_software | 2026Q3 / base | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E base_2026q3_fcf | 2026Q3 / base | 70.75 USD_millions | derived: Generic historical cash measure. Formula: subtract(base_2026q3_cfo, base_2026q3_capex). |
| CFO less PP&E and software base_2026q3_company_fcf | 2026Q3 / base | 68.75 USD_millions | derived: Current-period company FCF definition. Formula: subtract(base_2026q3_fcf, base_2026q3_software). |
| Share of announced purchase cash in quarter base_2026q3_deal_timing | 2026Q3 / base | 100.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption base_2026q3_deal_cash | 2026Q3 / base | 105.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, base_2026q3_deal_timing). |
| Cash taxes on net-settled awards base_2026q3_withholding | 2026Q3 / base | 12.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash base_2026q3_capital_uses | 2026Q3 / base | 117.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(base_2026q3_deal_cash, base_2026q3_withholding). |
| Cash after software, awards and acquisition base_2026q3_cash_after_deal | 2026Q3 / base | -48.25 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(base_2026q3_company_fcf, base_2026q3_capital_uses). |
| Cylinder revenue base_2026q4_cylinder | 2026Q4 / base | 9.00 USD_millions | assumption: Provisional consolidated contribution following September 1 closing; not disclosed actual acquired revenue. |
| Consolidated revenue base_2026q4_revenue | 2026Q4 / base | 238.88 USD_millions | derived: Annual total scenario less actual H1 and forecast Q3. Formula: subtract(base_h2_revenue, base_2026q3_revenue). |
| Legacy revenue base_2026q4_core | 2026Q4 / base | 229.88 USD_millions | derived: Cylinder allocation is within total sales. Formula: subtract(base_2026q4_revenue, base_2026q4_cylinder). |
| Non-GAAP operating income base_2026q4_adjusted_operating_income | 2026Q4 / base | 70.32 USD_millions | derived: Remaining annual adjusted operating result. Formula: subtract(base_h2_adjusted_operating_income, base_2026q3_adjusted_operating_income). |
| core GAAP gross margin base_2026q4_core_gross_margin | 2026Q4 / base | 86.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit base_2026q4_core_gross | 2026Q4 / base | 197.69 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2026q4_core, base_2026q4_core_gross_margin). |
| cylinder GAAP gross margin base_2026q4_cylinder_gross_margin | 2026Q4 / base | 65.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit base_2026q4_cylinder_gross | 2026Q4 / base | 5.85 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2026q4_cylinder, base_2026q4_cylinder_gross_margin). |
| GAAP gross profit proxy base_2026q4_gross_profit | 2026Q4 / base | 203.54 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(base_2026q4_core_gross, base_2026q4_cylinder_gross). |
| Total stock compensation expense base_2026q4_sbc | 2026Q4 / base | 25.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization base_2026q4_amort | 2026Q4 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards base_2026q4_sbc_payroll | 2026Q4 / base | 1.70 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs base_2026q4_acquisition_costs | 2026Q4 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses base_2026q4_gaap_adjustments | 2026Q4 / base | 28.70 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(base_2026q4_sbc, base_2026q4_amort, base_2026q4_sbc_payroll, base_2026q4_acquisition_costs). |
| GAAP operating income base_2026q4_operating_income | 2026Q4 / base | 41.62 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(base_2026q4_adjusted_operating_income, base_2026q4_gaap_adjustments). |
| Investment income base_2026q4_interest | 2026Q4 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference base_2026q4_pretax | 2026Q4 / base | 44.62 USD_millions | derived: Desk recurring investment income. Formula: sum(base_2026q4_operating_income, base_2026q4_interest). |
| Cash tax / pretax income base_2026q4_tax_rate | 2026Q4 / base | 5.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance base_2026q4_cash_tax | 2026Q4 / base | 2.23 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(base_2026q4_pretax, base_2026q4_tax_rate). |
| After-tax earnings reference base_2026q4_after_tax | 2026Q4 / base | 42.39 USD_millions | derived: Simplified tax timing. Formula: subtract(base_2026q4_pretax, base_2026q4_cash_tax). |
| Other depreciation base_2026q4_depreciation | 2026Q4 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization base_2026q4_commission_amort | 2026Q4 / base | 22.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs base_2026q4_before_commissions | 2026Q4 / base | 91.39 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(base_2026q4_after_tax, base_2026q4_sbc, base_2026q4_amort, base_2026q4_depreciation, base_2026q4_commission_amort). |
| Commission cash / sales base_2026q4_commission_rate | 2026Q4 / base | 12.5% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash base_2026q4_commission_cash | 2026Q4 / base | 29.86 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(base_2026q4_revenue, base_2026q4_commission_rate). |
| Billings / recognized revenue base_2026q4_billing_ratio | 2026Q4 / base | 90.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings base_2026q4_billings | 2026Q4 / base | 214.99 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(base_2026q4_revenue, base_2026q4_billing_ratio). |
| Deferred revenue funding from operations base_2026q4_deferred_funding | 2026Q4 / base | -23.89 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(base_2026q4_billings, base_2026q4_revenue). |
| Cash earnings plus advance-billing funding base_2026q4_cash_before_uses | 2026Q4 / base | 67.51 USD_millions | derived: Collection timing is handled separately. Formula: sum(base_2026q4_before_commissions, base_2026q4_deferred_funding). |
| Receivables and other operating cash use base_2026q4_receivables_other | 2026Q4 / base | -10.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use base_2026q4_cash_uses | 2026Q4 / base | 19.86 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(base_2026q4_commission_cash, base_2026q4_receivables_other). |
| Operating cash flow base_2026q4_cfo | 2026Q4 / base | 47.65 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(base_2026q4_cash_before_uses, base_2026q4_cash_uses). |
| Gross PP&E purchases base_2026q4_capex | 2026Q4 / base | 2.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash base_2026q4_software | 2026Q4 / base | 2.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E base_2026q4_fcf | 2026Q4 / base | 45.65 USD_millions | derived: Generic historical cash measure. Formula: subtract(base_2026q4_cfo, base_2026q4_capex). |
| CFO less PP&E and software base_2026q4_company_fcf | 2026Q4 / base | 43.15 USD_millions | derived: Current-period company FCF definition. Formula: subtract(base_2026q4_fcf, base_2026q4_software). |
| Share of announced purchase cash in quarter base_2026q4_deal_timing | 2026Q4 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption base_2026q4_deal_cash | 2026Q4 / base | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, base_2026q4_deal_timing). |
| Cash taxes on net-settled awards base_2026q4_withholding | 2026Q4 / base | 13.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash base_2026q4_capital_uses | 2026Q4 / base | 13.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(base_2026q4_deal_cash, base_2026q4_withholding). |
| Cash after software, awards and acquisition base_2026q4_cash_after_deal | 2026Q4 / base | 30.15 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(base_2026q4_company_fcf, base_2026q4_capital_uses). |
| Annual revenue quarter share base_2027q1_weight | 2027Q1 / base | 22.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue base_2027q1_core | 2027Q1 / base | 245.68 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(base_fy27_core, base_2027q1_weight). |
| Cylinder revenue base_2027q1_cylinder | 2027Q1 / base | 11.00 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(base_fy27_cylinder, base_2027q1_weight). |
| Consolidated revenue base_2027q1_revenue | 2027Q1 / base | 256.68 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(base_2027q1_core, base_2027q1_cylinder). |
| core adjusted operating margin base_2027q1_core_op_margin | 2027Q1 / base | 30.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income base_2027q1_core_adjusted_op | 2027Q1 / base | 73.70 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q1_core, base_2027q1_core_op_margin). |
| cylinder adjusted operating margin base_2027q1_cylinder_op_margin | 2027Q1 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income base_2027q1_cylinder_adjusted_op | 2027Q1 / base | 0.00 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q1_cylinder, base_2027q1_cylinder_op_margin). |
| Non-GAAP operating income base_2027q1_adjusted_operating_income | 2027Q1 / base | 73.70 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(base_2027q1_core_adjusted_op, base_2027q1_cylinder_adjusted_op). |
| core GAAP gross margin base_2027q1_core_gross_margin | 2027Q1 / base | 86.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit base_2027q1_core_gross | 2027Q1 / base | 211.28 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q1_core, base_2027q1_core_gross_margin). |
| cylinder GAAP gross margin base_2027q1_cylinder_gross_margin | 2027Q1 / base | 65.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit base_2027q1_cylinder_gross | 2027Q1 / base | 7.15 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q1_cylinder, base_2027q1_cylinder_gross_margin). |
| GAAP gross profit proxy base_2027q1_gross_profit | 2027Q1 / base | 218.43 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(base_2027q1_core_gross, base_2027q1_cylinder_gross). |
| Total stock compensation expense base_2027q1_sbc | 2027Q1 / base | 28.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization base_2027q1_amort | 2027Q1 / base | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards base_2027q1_sbc_payroll | 2027Q1 / base | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs base_2027q1_acquisition_costs | 2027Q1 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses base_2027q1_gaap_adjustments | 2027Q1 / base | 33.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(base_2027q1_sbc, base_2027q1_amort, base_2027q1_sbc_payroll, base_2027q1_acquisition_costs). |
| GAAP operating income base_2027q1_operating_income | 2027Q1 / base | 40.50 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(base_2027q1_adjusted_operating_income, base_2027q1_gaap_adjustments). |
| Investment income base_2027q1_interest | 2027Q1 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference base_2027q1_pretax | 2027Q1 / base | 43.50 USD_millions | derived: Desk recurring investment income. Formula: sum(base_2027q1_operating_income, base_2027q1_interest). |
| Cash tax / pretax income base_2027q1_tax_rate | 2027Q1 / base | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance base_2027q1_cash_tax | 2027Q1 / base | 6.53 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(base_2027q1_pretax, base_2027q1_tax_rate). |
| After-tax earnings reference base_2027q1_after_tax | 2027Q1 / base | 36.98 USD_millions | derived: Simplified tax timing. Formula: subtract(base_2027q1_pretax, base_2027q1_cash_tax). |
| Other depreciation base_2027q1_depreciation | 2027Q1 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization base_2027q1_commission_amort | 2027Q1 / base | 24.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs base_2027q1_before_commissions | 2027Q1 / base | 91.98 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(base_2027q1_after_tax, base_2027q1_sbc, base_2027q1_amort, base_2027q1_depreciation, base_2027q1_commission_amort). |
| Commission cash / sales base_2027q1_commission_rate | 2027Q1 / base | 12.5% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash base_2027q1_commission_cash | 2027Q1 / base | 32.08 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(base_2027q1_revenue, base_2027q1_commission_rate). |
| Billings / recognized revenue base_2027q1_billing_ratio | 2027Q1 / base | 120.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings base_2027q1_billings | 2027Q1 / base | 308.01 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(base_2027q1_revenue, base_2027q1_billing_ratio). |
| Deferred revenue funding from operations base_2027q1_deferred_funding | 2027Q1 / base | 51.34 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(base_2027q1_billings, base_2027q1_revenue). |
| Cash earnings plus advance-billing funding base_2027q1_cash_before_uses | 2027Q1 / base | 143.31 USD_millions | derived: Collection timing is handled separately. Formula: sum(base_2027q1_before_commissions, base_2027q1_deferred_funding). |
| Receivables and other operating cash use base_2027q1_receivables_other | 2027Q1 / base | 30.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use base_2027q1_cash_uses | 2027Q1 / base | 62.08 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(base_2027q1_commission_cash, base_2027q1_receivables_other). |
| Operating cash flow base_2027q1_cfo | 2027Q1 / base | 81.23 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(base_2027q1_cash_before_uses, base_2027q1_cash_uses). |
| Gross PP&E purchases base_2027q1_capex | 2027Q1 / base | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash base_2027q1_software | 2027Q1 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E base_2027q1_fcf | 2027Q1 / base | 78.23 USD_millions | derived: Generic historical cash measure. Formula: subtract(base_2027q1_cfo, base_2027q1_capex). |
| CFO less PP&E and software base_2027q1_company_fcf | 2027Q1 / base | 75.23 USD_millions | derived: Current-period company FCF definition. Formula: subtract(base_2027q1_fcf, base_2027q1_software). |
| Share of announced purchase cash in quarter base_2027q1_deal_timing | 2027Q1 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption base_2027q1_deal_cash | 2027Q1 / base | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, base_2027q1_deal_timing). |
| Cash taxes on net-settled awards base_2027q1_withholding | 2027Q1 / base | 14.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash base_2027q1_capital_uses | 2027Q1 / base | 14.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(base_2027q1_deal_cash, base_2027q1_withholding). |
| Cash after software, awards and acquisition base_2027q1_cash_after_deal | 2027Q1 / base | 61.23 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(base_2027q1_company_fcf, base_2027q1_capital_uses). |
| Annual revenue quarter share base_2027q2_weight | 2027Q2 / base | 24.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue base_2027q2_core | 2027Q2 / base | 268.01 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(base_fy27_core, base_2027q2_weight). |
| Cylinder revenue base_2027q2_cylinder | 2027Q2 / base | 12.00 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(base_fy27_cylinder, base_2027q2_weight). |
| Consolidated revenue base_2027q2_revenue | 2027Q2 / base | 280.01 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(base_2027q2_core, base_2027q2_cylinder). |
| core adjusted operating margin base_2027q2_core_op_margin | 2027Q2 / base | 30.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income base_2027q2_core_adjusted_op | 2027Q2 / base | 80.40 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q2_core, base_2027q2_core_op_margin). |
| cylinder adjusted operating margin base_2027q2_cylinder_op_margin | 2027Q2 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income base_2027q2_cylinder_adjusted_op | 2027Q2 / base | 0.00 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q2_cylinder, base_2027q2_cylinder_op_margin). |
| Non-GAAP operating income base_2027q2_adjusted_operating_income | 2027Q2 / base | 80.40 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(base_2027q2_core_adjusted_op, base_2027q2_cylinder_adjusted_op). |
| core GAAP gross margin base_2027q2_core_gross_margin | 2027Q2 / base | 86.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit base_2027q2_core_gross | 2027Q2 / base | 230.49 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q2_core, base_2027q2_core_gross_margin). |
| cylinder GAAP gross margin base_2027q2_cylinder_gross_margin | 2027Q2 / base | 65.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit base_2027q2_cylinder_gross | 2027Q2 / base | 7.80 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q2_cylinder, base_2027q2_cylinder_gross_margin). |
| GAAP gross profit proxy base_2027q2_gross_profit | 2027Q2 / base | 238.29 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(base_2027q2_core_gross, base_2027q2_cylinder_gross). |
| Total stock compensation expense base_2027q2_sbc | 2027Q2 / base | 31.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization base_2027q2_amort | 2027Q2 / base | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards base_2027q2_sbc_payroll | 2027Q2 / base | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs base_2027q2_acquisition_costs | 2027Q2 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses base_2027q2_gaap_adjustments | 2027Q2 / base | 36.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(base_2027q2_sbc, base_2027q2_amort, base_2027q2_sbc_payroll, base_2027q2_acquisition_costs). |
| GAAP operating income base_2027q2_operating_income | 2027Q2 / base | 44.20 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(base_2027q2_adjusted_operating_income, base_2027q2_gaap_adjustments). |
| Investment income base_2027q2_interest | 2027Q2 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference base_2027q2_pretax | 2027Q2 / base | 47.20 USD_millions | derived: Desk recurring investment income. Formula: sum(base_2027q2_operating_income, base_2027q2_interest). |
| Cash tax / pretax income base_2027q2_tax_rate | 2027Q2 / base | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance base_2027q2_cash_tax | 2027Q2 / base | 7.08 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(base_2027q2_pretax, base_2027q2_tax_rate). |
| After-tax earnings reference base_2027q2_after_tax | 2027Q2 / base | 40.12 USD_millions | derived: Simplified tax timing. Formula: subtract(base_2027q2_pretax, base_2027q2_cash_tax). |
| Other depreciation base_2027q2_depreciation | 2027Q2 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization base_2027q2_commission_amort | 2027Q2 / base | 26.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs base_2027q2_before_commissions | 2027Q2 / base | 100.12 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(base_2027q2_after_tax, base_2027q2_sbc, base_2027q2_amort, base_2027q2_depreciation, base_2027q2_commission_amort). |
| Commission cash / sales base_2027q2_commission_rate | 2027Q2 / base | 12.5% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash base_2027q2_commission_cash | 2027Q2 / base | 35.00 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(base_2027q2_revenue, base_2027q2_commission_rate). |
| Billings / recognized revenue base_2027q2_billing_ratio | 2027Q2 / base | 125.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings base_2027q2_billings | 2027Q2 / base | 350.02 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(base_2027q2_revenue, base_2027q2_billing_ratio). |
| Deferred revenue funding from operations base_2027q2_deferred_funding | 2027Q2 / base | 70.00 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(base_2027q2_billings, base_2027q2_revenue). |
| Cash earnings plus advance-billing funding base_2027q2_cash_before_uses | 2027Q2 / base | 170.13 USD_millions | derived: Collection timing is handled separately. Formula: sum(base_2027q2_before_commissions, base_2027q2_deferred_funding). |
| Receivables and other operating cash use base_2027q2_receivables_other | 2027Q2 / base | 35.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use base_2027q2_cash_uses | 2027Q2 / base | 70.00 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(base_2027q2_commission_cash, base_2027q2_receivables_other). |
| Operating cash flow base_2027q2_cfo | 2027Q2 / base | 100.12 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(base_2027q2_cash_before_uses, base_2027q2_cash_uses). |
| Gross PP&E purchases base_2027q2_capex | 2027Q2 / base | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash base_2027q2_software | 2027Q2 / base | 3.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E base_2027q2_fcf | 2027Q2 / base | 97.12 USD_millions | derived: Generic historical cash measure. Formula: subtract(base_2027q2_cfo, base_2027q2_capex). |
| CFO less PP&E and software base_2027q2_company_fcf | 2027Q2 / base | 93.62 USD_millions | derived: Current-period company FCF definition. Formula: subtract(base_2027q2_fcf, base_2027q2_software). |
| Share of announced purchase cash in quarter base_2027q2_deal_timing | 2027Q2 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption base_2027q2_deal_cash | 2027Q2 / base | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, base_2027q2_deal_timing). |
| Cash taxes on net-settled awards base_2027q2_withholding | 2027Q2 / base | 15.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash base_2027q2_capital_uses | 2027Q2 / base | 15.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(base_2027q2_deal_cash, base_2027q2_withholding). |
| Cash after software, awards and acquisition base_2027q2_cash_after_deal | 2027Q2 / base | 78.62 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(base_2027q2_company_fcf, base_2027q2_capital_uses). |
| Annual revenue quarter share base_2027q3_weight | 2027Q3 / base | 26.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue base_2027q3_core | 2027Q3 / base | 290.35 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(base_fy27_core, base_2027q3_weight). |
| Cylinder revenue base_2027q3_cylinder | 2027Q3 / base | 13.00 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(base_fy27_cylinder, base_2027q3_weight). |
| Consolidated revenue base_2027q3_revenue | 2027Q3 / base | 303.35 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(base_2027q3_core, base_2027q3_cylinder). |
| core adjusted operating margin base_2027q3_core_op_margin | 2027Q3 / base | 30.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income base_2027q3_core_adjusted_op | 2027Q3 / base | 87.10 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q3_core, base_2027q3_core_op_margin). |
| cylinder adjusted operating margin base_2027q3_cylinder_op_margin | 2027Q3 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income base_2027q3_cylinder_adjusted_op | 2027Q3 / base | 0.00 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q3_cylinder, base_2027q3_cylinder_op_margin). |
| Non-GAAP operating income base_2027q3_adjusted_operating_income | 2027Q3 / base | 87.10 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(base_2027q3_core_adjusted_op, base_2027q3_cylinder_adjusted_op). |
| core GAAP gross margin base_2027q3_core_gross_margin | 2027Q3 / base | 86.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit base_2027q3_core_gross | 2027Q3 / base | 249.70 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q3_core, base_2027q3_core_gross_margin). |
| cylinder GAAP gross margin base_2027q3_cylinder_gross_margin | 2027Q3 / base | 65.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit base_2027q3_cylinder_gross | 2027Q3 / base | 8.45 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q3_cylinder, base_2027q3_cylinder_gross_margin). |
| GAAP gross profit proxy base_2027q3_gross_profit | 2027Q3 / base | 258.15 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(base_2027q3_core_gross, base_2027q3_cylinder_gross). |
| Total stock compensation expense base_2027q3_sbc | 2027Q3 / base | 34.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization base_2027q3_amort | 2027Q3 / base | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards base_2027q3_sbc_payroll | 2027Q3 / base | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs base_2027q3_acquisition_costs | 2027Q3 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses base_2027q3_gaap_adjustments | 2027Q3 / base | 39.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(base_2027q3_sbc, base_2027q3_amort, base_2027q3_sbc_payroll, base_2027q3_acquisition_costs). |
| GAAP operating income base_2027q3_operating_income | 2027Q3 / base | 47.90 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(base_2027q3_adjusted_operating_income, base_2027q3_gaap_adjustments). |
| Investment income base_2027q3_interest | 2027Q3 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference base_2027q3_pretax | 2027Q3 / base | 50.90 USD_millions | derived: Desk recurring investment income. Formula: sum(base_2027q3_operating_income, base_2027q3_interest). |
| Cash tax / pretax income base_2027q3_tax_rate | 2027Q3 / base | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance base_2027q3_cash_tax | 2027Q3 / base | 7.64 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(base_2027q3_pretax, base_2027q3_tax_rate). |
| After-tax earnings reference base_2027q3_after_tax | 2027Q3 / base | 43.27 USD_millions | derived: Simplified tax timing. Formula: subtract(base_2027q3_pretax, base_2027q3_cash_tax). |
| Other depreciation base_2027q3_depreciation | 2027Q3 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization base_2027q3_commission_amort | 2027Q3 / base | 28.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs base_2027q3_before_commissions | 2027Q3 / base | 108.27 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(base_2027q3_after_tax, base_2027q3_sbc, base_2027q3_amort, base_2027q3_depreciation, base_2027q3_commission_amort). |
| Commission cash / sales base_2027q3_commission_rate | 2027Q3 / base | 12.5% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash base_2027q3_commission_cash | 2027Q3 / base | 37.92 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(base_2027q3_revenue, base_2027q3_commission_rate). |
| Billings / recognized revenue base_2027q3_billing_ratio | 2027Q3 / base | 115.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings base_2027q3_billings | 2027Q3 / base | 348.85 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(base_2027q3_revenue, base_2027q3_billing_ratio). |
| Deferred revenue funding from operations base_2027q3_deferred_funding | 2027Q3 / base | 45.50 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(base_2027q3_billings, base_2027q3_revenue). |
| Cash earnings plus advance-billing funding base_2027q3_cash_before_uses | 2027Q3 / base | 153.77 USD_millions | derived: Collection timing is handled separately. Formula: sum(base_2027q3_before_commissions, base_2027q3_deferred_funding). |
| Receivables and other operating cash use base_2027q3_receivables_other | 2027Q3 / base | 25.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use base_2027q3_cash_uses | 2027Q3 / base | 62.92 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(base_2027q3_commission_cash, base_2027q3_receivables_other). |
| Operating cash flow base_2027q3_cfo | 2027Q3 / base | 90.85 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(base_2027q3_cash_before_uses, base_2027q3_cash_uses). |
| Gross PP&E purchases base_2027q3_capex | 2027Q3 / base | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash base_2027q3_software | 2027Q3 / base | 4.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E base_2027q3_fcf | 2027Q3 / base | 87.85 USD_millions | derived: Generic historical cash measure. Formula: subtract(base_2027q3_cfo, base_2027q3_capex). |
| CFO less PP&E and software base_2027q3_company_fcf | 2027Q3 / base | 83.85 USD_millions | derived: Current-period company FCF definition. Formula: subtract(base_2027q3_fcf, base_2027q3_software). |
| Share of announced purchase cash in quarter base_2027q3_deal_timing | 2027Q3 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption base_2027q3_deal_cash | 2027Q3 / base | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, base_2027q3_deal_timing). |
| Cash taxes on net-settled awards base_2027q3_withholding | 2027Q3 / base | 16.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash base_2027q3_capital_uses | 2027Q3 / base | 16.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(base_2027q3_deal_cash, base_2027q3_withholding). |
| Cash after software, awards and acquisition base_2027q3_cash_after_deal | 2027Q3 / base | 67.85 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(base_2027q3_company_fcf, base_2027q3_capital_uses). |
| Annual revenue quarter share base_2027q4_weight | 2027Q4 / base | 28.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue base_2027q4_core | 2027Q4 / base | 312.68 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(base_fy27_core, base_2027q4_weight). |
| Cylinder revenue base_2027q4_cylinder | 2027Q4 / base | 14.00 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(base_fy27_cylinder, base_2027q4_weight). |
| Consolidated revenue base_2027q4_revenue | 2027Q4 / base | 326.68 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(base_2027q4_core, base_2027q4_cylinder). |
| core adjusted operating margin base_2027q4_core_op_margin | 2027Q4 / base | 30.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income base_2027q4_core_adjusted_op | 2027Q4 / base | 93.80 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q4_core, base_2027q4_core_op_margin). |
| cylinder adjusted operating margin base_2027q4_cylinder_op_margin | 2027Q4 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income base_2027q4_cylinder_adjusted_op | 2027Q4 / base | 0.00 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(base_2027q4_cylinder, base_2027q4_cylinder_op_margin). |
| Non-GAAP operating income base_2027q4_adjusted_operating_income | 2027Q4 / base | 93.80 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(base_2027q4_core_adjusted_op, base_2027q4_cylinder_adjusted_op). |
| core GAAP gross margin base_2027q4_core_gross_margin | 2027Q4 / base | 86.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit base_2027q4_core_gross | 2027Q4 / base | 268.91 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q4_core, base_2027q4_core_gross_margin). |
| cylinder GAAP gross margin base_2027q4_cylinder_gross_margin | 2027Q4 / base | 65.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit base_2027q4_cylinder_gross | 2027Q4 / base | 9.10 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(base_2027q4_cylinder, base_2027q4_cylinder_gross_margin). |
| GAAP gross profit proxy base_2027q4_gross_profit | 2027Q4 / base | 278.01 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(base_2027q4_core_gross, base_2027q4_cylinder_gross). |
| Total stock compensation expense base_2027q4_sbc | 2027Q4 / base | 37.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization base_2027q4_amort | 2027Q4 / base | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards base_2027q4_sbc_payroll | 2027Q4 / base | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs base_2027q4_acquisition_costs | 2027Q4 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses base_2027q4_gaap_adjustments | 2027Q4 / base | 42.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(base_2027q4_sbc, base_2027q4_amort, base_2027q4_sbc_payroll, base_2027q4_acquisition_costs). |
| GAAP operating income base_2027q4_operating_income | 2027Q4 / base | 51.60 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(base_2027q4_adjusted_operating_income, base_2027q4_gaap_adjustments). |
| Investment income base_2027q4_interest | 2027Q4 / base | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference base_2027q4_pretax | 2027Q4 / base | 54.60 USD_millions | derived: Desk recurring investment income. Formula: sum(base_2027q4_operating_income, base_2027q4_interest). |
| Cash tax / pretax income base_2027q4_tax_rate | 2027Q4 / base | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance base_2027q4_cash_tax | 2027Q4 / base | 8.19 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(base_2027q4_pretax, base_2027q4_tax_rate). |
| After-tax earnings reference base_2027q4_after_tax | 2027Q4 / base | 46.41 USD_millions | derived: Simplified tax timing. Formula: subtract(base_2027q4_pretax, base_2027q4_cash_tax). |
| Other depreciation base_2027q4_depreciation | 2027Q4 / base | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization base_2027q4_commission_amort | 2027Q4 / base | 30.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs base_2027q4_before_commissions | 2027Q4 / base | 116.41 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(base_2027q4_after_tax, base_2027q4_sbc, base_2027q4_amort, base_2027q4_depreciation, base_2027q4_commission_amort). |
| Commission cash / sales base_2027q4_commission_rate | 2027Q4 / base | 12.5% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash base_2027q4_commission_cash | 2027Q4 / base | 40.84 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(base_2027q4_revenue, base_2027q4_commission_rate). |
| Billings / recognized revenue base_2027q4_billing_ratio | 2027Q4 / base | 90.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings base_2027q4_billings | 2027Q4 / base | 294.01 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(base_2027q4_revenue, base_2027q4_billing_ratio). |
| Deferred revenue funding from operations base_2027q4_deferred_funding | 2027Q4 / base | -32.67 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(base_2027q4_billings, base_2027q4_revenue). |
| Cash earnings plus advance-billing funding base_2027q4_cash_before_uses | 2027Q4 / base | 83.75 USD_millions | derived: Collection timing is handled separately. Formula: sum(base_2027q4_before_commissions, base_2027q4_deferred_funding). |
| Receivables and other operating cash use base_2027q4_receivables_other | 2027Q4 / base | -15.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use base_2027q4_cash_uses | 2027Q4 / base | 25.84 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(base_2027q4_commission_cash, base_2027q4_receivables_other). |
| Operating cash flow base_2027q4_cfo | 2027Q4 / base | 57.91 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(base_2027q4_cash_before_uses, base_2027q4_cash_uses). |
| Gross PP&E purchases base_2027q4_capex | 2027Q4 / base | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash base_2027q4_software | 2027Q4 / base | 4.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E base_2027q4_fcf | 2027Q4 / base | 54.91 USD_millions | derived: Generic historical cash measure. Formula: subtract(base_2027q4_cfo, base_2027q4_capex). |
| CFO less PP&E and software base_2027q4_company_fcf | 2027Q4 / base | 50.41 USD_millions | derived: Current-period company FCF definition. Formula: subtract(base_2027q4_fcf, base_2027q4_software). |
| Share of announced purchase cash in quarter base_2027q4_deal_timing | 2027Q4 / base | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption base_2027q4_deal_cash | 2027Q4 / base | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, base_2027q4_deal_timing). |
| Cash taxes on net-settled awards base_2027q4_withholding | 2027Q4 / base | 17.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash base_2027q4_capital_uses | 2027Q4 / base | 17.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(base_2027q4_deal_cash, base_2027q4_withholding). |
| Cash after software, awards and acquisition base_2027q4_cash_after_deal | 2027Q4 / base | 33.41 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(base_2027q4_company_fcf, base_2027q4_capital_uses). |
| Consolidated revenue ($M) base_fy2026_revenue | FY2026 / base | 858.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, base_2026q3_revenue, base_2026q4_revenue). |
| Cylinder revenue assumption ($M) base_fy2026_cylinder | FY2026 / base | 12.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cylinder, base_2026q3_cylinder, base_2026q4_cylinder). |
| GAAP gross profit proxy ($M) base_fy2026_gross_profit | FY2026 / base | 733.74 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_gross_profit, base_2026q3_gross_profit, base_2026q4_gross_profit). |
| Non-GAAP operating income ($M) base_fy2026_adjusted_operating_income | FY2026 / base | 240.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adjusted_operating_income, base_2026q3_adjusted_operating_income, base_2026q4_adjusted_operating_income). |
| GAAP operating income ($M) base_fy2026_operating_income | FY2026 / base | 148.43 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, base_2026q3_operating_income, base_2026q4_operating_income). |
| Operating cash flow ($M) base_fy2026_cfo | FY2026 / base | 264.90 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, base_2026q3_cfo, base_2026q4_cfo). |
| PP&E cash purchases ($M) base_fy2026_capex | FY2026 / base | 4.21 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, base_2026q3_capex, base_2026q4_capex). |
| Capitalized software cash ($M) base_fy2026_software | FY2026 / base | 7.68 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_software, base_2026q3_software, base_2026q4_software). |
| CFO less PP&E ($M) base_fy2026_fcf | FY2026 / base | 260.69 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, base_2026q3_fcf, base_2026q4_fcf). |
| CFO less PP&E and software ($M) base_fy2026_company_fcf | FY2026 / base | 253.01 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_company_fcf, base_2026q3_company_fcf, base_2026q4_company_fcf). |
| Cash after software, awards and acquisition ($M) base_fy2026_cash_after_deal | FY2026 / base | 103.22 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_deal, base_2026q3_cash_after_deal, base_2026q4_cash_after_deal). |
| Consolidated revenue ($M) base_fy2027_revenue | FY2027 / base | 1,166.72 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_revenue, base_2027q2_revenue, base_2027q3_revenue, base_2027q4_revenue). |
| Cylinder revenue assumption ($M) base_fy2027_cylinder | FY2027 / base | 50.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cylinder, base_2027q2_cylinder, base_2027q3_cylinder, base_2027q4_cylinder). |
| GAAP gross profit proxy ($M) base_fy2027_gross_profit | FY2027 / base | 992.88 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_gross_profit, base_2027q2_gross_profit, base_2027q3_gross_profit, base_2027q4_gross_profit). |
| Non-GAAP operating income ($M) base_fy2027_adjusted_operating_income | FY2027 / base | 335.02 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_adjusted_operating_income, base_2027q2_adjusted_operating_income, base_2027q3_adjusted_operating_income, base_2027q4_adjusted_operating_income). |
| GAAP operating income ($M) base_fy2027_operating_income | FY2027 / base | 184.22 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_operating_income, base_2027q2_operating_income, base_2027q3_operating_income, base_2027q4_operating_income). |
| Operating cash flow ($M) base_fy2027_cfo | FY2027 / base | 330.12 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cfo, base_2027q2_cfo, base_2027q3_cfo, base_2027q4_cfo). |
| PP&E cash purchases ($M) base_fy2027_capex | FY2027 / base | 12.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_capex, base_2027q2_capex, base_2027q3_capex, base_2027q4_capex). |
| Capitalized software cash ($M) base_fy2027_software | FY2027 / base | 15.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_software, base_2027q2_software, base_2027q3_software, base_2027q4_software). |
| CFO less PP&E ($M) base_fy2027_fcf | FY2027 / base | 318.12 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_fcf, base_2027q2_fcf, base_2027q3_fcf, base_2027q4_fcf). |
| CFO less PP&E and software ($M) base_fy2027_company_fcf | FY2027 / base | 303.12 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_company_fcf, base_2027q2_company_fcf, base_2027q3_company_fcf, base_2027q4_company_fcf). |
| Cash after software, awards and acquisition ($M) base_fy2027_cash_after_deal | FY2027 / base | 241.12 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cash_after_deal, base_2027q2_cash_after_deal, base_2027q3_cash_after_deal, base_2027q4_cash_after_deal). |
| FY2026 delivery versus August reference upside_delivery | FY2026 / upside | 102.5% ratio | assumption: Desk delivery sensitivity, not a post-close management revision. |
| FY2026 opfactor versus August reference upside_opfactor | FY2026 / upside | 108.0% ratio | assumption: Desk delivery sensitivity, not a post-close management revision. |
| FY2026 revenue upside_fy26_revenue_target | FY2026 / upside | 879.45 USD_millions | derived: August midpoint used as scenario reference. Formula: multiply(fy26_revenue_guide, upside_delivery). |
| H2 revenue upside_h2_revenue | H2 2026 / upside | 484.33 USD_millions | derived: Annual scenario less H1 actual. Formula: subtract(upside_fy26_revenue_target, h1_revenue). |
| FY2026 adjusted_operating_income upside_fy26_adjusted_operating_income_target | FY2026 / upside | 259.20 USD_millions | derived: August midpoint used as scenario reference. Formula: multiply(fy26_adjusted_guide, upside_opfactor). |
| H2 adjusted_operating_income upside_h2_adjusted_operating_income | H2 2026 / upside | 151.52 USD_millions | derived: Annual scenario less H1 actual. Formula: subtract(upside_fy26_adjusted_operating_income_target, h1_adjusted_operating_income). |
| FY2026 Cylinder contribution upside_fy26_cylinder | FY2026 / upside | 16.00 USD_millions | assumption: Desk post-close sales allocation already included within annual consolidated revenue. |
| FY2026 legacy-business sales upside_fy26_core | FY2026 / upside | 863.45 USD_millions | derived: No acquired revenue added twice. Formula: subtract(upside_fy26_revenue_target, upside_fy26_cylinder). |
| FY2027 legacy growth multiplier upside_core_growth | FY2027 / upside | 142.0% ratio | assumption: Desk engagement and customer expansion assumption. |
| FY2027 legacy revenue upside_fy27_core | FY2027 / upside | 1,226.10 USD_millions | derived: Legacy growth separate from acquired business. Formula: multiply(upside_fy26_core, upside_core_growth). |
| FY2027 Cylinder revenue upside_fy27_cylinder | FY2027 / upside | 70.00 USD_millions | assumption: Desk assumption; no standalone revenue guidance disclosed. |
| Cylinder revenue upside_2026q3_cylinder | 2026Q3 / upside | 4.00 USD_millions | assumption: Provisional consolidated contribution following September 1 closing; not disclosed actual acquired revenue. |
| Consolidated revenue upside_2026q3_revenue | 2026Q3 / upside | 229.60 USD_millions | derived: August Q3 guidance reference times sensitivity. Formula: multiply(q3_revenue_guide, upside_delivery). |
| Legacy revenue upside_2026q3_core | 2026Q3 / upside | 225.60 USD_millions | derived: Cylinder allocation is within total sales. Formula: subtract(upside_2026q3_revenue, upside_2026q3_cylinder). |
| Non-GAAP operating income upside_2026q3_adjusted_operating_income | 2026Q3 / upside | 66.96 USD_millions | derived: August Q3 adjusted operating reference. Formula: multiply(q3_adjusted_guide, upside_opfactor). |
| core GAAP gross margin upside_2026q3_core_gross_margin | 2026Q3 / upside | 87.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit upside_2026q3_core_gross | 2026Q3 / upside | 196.27 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2026q3_core, upside_2026q3_core_gross_margin). |
| cylinder GAAP gross margin upside_2026q3_cylinder_gross_margin | 2026Q3 / upside | 70.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit upside_2026q3_cylinder_gross | 2026Q3 / upside | 2.80 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2026q3_cylinder, upside_2026q3_cylinder_gross_margin). |
| GAAP gross profit proxy upside_2026q3_gross_profit | 2026Q3 / upside | 199.07 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(upside_2026q3_core_gross, upside_2026q3_cylinder_gross). |
| Total stock compensation expense upside_2026q3_sbc | 2026Q3 / upside | 25.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization upside_2026q3_amort | 2026Q3 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards upside_2026q3_sbc_payroll | 2026Q3 / upside | 1.70 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs upside_2026q3_acquisition_costs | 2026Q3 / upside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses upside_2026q3_gaap_adjustments | 2026Q3 / upside | 29.70 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(upside_2026q3_sbc, upside_2026q3_amort, upside_2026q3_sbc_payroll, upside_2026q3_acquisition_costs). |
| GAAP operating income upside_2026q3_operating_income | 2026Q3 / upside | 37.26 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(upside_2026q3_adjusted_operating_income, upside_2026q3_gaap_adjustments). |
| Investment income upside_2026q3_interest | 2026Q3 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference upside_2026q3_pretax | 2026Q3 / upside | 40.26 USD_millions | derived: Desk recurring investment income. Formula: sum(upside_2026q3_operating_income, upside_2026q3_interest). |
| Cash tax / pretax income upside_2026q3_tax_rate | 2026Q3 / upside | 5.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance upside_2026q3_cash_tax | 2026Q3 / upside | 2.01 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(upside_2026q3_pretax, upside_2026q3_tax_rate). |
| After-tax earnings reference upside_2026q3_after_tax | 2026Q3 / upside | 38.25 USD_millions | derived: Simplified tax timing. Formula: subtract(upside_2026q3_pretax, upside_2026q3_cash_tax). |
| Other depreciation upside_2026q3_depreciation | 2026Q3 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization upside_2026q3_commission_amort | 2026Q3 / upside | 20.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs upside_2026q3_before_commissions | 2026Q3 / upside | 85.25 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(upside_2026q3_after_tax, upside_2026q3_sbc, upside_2026q3_amort, upside_2026q3_depreciation, upside_2026q3_commission_amort). |
| Commission cash / sales upside_2026q3_commission_rate | 2026Q3 / upside | 12.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash upside_2026q3_commission_cash | 2026Q3 / upside | 27.55 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(upside_2026q3_revenue, upside_2026q3_commission_rate). |
| Billings / recognized revenue upside_2026q3_billing_ratio | 2026Q3 / upside | 122.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings upside_2026q3_billings | 2026Q3 / upside | 280.11 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(upside_2026q3_revenue, upside_2026q3_billing_ratio). |
| Deferred revenue funding from operations upside_2026q3_deferred_funding | 2026Q3 / upside | 50.51 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(upside_2026q3_billings, upside_2026q3_revenue). |
| Cash earnings plus advance-billing funding upside_2026q3_cash_before_uses | 2026Q3 / upside | 135.76 USD_millions | derived: Collection timing is handled separately. Formula: sum(upside_2026q3_before_commissions, upside_2026q3_deferred_funding). |
| Receivables and other operating cash use upside_2026q3_receivables_other | 2026Q3 / upside | 18.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use upside_2026q3_cash_uses | 2026Q3 / upside | 45.55 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(upside_2026q3_commission_cash, upside_2026q3_receivables_other). |
| Operating cash flow upside_2026q3_cfo | 2026Q3 / upside | 90.21 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(upside_2026q3_cash_before_uses, upside_2026q3_cash_uses). |
| Gross PP&E purchases upside_2026q3_capex | 2026Q3 / upside | 2.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash upside_2026q3_software | 2026Q3 / upside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E upside_2026q3_fcf | 2026Q3 / upside | 88.21 USD_millions | derived: Generic historical cash measure. Formula: subtract(upside_2026q3_cfo, upside_2026q3_capex). |
| CFO less PP&E and software upside_2026q3_company_fcf | 2026Q3 / upside | 86.21 USD_millions | derived: Current-period company FCF definition. Formula: subtract(upside_2026q3_fcf, upside_2026q3_software). |
| Share of announced purchase cash in quarter upside_2026q3_deal_timing | 2026Q3 / upside | 100.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption upside_2026q3_deal_cash | 2026Q3 / upside | 105.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, upside_2026q3_deal_timing). |
| Cash taxes on net-settled awards upside_2026q3_withholding | 2026Q3 / upside | 12.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash upside_2026q3_capital_uses | 2026Q3 / upside | 117.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(upside_2026q3_deal_cash, upside_2026q3_withholding). |
| Cash after software, awards and acquisition upside_2026q3_cash_after_deal | 2026Q3 / upside | -30.79 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(upside_2026q3_company_fcf, upside_2026q3_capital_uses). |
| Cylinder revenue upside_2026q4_cylinder | 2026Q4 / upside | 12.00 USD_millions | assumption: Provisional consolidated contribution following September 1 closing; not disclosed actual acquired revenue. |
| Consolidated revenue upside_2026q4_revenue | 2026Q4 / upside | 254.73 USD_millions | derived: Annual total scenario less actual H1 and forecast Q3. Formula: subtract(upside_h2_revenue, upside_2026q3_revenue). |
| Legacy revenue upside_2026q4_core | 2026Q4 / upside | 242.73 USD_millions | derived: Cylinder allocation is within total sales. Formula: subtract(upside_2026q4_revenue, upside_2026q4_cylinder). |
| Non-GAAP operating income upside_2026q4_adjusted_operating_income | 2026Q4 / upside | 84.56 USD_millions | derived: Remaining annual adjusted operating result. Formula: subtract(upside_h2_adjusted_operating_income, upside_2026q3_adjusted_operating_income). |
| core GAAP gross margin upside_2026q4_core_gross_margin | 2026Q4 / upside | 87.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit upside_2026q4_core_gross | 2026Q4 / upside | 211.17 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2026q4_core, upside_2026q4_core_gross_margin). |
| cylinder GAAP gross margin upside_2026q4_cylinder_gross_margin | 2026Q4 / upside | 70.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit upside_2026q4_cylinder_gross | 2026Q4 / upside | 8.40 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2026q4_cylinder, upside_2026q4_cylinder_gross_margin). |
| GAAP gross profit proxy upside_2026q4_gross_profit | 2026Q4 / upside | 219.57 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(upside_2026q4_core_gross, upside_2026q4_cylinder_gross). |
| Total stock compensation expense upside_2026q4_sbc | 2026Q4 / upside | 28.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization upside_2026q4_amort | 2026Q4 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards upside_2026q4_sbc_payroll | 2026Q4 / upside | 1.70 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs upside_2026q4_acquisition_costs | 2026Q4 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses upside_2026q4_gaap_adjustments | 2026Q4 / upside | 31.70 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(upside_2026q4_sbc, upside_2026q4_amort, upside_2026q4_sbc_payroll, upside_2026q4_acquisition_costs). |
| GAAP operating income upside_2026q4_operating_income | 2026Q4 / upside | 52.86 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(upside_2026q4_adjusted_operating_income, upside_2026q4_gaap_adjustments). |
| Investment income upside_2026q4_interest | 2026Q4 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference upside_2026q4_pretax | 2026Q4 / upside | 55.86 USD_millions | derived: Desk recurring investment income. Formula: sum(upside_2026q4_operating_income, upside_2026q4_interest). |
| Cash tax / pretax income upside_2026q4_tax_rate | 2026Q4 / upside | 5.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance upside_2026q4_cash_tax | 2026Q4 / upside | 2.79 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(upside_2026q4_pretax, upside_2026q4_tax_rate). |
| After-tax earnings reference upside_2026q4_after_tax | 2026Q4 / upside | 53.07 USD_millions | derived: Simplified tax timing. Formula: subtract(upside_2026q4_pretax, upside_2026q4_cash_tax). |
| Other depreciation upside_2026q4_depreciation | 2026Q4 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization upside_2026q4_commission_amort | 2026Q4 / upside | 22.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs upside_2026q4_before_commissions | 2026Q4 / upside | 105.07 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(upside_2026q4_after_tax, upside_2026q4_sbc, upside_2026q4_amort, upside_2026q4_depreciation, upside_2026q4_commission_amort). |
| Commission cash / sales upside_2026q4_commission_rate | 2026Q4 / upside | 12.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash upside_2026q4_commission_cash | 2026Q4 / upside | 30.57 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(upside_2026q4_revenue, upside_2026q4_commission_rate). |
| Billings / recognized revenue upside_2026q4_billing_ratio | 2026Q4 / upside | 95.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings upside_2026q4_billings | 2026Q4 / upside | 241.99 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(upside_2026q4_revenue, upside_2026q4_billing_ratio). |
| Deferred revenue funding from operations upside_2026q4_deferred_funding | 2026Q4 / upside | -12.74 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(upside_2026q4_billings, upside_2026q4_revenue). |
| Cash earnings plus advance-billing funding upside_2026q4_cash_before_uses | 2026Q4 / upside | 92.33 USD_millions | derived: Collection timing is handled separately. Formula: sum(upside_2026q4_before_commissions, upside_2026q4_deferred_funding). |
| Receivables and other operating cash use upside_2026q4_receivables_other | 2026Q4 / upside | -15.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use upside_2026q4_cash_uses | 2026Q4 / upside | 15.57 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(upside_2026q4_commission_cash, upside_2026q4_receivables_other). |
| Operating cash flow upside_2026q4_cfo | 2026Q4 / upside | 76.77 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(upside_2026q4_cash_before_uses, upside_2026q4_cash_uses). |
| Gross PP&E purchases upside_2026q4_capex | 2026Q4 / upside | 2.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash upside_2026q4_software | 2026Q4 / upside | 2.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E upside_2026q4_fcf | 2026Q4 / upside | 74.77 USD_millions | derived: Generic historical cash measure. Formula: subtract(upside_2026q4_cfo, upside_2026q4_capex). |
| CFO less PP&E and software upside_2026q4_company_fcf | 2026Q4 / upside | 72.27 USD_millions | derived: Current-period company FCF definition. Formula: subtract(upside_2026q4_fcf, upside_2026q4_software). |
| Share of announced purchase cash in quarter upside_2026q4_deal_timing | 2026Q4 / upside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption upside_2026q4_deal_cash | 2026Q4 / upside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, upside_2026q4_deal_timing). |
| Cash taxes on net-settled awards upside_2026q4_withholding | 2026Q4 / upside | 13.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash upside_2026q4_capital_uses | 2026Q4 / upside | 13.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(upside_2026q4_deal_cash, upside_2026q4_withholding). |
| Cash after software, awards and acquisition upside_2026q4_cash_after_deal | 2026Q4 / upside | 59.27 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(upside_2026q4_company_fcf, upside_2026q4_capital_uses). |
| Annual revenue quarter share upside_2027q1_weight | 2027Q1 / upside | 22.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue upside_2027q1_core | 2027Q1 / upside | 269.74 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(upside_fy27_core, upside_2027q1_weight). |
| Cylinder revenue upside_2027q1_cylinder | 2027Q1 / upside | 15.40 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(upside_fy27_cylinder, upside_2027q1_weight). |
| Consolidated revenue upside_2027q1_revenue | 2027Q1 / upside | 285.14 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(upside_2027q1_core, upside_2027q1_cylinder). |
| core adjusted operating margin upside_2027q1_core_op_margin | 2027Q1 / upside | 33.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income upside_2027q1_core_adjusted_op | 2027Q1 / upside | 89.01 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q1_core, upside_2027q1_core_op_margin). |
| cylinder adjusted operating margin upside_2027q1_cylinder_op_margin | 2027Q1 / upside | 10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income upside_2027q1_cylinder_adjusted_op | 2027Q1 / upside | 1.54 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q1_cylinder, upside_2027q1_cylinder_op_margin). |
| Non-GAAP operating income upside_2027q1_adjusted_operating_income | 2027Q1 / upside | 90.55 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(upside_2027q1_core_adjusted_op, upside_2027q1_cylinder_adjusted_op). |
| core GAAP gross margin upside_2027q1_core_gross_margin | 2027Q1 / upside | 87.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit upside_2027q1_core_gross | 2027Q1 / upside | 234.68 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q1_core, upside_2027q1_core_gross_margin). |
| cylinder GAAP gross margin upside_2027q1_cylinder_gross_margin | 2027Q1 / upside | 70.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit upside_2027q1_cylinder_gross | 2027Q1 / upside | 10.78 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q1_cylinder, upside_2027q1_cylinder_gross_margin). |
| GAAP gross profit proxy upside_2027q1_gross_profit | 2027Q1 / upside | 245.46 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(upside_2027q1_core_gross, upside_2027q1_cylinder_gross). |
| Total stock compensation expense upside_2027q1_sbc | 2027Q1 / upside | 32.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization upside_2027q1_amort | 2027Q1 / upside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards upside_2027q1_sbc_payroll | 2027Q1 / upside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs upside_2027q1_acquisition_costs | 2027Q1 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses upside_2027q1_gaap_adjustments | 2027Q1 / upside | 37.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(upside_2027q1_sbc, upside_2027q1_amort, upside_2027q1_sbc_payroll, upside_2027q1_acquisition_costs). |
| GAAP operating income upside_2027q1_operating_income | 2027Q1 / upside | 53.35 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(upside_2027q1_adjusted_operating_income, upside_2027q1_gaap_adjustments). |
| Investment income upside_2027q1_interest | 2027Q1 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference upside_2027q1_pretax | 2027Q1 / upside | 56.35 USD_millions | derived: Desk recurring investment income. Formula: sum(upside_2027q1_operating_income, upside_2027q1_interest). |
| Cash tax / pretax income upside_2027q1_tax_rate | 2027Q1 / upside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance upside_2027q1_cash_tax | 2027Q1 / upside | 8.45 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(upside_2027q1_pretax, upside_2027q1_tax_rate). |
| After-tax earnings reference upside_2027q1_after_tax | 2027Q1 / upside | 47.90 USD_millions | derived: Simplified tax timing. Formula: subtract(upside_2027q1_pretax, upside_2027q1_cash_tax). |
| Other depreciation upside_2027q1_depreciation | 2027Q1 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization upside_2027q1_commission_amort | 2027Q1 / upside | 24.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs upside_2027q1_before_commissions | 2027Q1 / upside | 106.90 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(upside_2027q1_after_tax, upside_2027q1_sbc, upside_2027q1_amort, upside_2027q1_depreciation, upside_2027q1_commission_amort). |
| Commission cash / sales upside_2027q1_commission_rate | 2027Q1 / upside | 12.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash upside_2027q1_commission_cash | 2027Q1 / upside | 34.22 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(upside_2027q1_revenue, upside_2027q1_commission_rate). |
| Billings / recognized revenue upside_2027q1_billing_ratio | 2027Q1 / upside | 125.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings upside_2027q1_billings | 2027Q1 / upside | 356.43 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(upside_2027q1_revenue, upside_2027q1_billing_ratio). |
| Deferred revenue funding from operations upside_2027q1_deferred_funding | 2027Q1 / upside | 71.29 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(upside_2027q1_billings, upside_2027q1_revenue). |
| Cash earnings plus advance-billing funding upside_2027q1_cash_before_uses | 2027Q1 / upside | 178.19 USD_millions | derived: Collection timing is handled separately. Formula: sum(upside_2027q1_before_commissions, upside_2027q1_deferred_funding). |
| Receivables and other operating cash use upside_2027q1_receivables_other | 2027Q1 / upside | 30.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use upside_2027q1_cash_uses | 2027Q1 / upside | 64.22 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(upside_2027q1_commission_cash, upside_2027q1_receivables_other). |
| Operating cash flow upside_2027q1_cfo | 2027Q1 / upside | 113.97 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(upside_2027q1_cash_before_uses, upside_2027q1_cash_uses). |
| Gross PP&E purchases upside_2027q1_capex | 2027Q1 / upside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash upside_2027q1_software | 2027Q1 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E upside_2027q1_fcf | 2027Q1 / upside | 110.97 USD_millions | derived: Generic historical cash measure. Formula: subtract(upside_2027q1_cfo, upside_2027q1_capex). |
| CFO less PP&E and software upside_2027q1_company_fcf | 2027Q1 / upside | 107.97 USD_millions | derived: Current-period company FCF definition. Formula: subtract(upside_2027q1_fcf, upside_2027q1_software). |
| Share of announced purchase cash in quarter upside_2027q1_deal_timing | 2027Q1 / upside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption upside_2027q1_deal_cash | 2027Q1 / upside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, upside_2027q1_deal_timing). |
| Cash taxes on net-settled awards upside_2027q1_withholding | 2027Q1 / upside | 14.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash upside_2027q1_capital_uses | 2027Q1 / upside | 14.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(upside_2027q1_deal_cash, upside_2027q1_withholding). |
| Cash after software, awards and acquisition upside_2027q1_cash_after_deal | 2027Q1 / upside | 93.97 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(upside_2027q1_company_fcf, upside_2027q1_capital_uses). |
| Annual revenue quarter share upside_2027q2_weight | 2027Q2 / upside | 24.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue upside_2027q2_core | 2027Q2 / upside | 294.26 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(upside_fy27_core, upside_2027q2_weight). |
| Cylinder revenue upside_2027q2_cylinder | 2027Q2 / upside | 16.80 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(upside_fy27_cylinder, upside_2027q2_weight). |
| Consolidated revenue upside_2027q2_revenue | 2027Q2 / upside | 311.06 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(upside_2027q2_core, upside_2027q2_cylinder). |
| core adjusted operating margin upside_2027q2_core_op_margin | 2027Q2 / upside | 33.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income upside_2027q2_core_adjusted_op | 2027Q2 / upside | 97.11 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q2_core, upside_2027q2_core_op_margin). |
| cylinder adjusted operating margin upside_2027q2_cylinder_op_margin | 2027Q2 / upside | 10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income upside_2027q2_cylinder_adjusted_op | 2027Q2 / upside | 1.68 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q2_cylinder, upside_2027q2_cylinder_op_margin). |
| Non-GAAP operating income upside_2027q2_adjusted_operating_income | 2027Q2 / upside | 98.79 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(upside_2027q2_core_adjusted_op, upside_2027q2_cylinder_adjusted_op). |
| core GAAP gross margin upside_2027q2_core_gross_margin | 2027Q2 / upside | 87.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit upside_2027q2_core_gross | 2027Q2 / upside | 256.01 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q2_core, upside_2027q2_core_gross_margin). |
| cylinder GAAP gross margin upside_2027q2_cylinder_gross_margin | 2027Q2 / upside | 70.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit upside_2027q2_cylinder_gross | 2027Q2 / upside | 11.76 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q2_cylinder, upside_2027q2_cylinder_gross_margin). |
| GAAP gross profit proxy upside_2027q2_gross_profit | 2027Q2 / upside | 267.77 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(upside_2027q2_core_gross, upside_2027q2_cylinder_gross). |
| Total stock compensation expense upside_2027q2_sbc | 2027Q2 / upside | 36.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization upside_2027q2_amort | 2027Q2 / upside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards upside_2027q2_sbc_payroll | 2027Q2 / upside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs upside_2027q2_acquisition_costs | 2027Q2 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses upside_2027q2_gaap_adjustments | 2027Q2 / upside | 41.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(upside_2027q2_sbc, upside_2027q2_amort, upside_2027q2_sbc_payroll, upside_2027q2_acquisition_costs). |
| GAAP operating income upside_2027q2_operating_income | 2027Q2 / upside | 57.59 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(upside_2027q2_adjusted_operating_income, upside_2027q2_gaap_adjustments). |
| Investment income upside_2027q2_interest | 2027Q2 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference upside_2027q2_pretax | 2027Q2 / upside | 60.59 USD_millions | derived: Desk recurring investment income. Formula: sum(upside_2027q2_operating_income, upside_2027q2_interest). |
| Cash tax / pretax income upside_2027q2_tax_rate | 2027Q2 / upside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance upside_2027q2_cash_tax | 2027Q2 / upside | 9.09 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(upside_2027q2_pretax, upside_2027q2_tax_rate). |
| After-tax earnings reference upside_2027q2_after_tax | 2027Q2 / upside | 51.50 USD_millions | derived: Simplified tax timing. Formula: subtract(upside_2027q2_pretax, upside_2027q2_cash_tax). |
| Other depreciation upside_2027q2_depreciation | 2027Q2 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization upside_2027q2_commission_amort | 2027Q2 / upside | 26.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs upside_2027q2_before_commissions | 2027Q2 / upside | 116.50 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(upside_2027q2_after_tax, upside_2027q2_sbc, upside_2027q2_amort, upside_2027q2_depreciation, upside_2027q2_commission_amort). |
| Commission cash / sales upside_2027q2_commission_rate | 2027Q2 / upside | 12.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash upside_2027q2_commission_cash | 2027Q2 / upside | 37.33 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(upside_2027q2_revenue, upside_2027q2_commission_rate). |
| Billings / recognized revenue upside_2027q2_billing_ratio | 2027Q2 / upside | 130.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings upside_2027q2_billings | 2027Q2 / upside | 404.38 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(upside_2027q2_revenue, upside_2027q2_billing_ratio). |
| Deferred revenue funding from operations upside_2027q2_deferred_funding | 2027Q2 / upside | 93.32 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(upside_2027q2_billings, upside_2027q2_revenue). |
| Cash earnings plus advance-billing funding upside_2027q2_cash_before_uses | 2027Q2 / upside | 209.82 USD_millions | derived: Collection timing is handled separately. Formula: sum(upside_2027q2_before_commissions, upside_2027q2_deferred_funding). |
| Receivables and other operating cash use upside_2027q2_receivables_other | 2027Q2 / upside | 35.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use upside_2027q2_cash_uses | 2027Q2 / upside | 72.33 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(upside_2027q2_commission_cash, upside_2027q2_receivables_other). |
| Operating cash flow upside_2027q2_cfo | 2027Q2 / upside | 137.49 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(upside_2027q2_cash_before_uses, upside_2027q2_cash_uses). |
| Gross PP&E purchases upside_2027q2_capex | 2027Q2 / upside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash upside_2027q2_software | 2027Q2 / upside | 3.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E upside_2027q2_fcf | 2027Q2 / upside | 134.49 USD_millions | derived: Generic historical cash measure. Formula: subtract(upside_2027q2_cfo, upside_2027q2_capex). |
| CFO less PP&E and software upside_2027q2_company_fcf | 2027Q2 / upside | 130.99 USD_millions | derived: Current-period company FCF definition. Formula: subtract(upside_2027q2_fcf, upside_2027q2_software). |
| Share of announced purchase cash in quarter upside_2027q2_deal_timing | 2027Q2 / upside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption upside_2027q2_deal_cash | 2027Q2 / upside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, upside_2027q2_deal_timing). |
| Cash taxes on net-settled awards upside_2027q2_withholding | 2027Q2 / upside | 15.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash upside_2027q2_capital_uses | 2027Q2 / upside | 15.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(upside_2027q2_deal_cash, upside_2027q2_withholding). |
| Cash after software, awards and acquisition upside_2027q2_cash_after_deal | 2027Q2 / upside | 115.99 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(upside_2027q2_company_fcf, upside_2027q2_capital_uses). |
| Annual revenue quarter share upside_2027q3_weight | 2027Q3 / upside | 26.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue upside_2027q3_core | 2027Q3 / upside | 318.79 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(upside_fy27_core, upside_2027q3_weight). |
| Cylinder revenue upside_2027q3_cylinder | 2027Q3 / upside | 18.20 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(upside_fy27_cylinder, upside_2027q3_weight). |
| Consolidated revenue upside_2027q3_revenue | 2027Q3 / upside | 336.99 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(upside_2027q3_core, upside_2027q3_cylinder). |
| core adjusted operating margin upside_2027q3_core_op_margin | 2027Q3 / upside | 33.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income upside_2027q3_core_adjusted_op | 2027Q3 / upside | 105.20 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q3_core, upside_2027q3_core_op_margin). |
| cylinder adjusted operating margin upside_2027q3_cylinder_op_margin | 2027Q3 / upside | 10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income upside_2027q3_cylinder_adjusted_op | 2027Q3 / upside | 1.82 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q3_cylinder, upside_2027q3_cylinder_op_margin). |
| Non-GAAP operating income upside_2027q3_adjusted_operating_income | 2027Q3 / upside | 107.02 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(upside_2027q3_core_adjusted_op, upside_2027q3_cylinder_adjusted_op). |
| core GAAP gross margin upside_2027q3_core_gross_margin | 2027Q3 / upside | 87.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit upside_2027q3_core_gross | 2027Q3 / upside | 277.34 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q3_core, upside_2027q3_core_gross_margin). |
| cylinder GAAP gross margin upside_2027q3_cylinder_gross_margin | 2027Q3 / upside | 70.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit upside_2027q3_cylinder_gross | 2027Q3 / upside | 12.74 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q3_cylinder, upside_2027q3_cylinder_gross_margin). |
| GAAP gross profit proxy upside_2027q3_gross_profit | 2027Q3 / upside | 290.08 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(upside_2027q3_core_gross, upside_2027q3_cylinder_gross). |
| Total stock compensation expense upside_2027q3_sbc | 2027Q3 / upside | 40.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization upside_2027q3_amort | 2027Q3 / upside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards upside_2027q3_sbc_payroll | 2027Q3 / upside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs upside_2027q3_acquisition_costs | 2027Q3 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses upside_2027q3_gaap_adjustments | 2027Q3 / upside | 45.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(upside_2027q3_sbc, upside_2027q3_amort, upside_2027q3_sbc_payroll, upside_2027q3_acquisition_costs). |
| GAAP operating income upside_2027q3_operating_income | 2027Q3 / upside | 61.82 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(upside_2027q3_adjusted_operating_income, upside_2027q3_gaap_adjustments). |
| Investment income upside_2027q3_interest | 2027Q3 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference upside_2027q3_pretax | 2027Q3 / upside | 64.82 USD_millions | derived: Desk recurring investment income. Formula: sum(upside_2027q3_operating_income, upside_2027q3_interest). |
| Cash tax / pretax income upside_2027q3_tax_rate | 2027Q3 / upside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance upside_2027q3_cash_tax | 2027Q3 / upside | 9.72 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(upside_2027q3_pretax, upside_2027q3_tax_rate). |
| After-tax earnings reference upside_2027q3_after_tax | 2027Q3 / upside | 55.10 USD_millions | derived: Simplified tax timing. Formula: subtract(upside_2027q3_pretax, upside_2027q3_cash_tax). |
| Other depreciation upside_2027q3_depreciation | 2027Q3 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization upside_2027q3_commission_amort | 2027Q3 / upside | 28.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs upside_2027q3_before_commissions | 2027Q3 / upside | 126.10 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(upside_2027q3_after_tax, upside_2027q3_sbc, upside_2027q3_amort, upside_2027q3_depreciation, upside_2027q3_commission_amort). |
| Commission cash / sales upside_2027q3_commission_rate | 2027Q3 / upside | 12.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash upside_2027q3_commission_cash | 2027Q3 / upside | 40.44 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(upside_2027q3_revenue, upside_2027q3_commission_rate). |
| Billings / recognized revenue upside_2027q3_billing_ratio | 2027Q3 / upside | 120.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings upside_2027q3_billings | 2027Q3 / upside | 404.38 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(upside_2027q3_revenue, upside_2027q3_billing_ratio). |
| Deferred revenue funding from operations upside_2027q3_deferred_funding | 2027Q3 / upside | 67.40 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(upside_2027q3_billings, upside_2027q3_revenue). |
| Cash earnings plus advance-billing funding upside_2027q3_cash_before_uses | 2027Q3 / upside | 193.49 USD_millions | derived: Collection timing is handled separately. Formula: sum(upside_2027q3_before_commissions, upside_2027q3_deferred_funding). |
| Receivables and other operating cash use upside_2027q3_receivables_other | 2027Q3 / upside | 25.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use upside_2027q3_cash_uses | 2027Q3 / upside | 65.44 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(upside_2027q3_commission_cash, upside_2027q3_receivables_other). |
| Operating cash flow upside_2027q3_cfo | 2027Q3 / upside | 128.06 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(upside_2027q3_cash_before_uses, upside_2027q3_cash_uses). |
| Gross PP&E purchases upside_2027q3_capex | 2027Q3 / upside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash upside_2027q3_software | 2027Q3 / upside | 4.00 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E upside_2027q3_fcf | 2027Q3 / upside | 125.06 USD_millions | derived: Generic historical cash measure. Formula: subtract(upside_2027q3_cfo, upside_2027q3_capex). |
| CFO less PP&E and software upside_2027q3_company_fcf | 2027Q3 / upside | 121.06 USD_millions | derived: Current-period company FCF definition. Formula: subtract(upside_2027q3_fcf, upside_2027q3_software). |
| Share of announced purchase cash in quarter upside_2027q3_deal_timing | 2027Q3 / upside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption upside_2027q3_deal_cash | 2027Q3 / upside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, upside_2027q3_deal_timing). |
| Cash taxes on net-settled awards upside_2027q3_withholding | 2027Q3 / upside | 16.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash upside_2027q3_capital_uses | 2027Q3 / upside | 16.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(upside_2027q3_deal_cash, upside_2027q3_withholding). |
| Cash after software, awards and acquisition upside_2027q3_cash_after_deal | 2027Q3 / upside | 105.06 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(upside_2027q3_company_fcf, upside_2027q3_capital_uses). |
| Annual revenue quarter share upside_2027q4_weight | 2027Q4 / upside | 28.0% ratio | assumption: Desk assumption, not company guidance. |
| Legacy revenue upside_2027q4_core | 2027Q4 / upside | 343.31 USD_millions | derived: Legacy annual growth with explicit phasing. Formula: multiply(upside_fy27_core, upside_2027q4_weight). |
| Cylinder revenue upside_2027q4_cylinder | 2027Q4 / upside | 19.60 USD_millions | derived: Acquired business phasing, no external standalone forecast implied. Formula: multiply(upside_fy27_cylinder, upside_2027q4_weight). |
| Consolidated revenue upside_2027q4_revenue | 2027Q4 / upside | 362.91 USD_millions | derived: Legacy and acquired sales are mutually exclusive. Formula: sum(upside_2027q4_core, upside_2027q4_cylinder). |
| core adjusted operating margin upside_2027q4_core_op_margin | 2027Q4 / upside | 33.0% ratio | assumption: Desk assumption, not company guidance. |
| core adjusted operating income upside_2027q4_core_adjusted_op | 2027Q4 / upside | 113.29 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q4_core, upside_2027q4_core_op_margin). |
| cylinder adjusted operating margin upside_2027q4_cylinder_op_margin | 2027Q4 / upside | 10.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder adjusted operating income upside_2027q4_cylinder_adjusted_op | 2027Q4 / upside | 1.96 USD_millions | derived: Desk contribution after allocated operating costs. Formula: multiply(upside_2027q4_cylinder, upside_2027q4_cylinder_op_margin). |
| Non-GAAP operating income upside_2027q4_adjusted_operating_income | 2027Q4 / upside | 115.25 USD_millions | derived: No extra synergy revenue or unallocated profit added. Formula: sum(upside_2027q4_core_adjusted_op, upside_2027q4_cylinder_adjusted_op). |
| core GAAP gross margin upside_2027q4_core_gross_margin | 2027Q4 / upside | 87.0% ratio | assumption: Desk assumption, not company guidance. |
| core gross profit upside_2027q4_core_gross | 2027Q4 / upside | 298.68 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q4_core, upside_2027q4_core_gross_margin). |
| cylinder GAAP gross margin upside_2027q4_cylinder_gross_margin | 2027Q4 / upside | 70.0% ratio | assumption: Desk assumption, not company guidance. |
| cylinder gross profit upside_2027q4_cylinder_gross | 2027Q4 / upside | 13.72 USD_millions | derived: Includes cost-of-revenue SBC; acquired margin is provisional. Formula: multiply(upside_2027q4_cylinder, upside_2027q4_cylinder_gross_margin). |
| GAAP gross profit proxy upside_2027q4_gross_profit | 2027Q4 / upside | 312.40 USD_millions | derived: Sum of business contributions, not a disclosed segment margin forecast. Formula: sum(upside_2027q4_core_gross, upside_2027q4_cylinder_gross). |
| Total stock compensation expense upside_2027q4_sbc | 2027Q4 / upside | 44.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquired intangible amortization upside_2027q4_amort | 2027Q4 / upside | 2.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Employer payroll taxes on equity awards upside_2027q4_sbc_payroll | 2027Q4 / upside | 2.20 USD_millions | assumption: Desk assumption, not company guidance. |
| Acquisition and integration operating costs upside_2027q4_acquisition_costs | 2027Q4 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| GAAP reconciling expenses upside_2027q4_gaap_adjustments | 2027Q4 / upside | 49.20 USD_millions | derived: Payroll and transaction expenses can consume cash even when excluded from adjusted profit. Formula: sum(upside_2027q4_sbc, upside_2027q4_amort, upside_2027q4_sbc_payroll, upside_2027q4_acquisition_costs). |
| GAAP operating income upside_2027q4_operating_income | 2027Q4 / upside | 66.05 USD_millions | derived: No repeated IPO vesting charge, but ordinary compensation remains. Formula: subtract(upside_2027q4_adjusted_operating_income, upside_2027q4_gaap_adjustments). |
| Investment income upside_2027q4_interest | 2027Q4 / upside | 3.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Pretax income reference upside_2027q4_pretax | 2027Q4 / upside | 69.05 USD_millions | derived: Desk recurring investment income. Formula: sum(upside_2027q4_operating_income, upside_2027q4_interest). |
| Cash tax / pretax income upside_2027q4_tax_rate | 2027Q4 / upside | 15.0% ratio | assumption: Desk assumption, not company guidance. |
| Cash tax allowance upside_2027q4_cash_tax | 2027Q4 / upside | 10.36 USD_millions | derived: Normalized desk cash-tax allowance; not GAAP EPS guidance. Formula: multiply(upside_2027q4_pretax, upside_2027q4_tax_rate). |
| After-tax earnings reference upside_2027q4_after_tax | 2027Q4 / upside | 58.69 USD_millions | derived: Simplified tax timing. Formula: subtract(upside_2027q4_pretax, upside_2027q4_cash_tax). |
| Other depreciation upside_2027q4_depreciation | 2027Q4 / upside | 1.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Deferred commission amortization upside_2027q4_commission_amort | 2027Q4 / upside | 30.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Cash earnings plus noncash costs upside_2027q4_before_commissions | 2027Q4 / upside | 135.69 USD_millions | derived: Only noncash costs are added back; payroll/acquisition expense stays in cash. Formula: sum(upside_2027q4_after_tax, upside_2027q4_sbc, upside_2027q4_amort, upside_2027q4_depreciation, upside_2027q4_commission_amort). |
| Commission cash / sales upside_2027q4_commission_rate | 2027Q4 / upside | 12.0% ratio | assumption: Desk assumption, not company guidance. |
| New capitalized commission cash upside_2027q4_commission_cash | 2027Q4 / upside | 43.55 USD_millions | derived: Upfront commission investment distinct from amortization. Formula: multiply(upside_2027q4_revenue, upside_2027q4_commission_rate). |
| Billings / recognized revenue upside_2027q4_billing_ratio | 2027Q4 / upside | 95.0% ratio | assumption: Desk assumption, not company guidance. |
| Operating billings upside_2027q4_billings | 2027Q4 / upside | 344.76 USD_millions | derived: Desk timing of invoiced member services, excluding acquired opening balances. Formula: multiply(upside_2027q4_revenue, upside_2027q4_billing_ratio). |
| Deferred revenue funding from operations upside_2027q4_deferred_funding | 2027Q4 / upside | -18.15 USD_millions | derived: Billings less recognized services; not a second revenue source. Formula: subtract(upside_2027q4_billings, upside_2027q4_revenue). |
| Cash earnings plus advance-billing funding upside_2027q4_cash_before_uses | 2027Q4 / upside | 117.55 USD_millions | derived: Collection timing is handled separately. Formula: sum(upside_2027q4_before_commissions, upside_2027q4_deferred_funding). |
| Receivables and other operating cash use upside_2027q4_receivables_other | 2027Q4 / upside | -20.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Commission and collection cash use upside_2027q4_cash_uses | 2027Q4 / upside | 23.55 USD_millions | derived: No purchase-accounting deferred revenue included as cash funding. Formula: sum(upside_2027q4_commission_cash, upside_2027q4_receivables_other). |
| Operating cash flow upside_2027q4_cfo | 2027Q4 / upside | 94.00 USD_millions | derived: Operating cash excludes acquisition price and share withholding. Formula: subtract(upside_2027q4_cash_before_uses, upside_2027q4_cash_uses). |
| Gross PP&E purchases upside_2027q4_capex | 2027Q4 / upside | 3.00 USD_millions | assumption: Includes provisional office fit-out spending; no immediate deduction of the whole lease commitment or unearned allowance. |
| Capitalized internal-use software cash upside_2027q4_software | 2027Q4 / upside | 4.50 USD_millions | assumption: Desk assumption, not company guidance. |
| CFO less PP&E upside_2027q4_fcf | 2027Q4 / upside | 91.00 USD_millions | derived: Generic historical cash measure. Formula: subtract(upside_2027q4_cfo, upside_2027q4_capex). |
| CFO less PP&E and software upside_2027q4_company_fcf | 2027Q4 / upside | 86.50 USD_millions | derived: Current-period company FCF definition. Formula: subtract(upside_2027q4_fcf, upside_2027q4_software). |
| Share of announced purchase cash in quarter upside_2027q4_deal_timing | 2027Q4 / upside | 0.0% ratio | assumption: Desk assumption, not company guidance. |
| Cylinder acquisition cash assumption upside_2027q4_deal_cash | 2027Q4 / upside | 0.00 USD_millions | derived: September closing confirmed; announced price used pending final closing cash reporting. Formula: multiply(cylinder_announced_price, upside_2027q4_deal_timing). |
| Cash taxes on net-settled awards upside_2027q4_withholding | 2027Q4 / upside | 17.00 USD_millions | assumption: Desk assumption, not company guidance. |
| Award withholding and acquisition cash upside_2027q4_capital_uses | 2027Q4 / upside | 17.00 USD_millions | derived: Separate financing/investing outflows; excludes discretionary buybacks. Formula: sum(upside_2027q4_deal_cash, upside_2027q4_withholding). |
| Cash after software, awards and acquisition upside_2027q4_cash_after_deal | 2027Q4 / upside | 69.50 USD_millions | derived: Not total change in cash; financing, securities trades and buybacks excluded. Formula: subtract(upside_2027q4_company_fcf, upside_2027q4_capital_uses). |
| Consolidated revenue ($M) upside_fy2026_revenue | FY2026 / upside | 879.45 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, upside_2026q3_revenue, upside_2026q4_revenue). |
| Cylinder revenue assumption ($M) upside_fy2026_cylinder | FY2026 / upside | 16.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cylinder, upside_2026q3_cylinder, upside_2026q4_cylinder). |
| GAAP gross profit proxy ($M) upside_fy2026_gross_profit | FY2026 / upside | 756.83 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_gross_profit, upside_2026q3_gross_profit, upside_2026q4_gross_profit). |
| Non-GAAP operating income ($M) upside_fy2026_adjusted_operating_income | FY2026 / upside | 259.20 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adjusted_operating_income, upside_2026q3_adjusted_operating_income, upside_2026q4_adjusted_operating_income). |
| GAAP operating income ($M) upside_fy2026_operating_income | FY2026 / upside | 162.63 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, upside_2026q3_operating_income, upside_2026q4_operating_income). |
| Operating cash flow ($M) upside_fy2026_cfo | FY2026 / upside | 311.47 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, upside_2026q3_cfo, upside_2026q4_cfo). |
| PP&E cash purchases ($M) upside_fy2026_capex | FY2026 / upside | 4.21 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, upside_2026q3_capex, upside_2026q4_capex). |
| Capitalized software cash ($M) upside_fy2026_software | FY2026 / upside | 7.68 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_software, upside_2026q3_software, upside_2026q4_software). |
| CFO less PP&E ($M) upside_fy2026_fcf | FY2026 / upside | 307.26 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, upside_2026q3_fcf, upside_2026q4_fcf). |
| CFO less PP&E and software ($M) upside_fy2026_company_fcf | FY2026 / upside | 299.59 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_company_fcf, upside_2026q3_company_fcf, upside_2026q4_company_fcf). |
| Cash after software, awards and acquisition ($M) upside_fy2026_cash_after_deal | FY2026 / upside | 149.80 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_deal, upside_2026q3_cash_after_deal, upside_2026q4_cash_after_deal). |
| Consolidated revenue ($M) upside_fy2027_revenue | FY2027 / upside | 1,296.10 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_revenue, upside_2027q2_revenue, upside_2027q3_revenue, upside_2027q4_revenue). |
| Cylinder revenue assumption ($M) upside_fy2027_cylinder | FY2027 / upside | 70.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cylinder, upside_2027q2_cylinder, upside_2027q3_cylinder, upside_2027q4_cylinder). |
| GAAP gross profit proxy ($M) upside_fy2027_gross_profit | FY2027 / upside | 1,115.71 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_gross_profit, upside_2027q2_gross_profit, upside_2027q3_gross_profit, upside_2027q4_gross_profit). |
| Non-GAAP operating income ($M) upside_fy2027_adjusted_operating_income | FY2027 / upside | 411.61 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_adjusted_operating_income, upside_2027q2_adjusted_operating_income, upside_2027q3_adjusted_operating_income, upside_2027q4_adjusted_operating_income). |
| GAAP operating income ($M) upside_fy2027_operating_income | FY2027 / upside | 238.81 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_operating_income, upside_2027q2_operating_income, upside_2027q3_operating_income, upside_2027q4_operating_income). |
| Operating cash flow ($M) upside_fy2027_cfo | FY2027 / upside | 473.52 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cfo, upside_2027q2_cfo, upside_2027q3_cfo, upside_2027q4_cfo). |
| PP&E cash purchases ($M) upside_fy2027_capex | FY2027 / upside | 12.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_capex, upside_2027q2_capex, upside_2027q3_capex, upside_2027q4_capex). |
| Capitalized software cash ($M) upside_fy2027_software | FY2027 / upside | 15.00 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_software, upside_2027q2_software, upside_2027q3_software, upside_2027q4_software). |
| CFO less PP&E ($M) upside_fy2027_fcf | FY2027 / upside | 461.52 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_fcf, upside_2027q2_fcf, upside_2027q3_fcf, upside_2027q4_fcf). |
| CFO less PP&E and software ($M) upside_fy2027_company_fcf | FY2027 / upside | 446.52 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_company_fcf, upside_2027q2_company_fcf, upside_2027q3_company_fcf, upside_2027q4_company_fcf). |
| Cash after software, awards and acquisition ($M) upside_fy2027_cash_after_deal | FY2027 / upside | 384.52 USD_millions | derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cash_after_deal, upside_2027q2_cash_after_deal, upside_2027q3_cash_after_deal, upside_2027q4_cash_after_deal). |
Model boundaries
- Cylinder closed September 1, 2026. Exact acquired revenue, closing cash adjustments and purchase accounting have not yet been reported. Forecast Cylinder sales are desk allocations inside total sales, not an increment added on top of guidance.
- August guidance is a reference issued before closing, not a newly restated post-acquisition forecast. The model does not claim management disclosed Cylinder contribution or a revised consolidated range.
- Client counts and eligible lives are not paying members. Recognized revenue depends on member engagement and contract terms; the model does not assume every covered life becomes billable.
- Cash from advance billing can reverse as services are delivered. Working capital excludes acquired opening balances; there is no complete deferred-revenue balance-sheet rollforward.
- Company FCF includes capitalized software. Its Q2 2025 comparative adds back pre-IPO employer payroll taxes; current-period cash is not adjusted for ordinary ongoing payroll taxes.
- The $86M new-office base-rent commitment spans the lease term and is not immediate capex. Fit-out timing, tenant allowances and acquired intangibles are approximate. No forward EPS, valuation or discretionary buyback forecast is provided.
Engagement growth, advance billing and a completed acquisition
How much of member growth remains cash after service delivery, commissions and expansion?
H1 revenue of $395.124M produced $72.509M GAAP and $107.676M non-GAAP operating income. Billings of $510.735M exceeded revenue by $115.611M, while receivables consumed $60.984M and new deferred commissions $49.079M. CFO of $144.496M less $0.206M PP&E and $3.178M software produced $141.112M company FCF. Another $19.791M award withholding leaves $121.321M before $131.491M buybacks. June unrestricted cash and marketable securities were $474.133M, with $1.441M restricted separately. Cylinder closed September 1 following an announced $105M cash agreement; final purchase accounting remains unreported. The August office lease commits approximately $86M base rent over its term, with up to $17.9M tenant improvements and a $2.8M letter of credit. Available repurchase authorization of $300M is not completed spending.
The competing explanation
A fast engagement ramp can pull billings forward without sustaining the same cash conversion later. Client guarantees, acquisition integration, care costs and competing benefit priorities can pressure growth. Adjusted margins can improve while compensation and expansion consume the cash.
Risks to track
- Eligible lives and client counts do not equal paying members.
- Contract guarantees and member engagement influence recognized revenue.
- Deferred revenue funding and commission spending can reverse cash seasonality.
- Cylinder contribution and purchase accounting remain provisional.
- A new office, integration and share repurchases compete for capital.
- Privacy, clinical service quality and reimbursement/benefit policies affect adoption.
Next checkpoints
- Cylinder reporting · September 1 closing; next quarterly results (estimated). Reconcile actual acquired contribution, cash paid and intangible amortization.
- Q3 delivery · Q3 2026; results date unconfirmed (estimated). Compare August $223M-$225M revenue reference with post-close scope and updated guidance.
- Cash conversion · Each filing (estimated). Track advance billings, receivables, commissions, software and equity settlement cash.
Data coverage and open work
- Cylinder closed September 1, 2026. Exact acquired revenue, closing cash adjustments and purchase accounting have not yet been reported. Forecast Cylinder sales are desk allocations inside total sales, not an increment added on top of guidance.
- August guidance is a reference issued before closing, not a newly restated post-acquisition forecast. The model does not claim management disclosed Cylinder contribution or a revised consolidated range.
- Client counts and eligible lives are not paying members. Recognized revenue depends on member engagement and contract terms; the model does not assume every covered life becomes billable.
- Cash from advance billing can reverse as services are delivered. Working capital excludes acquired opening balances; there is no complete deferred-revenue balance-sheet rollforward.
- Company FCF includes capitalized software. Its Q2 2025 comparative adds back pre-IPO employer payroll taxes; current-period cash is not adjusted for ordinary ongoing payroll taxes.
- The $86M new-office base-rent commitment spans the lease term and is not immediate capex. Fit-out timing, tenant allowances and acquired intangibles are approximate. No forward EPS, valuation or discretionary buyback forecast is provided.
What the memory says
State as of the 2026-09-18 close: in a 120-day uptrend, above its 200-day, near the 52-week high, with a clear path above, heavy volume, closed mid-range, and some peers moving
| Vs the market, in points | Low | Middle | High | Share up |
|---|---|---|---|---|
| 1 session | -4.3 | -0.0 | +4.3 | 50% |
| 5 sessions | -7.4 | +0.3 | +8.3 | 53% |
| 10 sessions | -9.9 | +0.2 | +13.6 | 51% |
Historical distributions of what followed similar states, measured before today's news. Not a forecast; no side.