Past data is irrelevant given the company is completely changing its strategy moving forward. Their S-1 is very clear, they will be shifting to a capex heavy strategy to build their own compute infrastructure.

Don’t do investment based on a series of heuristics, the actual details are what matters.

Also: Annualized Run Rate isn’t a standard metric. It’s a bullshit metric that doesn’t mean anything without the actual definition the company is using. It’s what startups use to impress gullible investors, not something a serious company relies upon…

It's very easy to grow revenue if you're selling $10 bills for $5.50 https://www.statista.com/chart/12520/moviepass-subscriber-gr...

As someone who uses a Claude enterprise plan at work and DeepSeek on my personal time, I can't imagine why my employer chooses to pay for Claude Code and I assume the accountants will wake up eventually.

But again, who knows? Oracle is still making money somehow.