I went through the **Q2 FY26 earnings call** and wanted to get the community’s opinion on this stock. Sharing some key takeaways and my understanding would love to hear counter-views or confirmations.
**What looks positive:**
* Customer accounts **+41% YoY**, users **+44% YoY** demand for the product is clearly strong
* Strong **operating leverage**: revenue has nearly doubled over a few years while headcount is almost flat
* Positive Cash Flow
**Concerns / risks:**
* Revenue growth still muted (\~1% YoY) despite strong customer additions
* International business recovery is **work in progress**
* Monetization lag many customers start at lower ticket sizes