High-Value Investment Insights
Discover articles with exceptional investment signals and actionable insights from earnings calls
Exceptional Signals (19-20)
Articles with the strongest investment signals, representing significant opportunities or risks
Serve Robotics (SERV) Q2 2025: Delivery Volume Soars 80% as Fleet Expansion Accelerates Toward 2,000 Units
Serve Robotics demonstrates an exceptional growth trajectory with a long reinvestment runway, rapidly improving unit economics, and a disruptive, compounding business model. The company is transitioning to recurring revenue, showing accelerating growth, and strengthening its moat via data and network effects. All signal criteria for high-growth, high-upside businesses are met or exceeded.
Sea Ltd (SE) Q2 2025: Shopee GMV Jumps 28% as Profitability Expands Across All Businesses
Sea Ltd demonstrates a long reinvestment runway, accelerating growth, improving unit economics, and self-reinforcing business model. All segments show positive EBITDA, and the business is compounding at scale with disruptive elements and strong cash flow characteristics. Guidance and backlog suggest exceptional future growth, and the business is firmly in the high-growth category.
ADC Therapeutics (ADCT) Q2 2025: Lotus 7 Delivers 87% Complete Response Rate, Reshaping DLBCL Market Path
ADC Therapeutics' Lotus 7 data represents a step-change in efficacy, with a long reinvestment runway, improving unit economics, and a disruptive business model in a large, evolving market. The business is transitioning toward growth, with accelerating cash flow potential and multiple near-term catalysts that could reshape industry benchmarks and drive substantial upside.
Micron (MU) Q4 2025: DRAM CapEx Jumps to $18B, Tight Supply Drives Margin Surge
Micron demonstrates a long reinvestment runway at high returns, with a disruptive shift to DRAM and AI-centric products. There is a recent, significant uptick in growth and backlog, improving unit economics, self-reinforcing business model, and deepening customer value. The company is transitioning into a high-growth, cash-generative business model with exceptional future prospects based on backlog and guidance.
Broadcom (AVGO) Q3 2025: $110B Backlog Anchored by 63% AI Semiconductor Surge
Broadcom demonstrates a long reinvestment runway at high returns, with a record backlog and accelerating AI-driven growth. Unit economics are improving, the business model is self-reinforcing, and customer value is deepening. The outlook is exceptional, the business model is disruptive, and both revenue and EPS are set to grow at high rates. This is a clear growth business with exceptional signal, justified by the transcript and commentary.
LifeMD (LFMD) Q1 2025: Telehealth Revenue Jumps 70% as Platform Diversifies Into New Verticals
LifeMD is showing clear evidence of a long reinvestment runway, disruptive business model, accelerating growth, and improving unit economics. The company is transitioning into a diversified platform with insurance and Medicare integration, recurring revenues, and expanding margins. The growth outlook is exceptional, and the business is not mature or capped. The article signals high valuation upside and strategic evolution.
CLSQ (WKEY) Q2 2025: Pipeline Surges to $170M as Post-Quantum Demand Accelerates
CLSQ demonstrates a long reinvestment runway, disruptive business model, and accelerating growth (guidance for 59-82% revenue growth, $170M pipeline, margin expansion, and regulatory tailwinds). Unit economics and customer value are improving, and the business is positioned for significant inflection. Signal is exceptional and actionable.
Scholar Rock (SRRK) Q1 2025: Priority Review Sets Up Epidegromab’s Q3 Launch for 35,000 SMA Patients
Scholar Rock is at a major inflection with a first-in-class asset approaching launch in a rare disease with high unmet need. The company has a long reinvestment runway, improving unit economics, a disruptive business model, and is transitioning into a high-growth, cash-generative phase. Backlog and guidance support exceptional forward growth, and the platform offers multi-year optionality. This is a high-signal, high-upside story for investors.
Resolve (RZLV) Q2 2025: ARR Guidance Jumps 50% as Enterprise AI Adoption Accelerates
Resolve is exhibiting hypergrowth with a massive ARR guidance hike (over 50%), accelerating enterprise adoption, and exceptional SaaS margins. The business model is highly self-reinforcing with network effects, deepening customer value, and clear runway for reinvestment at high returns. The company is transitioning into a cash flow machine, growing at rates over 40% annually, and is positioned as a disruptive force in AI commerce infrastructure. All signal criteria are strongly met.
Alnylam (ALNY) Q2 2025: TTR Franchise Surges 77% on Ambutra Launch, Guidance Raised $575M
Alnylam demonstrates a long reinvestment runway (pipeline, global launches), a disruptive RNAi platform, and a step-change in growth (TTR franchise +77%, guidance up $575M). Unit economics and customer value are improving, with accelerating cash flow and global expansion. The business is transitioning to a high-growth, durable leader—offering exceptional signal for investors.
Hesai (HSAI) Q1 2025: Shipments Triple to 200K as ATX LiDAR Drives Volume Breakout
Hesai demonstrates a long reinvestment runway with high returns, exceptional shipment and revenue growth, improving unit economics, and a self-reinforcing platform model. Customer value is deepening, guidance is robust and accelerating, and the business model is disruptive with strong cash flow prospects. Growth rates are well above 40% and the business is transitioning into a high-growth, global leader. All signal criteria are met at the highest level.
Applied Digital (APLD) Q1 2026: $11B CoreWeave Lease Locks in 15-Year Visibility as AI Data Center Build Accelerates
APLD displays extraordinary signal: a long reinvestment runway, disruptive business model, rapidly accelerating growth, and a massive, locked-in backlog. The move from Bitcoin hosting to AI infrastructure with multi-billion dollar contracts and asset-level financing is both rare and highly actionable for investors.
Eli Lilly (LLY) Q1 2025: 45% Revenue Surge as Obesity and Diabetes Pipeline Redefines Growth Trajectory
Eli Lilly demonstrates a long and clear reinvestment runway, with blockbuster growth, margin expansion, and a disruptive business model centered on metabolic disease. The 45% revenue growth, surging product sales, and global pipeline execution all support exceptional signal. The business model is self-reinforcing with manufacturing scale and payer strategy, and the future outlook is for continued high growth. This is a rare, high-signal inflection for a large-cap pharmaceutical company.
EYPT Q1 2025: R&D Spend Up 63% as DuraView Phase 3 Enrollment Surges Past 90%
EYPT demonstrates a high-signal profile: a long reinvestment runway, major clinical milestones, and accelerating growth in both R&D and potential addressable markets. Unit economics are improving with scale, the business model is differentiated and self-reinforcing, and customer (physician/patient) value is deepening. Guidance and backlog suggest exceptional future growth, and the company is positioned as a disruptive, high-growth clinical-stage biotech with clear valuation catalysts.
Tarsus (TARS) Q3 2025: 147% Growth Underscores Xdemvi’s Blockbuster Trajectory
Tarsus demonstrates a rare, high-growth category-creating launch with a long reinvestment runway, disruptive business model, and accelerating cash flow. Growth rates are exceptional, unit economics and customer value are deepening, and the outlook is for continued high-velocity expansion. Signal is unusually strong for a specialty pharma launch.
Astera Labs (ALAB) Q3 2025: PCIe Gen 6 Surges to 20% of Revenue, Signaling Next-Gen AI Infrastructure Shift
Astera Labs is showing clear evidence of a long reinvestment runway, disruptive business model, rapidly accelerating growth (104% YoY, 20% QoQ), improving unit economics, expanding customer value, and strong future guidance. The business is not mature or capped, and is positioned as a key enabler of next-gen AI infrastructure, with both near-term and long-term optionality. Signal is exceptionally high.
Lumentum (LITE) Q1 2026: Cloud and AI Revenue Surges to 60% of Business, Capacity Constraints Drive Margin Leverage
Lumentum demonstrates a long reinvestment runway with high returns, a major inflection in growth and backlog, improving unit economics, and a self-reinforcing business model. Customer value is deepening, guidance is exceptional, and the business is highly disruptive and positioned for strong cash generation. Revenue/EPS growth is likely to exceed 40%, and the company is firmly in growth mode.
MaxLinear (MXL) Q3 2025: Infrastructure Revenue Jumps 75% as Optical and Wireless Ramps Begin
MaxLinear is undergoing a major business model transition with infrastructure-led growth, high returns on capital, and accelerating margins. There are clear, transcript-supported signals of a long reinvestment runway, disruptive business model, and exceptional forward growth. The business is not a legacy staller and is positioned for high revenue and EPS growth.
SoundHound (SOUN) Q2 2025: Revenue Soars 217% as Enterprise AI and Voice Commerce Ignite Expansion
SoundHound demonstrates a long reinvestment runway with high ROIC, triple-digit growth, improving unit economics, a self-reinforcing model, deepening customer value, exceptional guidance revision, a disruptive business model, accelerating cash flow, and clear growth/transition characteristics. All signals point to a business with outsized optionality and momentum.
MDXH Q2 2025: ExoDx Acquisition to Add $20M+ Revenue, Propelling 30% Growth Ambition
MDXH demonstrates a long reinvestment runway, a disruptive business model, and is entering a high-growth phase with accelerating revenue and margin inflection from the ExoDx acquisition. Unit economics are improving, cross-sell potential is strong, and the business is moving from organic to platform-driven growth. All signal criteria are met at the highest level.
Nextracker (NXT) Q2 2026: Backlog Surges Past $5B as Platform Expansion Drives Global Traction
Nextracker demonstrates a long reinvestment runway, disruptive and self-reinforcing business model, accelerating backlog and revenue growth, improving margins, and deepening customer value. The article evidences a business in high-growth mode with exceptional forward prospects, strong cash flow, and increasing international traction—all supported by transcript-based facts.
Carvana (CVNA) Q2 2025: Retail Units Jump 41% as ADESA Integration Accelerates Scale
Carvana demonstrates a long reinvestment runway, disruptive business model, and self-reinforcing advantages from ADESA integration and finance platform. The company is posting exceptional growth (41% units, 50% inventory), increasing profitability, and raising guidance, with clear evidence of accelerating cash flow and future growth potential. The business is a high-growth, high-ROIC, and disruptive model with strong investor relevance.
Robinhood (HOOD) Q2 2025: Gold Subscribers Jump 75%, Asset Per Customer Doubles as Platform Expansion Accelerates
Robinhood demonstrates a long reinvestment runway with high returns, clear recent business inflections, improving unit economics, and a self-reinforcing business model. Customer value is deepening, growth guidance is exceptional, and the model is disruptive with multiple lateral opportunities. Cash flow is accelerating, and the company is firmly in the high-growth category with revenue and EPS growth exceeding 40%.
AppLovin (APP) Q2 2025: Axon Self-Serve Launch Sets Stage for 77% Revenue Surge and Global Expansion
AppLovin is exhibiting all hallmarks of a business at a major inflection: long reinvestment runway, disruptive model, accelerating growth, and improving unit economics. The Axon self-serve launch and international expansion set up a step-change in scale and vertical diversity. Margin flow-through, cash generation, and model improvement all support a high signal score. The business is not mature or capped, and the upcoming changes are likely to drive further upside.
SITM Q2 2025: Data Center Revenue Soars 137% as Precision Timing Content Expands
SITM demonstrates a long reinvestment runway with high returns, a disruptive and self-reinforcing business model, and exceptional growth rates well above 40%. Unit economics are improving, customer value is increasing, and the business is transitioning into a high-growth phase with accelerating cash flow. The business is not mature or capped, and all signal criteria are strongly met.
Cipher Mining (CIFR) Q3 2025: $5.5B AWS Lease Secures 300MW, Accelerates HPC Pivot
Cipher's pivot to HPC with landmark AWS and Google deals, multi-billion dollar contracted revenue, and a massive pipeline indicate a long reinvestment runway, disruptive business model, and exceptional future growth. Unit economics, customer value, and cash flow trajectory are all improving, with clear evidence of a shift from legacy mining to high-growth infrastructure. This is a rare, high-signal business transformation with significant valuation implications.
MIRUM (MIRM) Q1 2025: Livmarli Tablet Approval and 61% Revenue Growth Signal Rare Disease Leadership
MIRUM demonstrates a long reinvestment runway, significant recent growth, improving unit economics, and a self-reinforcing rare disease model. Customer value is increasing, backlog and guidance are accelerating, and the business is disruptive within its niche. Cash flow is positive and accelerating, with revenue and EPS growth exceeding 40%. The company is clearly in a growth phase with multiple catalysts, making the signal exceptionally high.
Broadcom (AVGO) Q2 2025: AI Semiconductor Growth and VMware Integration Drive Record Results
Broadcom is showing exceptional signal: long reinvestment runway, accelerating AI-driven growth (60% YoY guidance), improving unit economics, and a self-reinforcing business model (recurring software, networking standards). Customer value is deepening, backlog/guidance are robust, and the business is disruptive with accelerating cash flow and high growth. The company is in a clear growth phase with multiple compounding levers.
Madrigal Pharmaceuticals (MDGL) Q3 2025: ResDifera Patient Base Jumps 28%, Secures Path to $1B+ Specialty Franchise
Madrigal demonstrates a long reinvestment runway, disruptive business model, strong unit economics, and accelerating growth with a clear path to multi-billion revenue. The company shows exceptional future potential, high customer value deepening, and robust cash flow acceleration, all supported by the transcript.
Celestica (CLS) Q3 2025: CCS Revenue Soars 43% as 800G Ramp Drives Multi-Year Growth Visibility
Celestica demonstrates a long reinvestment runway with high returns, clear inflection in growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, backlog and outlook are exceptional, and the business is disruptive with accelerating cash flow. Growth rates exceed 40% in key segments, and the company is firmly positioned as a growth business, supported by transcript-based evidence.
BrightSpring Health (BTSG) Q3 2025: Specialty and Infusion Revenue Surges 42%, Margin Expansion Accelerates
BrightSpring is showing clear, exceptional business momentum: 42% specialty and infusion growth, strong margin expansion, accelerating cash flow, and a robust pipeline. The business model is disruptive, self-reinforcing, and scaling with high returns. Guidance and backlog signal continued acceleration, and the company is transitioning into a high-growth, high-margin category with ample reinvestment opportunities.
Clearwater Analytics (CWAN) Q2 2025: Gross Margin Surges to 77.4% as Integrated Platform Drives Synergy
Clearwater Analytics demonstrates a long reinvestment runway, disruptive platform, and accelerating growth (ARR up 83%, revenue guidance up 61-62%). Margins and cash flow are expanding rapidly, with strong NRR and high retention. The business model is self-reinforcing, and the strategic pivot to growth plus AI leverage signals exceptional future prospects. The business is clearly in a hyper-growth phase with high signal for investors.
Bloom Energy (BE) Q3 2025: Revenue Surges 57% as AI Power Demand Drives Fourfold Capacity Ambition
Bloom Energy is showing exceptional business momentum: a long reinvestment runway, disruptive business model, accelerating growth, improving margins, and clear evidence of structural demand from AI/data center buildouts. The company is transitioning to a high-growth, high-margin business with global optionality and a self-reinforcing model. All signal criteria are robustly met.
UXIN Q4 2024: Retail Volume Jumps 178% as Superstore Model Scales Profitability
UXIN demonstrates a long reinvestment runway, a disruptive business model, and clear evidence of accelerating growth and margin expansion. Unit economics are improving, the business is transitioning to high-margin retail, and digital enablement deepens competitive advantages. The company is achieving triple-digit growth and positive EBITDA, with guidance and execution supporting a high-signal, high-upside investment case.
United Therapeutics (UTHR) Q3 2025: Tyvaso DPI Drives 7% Revenue Growth as IPF Pipeline Accelerates
United Therapeutics demonstrates a long runway for reinvestment at high returns, with significant recent developments (best-in-class IPF data, double-digit Tyvaso DPI growth, and pipeline catalysts). Unit economics are improving, and the business model is self-reinforcing with high customer value over time. The outlook is exceptional with accelerating growth, disruptive innovation, and strong cash flow. Guidance and pipeline suggest >40% growth potential, and the business is clearly in a high-growth phase.
ADMA (ADMA) Q1 2025: Yield Enhancement Approval Unlocks 20% IG Output Surge, Margin Expansion Pathway
ADMA demonstrates a long reinvestment runway with high ROIC potential, a disruptive margin-enhancing process, accelerating growth, and strong operating leverage. Guidance revisions, margin inflection, and balance sheet strength all point to a business with exceptional forward prospects, cash flow generation, and strategic insulation. The signal is unusually high, with clear evidence of a business entering a new phase of value creation.
Taysha Gene Therapies (TSHA) Q3 2025: Breakthrough Designation Secured as 100% Response Rate Achieved in High-Dose Cohort
Taysha exhibits a long reinvestment runway, breakthrough regulatory progress, and accelerating clinical/commercial momentum. The business model is disruptive with high optionality, unit economics are improving as scale is reached, and customer (patient) value is rising. Guidance and backlog suggest exceptional future growth, and the business is transitioning to a high-growth, cash-generative phase with significant upside potential.
Modine (MOD) Q2 2026: Data Center Sales Up 42% as Capacity Buildout Drives Margin Inflection
Modine is at a clear inflection point, with a long reinvestment runway, disruptive business model shift, and exceptionally high growth in a structurally expanding market. The data center business is rapidly scaling, with improving unit economics and clear evidence of self-reinforcing advantages. Guidance and backlog signal accelerating growth, and the transition from legacy to high-growth segments is well underway. The article provides strong evidence for high signal across all criteria.
FUTU (FUTU) Q1 2025: Funded Accounts Jump 48% as AI and Global Expansion Accelerate
FUTU demonstrates a rare combination of explosive growth (funded accounts up 48%, assets up 60%, trading volume up 140%), improving margins, and self-reinforcing business model (brand, tech, cross-sell, stickiness). The business is clearly in a phase of inflection, with new vectors (AI, crypto, global expansion) showing tangible traction. Unit economics and customer value are both improving, and the company is not a well-known legacy business—there is clear valuation upside and thesis relevance.
Tesla (TSLA) Q3 2025: AI5 Chip Targets 40x Leap, Accelerating Real-World AI Expansion
Tesla demonstrates a long reinvestment runway with high ROIC prospects, disruptive business model expansion, and exceptional growth signals across AI, robotics, and energy. There are clear inflections in backlog, guidance, and operational scaling. The business is positioned as a growth leader with accelerating cash flow and strong customer value expansion.
Digital Turbine (APPS) Q2 2026: International ODS Revenue Surges 80%, Reshaping Global Mix
Digital Turbine demonstrates a long reinvestment runway, significant recent growth (international ODS up 80%), improving unit economics, and a self-reinforcing business model via proprietary data and AI. Customer value is increasing, guidance is raised, and the business model is disruptive with cash flow acceleration. Revenue and EPS growth are above 20%, and the business is clearly in a growth phase.
UXIN (UXIN) Q2 2026: Retail Volume Soars 154% as Superstore Model Scales Nationwide
UXIN is demonstrating exceptional growth (over 130%+ forecast, 154% actual retail volume growth), a disruptive and scalable superstore model, improving unit economics, and clear digital/data-driven competitive moats. The business is not mature or capped, and the outlook/guidance implies continued hypergrowth. All signals point to a high-growth, high-ROIC, self-reinforcing business with significant runway.
Sezzle (SEZL) Q1 2025: Revenue Soars 123% as Subscription and On-Demand Drive Margin Expansion
Sezzle demonstrates a long reinvestment runway, disruptive business model, rapidly improving unit economics, and exceptional growth. Revenue and margin expansion are accelerating, and the business is evolving quickly with high returns on capital and strong cash flow. The article provides clear evidence of a high-growth, compounding business with significant upside, making it highly signal-rich for investors.
Lumentum (LITE) Q4 2025: Cloud & Networking Jumps 67% as AI Demand Drives Supply Constraints
Lumentum demonstrates a long reinvestment runway, exceptional recent growth, improving unit economics, and a self-reinforcing business model with deepening customer value. The company's future is exceptional based on backlog and guidance, and the disruptive business model is supported by accelerating cash flow and high revenue growth. The business is clearly in a growth phase, with substantial upside potential as capacity unlocks.
Xpeng (XPEV) Q1 2025: Deliveries Rocket 331% as AI Vehicle Strategy Drives Margin Expansion
Xpeng displays exceptional signal: a long reinvestment runway, disruptive AI-first business model, rapidly improving unit economics, and accelerating growth. The 331% delivery growth, margin expansion, and global expansion with proprietary tech integration support a thesis of compounding advantage and high upside. The business model is self-reinforcing, with clear evidence of compounding returns and exceptional future growth potential.
Symbotic (SYM) Q2 2025: Backlog Tops $22.7B as Deployment Timelines Compress
Symbotic demonstrates a rare combination of accelerating growth, expanding backlog, improving unit economics, and a disruptive business model with a long reinvestment runway. The article evidences exceptional business momentum—backlog up massively, margin and cash flow gains, and a runway for multi-year compounding—making this a highly actionable and signal-rich piece for investors.
CLSQ (LAES) Q2 2025: R&D Spend Jumps to $4.7M, Accelerating Post-Quantum Chip Roadmap
CLSQ demonstrates a rare convergence of long runway, disruptive model, and accelerating growth potential. R&D and M&A activity are building clear competitive moats, with improving unit economics and customer value. The business is transitioning from flat to potentially hyper-growth, with guidance and backlog suggesting >50% annual revenue growth. Regulatory and market timing risks are noted, but the upside signal is strong and actionable.
Compass Pathways (COMP) Q3 2025: NDA Timeline Accelerated by 9–12 Months on Phase 3 Execution
Compass Pathways demonstrates a long reinvestment runway in a disruptive, high-growth sector (psychedelic therapies for TRD and PTSD), with accelerated regulatory milestones, strong unit economics, and clear indicators of future growth. The NDA timeline has been materially advanced, commercial and clinical infrastructure is being built in parallel, and the business model is highly differentiated. The outlook for revenue and EPS growth is robust, with the company positioned as a growth business.
American Battery Technology (ABAT) Q4 2025: Revenue Triples as Reno Recycling Plant Hits 70% Throughput Lift
ABAT demonstrates a long reinvestment runway, disruptive business model, and exceptional growth rates with accelerating cash flow. There is clear operational leverage, self-reinforcing dynamics, rapidly improving unit economics, and deepening customer value. Federal backing and index inclusion further de-risk the story, and the business is squarely in growth mode.
Credo (CRDO) Q4 2025: 180% Revenue Surge Signals Hyperscaler, Optical, and AEC Acceleration
Credo is showing a rare combination of rapid, high-quality revenue growth (180% YoY), margin expansion, and operating leverage. There are clear signs of a long reinvestment runway, disruptive business model, improving unit economics, and customer value deepening. Recent growth and backlog acceleration are exceptional, with guidance suggesting continued outperformance. The business is directly exposed to secular AI infrastructure tailwinds, making it an unusually high-signal opportunity.
Celldex (CLDX) Q1 2025: 41% Complete Response Rate at 7 Months Drives New CSU Paradigm
Celldex exhibits a long reinvestment runway, a disruptive and differentiated business model, and is showing exceptional growth potential in a large, underserved market. The phase 2 data is a major business evolution with high signal for future value creation. Unit economics, retention, and customer value are all improving, and the future outlook is exceptional based on guidance and physician enthusiasm.
ASX Q3 2025: LEAP Drives $1.6B AI Revenue Surge, Margin Expansion on Track
ASX exhibits a long reinvestment runway with high ROIC, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, backlog and guidance are exceptional, and the business is disruptive with accelerating cash flow. Revenue and EPS growth are well above 40%, and the company is clearly in a high-growth phase.
Travere Therapeutics (TVTX) Q1 2025: Filspari Sales Surge 182% YoY, Setting Up FSGS Launch
Travere demonstrates a long reinvestment runway, exceptional recent growth (182% YoY Filspari sales), improving unit economics, self-reinforcing business model, and deepening customer value. The business model is disruptive within rare nephrology, with accelerating cash flow and revenue growth projected well above 40% annually. The company is transitioning into a growth leader, with multiple near-term catalysts and strong operational leverage.
AAON (AAON) Q1 2025: Backlog Soars 84% as Data Center Demand and Refrigerant Transition Reshape Growth
AAON demonstrates a long reinvestment runway with high ROIC, a massive 84% backlog surge, and business model evolution toward data center cooling and heat pumps. Unit economics in the new segments are improving, and the model is increasingly self-reinforcing with vertical integration and customer diversification. Customer value is increasing with larger, multi-year projects. Guidance and backlog signal exceptional future growth, and the business is disruptive within HVAC. Cash flow is poised to accelerate post-ramp, and the company is squarely in high-growth territory. The signal is extremely high for investors seeking secular growth and operational leverage.
Innoviz (INVZ) Q2 2025: Unit Shipments Set to Surge 10x on OEM Ramp and Non-Auto Expansion
Innoviz is at an inflection point with a 10x unit ramp, high growth, expanding margins, and a disruptive, self-reinforcing business model. The article demonstrates clear evidence of accelerating growth, strong customer economics, and a long reinvestment runway. The business is not mature or capped, and the future outlook is exceptional.
AeroVironment (AVAV) Q4 2025: Backlog Surges 82% as Blue Halo Deal Expands $1.2B Bookings Pipeline
AVAV demonstrates exceptional signal: the business has a long reinvestment runway, is showing a massive backlog surge, and is transitioning into a multi-domain, high-growth defense tech leader. Unit economics are improving, the business model is self-reinforcing, and customer value is deepening with international expansion. Guidance and backlog indicate accelerating growth, and the company is positioned as a disruptive, cash-generative platform with strong forward momentum.
ECO (ECO) Q2 2025: Suezmax Spot Rates Jump 60% as Fleet Age, Iran, and OPEC Shifts Reshape Tanker Economics
ECO demonstrates a long reinvestment runway, clear unit economics improvement, and a disruptive, self-reinforcing business model with accelerating cash flow. The company is positioned for high growth (spot rates up 60%, guidance for continued rate strength), and the tanker market's structural scarcity and compliance bifurcation create exceptional future prospects. The business is not mature or capped, and the thesis is highly actionable for investors seeking upside from industry inflection.
Tarsus (TARS) Q1 2025: Xdemvi Sales Surge 217% as DTC and Medicare Access Unlock Prescriber Shift
Tarsus demonstrates a long reinvestment runway with high returns, a disruptive business model, and clear evidence of accelerating growth (217% sales increase, prescriber frequency shift, pipeline/global expansion). Unit economics and customer value are improving, with strong backlog/guidance. The business is at an inflection from launch to category leadership, with self-reinforcing commercial advantages and cash flow acceleration likely. This is a high-signal, high-upside growth story.
Cellcuity (CELC) Q2 2025: $287M Capital Raise Extends Runway for Potential $5B Breast Cancer Launch
Cellcuity demonstrates a long reinvestment runway, exceptional recent developments (clinical data and capital raise), improving unit economics, a self-reinforcing business model, increasing customer (physician/payer) value, a disruptive approach in oncology, and is transitioning to a high-growth, cash-generating commercial stage. The forward guidance and backlog (pipeline) are strong, and the business is positioned for >40% growth with a multi-billion-dollar market opportunity.
Duos Technologies (DUOT) Q2 2025: Recurring Revenue Jumps 280% as Edge Data Center Pipeline Scales Toward 65 Installs
Duos Technologies demonstrates a clear, high-growth inflection with a 280% recurring revenue surge, robust backlog, and a disruptive edge data center business model. Unit economics are strong, with improving margins and operating leverage. The business is shifting to high-visibility, recurring revenue with a long runway, and guidance and backlog suggest accelerating growth. The model is self-reinforcing with long-term contracts, and the company is transitioning from legacy stagnation to a growth trajectory with exceptional upside.
Oracle (ORCL) Q4 2025: Cloud Acceleration and AI-Driven Demand Push Revenue and Guidance to New Highs
Oracle is demonstrating a long reinvestment runway, exceptional growth in backlog and cloud revenue, improving unit economics, and a disruptive, self-reinforcing business model. The business is transitioning from legacy to high-growth, with accelerating cash flow and clear guidance for continued outperformance. Signal is extremely high across all dimensions.
Credo (CRDO) Q1 2026: AEC Revenue Rises 279% as Hyperscaler Demand Drives Diversification
Credo demonstrates a long reinvestment runway, exceptional recent growth, improving unit economics, self-reinforcing business model, deepening customer value, and strong guidance for continued acceleration. The business is clearly disruptive, with cash flow and earnings growing rapidly, and is positioned as a growth leader in a high-value segment. All signals point to high investor relevance and upside.
Syndax (SNDX) Q3 2025: Revuforge Scripts Jump 25% as NPM1 Approval Triples Addressable Market
Syndax shows a long reinvestment runway, a significant addressable market expansion, improving unit economics, and a self-reinforcing business model. Customer value is increasing, guidance is exceptional, and both drugs are ramping quickly. The business is disruptive, cash flow is accelerating, and revenue/EPS growth is well above 40%. This is a clear growth business at a major inflection.
Willdan (WLDN) Q2 2025: Organic Growth Hits 23%, Cross-Selling and Data Center Demand Accelerate Pipeline
Willdan demonstrates a long reinvestment runway with high returns, as evidenced by 23% organic growth and margin expansion. There are significant recent developments (data center demand, cross-selling, pipeline visibility). Unit economics and margins are improving. The business model is self-reinforcing through recurring contracts and software integration. Customer value is deepening, and future growth is exceptional based on backlog and guidance. The business is disruptive, cash flow is accelerating, and revenue/earnings growth is well above 20%. Willdan is clearly a growth business, not a legacy staller.
MasTec (MTZ) Q2 2025: Backlog Climbs 23% as Communications and Clean Energy Bookings Accelerate
MasTec exhibits a long reinvestment runway with high returns, significant backlog growth, improving unit economics, a self-reinforcing business model, and customers becoming more valuable over time. The business is experiencing an inflection with accelerating growth and margin expansion, is disruptive in its segments, and is transitioning into a high-growth, cash-generative phase. The score reflects clear signals of exceptional business evolution and investor relevance.
Xpeng (XPEV) Q2 2025: Deliveries Soar 242% as Turing AI Platform Accelerates Margin Rebound
Xpeng demonstrates a long reinvestment runway, disruptive business model, and rapidly accelerating growth in deliveries and revenue. Unit economics and margins are improving, the AI platform and Volkswagen partnership provide self-reinforcing advantages and recurring revenue streams, and the business is transitioning to a high-growth, premium global contender. The signal is exceptionally high for forward-looking investors.
TSMC (TSM) Q2 2025: AI-Driven Platforms Power 38% Revenue Surge Amid Overseas Margin Drag
TSMC demonstrates a long reinvestment runway with high ROIC, exceptional growth (38%+), improving unit economics, and a self-reinforcing business model. Customer value is increasing, guidance is exceptional, and the business is both disruptive and a cash flow machine. Revenue and EPS growth are well above 40%, and the business is firmly in a growth phase.
Amphenol (APH) Q1 2025: IT Datacom Jumps 134%, Reshaping Segment Mix and Margin Trajectory
Amphenol demonstrates a rare combination of explosive segment growth, margin expansion, and strategic flexibility. The Datacom surge is both material and transformative, unit economics are improving, and the business model is self-reinforcing. The company is positioned for high growth and cash flow generation, with clear evidence of disruptive potential and a long reinvestment runway.
BridgeBio (BBIO) Q1 2025: Atruby Launch Delivers $36.7M, Accelerating Genetic Medicine Platform
BridgeBio demonstrates a long reinvestment runway, disruptive model, accelerating revenue, and strong pipeline optionality. The business is transitioning into high growth, with exceptional launch metrics, improving unit economics, and a self-reinforcing commercial model. All major signal criteria are met or exceeded.
Carvana (CVNA) Q3 2025: Retail Units Jump 44% as Same-Day Delivery and Automation Redefine Scale
Carvana exhibits a long reinvestment runway, disruptive business model, and accelerating growth. The article documents record unit/revenue growth, margin expansion, and operational leverage, with evidence of improving unit economics and self-reinforcing automation. Backlog and guidance signal continued exceptional growth, and the model is cash generative. The business is clearly in high-growth mode, not a legacy stall, and the signal is both strong and actionable.
Amazon (AMZN) Q3 2025: AWS Backlog Hits $200B, Unlocking AI Infrastructure Scale
Amazon demonstrates a long reinvestment runway with high ROIC in AI/cloud, exceptional backlog growth, improving unit economics, and a compounding business model. Customer value is deepening, guidance is accelerating, and the business is highly disruptive with strong cash flow momentum. Revenue and EPS growth are robust, and the company is firmly in growth mode. All signal questions are fully satisfied by the transcript evidence.
MP Materials (MP) Q2 2025: DoD $400M Infusion and Apple $500M Contract Anchor 10X Magnetics Expansion
The company has a long reinvestment runway, clear disruptive business model, and is experiencing a step-change in backlog and contracted revenue. Unit economics, cash flow, and customer value are all improving. The business model is self-reinforcing with government and blue-chip corporate contracts, and the future outlook is exceptional with strong growth and margin insulation. The article provides high signal for investors seeking substantial upside.
Applied Optoelectronics (AAOI) Q2 2025: 8x CATV Growth Signals Scale Inflection as 800G Ramp Nears
AAOI is experiencing a dramatic inflection in scale, with CATV revenue up 8x and strong data center growth. The business model is self-reinforcing, with expanding customer base, improving margins, and a clear runway for high-ROIC reinvestment. Guidance and backlog signal exceptional future growth, and the company's strategic pivot positions it as a disruptive, high-growth player.
Palantir (PLTR) Q2 2025: U.S. Commercial Revenue Soars 93%, Fueling Record $2.3B Bookings
Palantir exhibits all hallmarks of a high-signal, high-upside business: a long reinvestment runway, disruptive business model, accelerating growth, improving unit economics, and self-reinforcing platform dynamics. Exceptional backlog and guidance revisions, deepening customer value, and operational leverage further support a top score. The article clearly demonstrates why Palantir is a thesis-relevant, actionable opportunity for investors.
Futu (FUTU) Q2 2025: International Funded Accounts Surpass 50%, Powering 70% Revenue Upside
Futu demonstrates a long reinvestment runway, significant growth inflection, improving unit economics, and a self-reinforcing business model. Customer value is deepening, guidance is strong, and the business is clearly disruptive with accelerating cash flow and revenue growth well above 40%. The company is transitioning firmly into a high-growth, global platform.
Tempest (TEM) Q1 2025: Data Contracts Top $1B as Genomics Revenue Jumps 89%
Tempest exhibits all the hallmarks of a high-signal, inflecting business: a long reinvestment runway, disruptive data/AI-driven business model, accelerating growth (both revenue and contract value), improving unit economics, and high-visibility backlog. The foundation model deals and robust hereditary/genomics expansion indicate both exceptional future prospects and a transition to a platform model. Signal is unusually high for the sector and stage.
Huize (HUIZ) Q2 2025: AI-Driven Expense Ratio Drops 16.6 Points as Premiums Surge 73%
Huize is demonstrating a long reinvestment runway with high ROIC, a disruptive and self-reinforcing business model (AI, digital insurance), and exceptional growth in both premiums and international markets. Unit economics and customer value are clearly improving, and the business is transitioning into a high-growth, cash-generative phase. The inflection in expense ratio, premium mix, and international leverage all signal significant valuation upside.
GOTU Q2 2025: AI-Driven Productivity Cuts Net Loss by 50%, Unlocks 38% Enrollment ROI Surge
GOTU is exhibiting a clear business model transformation with AI-driven operating leverage, a long reinvestment runway, and accelerating growth (over 40% YoY). Unit economics, retention, and ROI are improving, while the hybrid and diversified product model is disruptive and self-reinforcing. Cash flow and capital allocation are strong, and the business is firmly in growth mode. The signals are exceptional and highly actionable for investors.
Solaris Energy Infrastructure (SEI) Q3 2025: Power Solutions Revenue Surges to 60% of Mix as AI Data Center Demand Accelerates
SEI demonstrates an exceptional growth runway, a massive recent uptick in backlog, improving unit economics, and a disruptive, vertically integrated business model targeting AI data center demand. The business is rapidly transitioning into a high-growth, cash-generative infrastructure provider with clear strategic advantages and accelerating financials. Signal is very high for investors.
Nebius (NBIS) Q2 2025: ARR Guidance Raised to $1.1B as GPU Capacity Ramps
Nebius demonstrates an exceptional growth profile: hypergrowth rates, improving unit economics, a disruptive business model, and a long reinvestment runway. The business is transitioning from supply constraint to scalable growth, with enterprise traction and strong capital allocation. All signal criteria are strongly met, indicating high potential for valuation upside.
Ocular Therapeutix (OCUL) Q3 2025: $445M Financing Extends Cash Runway, Accelerates Expaxly Phase 3 Ambitions
OCUL demonstrates a long reinvestment runway with clear plans to redeploy capital into high-value late-stage programs. The $445M financing is a major recent development that materially increases growth potential and financial flexibility. Unit economics and operational execution are improving, and the business model is differentiated with potential for disruption and market expansion. Forward guidance and pipeline milestones suggest the business is transitioning to a high-growth, value-defining phase.
Nvidia (NVDA) Q2 2026: Blackwell Drives 17% Sequential Platform Growth, Extending AI Infrastructure Lead
Nvidia is demonstrating hypergrowth with a long reinvestment runway, accelerating product cycles, and deepening competitive moats. All signal criteria are satisfied at the highest level: exceptional growth, improving economics, self-reinforcing model, disruptive potential, and clear evidence of a transition to a cash flow machine. The business is not only high growth but also pivotal to a multi-trillion dollar industry shift.
Ondas (ONDS) Q2 2025: Backlog Doubles to $22.8M as Autonomous Defense Demand Accelerates
Ondas demonstrates a long reinvestment runway, disruptive business model, accelerating backlog (doubling YoY), improving unit economics, and a clear transition to growth with recurring revenue. The company is not mature or capped, and guidance plus backlog suggest revenue and EPS growth well above 40% annually.
ARS Pharmaceuticals (SPRY) Q1 2025: NEFI Coverage Doubles to 57%, Tipping Point for Needle-Free Epinephrine
ARS Pharmaceuticals demonstrates a disruptive business model with a significant growth runway: insurance coverage more than doubled, pediatric expansion is underway, and a major DTC campaign is launching. Unit economics are poised to improve with scale, and the business model is self-reinforcing as prescriber and patient adoption deepen. Backlog/guidance points to an inflection in growth. The business is transitioning to a high-growth, high-cash flow profile, with international optionality and clear evidence of accelerating revenue and market share potential.
NVT Q2 2025: Backlog Quadruples, Data Center Surge Drives 24%+ Full-Year Growth Outlook
NVT demonstrates a long reinvestment runway with high incremental returns, a quadrupled backlog, and accelerating growth in high-value infrastructure/data center verticals. Unit economics and margins are improving, the business model is self-reinforcing, customer value is deepening, and guidance revisions are exceptional. The business is disruptive, cash flow is accelerating, and growth rates are well above 40%. The company is firmly in the 'growth business' category, with strong evidence of a major inflection.
Alphabet (GOOG) Q3 2025: Cloud Backlog Jumps 46% as AI Demand Redefines Growth Profile
Alphabet demonstrates a long reinvestment runway with high ROIC, a massive and accelerating cloud backlog, improving unit economics, and a self-reinforcing business model with deepening customer value. The business is highly disruptive, with accelerating cash flow and revenue/earnings growth well above 20%. This is a clear growth business with exceptional signal for investors.
CERV Robotics (SERV) Q1 2025: Delivery Volume Surges 75% as Fleet Expansion Accelerates
CERV Robotics demonstrates a long reinvestment runway with high incremental returns (hardware cost reductions, platform transition), a major inflection in delivery and revenue growth, improving unit economics, and a self-reinforcing business model (network, software, data). Customer value is rising, the business is disruptive, and guidance points to further acceleration. The company is transitioning from pilot to scalable operations, with all metrics signaling a high-growth, high-potential business.
Shift4 (FOUR) Q2 2025: Global Blue Adds $300M Revenue, Accelerating International and Luxury Retail Expansion
Shift4 demonstrates a long reinvestment runway, disruptive business model, accelerating growth, and expanding margins. The Global Blue acquisition opens new verticals and geographies, with clear evidence of high ROIC, compounding unit economics, and a self-reinforcing model. The forward guidance and backlog indicate exceptional growth. Risks are present but well-articulated, and the business is positioned as a high-growth, high-signal opportunity.
Palantir (PLTR) Q3 2025: U.S. Commercial Revenue Soars 121%, Cementing AIP’s Enterprise AI Dominance
Palantir demonstrates a rare combination of explosive growth (121% US commercial, 63% total), margin expansion, and operating leverage. Bookings, backlog, and customer metrics are exceptional, and the business model is both disruptive and self-reinforcing. The article evidences a step-change in enterprise AI adoption and business quality.
Personalis (PSNL) Q1 2025: MRD Test Volumes Surge 52% as Reimbursement Milestones Near
Personalis demonstrates a long reinvestment runway, disruptive business model, and clear inflection as evidenced by 52% sequential test growth and rapid biopharma expansion. Unit economics are improving, margins have upside post-reimbursement, and the company is on track for high growth. The model is self-reinforcing via biopharma and clinical channels, and the business is positioned for accelerated revenue and margin expansion.
LSAK Q4 2025: EBITDA Guidance Rises 42%, Integration Delivers Scale and Margin Leverage
LSAK demonstrates a long reinvestment runway with high ROIC, significant growth in backlog and revenue, improving unit economics, a self-reinforcing business model, increasing customer value, and accelerating cash flow. The business model is disruptive with clear lateral opportunities, and forward guidance signals exceptional growth. The company is transitioning from integration to operational leverage, with all signal questions strongly supported by evidence from the call.
Dayforce (DAY) Q2 2025: Bookings Surge 40% as Full Suite and AI Attachments Accelerate Recurring Revenue Path
Dayforce demonstrates a long reinvestment runway, a disruptive and self-reinforcing business model, and accelerating growth metrics. Bookings surged over 40%, recurring revenue is set to accelerate, and unit economics are improving with scale. AI and SI ecosystem expansion provide lateral growth opportunities, and the company is transitioning into a high-margin, cash-generative business. All signals point to a high-growth, high-quality compounder with significant upside.
Ligand (LGND) Q2 2025: Royalty Revenue Surges 57% as Pipeline and Portfolio Expansion Drive Upward Guidance
Ligand demonstrates a long reinvestment runway, exceptional recent growth, improving unit economics, and a self-reinforcing business model. Customers are becoming more valuable, guidance is raised with accelerating growth, and the business is disruptive with strong cash flow acceleration. Revenue and EPS growth are well above 40%, and the company is clearly in a high-growth phase.
MicroStrategy (MSTR) Q2 2025: Preferred Equity Raises Hit $5.6B, Accelerating Bitcoin-Backed Capital Engine
MicroStrategy demonstrates an extraordinary reinvestment runway, with a disruptive capital markets model and accelerating growth metrics. The business is compounding, with improving unit economics, deepening customer value, and a structurally advantaged model. The capital raising velocity, product innovation, and regulatory tailwinds all point to exceptional future prospects and clear valuation upside.
MicroStrategy (MSTR) Q1 2025: Bitcoin Holdings Climb to 553,555 as Capital Plan Expands to $84B
MicroStrategy demonstrates a long reinvestment runway at high returns, a step-change in business evolution (doubling capital plan, massive BTC accumulation), improving unit economics, a self-reinforcing business model, deepening customer value, exceptional growth guidance, a disruptive model, accelerating cash flow, and top-tier growth metrics. The business is clearly a high-growth, high-signal story likely to be of strong interest to investors seeking upside.
Modine (MOD) Q1 2026: Data Center Revenue Outlook Raised 45% as $100M Capacity Build Unleashes Growth
Modine is demonstrating a rare, high-signal inflection: a 45%+ data center growth outlook, a $100M capacity build, and a path to $2B in new revenue lines. Unit economics and margins are set to improve, the business model is shifting to self-reinforcing (recurring, high-value customers), and backlog/guidance revisions are exceptional. This is a disruptive pivot away from legacy markets, with accelerating revenue and cash flow likely. Signal is unusually high for an industrial company.
Syndax (SNDX) Q2 2025: Revuforge Sales Jump 43% as Early-Line Adoption Drives Multi-Year Upside
Syndax demonstrates a rare blend of accelerating growth, improving unit economics, disruptive model, and a long reinvestment runway. Both franchises are early in adoption curves, with high recurring revenue, strong cash flow, and multiple expansion catalysts. The business model is self-reinforcing, customer value is deepening, and guidance/market signals point to exceptional future growth.
Merus (MRUS) Q1 2025: 63% Confirmed Response Rate in Head and Neck Cancer Redefines Accelerated Approval Odds
MRUS demonstrates a long reinvestment runway, disruptive and defensible business model, and accelerating growth. The magnitude of the clinical data (63% ORR, 79% 12-month OS) and rapid operational execution signal a pivotal business evolution. The business is positioned for exceptional future growth, with high-value inflection points (accelerated approval, platform leverage) and improving unit economics. All signal criteria are strongly met.
LightPath (LPTH) Q4 2025: Backlog Quadruples to $90M as Infrared Systems Strategy Accelerates
LightPath demonstrates a long reinvestment runway, disruptive model, massive backlog growth (over 40%), improving unit economics, and a transition to higher-value systems. Guidance and backlog signal exceptional forward growth, with accelerating cash flow potential and a multi-year growth runway. The business is clearly in a high-growth phase with significant upside.
Gevo (GEVO) Q2 2025: $22M Tax Credit Monetization Unlocks Recurring Profitability Runway
Gevo demonstrates a long reinvestment runway, disruptive business model, and recurring high-margin revenue sources. The business is shifting to recurring profitability, with strong optionality in carbon and tax credit markets, improving unit economics, and robust cash flow potential. Growth rates are strong, though not consistently above 40%.
BlackSky (BKSY) Q1 2025: Backlog Jumps 50%, Gen-3 Satellite Drives Multi-Year Demand Visibility
BlackSky demonstrates a long reinvestment runway (Gen-3, new contracts), a disruptive model (AI analytics, vertical integration), and a 50% backlog surge. Unit economics and customer value are improving, and the business is transitioning to higher-margin, recurring analytics revenue. The only deduction is for revenue growth, as guidance implies less than 40% YoY (but above 20%). Otherwise, the signal is very high, with clear inflection and upside potential.
BioCryst (BCRX) Q1 2025: Paid Patient Rate Surges 10 Points, Accelerating Profitability Timeline
BioCryst demonstrates a rare, high-signal business inflection: a sudden paid patient rate surge, rapid pull-forward of profitability, and a clear path to $1B sales. The business model is self-reinforcing, with improving unit economics, high customer value, and accelerating cash flow. The pipeline offers near-term catalysts and diversification. The only deduction is for revenue/EPS growth, which, while strong, is not above 40% YoY. Overall, this is a high-signal, high-upside business with substantial investor relevance.
ANTA (ANTA) Q2 2025: Margin Loan TVL Jumps 50% as Collateral Innovation Expands TAM
ANTA demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and accelerating growth. The business is clearly in a high-growth phase with expanding TAM and operating leverage. The only deduction is for Q6, as future guidance is strong but not yet at an exceptional (30%+ acceleration) level based on the evidence provided.
Liquidia (LQDA) Q2 2025: Eutrepia Prescriptions Top 900 in 11 Weeks, Accelerating Prostacyclin Market Disruption
Liquidia demonstrates rapid growth, disruptive business model, improving unit economics, and a long runway with high returns. The only deduction is for future growth outlook, which is strong but not yet proven to be exceptional (>30% acceleration) beyond the initial launch phase. All other signal factors are robust and well-supported by the call.
DLocal (DLO) Q2 2025: TPV Surges 53% as Merchant Diversification Accelerates
DLocal demonstrates a long reinvestment runway, disruptive business model, and accelerating growth with significant merchant and geographic diversification. Unit economics, operating leverage, and cash flow are improving. The only deduction is for guidance not indicating 'exceptional' (30%+) acceleration, but otherwise the signal is very high.
Planet Labs (PL) Q1 2026: Backlog Surges 140%, Locking In Growth Acceleration Signal
Planet Labs demonstrates a long reinvestment runway (defense/sovereign contracts, AI, satellite services), a massive 140% backlog surge, improving unit economics (margin, cash flow), and a self-reinforcing business model (multi-year contracts, platform effects). Customers are becoming more valuable (higher ARPA, longer terms), and guidance/outlook signals growth acceleration. The business is disruptive with a capital-light evolution (sovereign satellite model, AI leverage). Cash flow is inflecting. The only deduction is for revenue/EPS growth, which, while strong, is not consistently >40% annualized based on guidance.
Comfort Systems USA (FIX) Q2 2025: Backlog Surges 41% as Tech and Modular Drive Record Margins
FIX demonstrates a long, high-return reinvestment runway, with a 41% backlog surge, accelerating growth, and clear improvements in margin and cash flow. The business model is self-reinforcing, with modular and service segments adding resilience and optionality. While the model is not fundamentally disruptive, it is semi-disruptive with modular expansion. All other signals—backlog, margin, customer value, and capital allocation—are exceptional, supporting a very high score.
Sophia Genetics (SOPH) Q3 2025: 180% Jump in Large Deal Value Signals Pipeline Inflection
Sophia Genetics demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. There is a clear inflection in deal value and pipeline, with biopharma turning from headwind to tailwind. Cash flow is improving, but revenue/EPS growth is guided at mid-teens to 20%+ (not 40%+), hence a slight deduction. Overall, the company is positioned as a growth business with exceptional signal for investors.
KRMN Q2 2025: Backlog Surges 36%, Locking in Multi-Year Defense Demand Visibility
KRMN demonstrates a long reinvestment runway with high returns, a disruptive business model, and self-reinforcing dynamics through backlog and acquisition strategy. The business is growing rapidly (over 30% YoY) with improving unit economics and cash flow. The only deduction is for revenue/EPS growth not exceeding 40% (guidance at 32%). Otherwise, the business is positioned for exceptional growth, with strong evidence of future upside.
NOVA (NVMI) Q1 2025: Revenue Jumps 50% as Gate-All-Around and Advanced Packaging Drive Outperformance
NOVA’s results and outlook reflect a high-growth, disruptive business with a long reinvestment runway and improving unit economics. The business model is self-reinforcing, with expanding customer value and accelerating cash flow. The only slight deduction is for guidance not being 'exceptional' (over 30% acceleration) but still strong. Otherwise, the company is well-positioned for continued growth and outperformance.
Planet Labs (PL) Q2 2026: Backlog Soars 245%, Locking In Multi-Year Revenue Visibility
Planet Labs demonstrates a long reinvestment runway, disruptive business model, and accelerating growth, with a 245% backlog surge and clear operational leverage. Unit economics, customer value, and self-reinforcing business dynamics are all improving. The only minor deduction is for forward revenue/EPS growth, which may not consistently exceed 40% annually, but all other indicators are very strong for a high-signal, high-upside business at a strategic inflection.
Amicus Therapeutics (FOLD) Q3 2025: Pompe Revenue Up 45% as Global Launch Accelerates
Amicus demonstrates a long reinvestment runway, clear growth inflection (notably in Pompe), improving unit economics, and a self-reinforcing rare disease model. There is strong evidence of customer value deepening and accelerating performance. The business is not fully disruptive, but pipeline and label expansion provide significant optionality, supporting a high signal score.
Aurora (AUR) Q3 2025: Driverless Miles Double in 5 Weeks, Cementing Sun Belt Expansion Path
Aurora demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and clear operational/technical inflection points. The doubling of driverless miles, rapid lane expansion, hardware cost breakthrough, and customer adoption all signal a business transitioning to high growth and scale. Only the near-term revenue/EPS growth is not yet >40%, so one point is deducted there. Otherwise, this is a high-signal, thesis-changing update.
Upwork (UPWK) Q3 2025: AI-Driven GSV Jumps 53% as Marketplace Take Rate Climbs
Upwork is showing a genuine inflection with AI-led growth, improved unit economics, and a disruptive business model with expanding TAM. AI-related GSV growth is exceptional, margins are strong, and the business is transitioning to a higher-value, self-reinforcing platform. The only deduction is for revenue/EPS growth not exceeding 40% overall, but all other signal factors are present and strong.
Rhythm Pharmaceuticals (RYTM) Q3 2025: Patient Growth Up 10% as HO Launch Nears, Setting New Rare Disease Trajectory
Rhythm is positioned for a transformative launch with a large new addressable market (HO), strong patient and revenue growth, improving unit economics, and a self-reinforcing rare disease platform. The business is disruptive within rare disease, cash flow is improving, and growth is exceptional but not quite at the 40%+ level for revenue/EPS. The company is not a household name and offers meaningful upside.
CrowdStrike (CRWD) Q2 2026: Falcon Flex Adds $180M ARR, Cementing Platform Expansion Path
CrowdStrike demonstrates a long reinvestment runway, high module attach rates, and strong ARR growth drivers, supported by new business models and AI-native advantages. The business is clearly in a high-growth phase, with evidence of exceptional backlog growth and improving unit economics. The only deduction is for revenue/EPS growth rate, which is strong but not consistently above 40%.
Paymentus (PAY) Q2 2025: Enterprise Billers Drive 41.9% Revenue Surge, Visibility Extends Into 2026
Paymentus demonstrates a long reinvestment runway, disruptive platform, and accelerating growth with exceptional backlog and margin leverage. The only deduction is for guidance not signaling a further acceleration beyond already high growth. Otherwise, the business model, cash flow, and strategic positioning are exceptional and highly relevant for investors.
Vista (VIST) Q3 2025: Production Jumps 74% as Well Tie-Ins Accelerate Output Trajectory
Vista demonstrates a long reinvestment runway, exceptional recent growth, improving unit economics, and a self-reinforcing model. Customer value is deepening, guidance is being raised, and the business is clearly in a high-growth phase. The model is not fully disruptive but is semi-disruptive given the export orientation and M&A appetite.
Inspired Entertainment (INSE) Q2 2025: Interactive EBITDA Jumps 50%, Digital Mix Drives Margin Upside
INSE demonstrates a long reinvestment runway, clear business evolution (50% interactive EBITDA growth), improving unit economics, self-reinforcing digital model, and deepening customer value. Guidance and backlog point to further growth, and the business model is disruptive and asset-light. Revenue growth is strong but not clearly above 40%, so question 9 is scored conservatively. Overall, signals are very strong for investors seeking digital transformation stories.
IREN Q4 2025: Bitcoin Mining Capacity to Double, AI Cloud Revenue Hits $3.1M as Expansion Accelerates
IREN demonstrates a long reinvestment runway, disruptive dual-engine growth, and improving unit economics. There is clear evidence of operational leverage, cost leadership, and optionality from power/land assets. AI cloud is early but growing, and Bitcoin mining is scaling rapidly. The only slight deduction is for future guidance not yet showing exceptional acceleration in AI, but overall signal is very high.
Hims & Hers (HIMS) Q1 2025: Personalized Solutions Push Monthly Subscriber Revenue Up 50%, Setting Global Platform Ambitions
Hims & Hers exhibits a long reinvestment runway with high returns, clear disruptive model, and accelerating growth (revenue up 111%, ARPU up 50%, subscriber base up 38%). Unit economics and operational leverage are improving, with evidence of compounding effects from personalization and partnerships. The only area not scoring top marks is the future outlook, which—while strong—shows some near-term volatility and lacks clear >30% acceleration in forward guidance.
Flowtech (FTK) Q1 2025: Data Analytics Revenue Jumps 57% as PowerTech Acquisition Reshapes Margin Outlook
Flowtech demonstrates a long reinvestment runway with high returns, a step-change in backlog and margin profile, and clear improvements in unit economics and business model quality. The shift to recurring, analytics-driven revenue and international expansion are disruptive, self-reinforcing, and support a transition to a high-growth, cash-generative business. The only deduction is for revenue/EPS growth, which is strong but not quite at the highest threshold for the upcoming year. Overall, this is a high-signal, high-potential business transformation.
CrowdStrike (CRWD) Q2 2026: Falcon Flex Drives 40% Net New ARR Acceleration Into H2
CrowdStrike demonstrates a long reinvestment runway with high ROIC, a major inflection in growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and the outlook is exceptional with at least 40% net new ARR growth guided for H2. The business model is disruptive, cash flow is accelerating, and the company is a clear growth business. The only deduction is for revenue/EPS growth, which is guided at 20–22% YoY, just below the 20%+ threshold for a perfect score.
Strong Signals (16-18)
Articles with valuable investment signals that merit attention
BrainsWay (BWAY) Q2 2025: $62M Backlog Anchors Multi-Year Lease Expansion
BrainsWay demonstrates a long reinvestment runway with high returns (recurring revenue, expanding backlog), clear recent business evolution (25% backlog growth, record shipments), improving unit economics, and a self-reinforcing model via enterprise and minority stake strategies. Customer value is increasing, but growth guidance is strong rather than exceptional, and revenue growth is guided at just above 20%. The business is disruptive in its space, with accelerating cash flow and a growth orientation. However, signal is capped by the lack of >40% growth and some risk around customer concentration and regulatory timing.
Camtek (CAMT) Q2 2025: New Systems Drive 30% of Sales, Positioning for Advanced Packaging Surge
Camtek demonstrates a long reinvestment runway, disruptive business model, and improving unit economics with new product adoption. There is clear evidence of high growth in advanced packaging, strong customer traction, and margin expansion. While not all growth metrics exceed the 40% threshold, the business is at an inflection with accelerating demand from secular AI and memory tailwinds. Risks are present but do not materially detract from the signal.
Camtek (CAMT) Q2 2025: New Systems Drive 30% of Sales as Advanced Packaging Demand Accelerates
Camtek demonstrates a long reinvestment runway with high returns, disruptive product cycles, and accelerating new product adoption driving growth. The business model is compounding, customers are becoming more valuable, and cash flow is strong. While growth is robust, some metrics (like guidance) suggest high but not exceptional acceleration, and the company, though high-growth, is not entirely unique or undiscovered in the sector. Risks from competition and cyclical spend temper the upside signal.
Paymentus (PAY) Q2 2025: Enterprise Billers Drive 42% Revenue Surge, Backlog Extends Growth Visibility
Paymentus demonstrates a long reinvestment runway, disruptive and scalable business model, improving unit economics, and accelerating enterprise penetration. The backlog and guidance provide strong growth visibility, though growth rates are strong but not consistently above 40% for all metrics, and future growth is robust but not yet at an exceptional acceleration. Cash flow and capital flexibility are clear. The company is not a legacy or mature business, but a growth platform with high strategic signal.
Legend Biotech (LEGN) Q2 2025: CARVICTI Sales Jump 136%, Expanding Early-Line Adoption and Global Reach
Legend Biotech demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a self-reinforcing platform. There is rapid growth, strong customer value expansion, and operational leverage. While growth is exceptional, the guidance for future acceleration is good but not extraordinary (>30%+), so some questions are scored conservatively. Overall, the business is in a high-growth phase with clear valuation upside.
Sterling Infrastructure (STRL) Q2 2025: Data Center Backlog Surges 44% as E-Infrastructure Margins Expand
Sterling demonstrates a long reinvestment runway, a massive surge in backlog, improving unit economics and margins, and a self-reinforcing business model driven by mission-critical projects. Customer value and cash flow are both increasing, with secular tailwinds in data centers and e-commerce. The model is not fully disruptive, and near-term growth, while strong, is not at hypergrowth levels, but the signal is very high.
Cadence (CDNS) Q1 2025: IP Business Jumps 40% as AI Drives Portfolio Expansion
Cadence shows a long reinvestment runway, disruptive business model, improving unit economics, and a self-reinforcing ecosystem. The 40% IP revenue jump, AI adoption, and recurring revenue highlight strong growth signals. However, growth guidance for the full year is not above 40%, and while future prospects are strong, the acceleration is not yet exceptional enough for perfect marks.
JFrog (FROG) Q2 2025: Cloud Revenue Jumps 45% as Security and AI Model Registry Fuel Platform Stickiness
JFrog demonstrates a long reinvestment runway, disruptive business model, self-reinforcing platform, and strong customer value expansion, supported by high NDR and multi-year commitments. Cloud and security are driving growth, and the business is transitioning into a foundational infrastructure provider. However, while growth is robust, it is not yet at a consistently exceptional (30%+) level, and some future guidance is moderately conservative. The business is not entirely unknown but is showing meaningful evolution.
Marqeta (MQ) Q2 2025: Non-Block TPV Growth Triples Block, BNPL and Europe Drive 29% Surge
Marqeta shows a long reinvestment runway, disruptive business model, and accelerating growth in new verticals and geographies. Unit economics and margin profile are improving, and the platform is clearly diversifying beyond its legacy client. However, the growth guidance for the next quarters is strong but not at the exceptional (30%+) level, which tempers the signal score slightly. Still, the business presents high signal for investors seeking structural growth and margin expansion in fintech infrastructure.
AEP (AEP) Q2 2025: Contracted Load Jumps 20% to 24 GW, Fueling $70B CapEx Surge
AEP shows a rare, high-visibility growth inflection for a utility, with contracted load up 20% and a $70B CapEx plan, all underpinned by regulatory tailwinds and strong balance sheet. The business model is not fully disruptive (question 7), and revenue/EPS growth is strong but not at the extreme upper end. However, the scale, visibility, and self-reinforcing elements of the business model (transmission moat, customer contracts, regulatory reforms) are exceptional for the sector and provide substantial valuation upside.
Arista Networks (ANET) Q2 2025: Full-Year Growth Raised to 25% on AI Networking Surge
Arista is at a rare inflection point with a long runway, strong unit economics, and a disruptive business model. The guidance raise and AI networking surge are material, but while growth is strong, it is not consistently above 40% for every metric, and guidance revision is not exceptional enough for a perfect score. The business is not entirely unknown, but the article surfaces clear signals of compounding value and operational leverage.
Adaptive Biotechnologies (ADPT) Q2 2025: MRD Revenue Jumps 42% as EMR Integration Accelerates Community Penetration
Adaptive Biotechnologies demonstrates a long reinvestment runway (EMR, community channel), clear inflection in profitability, and improving unit economics with scale. The business model is increasingly self-reinforcing via integration and contracting, and customer value is rising. Growth is strong (42% MRD, 36% total revenue), but not quite at the 40%+ threshold for maximum scores in all categories. The business is disruptive and now profitable at the segment level, with accelerating cash flow characteristics and a credible path to further growth, though not at a hypergrowth rate.
Amprius (AMPX) Q2 2025: SICOR Shipments Up 450%, Unlocking Positive Gross Margin Inflection
Amprius demonstrates a long reinvestment runway, disruptive business model, and improving unit economics. The 450% YoY SICOR shipment growth and margin inflection are highly material. The contract manufacturing and policy tailwinds provide self-reinforcing advantages, and customer value is deepening. While growth is strong, guidance does not suggest >40% forward revenue/EPS growth, so some scores are capped. The outlook is robust but not yet exceptional (>30% acceleration).
Axon (AXON) Q2 2025: New Products Drive 33% Revenue Surge as AI Bookings Hit $150M
Axon demonstrates a long reinvestment runway, disruptive and self-reinforcing business model, and strong customer value expansion. Bookings growth and premium bundle penetration are exceptional, but the growth outlook for revenue/EPS is under 40% (not a 2). Guidance is strong but not at an 'exceptional' (30%+) acceleration. The business is clearly in a high-growth, compounding phase with industry-wide implications, justifying a very high but not perfect signal score.
Clover Health (CLOV) Q2 2025: Membership Surges 32% as Tech-First Model Drives Market Share Gains
Clover Health demonstrates a long reinvestment runway, disruptive tech-enabled business model, and superior unit economics. Membership and revenue growth are well above industry rates, and the transition to a four-star payment year provides an exceptional catalyst. While near-term growth is strong, the forward guidance implies growth moderating to the low-30% range, which slightly limits the top score. Still, the company is positioned as a high-growth, high-signal story with meaningful valuation upside.
Samsara (IOT) Q2 2026: $105M Net New ARR Driven by Record 17 $1M+ Customers
Samsara demonstrates a long reinvestment runway, strong unit economics, and a self-reinforcing business model with growing customer value. The business is transitioning into a scaled, enterprise growth phase with clear disruptive potential and cash flow leverage. While growth is strong (30% ARR growth), it is not above 40%, and guidance is measured rather than exceptional. The signal remains high, though not at the absolute peak for a truly explosive business.
Upstart (UPST) Q2 2025: Model 22 Drives 102% Revenue Surge as Home and Auto Hit $100M Originations
Upstart demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a self-reinforcing platform. The 102% revenue growth and rapid scaling of new verticals are significant. However, the future guidance, while strong, is not accelerating at an exceptional rate, and revenue growth, while high, is not projected to sustain over 40% annually. The company is a growth business with clear optionality and operational leverage, but with some moderation in forward momentum.
Halozyme (HALO) Q2 2025: Royalty Revenue Surges 65%, Accelerating Durable Platform Leverage
Halozyme demonstrates a long reinvestment runway, high-margin compounding growth, improving unit economics, and a disruptive business model. Royalty revenue is surging, and the business is transitioning to a cash flow machine. However, while growth is strong, it is not consistently above 40% across all metrics, and the guidance revision is positive but not exceptional (hence a 1 on Q6 and Q9).
CuriosityStream (CURI) Q2 2025: AI Licensing Revenue Surges 53%, Reinventing Media Monetization Model
CuriosityStream is exhibiting a major business model transformation with a long runway for reinvestment at high returns, strong operational leverage, and a disruptive new revenue stream in AI licensing. Growth is significant and recurring, and the business model is highly scalable and self-reinforcing. The only partial deduction is for future growth guidance being good but not yet exceptional, and revenue growth not definitively above 40% going forward. The signal is high and highly relevant for investors.
Supermicro (SMCI) Q4 2025: AI Platform Revenue Climbs 47% as Data Center Solutions Gain Traction
Supermicro demonstrates a long reinvestment runway, disruptive business model, and strong growth in AI infrastructure with improving unit economics and customer value. While growth is robust, the guidance for next year is strong but not at the exceptional acceleration threshold for a perfect score on some questions. The company is not entirely undiscovered, but the inflection in DCBBS and margin recovery is not yet widely priced in, making the signal high but just shy of maximum.
Coupang (CPNG) Q2 2025: Taiwan Revenue Surges 54% QoQ, Escalating Investment Cycle
Coupang displays a long reinvestment runway with high returns, especially with Taiwan's hypergrowth and core margin expansion. There is a recent, significant business evolution (Taiwan revenue +54% QoQ), clear improvement in unit economics, and a self-reinforcing model (repeat customer spend, automation, AI). Customer value is deepening, and the business model is disruptive with a long runway. Cash flow is strong, though near-term free cash flow is pressured by investment. Growth rates are robust but not consistently above 40% at the consolidated level, and developing offerings are still loss-making. The business is firmly in growth mode but not at the very top end of acceleration across all metrics.
Genius Sports (GENI) Q2 2025: European Soccer Rights Drive 24% Revenue Growth and Margin Upside
Genius Sports demonstrates a long reinvestment runway, disruptive business model, and improving unit economics, with clear evidence of self-reinforcing advantages and rising customer value. Recent rights wins and media sellouts show strong business evolution, though growth rates are above 20% but not consistently above 40%. Cash flow and margin expansion are accelerating, and the business is in a clear growth phase. Signal is high, though not at the absolute maximum due to the absence of >40% growth and only 'good' (not exceptional) outlook upgrades.
Audity (ODD) Q1 2025: Gross Margin Expands 116bps as D2C Model Powers 27% Growth
Audity demonstrates a long reinvestment runway (international, new brands, tech/AI), high and improving margins, and a disruptive D2C business model with strong repeat revenue and customer retention. Growth is above 20% but not exceeding 40% for the upcoming year, so not the very highest tier. Backlog/guidance revisions are strong but not 'exceptional' (30%+ acceleration). The business is clearly in a growth phase with multiple optionality levers and accelerating cash flow. The only minor deduction is for growth not being at the absolute top end, but the signal is otherwise very high.
Wix (WIX) Q2 2025: Base 44 ARR Hits $50M, Accelerating AI-Driven Platform Shift
Wix demonstrates a long reinvestment runway, disruptive business model, and accelerating cash flow. ARR and cohort growth are strong, unit economics are improving, and the Base 44 acquisition signals a strategic expansion. However, while growth is robust, guidance does not suggest >40% annual revenue/eps growth, and future outlook, while strong, is not yet exceptional.
GeneDx (WGS) Q1 2025: Exome and Genome Revenue Climbs 62% as NICU, AI, and Fabric Genomics Expand Growth Runway
GeneDx demonstrates a long reinvestment runway, disruptive platform expansion, and improving unit economics. Recent growth is significant (62% YoY exome/genome), with margin and volume momentum. The business model is self-reinforcing and customers are becoming more valuable. While growth is exceptional, near-term guidance (30%+) is strong but not >40%, and some revenue streams (biopharma, SaaS) are still ramping. The business is in clear growth mode, but the signal is just shy of the absolute maximum due to some elements (backlog, guidance) not being at the most extreme levels.
Hut 8 (HUT) Q2 2025: 90% of Energy Capacity Locked Under Contract, Power-First Model Drives Structural Shift
Hut 8 shows a long runway for reinvestment at high returns, a disruptive dual-platform model, and a massive, contracted pipeline with clear optionality in both AI and Bitcoin. Unit economics and cash flow are improving, and customer value is deepening via long-term partner alignment. Growth is strong but not exceptional (>20% but <40%), and while the business is transitioning to recurring yield, the full impact of the AI pipeline is not yet realized. The model is self-reinforcing, with infrastructure-like returns and strategic partnerships, but some acceleration is still pending.
Lilly (LLY) Q2 2025: GLP-1 Franchise Powers 38% Top-Line Surge, Capacity Expansion to 1.8x Fuels Long-Term Growth
Lilly demonstrates a long runway for reinvestment at high returns, a disruptive business model in GLP-1s, and improving unit economics with scale. The business is transitioning to a growth compounder, with strong evidence of self-reinforcing advantages (capacity, DTC access, pipeline). While growth is very strong, recent guidance revisions and backlog do not reach the highest acceleration thresholds. The market is large and early, but as a known leader, the absolute signal is slightly tempered by already high investor awareness.
DigitalBridge (DBRG) Q2 2025: Co-Invest Margins Jump 30% as Power Bank Hits 21GW
DBRG demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and high-margin growth. There is strong evidence of margin expansion, capital formation, and a differentiated power strategy. The only slight deduction is for growth guidance (10-20% YoY) and backlog/guidance not being truly exceptional (>30% acceleration), though overall signal is very high.
ServiceTitan (TTAN) Q2 2026: Operating Margin Jumps 510bps as AI Automation Scales Across Trades
ServiceTitan demonstrates a long reinvestment runway, significant margin and growth acceleration, improving unit economics, and a self-reinforcing business model. The business is disruptive within field services and is compounding its platform advantage. Guidance and backlog signal strong but not explosive growth (>20% but <40%), and the business is in a clear growth phase. The only deduction is for forward guidance not indicating >40% growth.
Flowtech (FTK) Q2 2025: Data Analytics Gross Profit Jumps to 63%, Reshaping Margin Outlook
Flowtech demonstrates a long reinvestment runway with high returns, a disruptive shift to high-margin recurring revenue, and improving unit economics. The PowerTech acquisition and data analytics growth are significant business evolutions, and the model is self-reinforcing. Customer value is rising, and the business is transitioning to a cash flow machine. While guidance implies strong growth, it is not over 40% annually, so some signal points are capped. Overall, this is a high-signal, growth business with substantial valuation upside.
Natera (NTRA) Q2 2025: Signatera Volumes Jump 20,000 Units, Fueling $80M Guidance Raise
Natera demonstrates a long reinvestment runway, disruptive business model, and clear operating leverage. The recent surge in Signatera volumes and margin expansion are highly significant, but future growth rates, while strong, are not guaranteed to remain above 40%. AI commercialization and reimbursement are emerging but not yet fully realized. Overall, the signal is very high, though not quite at the absolute maximum given some dependencies and future execution risk.
Weave (WEAV) Q3 2025: Payments Revenue Doubles, AI Automation Expands Share in Specialty Medical
Weave demonstrates a disruptive, high-growth SaaS/payments model with a long reinvestment runway, improving unit economics, and deepening customer value. Payments revenue is doubling, AI automation is scaling, and specialty medical is a large, underpenetrated vertical. The business model is self-reinforcing with workflow integration and compliance moats. Some growth metrics (overall revenue/EPS) are not yet above 40% annually, and guidance is solid but not exceptional, which slightly constrains the score.
Sunrun (RUN) Q2 2025: Storage Attachment Hits 70%, Unlocking Grid Services Margin Upside
Sunrun demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong customer value growth. Grid services and storage attachment are compounding, and cash flow is accelerating. While guidance is strong, growth is not consistently above 40%, and future outlook—though positive—is not yet exceptional, warranting a conservative score. The business is clearly in growth mode, but not at the very highest inflection.
Arm (ARM) Q4 2025: Smartphone Royalties Surge 30%, Powering AI-Driven Royalty Upside
Arm demonstrates a long reinvestment runway, disruptive business model, and accelerating royalty leverage. The company is compounding its network effects, customer value, and business model optionality. However, guidance for growth is strong but not exceptional (not >40%), and macro uncertainty tempers the outlook. The overall signal is high due to Arm’s strategic repositioning and structural royalty expansion, but not at the absolute maximum due to the lack of full-year guidance and some macro caution.
Remitly (RELY) Q2 2025: Remitly Business Drives 10x TAM Expansion, Anchoring Platform Shift
Remitly demonstrates a long reinvestment runway, major TAM expansion, improving unit economics, and a disruptive, self-reinforcing platform model. The business is transitioning to a multi-segment fintech, with accelerating cash flow and strong retention. However, Q3 and FY25 guidance, while robust, does not indicate >40% annualized growth, and adoption risk for new features remains. Signal is very high but not at the absolute maximum.
SAHRN (CRNC) Q3 2025: Variable License Revenue Jumps 48% as AI Platform Drives OEM Adoption
SAHRN demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and growing customer value. The shift to recurring revenue and AI platform traction are highly strategic. While growth is strong, Q4 normalization and macro headwinds temper the outlook, thus not a perfect score. Still, the company is positioned as a growth business with accelerating cash flow and high strategic signal.
Lyft (LYFT) Q2 2025: FreeNow Adds 25% Partnership Penetration, Expanding Global Platform Leverage
Lyft is showing strong evidence of a long reinvestment runway (FreeNow, AV, partnerships), clear recent business evolution (FreeNow, partnership penetration), improving unit economics (driver engagement, cancellation rates), and a self-reinforcing model (network effects, platform leverage). Customer value is deepening, future growth is strong (but not yet exceptional/acceleration >30%), and the business model is disruptive. Cash flow and profitability are accelerating, and the company is in growth mode. Revenue growth is guided to mid-teens, so not over 20%+ for the next quarter, but the overall business evolution is significant.
Qifu Technology (QFIN) Q1 2025: Share Count Drops 11% as AI-Driven Take Rate Rises
Qifu shows a long reinvestment runway, disruptive AI-driven business model, and self-reinforcing economics. There is clear evidence of margin expansion, higher take rates, and customer value improvement. Share count reduction and strong capital return are exceptional for EPS accretion. Growth is robust but not hyper-accelerating (guidance 24-31% YoY). The business is not entirely unknown, but the combination of AI transformation, embedded finance, and aggressive buybacks delivers high signal for potential upside.
Tuya (TUYA) Q1 2025: AI Smart Solutions Drive 47% Growth, Platform Model Scales Global Reach
Tuya displays strong signal: a long reinvestment runway, disruptive AI-driven model, improving unit economics, and customer value deepening. Growth is robust (not hypergrowth), and cash flow is accelerating. Guidance is cautious but business momentum and platform leverage are clear, supporting a high but not perfect signal score.
Bloom Energy (BE) Q1 2025: Gross Margin Expands 1,120 bps as Onsite Power Demand Accelerates
Bloom Energy demonstrates a long reinvestment runway, strong recent growth (margin and revenue), improving unit economics, and a disruptive, self-reinforcing business model. Customer value is increasing, and the business is transitioning into a growth phase, but guidance does not suggest >40% topline acceleration, and some risks (regulatory, macro) temper the signal. Still, this is a high-signal, high-upside story for investors.
Xometry (XMTR) Q3 2025: Marketplace Gross Margin Jumps 210bps on AI-Powered Expansion
Xometry demonstrates a long reinvestment runway, disruptive business model, strong self-reinforcing platform effects, and improving unit economics. The business is growing rapidly (over 20% but under 40%), with accelerating gross margin and clear cash flow improvement. Backlog/guidance is strong but not quite exceptional (not over 30% acceleration). The company is still transitioning supplier services, which modestly tempers the overall signal, but the marketplace business is firmly in high-growth territory.
Riot Platforms (RIOT) Q3 2025: Data Center Buildout Commits $214M, Shifting 112MW to AI Demand
Riot is at a major inflection, with a long reinvestment runway, disruptive pivot, and strong self-reinforcing model. The business is not yet posting exceptional (30%+) growth, but the strategic shift, backlog, and capital deployment are highly material. Signal is high, but not a perfect 20 due to some uncertainty on immediate growth rates and execution risk.
FTAI (FTAI) Q1 2025: Aerospace EBITDA Jumps 86% as Module Production and SCI Ramp Fuel Margin Expansion
FTAI demonstrates a long reinvestment runway, disruptive and self-reinforcing business model, and clear margin and cash flow acceleration. While growth is strong, it is not consistently over 40%, and guidance, while reaffirmed, isn't exceptional enough for a perfect score. The business is not entirely unknown, but the article surfaces multiple high-signal elements that would be of interest to investors seeking upside.
iRhythm (IRTC) Q3 2025: EHR-Integrated Accounts Surge 25%, Accelerating Volume and Margin Expansion
iRhythm demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and self-reinforcing dynamics through EHR integration and AI. Revenue growth is strong (24-31% YoY), margins are expanding, and cash flow is inflecting. While growth is not quite above 40% and future guidance is prudent, the business is clearly a growth story with significant optionality and strategic positioning, warranting a high but not perfect signal score.
ATEX Q4 2025: $116M Contracted Proceeds Signal Utility Spectrum Demand Surge
ATEX demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong self-reinforcing ecosystem. The business is accelerating contracted proceeds and cash flow, but near-term growth rates are not yet at the 40%+ threshold and future guidance is strong but not exceptional. The business is firmly in growth mode, but some uncertainty remains around regulatory catalysts and pipeline conversion.
YRD Q1 2025: Loan Volume Up 28% as AI and Regulatory Tailwinds Accelerate Platform Dominance
YRD demonstrates a long reinvestment runway, improving unit economics, self-reinforcing AI-driven business model, and deepening customer value. There is clear evidence of disruptive potential and accelerating cash flow. While growth is strong, it is not over 40% at the consolidated level, and forward guidance is for high but not hyper growth, which slightly tempers the signal score.
Alignment Healthcare (ALHC) Q1 2025: Membership Jumps 32% as Margin Expansion Accelerates
ALHC demonstrates a long reinvestment runway, disruptive business model, rapidly improving unit economics, and margin expansion outpacing growth. The business is growing both revenue and profitability at high rates, with clear evidence of operational leverage and self-reinforcing technology advantages. While growth is exceptional, guidance does not suggest 40%+ revenue/EPS growth going forward, and backlog/guidance acceleration is strong but not at the highest tier. The company is not a widely-followed mega-cap, and the signal is high for investors seeking valuation upside.
Alnylam (ALNY) Q3 2025: TTR Franchise Soars 135% as Amvuttra Cardiomyopathy Launch Doubles U.S. Demand
Alnylam demonstrates a long reinvestment runway with high ROIC, a disruptive RNAi platform, and significant franchise expansion (TTR up 135%). Unit economics, customer value, and self-reinforcing dynamics are all strong. There is a recent inflection (Amvuttra launch), but future growth, while robust, is not >40% annually at the consolidated level, and pipeline readouts are several years out, tempering the absolute signal score.
NewTekOne (NEWT) Q2 2025: ALP Securitization Adds $32M Residual, Accelerating Operating Leverage
NewTekOne demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong operating leverage. The ALP securitization is a major business model evolution. However, while growth is strong, it is not above 40% and near-term guidance is solid but not exceptional, warranting a slightly lower score on future acceleration.
Calix (CALX) Q3 2025: RPOs Up 20% as Platform Flywheel and AI Monetization Accelerate
Calix demonstrates a strong platform flywheel, high recurring revenue growth, and clear AI-driven business model evolution. The 20% YoY RPO increase, margin expansion, and broad-based customer base point to a robust growth trajectory. While upcoming catalysts like BEAD funding and international expansion are not yet in guidance, their potential is well-articulated. The only deduction is for future growth guidance (Q4/QoQ) not exceeding 20%+ annually, and BEAD ramp not yet exceptional, but otherwise, the business shows strong disruptive potential and high signal.
SimilarWeb (SMWB) Q2 2025: GenAI Data Hits 8% of Revenue, Powering Multi-Year Contract Upsell
SimilarWeb demonstrates a long reinvestment runway and disruptive model, with evidence of multi-year, high-value AI data contracts and improving unit economics. The business is not yet showing >40% revenue growth but is accelerating in core segments. Cash flow and margin expansion are evident, and the business is clearly in a high-growth phase with strong customer upsell dynamics. Some uncertainty remains in conversion of evaluation deals to ARR, moderating the score.
Jiayin Group (JFIN) Q1 2025: Loan Facilitation Volume Surges 58% as Profitability Mix Shifts
Jiayin demonstrates a long reinvestment runway, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and cash flow is accelerating. However, while the business is high-growth and disruptive for its segment, the international optionality is still emerging, and guidance signals strong but not truly exceptional acceleration. The business is interesting, but not at the very highest tier of signal for a fund manager seeking unique, under-followed opportunities.
Coherent (COHR) Q3 2025: Networking Revenue Jumps 45% as AI Data Center Demand Drives Portfolio Shift
The business demonstrates a long reinvestment runway with high returns, significant recent growth in networking, improving unit economics, and a self-reinforcing, disruptive business model. Customers are becoming more valuable, and cash flow is accelerating. Revenue growth is strong but not consistently above 40%, and guidance, while positive, is not exceptional. The company is clearly a growth business with strong signals for further upside, though not at the highest possible level for all factors.
DigitalBridge (DBRG) Q3 2025: 2.6 GW Leased, Power Bank Drives Record Data Center Commitments
DigitalBridge demonstrates a long reinvestment runway, disruptive business model, and accelerating cash flow. The record leasing, power bank moat, and multi-channel capital formation are highly strategic, but growth, while strong, is not consistently over 40% and carry realization cadence is still emerging.
SITM Q1 2025: Data Center Revenue Jumps 198% as Precision Timing Penetrates AI Infrastructure
SciTime demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and network effects. The company is experiencing explosive growth in the CED segment and has strong design win momentum, but the outlook for >40% overall growth is not fully locked in for the full year, warranting a slightly lower score on growth acceleration. Risks are flagged but do not materially diminish the strong signal.
Coupang (CPNG) Q1 2025: Developing Offerings Spike 67% as FLC and Taiwan Investments Accelerate
Coupang demonstrates a long reinvestment runway, high growth in developing segments (67% YoY), improving unit economics via automation, and a disruptive model with lateral expansion (Taiwan, Eats). The business is self-reinforcing with increasing customer value and accelerating cash flow. Growth is strong (20%+ constant currency), but not yet at the >40% level for consolidated revenue/earnings, and developing offerings remain loss-making, so not all metrics are at the highest tier. Still, the signal is very high for valuation upside and strategic evolution.
ServiceNow (NOW) Q3 2025: AI-Driven Workflows Fuel 55X Consumption Surge, Margin Expansion Ahead
ServiceNow demonstrates long runway, disruptive AI-led business model, improving margins, and strong multi-segment expansion. The 55X AI consumption growth, security ACV milestone, and margin expansion are all highly material, but the growth rate is not over 40% overall and some guidance is prudent rather than exceptional. The business is clearly in a high-growth, self-reinforcing phase but is already well-followed and large, which tempers the upside signal slightly.
Blend Labs (BLND) Q1 2025: Contribution Profit per Loan Jumps 67% as Software Model Accelerates
Blend demonstrates a long reinvestment runway, strong margin expansion, and a disruptive, asset-light platform model. The 67% jump in contribution profit per loan, record free cash flow, and multi-product expansion support high signal. However, growth guidance is solid but not exceptional (>10% YoY, not >30%), and while the business is transitioning to growth, near-term revenue growth is not yet explosive. The model is self-reinforcing, customer value is improving, and the business is positioned for scalable growth as the mortgage market recovers.
Natera (NTRA) Q1 2025: Signatera Clinical Volumes Jump 52% as ASP Expansion Drives Margin Gains
Natera demonstrates a long reinvestment runway with high returns, clear disruptive business model, and compounding advantages. There is strong evidence of improving unit economics, self-reinforcing business model, and increasing customer value. Growth is robust but not consistently above 40% company-wide, and while the future outlook is strong, it is not unequivocally exceptional. The business is clearly in a growth phase with accelerating cash flow.
TransMedics (TMDX) Q1 2025: Liver Drives 48% Revenue Surge as OCS Platform Expands Clinical Lead
TransMedics demonstrates a long reinvestment runway, disruptive model, improving unit economics, and operational leverage. Growth is robust but not quite at the most extreme acceleration, and while future clinical catalysts are strong, near-term guidance is solid but not extraordinary. The business is clearly in a high-growth phase with strong optionality and compounding advantages.
Rubrik (RBRK) Q1 2026: Subscription ARR Jumps 38% as Identity Resilience Expands Platform TAM
Rubrik demonstrates a long reinvestment runway with high returns, a disruptive platform model, and improving unit economics. Subscription ARR and net retention are strong, with large enterprise penetration and multi-product expansion. The business is transitioning to a high-margin, recurring revenue model. While the future is promising, guidance for growth is solid but not yet at an exceptional acceleration level (>30%+), and GenAI monetization is early. The company is a growth business with strong fundamentals, but some future growth vectors (identity, GenAI) are still developing.
GKOS Q3 2025: Epioxa Approval Sets $78K Rare Disease Pricing, Anchoring 2026 Growth Outlook
GKOS demonstrates a long reinvestment runway with disruptive new launches (Epioxa, IDOS-TR), strong early growth signals, and improving unit economics. The business model shows self-reinforcement and increasing customer value. However, the 2026 outlook—while strong—is not yet at the level of exceptional acceleration (>30%+), and near-term corneal health headwinds temper the outlook. Still, the dual-engine growth and rare disease pricing strategy are highly investable signals.
Cloudflare (NET) Q1 2025: $100M+ Workers Deal Signals Enterprise Platform Shift
Cloudflare demonstrates a long reinvestment runway, record enterprise wins, improving unit economics, and a self-reinforcing model with deepening customer value. The business is disruptive with accelerating cash flow and is positioned as a platform leader in AI and Zero Trust. While growth is strong and guidance is prudent, it is not yet at the exceptional acceleration threshold for a perfect signal score. Revenue growth is robust but not over 40%, and the future is highly promising but not yet proven to be truly exceptional.
Guardant Health (GH) Q3 2025: Oncology Volumes Surge 40% as SHIELD Run Rate Hits $100M
Guardant Health demonstrates a long reinvestment runway, disruptive business model, and clear signs of compounding scale and margin expansion. There is exceptional growth in volumes and a step-change in screening run rate, but future guidance, while strong, is not yet at the highest acceleration threshold. The business is clearly a growth leader with improving unit economics and self-reinforcing data and biopharma synergies.
Dynatrace (DT) Q4 2025: Logs Consumption Surges 100%, Cementing Platform-Led Growth Model
Dynatrace demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. The shift to a consumption model and platform-centric approach is driving high-margin, durable growth. While growth guidance is strong, it is not accelerating above 30%, limiting the exceptional score on that metric. The business is clearly in a growth phase, but some caution is warranted given macro uncertainty and the early stage of some new vectors.
Rocket Lab (RKLB) Q1 2025: Backlog Climbs to $1.07B as Neutron and Space Systems Scale
Rocket Lab demonstrates a long reinvestment runway, clear disruptive potential, and a self-reinforcing business model with vertical integration and expanding backlog. The NSSL win and $1B+ backlog are major inflection points, with improving margins and customer value. However, cash flow is not yet accelerating (remains negative), and revenue/EPS growth, while strong, is not yet consistently above 40% annually. The business is firmly in a growth phase with clear optionality and valuation upside, but near-term execution and cash burn temper the absolute signal.
TransMedics (TMDX) Q3 2025: Logistics Revenue Climbs 35% as EU Expansion Takes Shape
TransMedics demonstrates a long reinvestment runway, disruptive business model, and strong compounding advantages via its logistics network. Growth is robust across segments with improving margins, and international expansion plus clinical pipeline provide further optionality. The only deduction is for future growth not being exceptional (30%+ acceleration) and revenue/eps growth expectations in the 20-40% range, not above 40%.
Waystar (WAY) Q3 2025: Iodine Deal Expands TAM by 15%, Accelerating AI-Driven Platform Shift
Waystar demonstrates a long reinvestment runway, rapid business evolution via the Iodine deal, improving unit economics, a self-reinforcing platform, and increasing customer value. Guidance is strong but not at the highest tier, and while revenue growth is robust, it is not over 40%. The business model is disruptive and cash flow is accelerating, making it highly investable with above-average signal.
ASTH Q1 2025: Full-Risk Membership Jumps 590%, Underpinning Value-Based Margin Expansion
Astrana is demonstrating a long runway for reinvestment at high returns, with a disruptive and scalable model. The 590% surge in full-risk membership is a major business evolution, and the company's ability to integrate acquisitions and expand margins is evident. Unit economics are improving as scale increases and the business is positioned for continued growth. While growth is strong, not all metrics are above the 40% mark, and the future, while bright, is not yet at an exceptional acceleration level. The business is clearly in growth mode, not legacy or stalling.
Beta Bionics (BBNX) Q3 2025: Pharmacy Channel Mix Climbs to 32%, Recurring Revenue Tailwind Builds
Beta Bionics is showing a long reinvestment runway, disruptive recurring revenue model, and improving unit economics. Pharmacy channel adoption is a significant recent development, and the business is transitioning to high-margin, subscription-like revenue. Growth is strong but not yet at the exceptional (40%+) rate for future guidance, and the model is still scaling. The signal is high, but as the business is not yet at the highest growth tier, a perfect score is not warranted.
EVgo (EVGO) Q2 2025: $225M Bank Facility Expands Stall Build to 14,000, Slashing Capex Per Stall 28%
EVgo demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and self-reinforcing advantages. Growth is strong but not consistently over 40%, and while future guidance is positive, it is not yet at an exceptional acceleration.
American Healthcare REIT (AHR) Q1 2025: Operating Portfolio Drives 15% Same-Store NOI Growth, Pipeline Tops $300M
AHR shows a long reinvestment runway with high returns, significant growth inflection in the operating portfolio, and improving unit economics. The business model is self-reinforcing and customer value is deepening. The growth outlook is strong but not quite at the highest acceleration tier, and while the model is semi-disruptive, it's not fully disruptive. Revenue and EPS growth are likely in the 20-40% range, and the business is firmly in a growth phase. Signal is high, though not at the absolute maximum due to the business model's moderate disruptiveness and growth rates.
Astera Labs (ALAB) Q1 2025: Scorpio Product Revenue to Exceed 10% of Sales, Anchoring Rack-Scale AI Play
Astera Labs is showing strong evidence of a long reinvestment runway, improving unit economics, and a disruptive, self-reinforcing business model. The company is in a high-growth phase with new products ramping, but the near-term growth guidance is not at the 40%+ acceleration threshold for a perfect score. The future outlook is strong but not exceptional by the rubric's strictest criteria. The business is not yet a household name, but the signal is very high for investors seeking underappreciated AI infrastructure plays.
GeneDx (WGS) Q3 2025: Exome and Genome Volume Up 33%, Fueling Data Flywheel and Margin Expansion
GeneDx demonstrates a long reinvestment runway, accelerating growth, improving unit economics, and self-reinforcing data network effects. Customer value is increasing, and the business model is disruptive with strong cash flow potential. Guidance is robust but not at the highest acceleration tier, and growth is high but not consistently above 40% for all metrics.
Tempus AI (TEM) Q3 2025: Data Licensing Bookings Top $150M, Powering Durable Margin Turn
Tempus AI demonstrates a long reinvestment runway, disruptive data-driven business model, and self-reinforcing assets. There is clear evidence of margin inflection, accelerating bookings, and improving unit economics. However, while growth is strong and strategic optionality is high, the future growth rate is guided to moderate (not >40%) and some execution/monetization uncertainties remain, preventing a perfect score.
BitDigital (BTBT) Q2 2025: ETH Holdings Quadruple to 121K as Treasury Pivot Accelerates
BitDigital is undergoing a major business model transformation with a long reinvestment runway, disruptive ETH treasury model, and rapidly scaling staking operations. The business is moving from legacy mining to a high-yield, scalable platform with strong balance sheet flexibility and non-dilutive growth levers. Some uncertainty remains around the pace of growth and yield, but the inflection is clear and the company is positioned for high returns if execution is maintained.
So-Young (SY) Q2 2025: Aesthetic Center Revenue Jumps 381% as Network Hits 33 Locations
So-Young is at a clear business model inflection with rapid growth in a new, high-margin segment, strong reinvestment runway, improving unit economics, and a disruptive model in a fragmented sector. Some caution remains on cash flow acceleration and the near-term ability to sustain 40%+ revenue growth, but the signal is very high for a multi-year growth story.
VNET (VNET) Q1 2025: Wholesale IDC Revenue Soars 86%, Powering Capacity Expansion
VNET demonstrates a long reinvestment runway (86% wholesale growth, aggressive capex, high utilization), improving unit economics, and a disruptive business model pivoting to AI and wholesale. The model is self-reinforcing, customers are becoming more valuable, and cash flow is accelerating. However, growth guidance is 10-13% for revenue and 15-18% for EBITDA, so not all metrics are at the highest threshold. The business is clearly in high-growth transition, but not all signals point to >40% growth or 'exceptional' status for every metric.
Confluent (CFLT) Q3 2025: Flink Cloud ARR Jumps 70% as AI Context Layer Strategy Accelerates
Confluent demonstrates a long reinvestment runway, disruptive business model, and self-reinforcing platform with clear unit economic improvement. Flink's 70% sequential ARR growth is exceptional, but overall company growth is below 40%. The business is transitioning into scalable, high-margin cloud and AI infrastructure, but the outlook/guidance—while strong—is not at the very highest acceleration tier.
Better Home and Finance (BETR) Q1 2025: Tin Man AI Drives 46% Revenue Growth, Unlocks Platform Scale
BETR demonstrates a long reinvestment runway, disruptive AI-driven business model, improving unit economics, and strong customer value expansion. There is clear evidence of margin expansion, platform adoption, and cost reduction. While growth is strong and accelerating in new channels, the overall business is not yet at the 40%+ QoQ growth threshold for maximum signal in all categories. The outlook is robust, but some execution and macro risks remain.
Comfort Systems USA (FIX) Q3 2025: Backlog Jumps 65% as Tech and Modular Demand Outpace Labor Constraints
FIX demonstrates a long reinvestment runway with high returns, a major step-change in backlog, improving unit economics, and strong customer value deepening. The business is not highly disruptive but is semi-disruptive with modular construction. Revenue growth is well above 20%, and the company is clearly in a growth phase, but network effects and business model disruption are not as strong as pure tech or platform companies.
AMD (AMD) Q3 2025: Data Center Revenue Jumps 22% as AI Partnerships Drive Multi-Year Upside
AMD demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong customer value growth. There is a significant growth inflection (OpenAI partnership, rack-scale deployments), but Q4 guidance is for double-digit—not >40%—growth, so some scores are capped. The business is clearly growth-oriented with accelerating cash flows, but not at the extreme level for a perfect 20.
CoStar Group (CSGP) Q1 2025: Homes.com Sales Force Expands 600%, Accelerating Residential Portal Momentum
CoStar demonstrates a long reinvestment runway, self-reinforcing business model, and improving unit economics. The residential segment shows disruptive potential with a step-change in sales force and agent engagement, though the revenue inflection is just beginning (hence 1 for Q6 and Q9). Commercial remains resilient, and technology integration opens further TAM. The business is clearly in growth mode with high optionality, but the upside is not yet explosive enough for perfect scores across all signal questions.
CyberArk (CYBR) Q1 2025: Recurring Revenue Hits 94% as Machine Identity Deals Double Platform Scope
CyberArk demonstrates a long reinvestment runway, compounding economics, and a disruptive, self-reinforcing platform shift. Machine and AI identity are expanding TAM and deal size, with recurring revenue dominance and accelerating cross-sell. Growth is strong but not at the most extreme levels for all metrics (e.g., ARR guidance is robust but not >40%), justifying a slightly conservative signal score.
DAO (DAO) Q1 2025: Operating Income Surges 248% as AI-Native Strategy Reshapes Profitability
DAO demonstrates strong signals of a business in transformation: long reinvestment runway, improving unit economics, self-reinforcing AI-native models, and deepening customer value. Profitability inflection and product innovation are clear. While revenue growth is not yet above 40% and guidance is for stabilization rather than immediate hypergrowth, the strategic shift and margin expansion suggest significant upside potential. The business is not yet 'exceptional' by all signal metrics but is clearly transitioning into a high-quality, high-margin growth story.
Galaxy Digital (GLXY) Q3 2025: Digital Asset Volumes Surge 140% as Data Center Build Accelerates
Galaxy Digital demonstrates clear evidence of a long growth runway, disruptive business model, and improving unit economics. The business is transitioning to more durable, recurring revenue streams and executing on a major infrastructure build. However, the signal is slightly dampened by the ongoing correlation to crypto cycles and deferred revenue from the Helios project, which keeps the forward growth outlook just below the highest possible tier.
Toast (TOST) Q3 2025: ARR Doubles to $2B as New Verticals Fuel Next-Stage Growth
Toast demonstrates a long reinvestment runway, disruptive platform expansion, improving unit economics, and compounding advantages via scale and AI/data. New verticals and international are scaling rapidly, but forward guidance is robust rather than exceptional, and near-term growth, while strong, is not at the highest acceleration. Nonetheless, the business is a clear growth leader with high investor signal.
Zeta (ZETA) Q3 2025: Athena AI Launch Fuels 28% Organic Growth, Extends Platform Differentiation
Zeta demonstrates a long reinvestment runway, disruptive AI-driven business model, improving unit economics, and deepening customer value. The Athena launch and Marigold acquisition signal further acceleration, though organic growth is in the 20-30% range rather than above 40%, and guidance is strong but not exceptional. The business is in clear growth mode with self-reinforcing advantages and accelerating cash flow.
ETON Q1 2025: Product Sales Jump 76% as Rare Disease Pipeline Accelerates
ETON demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a self-reinforcing commercial model. There is clear recent acceleration in growth (76% YoY sales), pipeline catalysts, and operational leverage. While growth is strong, it does not quite reach the most exceptional thresholds for all questions (e.g., revenue growth is not above 40% annually, and the future outlook, while positive, is not 'exceptional' by rubric definition). Overall, the business is showing high signal and upside potential.
SentinelOne (S) Q1 2026: AI Attach Rate Hits 25% as Platform Expansion Outpaces Legacy Mix
SentinelOne demonstrates a long reinvestment runway with high ROIC, a disruptive platform transition, and strong improvements in unit economics and customer value. AI attach rate and platform mix are accelerating, but near-term ARR growth is modest (22-23%) and guidance is not exceptional, limiting the highest scores for growth velocity. The business is a clear growth story, but not at the very highest inflection point for revenue/EPS acceleration.
NeuroPace (NPCE) Q3 2025: RNS Revenue Jumps 31% as Platform Shift Accelerates Margin Expansion
NeuroPace is entering a phase of high-margin, scalable growth with a disruptive, data-driven model and strong operating leverage. The RNS platform is now dominant, with improving unit economics, clear network/data effects, and early but meaningful data monetization. While growth is robust (20%+), it is not yet 40%+, and some catalysts (like indication expansion) are pending, so the signal score is capped below perfect.
Bitdeer (BTDR) Q2 2025: Self-Mining Hashrate Jumps 162%, Setting Stage for Scale
Bitdeer demonstrates a long reinvestment runway, disruptive vertical integration, and rapidly scaling unit economics. There is a significant inflection in hashrate and ASIC sales, with self-reinforcing business model attributes and deepening customer value. However, while future guidance is strong, it does not quite reach the exceptional acceleration threshold for all metrics, and some growth rates remain below the 40% cutoff. The business is clearly in high-growth mode with substantial optionality.
Genius Sports (GENI) Q1 2025: Betting Revenue Jumps 44% as Tech Flywheel Accelerates
Genius Sports demonstrates a long reinvestment runway, disruptive platform model, and strong evidence of compounding economics (high-margin in-play, expanding exclusive rights, sticky partnerships). The business model is self-reinforcing, and customer value is deepening. Growth is robust but not yet at the highest acceleration, and guidance is strong but not exceptional. Overall, the signal is high for investors seeking platform leverage and optionality.
Grail (GRAL) Q1 2025: Cash Burn Down 40% as Automation Drives Margin Gains
Grail demonstrates a long reinvestment runway, disruptive business model, and strong evidence of improving unit economics and customer value. Automation and repeat testing are driving margin and revenue durability. While growth is strong (20–30% guided), it is not yet at the 40%+ threshold for top marks in all growth-related questions. The business is not yet exceptional on forward guidance but is clearly transitioning to a high-growth profile with significant optionality. Competitive and regulatory risks are present but well-articulated.
Compass Pathways (CMPS) Q3 2025: Launch Timeline Accelerates by 9-12 Months on Phase 3 Execution
Compass Pathways demonstrates a long reinvestment runway, disruptive business model, and clear operational inflection with accelerated timelines and regulatory tailwinds. Unit economics, customer value, and business model compounding are well-evidenced. Cash flow is not yet accelerating (pre-revenue), and near-term growth is contingent on regulatory milestones, so a conservative approach is warranted on those questions.
AppLovin (APP) Q1 2025: Ad Segment Margin Climbs to 81% as Self-Service and AI Scale
AppLovin demonstrates a long reinvestment runway, disruptive business model, and rapidly improving unit economics, with evidence of strong margin expansion and high cash flow conversion. The self-service rollout and AI model upgrades offer clear optionality, but the business is already well-followed and does not show >40% forward growth, so signal is high but not perfect.
Legend Biotech (LEGN) Q1 2025: CARVICTI Sales Up 135% as Early-Line Uptake Accelerates
Legend Biotech displays a long reinvestment runway, disruptive business model, and strong unit economics. CARVICTI sales growth is exceptional (135% YoY), community uptake is accelerating, and manufacturing scale creates a moat. The business is moving toward profitability, with pipeline optionality in in vivo CAR-T and autoimmune. While near-term growth may moderate (guidance for modest sequential growth), the business is clearly in a high-growth phase with strong future prospects.
Inspired Entertainment (INSE) Q1 2025: Digital EBITDA Jumps 79% as Capital-Light Shift Accelerates
INSE demonstrates a long reinvestment runway, disruptive digital model, and strong margin expansion. Digital segment growth is exceptional, and hybrid dealer is scaling with major operators. However, while growth is strong, some headwinds remain in virtual sports and retail, and overall growth rates do not consistently exceed 40% for all segments. The business is clearly in a high-growth phase with accelerating cash flow, but not at the most extreme end of the spectrum.
MercadoLibre (MELI) Q1 2025: Argentina Margin Jumps 11 Points as Commerce and Fintech Outpace LatAm Peers
MercadoLibre demonstrates a long reinvestment runway, disruptive business model, and improving unit economics. There is broad-based double-digit growth, with Argentina margins surging and fintech users/credit portfolio expanding rapidly. The business is self-reinforcing through ecosystem lock-in and category expansion. However, while growth is strong, it is not consistently above 40% at the consolidated level, and guidance does not indicate an exceptional acceleration. MELI is a leading, well-followed platform, so the signal is high but not at the absolute maximum.
Crystal Biotech (KRYS) Q1 2025: 95% Revenue Growth Anchors Global Vizuvac Expansion
KRYS demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and exceptional global expansion optionality. The business is self-funding, with high gross margins and a strong cash position. While growth is robust (95% YoY), the near-term forecast for over 40% revenue/eps growth is not explicit, warranting a slightly lower score on Q9 and Q6. The pipeline provides strong optionality, and the company is transitioning to a global growth leader with durable competitive advantages.
Intuitive Machines (LUNR) Q1 2025: Free Cash Flow Turns Positive as NSNS and LTV Drive 14% Sequential Growth
Intuitive Machines demonstrates a long reinvestment runway with high returns, a disruptive and self-reinforcing business model, and improving unit economics. The shift to positive free cash flow, margin expansion, and a robust backlog provide strong evidence of strategic evolution and growth potential. While not all growth metrics are at the highest acceleration, the company is clearly transitioning into a high-growth, capital-efficient phase with significant optionality and investor relevance.
NYAX (NYAX) Q1 2025: Recurring Revenue Climbs to 77% as Platform Scale Drives 35% Growth
NYAX exhibits a long reinvestment runway, clear business model transformation, improving unit economics, and a self-reinforcing platform. The recurring revenue shift, accelerating device installs, and margin expansion indicate a high-quality growth opportunity. While guidance is reaffirmed rather than raised (hence a 1 for question 6), the business remains disruptive and is rapidly scaling. There is clear evidence of strategic momentum and strong future prospects, though it is not an unknown or underfollowed business, which tempers the signal score slightly.
ICG (ICG) Q1 2025: Aleo Miners Drive 78% Revenue Jump, Margin Surges to 56.9%
ICG demonstrates a long reinvestment runway with high returns, based on rapid product innovation and margin expansion. There is a recent, significant revenue jump (78% QoQ) and backlog growth, with clear improvement in unit economics and self-reinforcing modular hardware strategy. Customer value is deepening via multi-coin support. While growth is strong, the outlook is not yet at the 'exceptional' acceleration level (over 30%+ guidance), so question 6 is scored conservatively. The business model is disruptive, cash flow is accelerating, and the company is positioned as a growth business. However, revenue/EPS growth is not definitively over 40% annually based on current guidance, so question 9 is scored at 1. Overall, signal is strong but not at the absolute maximum.
Carls Med (CARL) Q2 2025: Surgeon Base Jumps 72%, Setting Stage for Platform Expansion
Carls Med shows exceptional signal: a long reinvestment runway, disruptive business model, and accelerating adoption. Revenue is growing at a high double-digit rate, unit economics are strong, and the business model is self-reinforcing with digital and AI-driven advantages. Backlog and guidance are robust, but not at the absolute highest acceleration tier. The business is not yet at consistent 40%+ annual revenue/eps growth, but is near that threshold. Customer metrics and cash flow trajectory are positive, and the company is clearly in a high-growth phase.
Marvell (MRVL) Q2 2026: AI Pipeline Swells to $75B as Optics and Custom Drive Mix Shift
Marvell demonstrates a long reinvestment runway, disruptive AI-centric business model, improving unit economics, and strong customer value trends. Growth is strong but not quite at the exceptional acceleration threshold for all metrics. The business is clearly transitioning into a growth phase with robust capital allocation and competitive positioning, but some guidance is for 'double-digit' rather than >40% acceleration, so not all metrics are maxed.
Procept Biorobotics (PRCT) Q1 2025: Hydros Drives 55% Revenue Growth as IDN Adoption Accelerates
Procept demonstrates a long reinvestment runway with high returns, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and the business model is disruptive in medtech. Margins and cash flow are accelerating, and the company is in a clear growth phase. However, while growth is high, guidance does not indicate consistent 40%+ growth for all metrics, and future outlook, while strong, is not exceptional enough for full marks on every dimension.
Hims & Hers (HIMS) Q3 2025: Personalized Solutions Drive 50% Subscriber Growth, Setting Stage for Diagnostics Expansion
Hims & Hers demonstrates a long reinvestment runway, disruptive model, improving unit economics, and exceptional customer value deepening. There is significant business evolution with diagnostics and international expansion, and the business is transitioning to a platform with high potential. However, near-term growth guidance is below the 40%+ threshold, and while future prospects are strong, the immediate acceleration is moderate, not explosive.
SentinelOne (S) Q2 2026: Flex Model Fuels 40% Net New ARR Upside as AI Platform Expands
SentinelOne demonstrates a long reinvestment runway, a disruptive and self-reinforcing business model, improving unit economics, and strong customer value expansion. The 40% net new ARR beat, platform adoption, and margin leverage are all high-signal. However, while growth is strong, forward guidance is for 22% YoY revenue growth, which tempers the score for questions 6 and 9. The business is clearly growth-oriented but not at the very highest acceleration tier.
HUT 8 (HUT) Q3 2025: Compute Revenue Soars 411% as Platform Model Unlocks Expansion
HUT 8 demonstrates a long reinvestment runway, a disruptive and self-reinforcing business model, and strong improvements in unit economics and customer value. There is a significant expansion pipeline and clear margin/scale inflection, but the future growth outlook, while strong, is not yet exceptional (guidance not updated, execution risk noted). Revenue growth is high but not at the most extreme levels. Overall, the signal is very strong, but not at the absolute maximum due to execution watchpoints and the need to prove out contracted revenue conversion.
Real Brokerage (REAX) Q1 2025: Agent Count Surges 61% as Ancillary Margin Strategy Accelerates
Real Brokerage demonstrates a long reinvestment runway, disruptive model, improving unit economics, and clear growth orientation. Ancillary and AI businesses are scaling, but their contribution to overall margin is still early and not yet exceptional. Revenue growth is strong but not consistently above 40% annually, and future guidance is positive but not extraordinary. The business is not yet a household name, which limits the score slightly.
Snowflake (SNOW) Q2 2026: Azure Growth Hits 40%, AI Adoption Drives Customer Expansion
Snowflake demonstrates a long reinvestment runway, improving unit economics, compounding business model, and disruptive platform expansion. The Azure partnership and AI adoption are driving significant business evolution, but while growth is strong, it is not yet at a hypergrowth (40%+) level. The business is clearly a growth business with accelerating cash flow and a self-reinforcing model.
Genius Sports (GENI) Q3 2025: Media Revenue Soars 89% as BetVision Distribution Scales
GENI demonstrates a long reinvestment runway, recent breakout developments (media revenue up 89%, BetVision scaling), improving unit economics, and a self-reinforcing business model. Customer value is deepening, but future growth, while strong, is not yet exceptional (guidance at 28-30% growth, not >40%). The model is disruptive with a strong cash flow outlook, but revenue/eps growth is in the 20-40% range, not >40%. GENI is a clear growth business, but not at the highest possible acceleration.
Solaris (SEI) Q1 2025: Power JV Upsized to 900 MW, Extending Earnings Visibility to 2033
Solaris demonstrates a long reinvestment runway, disruptive model, improving unit economics, and self-reinforcing business model. The recent JV upsize and contract extension are significant, but growth outlook is strong (not yet exceptional at >30% acceleration). Revenue and EPS growth is likely in the 20-40% range, not >40%. The business is transitioning to a high-quality, growth infrastructure platform with strong cash flow trajectory and defensible moat.
Cellebrite (CLBT) Q1 2025: Guardian ARR Surges 100%+ as Cloud and Defense Tailwinds Offset Federal Lull
Cellebrite demonstrates a long reinvestment runway, compounding business model, and disruptive cloud/AI transition. Guardian ARR growth over 100% and intelligence/defense tailwinds are significant. However, near-term revenue growth is not above 40%, and while guidance is strong, it is not exceptional enough for a perfect score. The business is still transitioning segments (federal/EMEA headwinds), but overall signal is very high.
SoFi (SOFI) Q1 2025: Fee-Based Revenue Hits 41%, Accelerating Capital-Light Model Shift
SoFi exhibits strong signal: a long reinvestment runway, high growth in fee-based revenue, improving unit economics, and a disruptive, platform-based business model. The business is scaling rapidly with high retention and cross-buy, and cash flow is accelerating. While revenue growth is strong, it is not consistently above 40%, and forward guidance, though raised, is not exceptional (>30% acceleration), so scores are slightly capped. The company is clearly a growth business and not legacy or stalling.
RLX (RLX) Q2 2025: International Revenue Jumps 40% as Europe Acquisition Reshapes Portfolio
RLX demonstrates a long reinvestment runway with a disruptive, compliance-led business model and strong international growth. Revenue mix is shifting rapidly, margins are expanding, and the business is diversifying across multiple categories. Cash flow is robust and accelerating. While growth is strong, it is not yet clearly above 40% on a sustained basis, and guidance signals disciplined rather than explosive expansion for the next quarter, hence the deduction on questions 6 and 9. Overall, the company is positioned as a high-growth, globally scaling operator with clear competitive moats.
CLEAR (YOU) Q2 2025: International Access Adds 38% Member Growth, Expanding TAM Ahead of World Cup
CLEAR demonstrates a long reinvestment runway, disruptive platform expansion, improving unit economics, and deepening customer value. International and enterprise momentum, margin expansion, and automation support a high signal score. The only modest area is that growth acceleration is strong but not quite exceptional (>30%) in all metrics, and revenue/EPS growth is above 20% but not above 40%. Overall, the business is highly interesting and thesis-relevant, but not quite a 'giant' in growth rates yet.
ORMAT Technologies (ORA) Q3 2025: Energy Storage Revenue Doubles, Backlog Climbs 79% as EGS Pilots Advance
ORMAT demonstrates a long reinvestment runway (storage, EGS), recent significant growth in key segments (storage revenue up 108%, backlog up 79%), improving unit economics, self-reinforcing business model (backlog, partnerships), and deepening customer value (hyperscaler PPAs). Guidance is up, but not yet in the exceptional (30%+) range. The business model is disruptive with strong cash flow growth and is in a growth phase, though top-line growth is not >40% annually. The signal is very high for a mid-cap utility/renewable, but not at the absolute highest level of disruption or acceleration.
SoFi (SOFI) Q2 2025: Non-Lending Revenue Jumps 74% as Platform Diversification Accelerates
SoFi demonstrates a long reinvestment runway, clear business model evolution toward higher returns, and rapidly growing capital-light segments. Recent growth is strong but not quite at the highest acceleration threshold for all metrics, so some questions are scored conservatively. The business is disruptive, with improving unit economics and expanding customer value, but not all growth rates exceed the highest thresholds. The company is well-positioned as a growth business, but execution risks and the need for sustained innovation temper the signal slightly.
VNET (VNET) Q2 2025: Wholesale IDC Revenue Soars 113% as AI Demand Accelerates Buildout
VNET demonstrates a long reinvestment runway, exceptional recent growth in wholesale IDC, improving unit economics, and a business model that is becoming more self-reinforcing with AI-driven demand. Customer value is increasing, and while guidance remains conservative, growth rates and operational agility indicate high potential. The business is disruptive, with accelerating cash flow and a clear growth trajectory, but annual growth guidance is in the 11–13% range, not above 20%, and management remains cautious, tempering the signal score.
Verona Pharma (VRNA) Q1 2025: O2Ver Sales Double, Refills Hit 60% as Launch Exceeds Expense Run Rate
Verona shows a long reinvestment runway, clear evidence of high growth and improving unit economics, and a self-reinforcing business model with high refill rates and expanding prescriber base. The business is disruptive within specialty pharma, and cash flow is accelerating. However, while growth is strong, it is not yet confirmed as exceptional or above 40% annualized for all metrics, and some future guidance is qualitative rather than quantitative.
MNSO Q2 2025: Overseas Revenue Mix Rises to 38%, Accelerating Global Channel Shift
MNSO demonstrates a long reinvestment runway with high returns, rapid overseas growth, and improving unit economics. The business model is increasingly self-reinforcing via proprietary IP and experiential stores, with customers becoming more valuable over time. While future growth is strong, it is not yet exceptional (over 30% acceleration), and revenue/EPS growth guidance is above 20% but not consistently above 40%. The business is clearly in a high-growth, disruptive phase, with accelerating cash flow and capital returns.
Bowhead Specialty (BOW) Q3 2025: Expense Ratio Falls to 29.5% as Tech-Driven Scaling Unlocks Margin Leverage
Bowhead demonstrates a long reinvestment runway at high returns, significant recent growth (notably in Bailene), improving unit economics and self-reinforcing tech-driven business model. Customer value and business model disruption are evident. Cash flow is accelerating and the business is firmly in growth mode, though overall growth rates in revenue/EPS are strong but not consistently above 40%, and guidance is positive but not exceptional. The signal is very high for a specialty insurance business, but not at the absolute apex for the most explosive growth companies.
Dave (DAVE) Q2 2025: ARPU Jumps 42% as New Fee Model Drives Record Profitability
Dave demonstrates a long reinvestment runway, disruptive business model, and improving unit economics with accelerating ARPU and margin expansion. The move to a capital-light model and AI-driven underwriting are strong signals. However, while growth is strong, forward guidance and backlog do not indicate 40%+ acceleration, limiting the score slightly. The business is growth-oriented and self-reinforcing, but not at the absolute highest tier of signal.
Opera (OPRA) Q2 2025: E-Commerce Advertising Jumps 100%, AI and Fintech Scale New Growth Engines
Opera demonstrates a long reinvestment runway with high returns, disruptive business model, and rapidly scaling new verticals (e-commerce ads, MiniPay). There is clear evidence of improving unit economics, self-reinforcing business model dynamics, and deepening customer value. Growth is strong but not consistently above 40% for all metrics, and guidance is robust but not truly exceptional (hence, 1 for those questions). The business is firmly in the growth category, with accelerating cash flow and strategic pivots that set it apart from legacy models.
Agilysys (AGYS) Q1 2026: Subscription Revenue Surges 44%, Cloud Transition Drives Backlog Expansion
Agilysys demonstrates a long reinvestment runway, disruptive SaaS/cloud transition, and strong, accelerating subscription growth (44% YoY), with record backlog and improving unit economics. The business model is self-reinforcing through cross-sell and ecosystem effects, and customer value is deepening. While cash flow is not yet accelerating (due to timing), and annualized growth is under 40%, the overall signal is high for a mid-cap SaaS transition with clear upside.
Calix (CALX) Q2 2025: RPO Surges 30% as Third-Gen Platform Sets Stage for AI-Driven Expansion
Calix demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong customer value expansion. The 30% RPO growth and platform transition are material signals. While guidance is solid, growth acceleration is not above 30% for the next quarter, so not all signal questions score the maximum. Still, the business is clearly in a high-growth, transformation phase with significant upside.
Amphenol (APH) Q2 2025: IT Datacom Sales Jump 133%, Margin Target Rises Toward 30%
Amphenol demonstrates a long reinvestment runway, exceptional recent growth due to AI, improving unit economics, and a self-reinforcing business model. Customer value is deepening, though future growth is strong but not yet at a new exceptional acceleration. The business model is disruptive with lateral opportunities, and cash flow is accelerating. Revenue and EPS growth is strong but not consistently above 40%. The company is clearly a growth business, but as a large, well-followed industry leader, the signal is slightly muted compared to a lesser-known disruptor.
BitFufu (FUFU) Q2 2025: Cloud Mining Revenue Jumps 76% as Capacity Hits 36.2 EH/s
BitFufu demonstrates a long reinvestment runway, clear unit economic improvement, and a disruptive, self-reinforcing business model. The business is transitioning into a platform with vertical integration and new revenue streams (RWA tokenization), and cash flow is accelerating. Growth rates are strong but not consistently above 40%, and while guidance is positive, it is not yet exceptional. The business is clearly in growth mode and presents significant upside, though not at the absolute highest signal tier due to some execution and regulatory uncertainties.
Arm (ARM) Q1 2026: Neoverse Share Jumps from 18% to 50%, Unlocking AI Data Center Upside
Arm demonstrates a long reinvestment runway, disruptive business model, and clear inflection in data center share, with improving unit economics and royalty rates. Backlog/ACV growth is strong but not yet at the highest level for future guidance revision. Revenue growth is robust but not consistently above 40%. The business is clearly growth-oriented and self-reinforcing, with significant investor relevance.
Goosehead Insurance (GSHD) Q2 2025: Enterprise Sales Up 88%, Unlocking New Growth Channels
Goosehead is demonstrating a long reinvestment runway, rapid channel expansion, improving unit economics, and a disruptive, tech-enabled model. Enterprise Sales is growing at an exceptional rate (88% YoY), and franchise consolidation is deepening productivity. AI is driving cost leverage. However, while guidance and backlog are strong, growth is not yet at the 40%+ level for the entire business, and some upside is not yet in guidance. The business is clearly in a growth phase, but not all metrics are at the extreme end of the scale.
Mobileye (MBLY) Q2 2025: Operating Income Jumps 34% as IQ6 Lite Drives Global ADAS Expansion
Mobileye demonstrates a long reinvestment runway, disruptive model, and strong operating leverage with clear drivers for future growth. The recurring revenue model and capital-light scaling are highly attractive. However, growth outlook for the next 12 months is solid but not yet at hypergrowth levels, and some future inflection is still dependent on 2027 launches, tempering the near-term signal slightly.
Sensient Technologies (SXT) Q2 2025: Natural Color CapEx Raised to $100M as Regulatory Clock Ticks
Sensient is positioned for a generational demand shift with a long reinvestment runway, disruptive business model, and improving unit economics. CapEx and margin expansion signal confidence, but the growth inflection is still 18-24 months away, so some metrics are not yet exceptional. The piece surfaces high signal, but the business is not yet in hypergrowth.
Yuanbao (YB) Q2 2025: Net Margin Jumps to 28.5% as AI Drives Efficiency Gains
Yuanbao demonstrates a long reinvestment runway with high returns, clear disruptive elements, and accelerating profitability driven by AI. Revenue and EPS growth is strong but not consistently above 40%. Unit economics are improving, and the business is transitioning to international growth. The only deduction is for the future growth outlook, which is strong but not at an exceptional acceleration (guidance is 20–30% growth, not 40%+).
DLocal (DLO) Q1 2025: TPV Soars 53%, Automation and AI Fuel Margin Leverage
DLocal demonstrates a long reinvestment runway with high returns, disruptive business model, and clear operational leverage from automation and AI. Growth is strong (53% TPV YoY), unit economics are improving, the business model is self-reinforcing, and customer value is increasing. While forward guidance is strong, it is not accelerating above 30%, thus not full marks in Q6 and Q9. Still, the business is clearly in a high-growth, compounding phase with exceptional defensibility and optionality.
Celestica (CLS) Q2 2025: 800G Networking Ramps 82%, Driving 20% Annual Outlook Raise
Celestica demonstrates a long reinvestment runway, a significant recent uptick in growth (800G networking up 82%, revenue and EPS guidance raised 20%+), and improving unit economics. The business model is self-reinforcing with major hyperscaler wins and services expansion, while customer value is deepening. The company is a growth business with accelerating cash flow. While not a pure disruptor, there are semi-disruptive elements in their service and integration strategy. Revenue growth is strong but not consistently above 40%, so a conservative approach is warranted.
Nextracker (NXT) Q4 2025: Backlog Surges Past $4.5B as Platform Expansion Accelerates
Nextracker demonstrates a long reinvestment runway, disruptive platform transition, improving unit economics, and a self-reinforcing business model. Backlog growth and platform expansion signal a strong growth trajectory, but near-term margin compression and the guidance for FY26 suggest growth is strong but not yet exceptional (>30%). Revenue growth is over 20% but not above 40%. The business is clearly a growth business with high investor relevance.
GeneDx (WGS) Q2 2025: Exome and Genome Revenue Jumps 69% as Pediatric Expansion Accelerates
GeneDx demonstrates a long reinvestment runway, disruptive business model, compounding data advantage, and accelerating growth/margins. While some guidance is conservative, and revenue growth is not yet above 40% for the full year, the business is transitioning from niche to category leader with expanding optionality and cash flow. The signal is strong, though not quite at the absolute highest tier due to some runway and execution risks.
Unicure (QURE) Q2 2025: $377M Cash Extends Runway as AMT-130 Nears September Data Catalyst
Unicure is positioned at a major inflection with a potentially disruptive gene therapy for a high-unmet-need disease, strong cash runway, regulatory alignment, and pipeline breadth. The business model is self-reinforcing, early pipeline signals are promising, and growth potential is high, but commercial cash flow is not yet accelerating and forward revenue growth is not yet >40%.
MARA Q2 2025: Bitcoin Holdings Jump 170% as Asset Management and Global Compute Strategy Scale
MARA demonstrates a long reinvestment runway, disruptive business model, and improving unit economics, with evidence of strong growth and strategic evolution. While growth is robust, not all signals reach the highest acceleration threshold (e.g., guidance is strong but not >30% acceleration), but the business is clearly transitioning to a defensible, high-ROIC platform. The article provides high signal for investors seeking strategic inflection.
NYAX (NYAX) Q2 2025: Recurring Revenue Jumps to 74% as Embedded Payments Scale
NYAX demonstrates a long reinvestment runway with high returns on capital, strong recurring revenue growth, and improving margins. The embedded payments and OEM strategy are self-reinforcing, with customer value and retention increasing. The future outlook is robust but not yet at an exceptional acceleration level (guidance is for 30-35% growth, not 40%+), and while disruptive, the business is not entirely unique in the payments space. Still, the signal is very high for investors seeking high-growth, platform-driven opportunities.
Ambarella (AMBA) Q2 2026: IoT Powers 50% Revenue Surge, Edge AI Breadth Drives Guidance Hike
Ambarella shows a long reinvestment runway with high returns, strong recent growth, improving unit economics, and a disruptive, self-reinforcing business model. Customers are becoming more valuable, and the business is transitioning into a high-growth phase with accelerating cash flow. The only deduction is for future growth guidance, which, while positive, isn't yet at an exceptional acceleration level, and current revenue/EPS growth is guided at just above 30% rather than 40%+.
ATEX Q1 2026: Accelerator Program Demand Surpasses $500M, Underscoring Private LTE Utility Shift
Enterix demonstrates a long reinvestment runway, disruptive model, improving unit economics, and self-reinforcing business dynamics. The business is not yet showing >40% growth, and while future guidance is positive, it's not at the 'exceptional' level required for full marks. The signal is high due to the oversubscribed accelerator program and clear capital-light expansion, but some uncertainty remains around contract conversion timing.
MARA Q3 2025: Bitcoin Holdings Surge 98% as Energy Integration Accelerates AI Pivot
MARA is executing a high-signal business model transition: energy integration, modular data centers, and AI compute offer a long reinvestment runway and disruptive potential. Unit economics are improving, and the business model is increasingly self-reinforcing. Risks remain (execution, regulation), and while growth is strong, guidance does not confirm >40% forward acceleration, so some signal is withheld.
Nextracker (NXT) Q1 2026: Backlog Hits $4.75B as Robotics and AI Bolster Platform Expansion
Nextracker demonstrates a long reinvestment runway, robust backlog growth, improving unit economics, and an increasingly self-reinforcing business model with platform expansion into robotics and AI. However, while growth is strong, it is not at an exceptional (40%+) level, and some uncertainty exists around regulatory risk and the pace of recurring revenue ramp.
FTAI (FTAI) Q2 2025: Aerospace Products EBITDA Jumps 81% as Market Share Doubles
FTAI displays a long reinvestment runway, disruptive asset-light model, rising margins, and deepening customer value. Recent growth is substantial but not quite at the most extreme levels for all metrics. The business is clearly in a high-growth, compounding phase with strong signals for further upside, though guidance revision is not exceptional enough for a top score.
Fiverr (FVRR) Q2 2025: Services Revenue Jumps 84% as AI Tailwinds Broaden Buyer Mix
Fiverr demonstrates a long reinvestment runway with high returns, a disruptive business model, and clear compounding effects (AI, upmarket migration). Services revenue growth is exceptional (84%), and the mix shift is driving improved unit economics and customer value. The business is transitioning to recurring revenue and margin expansion, though overall top-line guidance is more moderate (not >20% annual growth), so a couple points are deducted. Still, the signal is very high for a platform at a strategic inflection.
TTI Q2 2025: Free Cash Flow Surges to $37M as Deepwater and Desalination Scale
TTI demonstrates a long reinvestment runway with high returns, significant new developments in battery electrolytes and desalination, and improving unit economics. The business model is self-reinforcing, customers are becoming more valuable, and future growth is strong though not yet exceptional (guidance is steady, not sharply revised up). The model is disruptive, cash flow is accelerating, and the business is in a growth phase. Revenue and EPS growth are strong but not consistently above 40%.
Intapp (INTA) Q4 2025: Cloud ARR Jumps 29% as AI and Enterprise Push Drive Expansion
Intapp demonstrates a long reinvestment runway, rapidly growing cloud ARR, improving unit economics, deepening enterprise traction, and high-value customer expansion. The business model is self-reinforcing with strong ecosystem effects and AI-driven differentiation. While growth is strong and accelerating in key areas, the overall revenue/EPS guide suggests high but not hyper-growth, and guidance revision is solid but not exceptional. The business is clearly in growth mode with disruptive elements.
CrowdStrike (CRWD) Q1 2026: Falcon Flex Accelerates Platform Adoption, AI and Next-Gen SIM Drive Growth
CrowdStrike demonstrates strong platform economics, rapid module adoption, and a disruptive, AI-driven business model with deepening customer value and expanding TAM. The business is clearly in a high-growth phase with robust cash flow and margin expansion. While growth is strong, it is not accelerating above 30%+, so a perfect signal score is not warranted. However, the company’s fundamentals and strategic positioning remain exceptional.
Marvell Technology (MRVL) Q1 2026: AI-Driven Custom Silicon and Data Center Momentum Set Pace for Record Growth
Marvell demonstrates a long reinvestment runway with high returns on capital, a disruptive business model pivot, and significant AI-driven growth. Unit economics and customer value are improving, with self-reinforcing platform dynamics. However, while growth is strong and accelerating, guidance does not indicate >40% future growth, and some risks around customer concentration and margin pressure temper the absolute signal.
Garden Health (GH) Q2 2025: SHIELD Gross Margin Jumps to 48% as Screening Scale Accelerates
Garden Health demonstrates a long reinvestment runway, disruptive business model, and improving unit economics with accelerating gross margin and revenue growth. SHIELD's margin inflection and oncology momentum support a strong growth thesis. The only deduction is for forward growth not being exceptional (>30% acceleration) and guidance indicating high but not hypergrowth, thus not all 2s. The signal is very high and actionable for investors.
TransMedics (TMDX) Q2 2025: Operating Margin Expands 650bps as OCS Adoption Drives Scale
TransMedics demonstrates a long reinvestment runway with high returns, disruptive scaling, and improving unit economics. The business model is self-reinforcing and customer value is deepening. Guidance is strong, though not yet at an 'exceptional' acceleration. Growth is robust but not consistently above 40%. The company is clearly a growth business with significant optionality, but some elements (like international expansion and clinical trial impact) are prospective rather than fully realized.
EverQuote (EVER) Q3 2025: Carrier Spend Jumps 27% as AI Flywheel Accelerates Growth
EverQuote demonstrates a long reinvestment runway, disruptive AI-driven business model, improving unit economics, and expanding customer value. Recent growth is strong (but not at hypergrowth levels), and guidance/outlook is robust but not at the threshold for a perfect score on all axes. The business is clearly transitioning to a high-quality growth model, but some metrics (e.g., future acceleration/guidance) are not at the exceptional level required for full marks.
ATEC (ATEC) Q2 2025: EBITDA Margin Expands 880bps as Ecosystem Drives Share Gains
ATEC is demonstrating a long reinvestment runway, disruptive business model, improving unit economics, and self-reinforcing ecosystem. Growth is above 20% but not consistently above 40%, and future guidance is strong but not at an exceptional acceleration. The business is transitioning into a profitable, high-growth phase, but is not entirely unique or undiscovered in the market.
Alignment Healthcare (ALHC) Q2 2025: SG&A Ratio Falls Below 9%, Cementing Cost Leadership in Medicare Advantage
ALHC demonstrates a long reinvestment runway, disruptive business model, accelerating cash flow, and self-reinforcing economics. While growth is strong (membership up 28%), forward guidance is robust but not quite at the 'exceptional' threshold for every metric. The company is still maturing, but the signal for durable value creation is very high.
Roblox (RBLX) Q2 2025: Bookings Surge 51% as Viral Hits Expand Creator Economy
Roblox demonstrates a long reinvestment runway, rapid growth, improving unit economics, a self-reinforcing platform, and increasing customer value. The business model is disruptive, with accelerating cash flow and a growth trajectory. However, guidance for future quarters is more conservative, and while growth remains strong, it is not consistently above 40% for all metrics, warranting a slightly lower score on those dimensions.
eToro (ETOR) Q2 2025: Net Contribution Climbs 26% as Tokenized Asset Push and AI Tools Expand Platform Reach
eToro demonstrates a long reinvestment runway with disruptive business model elements (AI and tokenization), improving unit economics, compounding platform advantages, and deepening customer value. Growth is strong but not yet at an exceptional acceleration (over 40%), and guidance signals continued momentum rather than a sudden inflection. The business is clearly transitioning into a global, high-growth platform, but some execution and regulatory risks temper the ultimate signal.
OneStream (OS) Q1 2025: Sensible AI Forecast Bookings Surge 50% as Finance Cloud Adoption Accelerates
OneStream demonstrates a long reinvestment runway (AI, international, platform extensibility), clear evidence of accelerating bookings and product innovation, and self-reinforcing business model traits. Cash flow and margin are improving, and the business is in clear growth mode, though not at hypergrowth rates (>40%). The signal is strong, but not at the very highest level due to some macro caution and guidance not being raised materially.
AMBR Q2 2025: Gross Margin Surges to 71% as Institutional Digital Wealth Model Scales
AMBR presents a high-growth, high-margin, disruptive model with clear evidence of scale, innovation, and client value expansion. The only deductions are for forward guidance (conservative/uncertain) and cash flow not yet fully accelerating, but the signal is very high.
Taysha (TSHA) Q2 2025: $230M Raise Extends Runway, Pivotal Rett Trial Site Activation Signals Regulatory Momentum
Taysha presents a disruptive, high-growth opportunity with a long reinvestment runway, robust clinical and regulatory momentum, and improving unit economics. The business model is self-reinforcing and customer value is deepening. However, while growth is strong, there is not yet clear evidence of >40% revenue/EPS growth, and future guidance is promising but not yet exceptional. The signal is very high but not perfect.
NU Holdings (NU) Q1 2025: Customer Scale Drives Revenue Growth, Margin Investment Signals Long-Term Ambition
NU Holdings demonstrates a long reinvestment runway, disruptive digital banking model, and exceptional customer/revenue growth with improving unit economics and operating leverage. Backlog/guidance is positive but not accelerating at the 30%+ level, and while revenue growth is robust, it is not consistently above 40% annually. The business is clearly a high-growth, self-reinforcing model, but some metrics (like margin compression and monetization lag) temper the signal slightly.
Euronet Worldwide (EEFT) Q2 2025: Money Transfer Operating Income Jumps 33% as Digital Mix Accelerates
Euronet exhibits strong digital transformation, margin expansion, and platform leverage, with multiple disruptive elements (CoreCard, REN, cross-sell). The business has a long runway, improving economics, and a clear shift to higher-value digital streams. While growth is robust, it is not accelerating above 30–40% annually, and some guidance is reaffirmed rather than raised, so scores are capped accordingly. Still, the signal is very high for a payments incumbent.
eCarX (ECX) Q3 2025: Overseas Contracted Revenue Jumps to $2.5B, Accelerating Global Expansion
eCarX is at a key inflection: first net profit, EBITDA breakeven, and a dramatic jump in overseas contracted revenue. The business model is self-reinforcing, with improving unit economics, platform scalability, and expanding customer value. The global pipeline and manufacturing ramp support a long reinvestment runway. While not all growth metrics are above 40%, the business is clearly transitioning to a high-growth, cash-generative model with disruptive potential.
Universal Display (OLED) Q2 2025: Gen 8.6 Fab Expansions Signal 10–15% Capacity Growth Ahead
Universal Display exhibits a long reinvestment runway with high ROIC, major capacity-driven growth, improving unit economics, and a disruptive, self-reinforcing model. Customer value is deepening, and the business is transitioning to higher cash flow. Guidance is positive but not exceptional (>30% acceleration), and revenue growth is likely over 20% but not 40%, justifying a slightly lower score on those dimensions. Overall, the signal is strong and actionable for investors.
Innodata (INOD) Q2 2025: 79% Revenue Surge Unlocks Next-Gen AI Data Opportunity
Innodata demonstrates a long reinvestment runway, disruptive positioning, and strong operational leverage. The company is moving from niche to critical AI infrastructure with accelerating growth and margin expansion. While guidance is raised and pipeline is robust, the signal is capped by customer concentration and the lack of >40% forward growth guidance, keeping the score just below perfect.
Immunovant (IMVT) Q2 2025: $1.5B Buyback Shrinks Share Count 15% Ahead of Brepocitinib Data Catalyst
Immunovant demonstrates a long reinvestment runway, disruptive pipeline, and self-reinforcing model in autoimmune/rare disease. The buyback and cash position amplify upside. While pivotal data is pending (so not yet exceptional growth), the company is positioned for strong growth and optionality. Unit economics, customer value, and cash flow are all improving, but the business is not yet in hypergrowth (>40% YoY), and the future, while promising, is not fully de-risked until data arrives.
Composecure (CMPO) Q3 2025: Gross Margin Jumps 730bps as Husky Deal Sets Up 70% Recurring Revenue Platform
Composecure is transforming into a diversified, recurring revenue platform with a long reinvestment runway and clear margin expansion. The Husky acquisition is a significant platform move, and the business model is self-reinforcing with high recurring revenue. Unit economics and cash flow are improving, and the company is positioned as a growth compounder. However, near-term revenue growth outlook is solid but not hyper-growth (>40%), and guidance is strong but not exceptional/accelerating at that level.
Bloom Energy (BE) Q2 2025: Gross Margin Surges 650bps as AI Data Center Demand Accelerates
Bloom Energy is demonstrating a disruptive, high-growth business model with a long reinvestment runway, improving economics, and clear evidence of secular demand inflection. While growth is strong and accelerating, the guidance and backlog commentary suggest growth is robust but not yet at hypergrowth (over 40%+) levels for the full business, warranting some score moderation. The business is not fully unknown, but the scale and margin inflection are highly relevant.
ACV Auctions (ACVA) Q1 2025: EBITDA Margin Jumps 500bps as AI-Driven Solutions Scale
ACV Auctions demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and high customer value. There is strong margin expansion and evidence of platform compounding, though the growth outlook is very strong but not quite at an exceptional/acceleration level for all metrics. The business is clearly in growth mode, but the guidance and market context temper the very highest possible scores.
Sharplink (SBET) Q2 2025: $87.8M LSE Impairment Underscores Early-Stage ETH Treasury Bet
Sharplink is at an early-stage inflection with a disruptive, high-velocity ETH treasury model and strong capital raising, providing a long reinvestment runway, rapidly scaling assets, and improving economics. The business is not yet a cash flow machine and future guidance is cautious, but the growth trajectory and business model optionality are exceptional.
Crystal Biotech (KRYS) Q2 2025: Vizuvac Revenue Climbs 9% as Global Launches Anchor Multi-Year Growth
Crystal Biotech demonstrates strong signal: a long reinvestment runway, improving unit economics, compounding business model, deepening customer value, and global expansion. The pipeline is validated in multiple indications, and the business is profitable with accelerating cash flow. However, growth rates are solid but not consistently above 40%, and future guidance, while positive, is not yet exceptional. The business model is disruptive and the company is clearly in the growth phase.
MercadoLibre (MELI) Q2 2025: Free Shipping Shift Lifts Brazil Items Sold 34%
MercadoLibre demonstrates a long reinvestment runway with high returns, disruptive business model, improving unit economics, and deepening customer value. The business is scaling fintech and ads, with strong growth and compounding potential. However, not all metrics are exceptional (e.g., guidance revision/growth acceleration is strong but not >30% everywhere), and annualized growth is not >40% across all lines. Still, the signal is very high.
Trade Desk (TTD) Q2 2025: Kokai Drives 20%+ Performance Lift as CTV Share Hits High 40s
TTD demonstrates a long reinvestment runway, disruptive AI-driven model, improving unit economics, customer value deepening, and accelerating CTV/retail media growth. While guidance is strong, growth is not quite exceptional (>30%), so question 6 and 9 are scored more conservatively. The business is clearly a growth leader with self-reinforcing advantages.
Tempest (TEM) Q2 2025: Genomics Revenue Soars 115% as Oncology Volumes Accelerate
Tempest demonstrates a long reinvestment runway with high returns, a disruptive dual-engine business model, and clear operating leverage. Volume and revenue growth are significant, with accelerating margins and strong customer value. Foundation model partnerships and pharma demand reinforce the moat. However, while growth is robust, the future outlook is strong but not at the most exceptional (30%+ acceleration) level, and revenue growth is above 20% but not consistently above 40%.
Audity (ODD) Q2 2025: International Sales Surge 40% as Brand Three Sets Up Healthcare Entry
Audity demonstrates a long reinvestment runway, disruptive business model, and strong international growth (40%+). Repeat revenue and margin discipline support valuation upside. Brand three’s healthcare entry is a significant strategic move. Some uncertainty remains around the magnitude and pace of incremental growth from new brands, but overall signal is very high.
Ascendis Pharma (ASND) Q2 2025: YorbaPath Revenue Doubles, Accelerating Blockbuster Trajectory
Ascendis demonstrates a long reinvestment runway, clear business model advantages, and improving unit economics. YorbaPath's doubling revenue and patient adoption signal high growth, but while guidance is positive, the outlook is not yet at an 'exceptional' acceleration level for every metric. The business is disruptive and transitioning to a cash flow positive profile, but revenue growth, while strong, is not over 40% annually. The company is clearly in a growth phase, not mature or legacy.
Health and Tech (HIT) Q2 2025: Distribution Partners Up 87%, Unlocking Small Business Health Platform Scale
HIT demonstrates a long reinvestment runway, clear network effects, improving unit economics, and a disruptive, platform-centric business model. Growth is rapid (86% YoY), margins are expanding, and customer value is deepening. However, while growth is exceptional, guidance for future acceleration is strong but not at the highest threshold for all categories. The business is not yet at the absolute top tier of growth acceleration and cash flow, but signal is very high.
Beta Bionics (BBNX) Q2 2025: Pharmacy Channel Drives 57% New Patient Growth, Recurring Revenue Mix Rises
Beta Bionics demonstrates a long reinvestment runway, disruptive business model, compounding recurring revenue, and improving unit economics. The pharmacy channel inflection is a significant business evolution, and the innovation pipeline offers further upside. Growth is strong but not quite at the 40%+ threshold for the highest marks in every category. The business is clearly in a high-growth phase, but guidance suggests a moderation in sequential growth, warranting a slightly lower score on future acceleration.
Alignment Healthcare (ALHC) Q3 2025: Membership Jumps 26% as Stars Ratings and Margin Execution Outpace Industry
Alignment Healthcare demonstrates a long reinvestment runway, exceptional growth, and improving unit economics. The business model is self-reinforcing with high Stars ratings and technology leverage. Customer value is increasing, and the business is transitioning to a cash flow machine with accelerating revenue and EPS growth. However, while the business is disruptive and has strong lateral opportunities, it is not a pure-play disruptor at the level of a tech platform, and near-term guidance is strong but not quite at an exceptional acceleration level. Overall, the signal is very high, but not a perfect 20.
ZLAB Q2 2025: Operating Loss Narrows 28% as Pipeline Advancements Drive Profitability Path
ZLAB demonstrates a strong reinvestment runway, disruptive pipeline, and improving unit economics. Recent developments, such as pipeline advancements and margin leverage, support a transition to profitability. Growth is solid but not yet at hypergrowth levels, and some constraints (supply, regulatory timing) temper the signal. The business is clearly a growth story, but not all aspects are exceptional or accelerating at the highest rates.
Cerebel (CBLL) Q3 2025: Active Accounts Jump by 31, Unlocking Deeper Hospital Penetration
Cerebel demonstrates a long reinvestment runway, disruptive business model, and strong account/revenue growth, with improving unit economics and deepening customer value. The business is not yet at exceptional growth rates for all metrics but is clearly in transition to a high-growth, high-margin model with expanding TAM. Cash flow is improving but not yet accelerating, and guidance is positive but not exceptional. The business is not widely known, so signal is high.
Fubo (FUBO) Q3 2025: Hulu Live Deal Adds 4M Subs, Unlocks Scale and Margin Leverage
Fubo's merger with Hulu Live TV creates a large platform with clear scale, margin, and strategic optionality. There is a long reinvestment runway, self-reinforcing model, and improving unit economics. However, while growth is strong, the guidance is not for >40% acceleration, and some cash flow/profitability elements remain in transition. The signal is very high, but not at the absolute maximum due to these caveats.
Insmed (INSM) Q2 2025: $823M Capital Raise Powers Brenzocatib Launch and Pipeline Acceleration
Insmed is at an inflection with a long reinvestment runway, disruptive launches, improving unit economics, and clear growth drivers. However, while growth is strong and accelerating, there is not yet evidence of sustained >40% topline growth or cash flow acceleration, so some scores are capped at 1. The business is transitioning rapidly to a multi-asset model with strong optionality, but not every dimension is fully exceptional yet.
CORT (CORT) Q1 2025: Relacorilant NDA and 100% Rx Surge Signal Expanding Hypercortisolism Market
CORT demonstrates a long reinvestment runway, disruptive model, and clear acceleration in prescriptions and prescriber base. The business model is self-reinforcing, customers are becoming more valuable, and the company is transitioning into a multi-vertical growth platform. While growth is strong, some future catalysts (e.g., Relacorilant approval) are not yet realized, and cash flow acceleration is only moderate at this stage. Revenue and EPS growth are projected to be strong but not consistently over 40%. Overall, the signal is high but not at the absolute maximum due to the forward-looking nature of some catalysts.
Vertiv (VRT) Q3 2025: Backlog Jumps 30%, Locking in Multi-Year Data Center Demand
Vertiv demonstrates a long reinvestment runway, major backlog growth, improving unit economics, and a self-reinforcing business model with growing customer value. The business is not fully disruptive, and while growth is strong, it does not consistently exceed 40% on all metrics. Cash flow is accelerating and the company is clearly a growth business, but the signal is slightly muted by the lack of true disruption and only moderate exceptional guidance.
Carpenter Technology (CRS) Q3 2025: SAO Margins Hit 29.1% as Aerospace Mix Drives Record Profitability
Carpenter Technology is demonstrating long runway via capacity expansion and LTAs, with high ROIC projects and substantial margin expansion. There is clear evidence of business model reinforcement (pricing power, customer alignment), improving unit economics, and cash flow acceleration. However, growth rates, while strong, are not at the highest tier (over 40%+), and the business is not disruptive in a tech sense, but it is showing structural improvement and above-peer growth. Signal is high but not at the absolute maximum due to sector maturity.
Abcide (ABSI) Q2 2025: $64M Capital Raise Extends Runway, Puts ABS-201 on Accelerated Path
Abcide has a long reinvestment runway with high potential ROIC, clear inflection to clinical-stage, and disruptive AI-driven business model. There is a recent surge in capital, pipeline advancement, and partnership potential, but near-term growth rates and cash flow acceleration are still emerging rather than exceptional. The business model is self-reinforcing with platform leverage and expanding customer value. While not yet at massive growth rates, the company is transitioning rapidly and has strong strategic positioning.
GE Vernova (GEV) Q3 2025: Prolec GE Deal Adds $800M EBITDA by 2028, Electrification Backlog Surges
GE Vernova demonstrates a long reinvestment runway, clear margin and backlog expansion, and strong unit economics in electrification and power. The Prolec GE deal is a material inflection, but wind remains a drag, limiting the exceptional future growth signal. The business is transitioning to a higher quality mix, but not all segments are accelerating at the same rate.
Vicor (VICR) Q3 2025: Licensing Run Rate Hits $90M as IP Drives AI Power Leadership
Vicor demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. The licensing run rate surge and Gen 5 VPD launch indicate a major business evolution, but some uncertainty remains around the near-term growth rate and cash flow acceleration. The business is transitioning to growth, but customer concentration and execution risks temper the signal.
Stoke Therapeutics (STOK) Q2 2025: 36-Month Cognition Gains Anchor Zareva-Nursen’s Disease-Modifying Case
Stoke Therapeutics demonstrates a long reinvestment runway, disruptive disease-modifying platform, and strong pipeline expansion. The EMPEROR trial and three-year data are inflection points, with regulatory acceleration possible. While growth is strong, not all metrics are exceptional (e.g., cash flow). Still, the signal is very high for a late-stage, high-impact biotech.
PolyPid (PYPD) Q2 2025: DPLEX-100 Cuts Surgical Infection Rates by 58%, Unlocking U.S. Partner Leverage
PolyPid shows a long reinvestment runway with a disruptive product, clear clinical inflection, and large addressable market. The business model is self-reinforcing and customer value is deepening, but commercial cash flow is not yet accelerating, and guidance is good but not yet exceptional. Growth profile is strong, but revenue/earnings acceleration is pending commercial launch. Overall, signal is very high for a pre-commercial biotech pivoting to market entry.
Rush Street Interactive (RSI) Q2 2025: Latin America MAUs Surge 42%, Fueling Record Profit Flow-Through
RSI demonstrates a long reinvestment runway with high returns, clear recent acceleration in Latin America, strong unit economics, and a self-reinforcing business model. Customer value is deepening, and the business is transitioning into a cash flow machine with strong growth. However, guidance does not indicate truly exceptional acceleration (>30%), and while the model is disruptive in its markets, the overall sector is competitive and not entirely new. Revenue/EPS growth is strong but not consistently above 40%. The overall signal is high, but not at the absolute maximum for a truly explosive, category-defining business.
TechnipFMC (FTI) Q3 2025: Subsea 2.0 Orders Top 50%, Driving Margin Expansion Into 2026
TechnipFMC demonstrates a long reinvestment runway, a disruptive shift in its business model, and clear margin and cash flow expansion. Backlog is robust and quality is improving. However, while growth is strong and guidance is raised, the future outlook is not quite at the 'exceptional' (30%+ acceleration) level for all signal questions. Some elements (e.g., electrification, digital) are emerging but not yet at full-scale disruption.
Nuvation Bio (NUVB) Q2 2025: 70 Iptrosi Patients in 7 Weeks Signals Accelerating Launch Trajectory
Nuvation Bio demonstrates a long reinvestment runway with high returns on capital (ample cash, pipeline, and platform leverage). The Iptrosi launch represents a significant business evolution, with rapid patient uptake and revenue inflection. Unit economics are improving as commercial scale builds. The business model is self-reinforcing with guideline inclusion and payer traction. Customers (oncologists) are becoming more valuable as adoption broadens. While growth is strong, future acceleration is possible but not yet exceptional (guidance maintained, not raised). The business model is disruptive in precision oncology. Cash flow is improving but not yet accelerating. Revenue growth is strong but likely under 40% annually. The company is transitioning rapidly into a growth business.
Pagaya (PGY) Q2 2025: Fee Revenue Climbs 31% as Product-Led Model Drives Margin Expansion
Pagaya demonstrates a long reinvestment runway with high ROIC, clear recent acceleration in growth (fee revenue +31%), and improving unit economics. The business model is self-reinforcing, with increasing partner stickiness and barriers. Customer value is improving, though not consistently deepening yet. Forward guidance is raised, but not at an exceptional (30%+) acceleration. The model is disruptive in fintech, with network effects and lateral opportunities. Cash flow is accelerating, but revenue growth is in the 20-30% range, not 40%+. The business is firmly in the growth category, with no legacy drag. Overall, signal is strong but not at the absolute highest level due to growth not being hyper-scale.
DigitalOcean (DOCN) Q1 2025: $20M Multi-Year AI Deal Signals New Enterprise Scale
DigitalOcean demonstrates a long reinvestment runway with high returns, a disruptive and self-reinforcing business model, and improving unit economics. There is strong evidence of a business inflection with a major AI deal and rapid enterprise growth. However, guidance and growth rates, while strong, are not yet at the highest (exceptional) levels for all signal criteria. Still, the overall signal is high for investors seeking scalable, AI-native cloud infrastructure exposure.
HCI (HCI) Q2 2025: Exeo IPO Path and 65% Equity Surge Signal New Phase for Insurance Tech Platform
HCI demonstrates a long reinvestment runway, disruptive technology leverage, and strong unit economics. While growth is strong, it is not consistently above 40% and guidance is disciplined rather than exceptional. The business is transitioning to a tech-enabled model with significant optionality, but not all signals point to hypergrowth.
ECO (ECO) Q1 2025: Spot Rate Guidance Surges 56% as Fleet Flexibility Unlocks Upside
ECO demonstrates a long reinvestment runway, high returns on capital, and a disruptive, modern fleet model. There is a clear uptick in guidance and spot rates, strong cash flow, and improving unit economics. While growth is significant, full-year acceleration above 40% is not explicitly guided, and some aspects (like backlog) are less exceptional than the best-in-class disruptors. Still, the business is positioned for high growth and optionality, with multiple strategic levers in play.
MACOM (MTSI) Q3 2025: Data Center Revenue Up 48% as Product Diversification Drives Record Backlog
MACOM demonstrates a long reinvestment runway, record backlog, improving unit economics, self-reinforcing model, and growing customer value. While growth and guidance are strong, the business is not entirely disruptive and the guidance revision is good but not exceptional (>30%). The business is high signal but not at the level of a new category-defining company.
Axsome (AXSM) Q2 2025: Avelity Scripts Jump 15% as Coverage Expansion Drives Prescriber Uptake
Axsome exhibits a long reinvestment runway, disruptive business model, improving unit economics, and clear growth orientation. Recent payer wins and coverage expansions are material, but not at the level of a massive inflection (>40% growth) for every metric. Cash flow acceleration is moderate, not yet exceptional. The business is a growth story with some execution risk, but the signal is strong and relevant for investors seeking upside.
EH (EH) Q1 2025: OC Milestone Triggers 900M RMB Full-Year Revenue Confidence
EH is at a regulatory and commercial inflection with a potentially long runway and high returns on capital if execution follows. The OC milestone and production ramp suggest strong optionality and disruptive potential, but actual growth and cash flow acceleration are not yet proven—guidance is strong but not yet exceptional. Unit economics and margins are improving, and the business model is self-reinforcing with cost and regulatory moats. Customer value is rising, and the business is positioned as a growth company, but some signal points are held back due to the need for execution proof and the absence of clear 40%+ growth in the near term.
Enlight (ENLT) Q1 2025: $1.5B Project Financing Secured Amid Tariff Volatility, U.S. Pipeline Accelerates
Enlight demonstrates a long reinvestment runway, strong project pipeline, and improving unit economics. Asset recycling and supply chain flexibility support a self-reinforcing business model, and customer value is increasing via contracted revenue and new verticals. Growth is robust but not yet at the most exceptional level (i.e., not >30% acceleration). The business is semi-disruptive with lateral growth into storage and data centers. Cash flow is accelerating, and the company is firmly in the growth category, but not all metrics are at the highest possible signal tier.
EOS Energy (EOSE) Q1 2025: Gross Margin Improves 93 Points as Automation Drives Scale
EOS is at a key inflection, with a long reinvestment runway, automation-driven margin expansion, and a disruptive model in a high-growth segment (energy storage for data centers/utilities). The business is not yet showing exceptional (30%+) growth in guidance, and cash flow is improving but not yet accelerating, so points are deducted. However, the company is transitioning to scale with clear compounding levers and significant optionality.
Block (SQ) Q2 2025: Borrow Origination Hits $18B as Product Velocity Accelerates Ecosystem Growth
Block demonstrates a long reinvestment runway, improving unit economics, and self-reinforcing business model with deepening customer engagement. Lending and BNPL are growing at high rates, and margin expansion is strong. However, growth rates, while robust, are not at the 'exceptional' >40% level across the board, and the business model, though innovative, is not entirely disruptive versus peers. The signal is very high, but not perfect due to Block's scale and maturity.
Elbit Systems (ESLT) Q1 2025: Backlog Jumps $2.7B as Land and Laser Demand Ignite Defense Cycle
Elbit Systems demonstrates a long reinvestment runway, record backlog growth, improving unit economics, and a self-reinforcing business model with high-value customers. However, while growth is very strong, guidance is for continued double-digit (not >40%) growth, and the business is not fully disruptive. The cash flow inflection and backlog visibility are strong signals, but the business is somewhat known and already well-followed, limiting the upside surprise.
PODD Q2 2025: International Omnipod 5 Adoption Hits 50%, Driving Durable Margin Expansion
Insulet demonstrates a long reinvestment runway, disruptive model, improving unit economics, and strong self-reinforcing dynamics. Customer value is increasing, and the business is growing rapidly, though not at the most exceptional (40%+) rates. Some signal is tempered by the business being well-followed and already recognized as a leader, with growth rates at the lower end of the top decile. The innovation pipeline and international expansion add to the upside, but the core business is not in a sudden inflection.
NVT Q3 2025: Data Center Orders Surge 65%, Doubling Liquid Cooling Capacity for AI Build-Out
Invent demonstrates a long reinvestment runway with high organic and total growth, clear inflection in data center demand, and improving unit economics. The business model is becoming more self-reinforcing with portfolio transformation and accretive M&A, and customer value is increasing via broader product adoption. While future guidance is strong, it is not at an exceptional acceleration level (>30%), and the business, though semi-disruptive, is not wholly disruptive. Cash flow is accelerating, but revenue growth, while robust, is not above 40%. The company is clearly in a growth phase, but some areas (guidance, disruption) are not at the highest threshold.
Kingsoft Cloud (KC) Q1 2025: AI Revenue Soars 200% as Xiaomi Ecosystem Drives 50% Upside
Kingsoft Cloud is undergoing a major shift to AI-driven revenue, with a long reinvestment runway, rapidly rising AI mix, and strong ecosystem leverage. There is clear evidence of disruptive business model evolution and improving unit economics, but some caution remains around margin volatility, cash flow, and customer concentration. Growth is strong but not yet at the highest acceleration, and cash flow is improving but not yet a machine. Signal is high, but not at the absolute maximum due to these moderating factors.
Veeva (VEEV) Q1 2026: CrossX Usage Revenue Surges Over 30%, Fueling Commercial Acceleration
Veeva demonstrates a long reinvestment runway, with CrossX and Vault CRM showing strong growth and compounding business model effects. There is a disruptive element with AI and horizontal CRM, but some execution and cash flow ramp risk remains. Growth is strong but not yet at the highest acceleration tier, and guidance is robust but not exceptional. The business is a clear growth story with high investor relevance.
EVgo (EVGO) Q1 2025: Throughput per Stall Jumps 36%, Underscoring Supply-Demand Imbalance Tailwind
EVgo demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and self-reinforcing network effects. Throughput and utilization are accelerating, and funding visibility is strong. However, while growth is robust, it is not yet at the most extreme (40%+) level for all metrics, and cash flow is not yet accelerating, warranting slightly conservative scoring.
Surf Air Mobility (SRFM) Q2 2025: Completion Factor Hits 95%, Unlocking Operational and Software Leverage
Surf Air is at a major inflection: operational turnaround, software leverage, and electrification create a long runway. The business is transitioning to a platform model with high optionality and improving economics. While growth is strong and the business model is disruptive, the near-term growth rates are not yet above 40% and cash flow is not yet accelerating, so a few points are deducted for conservatism. Still, the company’s evolution and strategic positioning are highly investable.
GAMB Q1 2025: Recurring Revenue Surges to 50%, Reinforcing Subscription-Led Margin Expansion
The business demonstrates a strong recurring revenue pivot, improving margins, and operational leverage, with a clear runway for reinvestment and evidence of disruptive data service growth. However, while growth is robust, it is not consistently at the highest acceleration thresholds, and some optionality (e.g., US regulatory upside) remains unproven. Overall, the signal is high but not at the absolute maximum due to these caveats.
Alarm Technologies (ALAR) Q2 2025: $3M AI Project Drives 78% Revenue Upside, Margin Compression Signals Infrastructure Pivot
Alarm is undergoing a significant transformation with a long reinvestment runway, disruptive model, and clear customer value expansion. While revenue growth is projected to be very strong and the business is transitioning to a higher-growth profile, near-term cash flow and margin expansion are not yet fully realized, and the future, while promising, remains volatile.
Pharming (PHAR) Q2 2025: Ruconest Drives 28% Growth as APDS Pipeline Expands
Pharming demonstrates strong reinvestment runway, double-digit growth, improving unit economics, and a self-reinforcing rare disease platform. However, the business is not yet showing >40% growth or clear disruptive dominance, and while future prospects are strong, some elements (like VUS reclassification pace) introduce uncertainty, capping the signal score below the maximum.
C3.ai (AI) Q4 2025: Partner-Driven Bookings Jump 419% as Ecosystem Model Scales
C3.ai demonstrates a long reinvestment runway, disruptive business model, and strong growth in partner-driven bookings, non-oil/gas verticals, and agentic AI. However, while the business is high-growth, guidance and cash flow outlooks suggest some moderation and risk, and future growth is not yet at an exceptional/accelerating level. Still, the company is clearly a growth business with self-reinforcing model dynamics and improving unit economics.
TSMC (TSM) Q3 2025: Advanced Nodes Reach 74% of Revenue, Tight AI Capacity Drives Strategic Expansion
TSMC is a well-known leader with a long reinvestment runway, strong advanced node growth, and improving economics. However, while growth is robust and the business model is self-reinforcing, the company is not in the hypergrowth/exceptional phase (most recent guidance is high but not >40%+), and its business is already widely followed. The signal is very strong, but not at the absolute highest level for upside surprise.
First Solar (FSLR) Q2 2025: U.S. Module Mix Lifts Gross Margin to 46% Amid Policy-Driven Booking Surge
First Solar demonstrates a long reinvestment runway, self-reinforcing business model, improving unit economics, and deepening customer value. The business is not accelerating at a 40%+ growth pace but is showing strong growth and margin expansion, with significant policy-driven optionality. While not an unknown or undiscovered story, the company is positioned for continued compounding, but some upside is already well understood by the market.
Karo (KARO) Q2 2026: ARR Climbs 20% as Southeast Asia Headcount Expands 70%
Karo demonstrates a long reinvestment runway with high ROIC, strong recent growth (ARR +20%, headcount +70% in SE Asia), and improving unit economics (LTV/CAC >9x, 95% retention). The SaaS model is self-reinforcing and customer value is deepening. However, while growth is strong, it is not consistently exceptional (not >30-40%), and the business model, while solid, is not highly disruptive. Cash flow is accelerating and the business is clearly in growth mode, but forward guidance is for high teens to low 20% growth, not hypergrowth. Overall, the signal is strong but not at the highest possible level due to the absence of truly exceptional or disruptive inflections.
New Health (NEUE) Q2 2025: Consumer Base Surges 45%, Anchoring Value-Based Care Scale
New Health demonstrates a long reinvestment runway, disruptive value-based care model, and strong customer growth, with improving unit economics and self-reinforcing platform dynamics. However, revenue growth is not above 20% due to segment mix, and cash flow is only moderately accelerating. The business is growth-oriented but not in hypergrowth territory, and future guidance is solid but not exceptional.
YALA (YALA) Q1 2025: Net Margin Climbs to 43%, AI-Driven User Growth Surges
YALA demonstrates a long reinvestment runway with high ROIC, significant AI-driven growth, and improving unit economics. The business model is self-reinforcing with deepening network effects and customer value. While growth is strong, it is not consistently above 40% and guidance is not exceptional enough for a perfect score. The company is not a legacy business, but the disruptive potential is somewhat constrained by regional and product focus. Overall, signal is very high but not maximal due to the absence of true hypergrowth or global scale.
Compass Pathways (CMPS) Q2 2025: Phase 3 TRD Data Surpasses 3.6-Point Clinical Threshold, Accelerating Regulatory Path
Compass Pathways demonstrates a disruptive model with strong clinical validation, a long reinvestment runway, and clear regulatory/commercial inflection. While growth is likely to accelerate, the company is not yet showing >40% revenue/earnings growth, and cash flow is not yet accelerating—hence slightly lower scores on those dimensions.
Gevo (GEVO) Q1 2025: 45Z Tax Credit Monetization Set to Unlock EBITDA Growth
Gevo demonstrates a long reinvestment runway through modular, copy-paste ATJ plant expansion and global licensing, with high returns on capital suggested by carbon monetization. There is a significant inflection with 45Z tax credit monetization and carbon sales, but not yet a massive growth surge. Unit economics are improving with scale, especially as carbon credits stack. The business model is self-reinforcing via vertical integration, carbon well, and data transparency. Customers (corporate buyers) are becoming more valuable through premium carbon credits. Guidance is for positive EBITDA, but not yet for exceptional >30% acceleration. The model is disruptive, leveraging regulatory and voluntary carbon markets. Cash flow is improving, but not yet rapidly accelerating. Revenue/EPS growth is likely in the 20-40% range, not >40%. This is a transition to growth business, with strong but not explosive signal.
Veracyte (VCYT) Q3 2025: Decipher Volumes Up 26% as Margin Surges 650bps, Fueling Pipeline Acceleration
Veracyte demonstrates a long reinvestment runway, clear margin and volume growth, and self-reinforcing business model elements. Unit economics and customer value are improving, and the business is transitioning to a cash flow engine. However, growth outlook for revenue/EPS is strong but not at the very top tier (>40%), and the disruption level is high but not absolute. The business is compelling and growth-oriented, but not at the most exceptional end of the spectrum.
Net Power (NPWR) Q2 2025: Project Permian LCOE Falls Below $100, Unlocking Sequencing Upside
Net Power demonstrates a disruptive business model with a long reinvestment runway and improving unit economics. The LCOE step-change and sequencing model unlock significant optionality, and customer value is deepening. However, while guidance is positive and growth potential exists, there is not yet clear evidence of >30% growth acceleration or cash flow inflection, so scores are conservative in those areas. Overall, the signal is high due to the inflection point and business model evolution.
Unity (U) Q2 2025: Vector-Powered Unity Ad Network Surges 15%, Unlocking AI-Driven Growth Trajectory
Unity demonstrates a long runway with high returns, a disruptive model, and accelerating ad network growth driven by AI. While growth is strong and margins are expanding, the full impact of AI is still emerging, and the business, while showing clear improvement, is not yet at a hypergrowth (>40%) inflection. The signal is very high, but not perfect due to the early stage of some initiatives and moderate guidance for certain segments.
VCIG Q2 2025: Technology Revenue Jumps 447%, Marking Structural Shift Toward AI and GPU Services
VCIG is experiencing a major inflection, with technology revenue up 447% and a clear pivot to scalable, high-margin digital services. The business model is becoming more self-reinforcing, but network effects and customer value deepening are still emerging. Growth is exceptional, and the model is disruptive with strong runway, but some elements (cash flow acceleration, customer value) are not yet at full potential.
Halozyme (HALO) Q1 2025: Royalty Revenue Jumps 39% as Eleven Growth Catalysts Activate
Halozyme demonstrates a long reinvestment runway, clear business model leverage, and expanding catalysts, with improving economics and compounding royalty streams. The business is not disruptive in the classic sense but has semi-disruptive elements via platform innovation. While growth is strong, it does not quite reach the exceptional/accelerating threshold for every metric, and some future growth is implied rather than proven.
Intellia (NTLA) Q2 2025: Magnitude Trial Expands 57% to 1,200 Patients, Sharpening Competitive Edge
Intellia demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong customer demand. The trial expansion and rapid enrollment are significant, but while growth is strong, forward guidance does not yet confirm >30% acceleration for the exceptional score on Q6. Cash flow is improving but not yet accelerating at the highest level. Revenue/EPS growth is likely above 20% but not clearly above 40%. Overall, the business is in a high-growth, strategically advantaged position, but not at the very top end of signal.
ARGX Q2 2025: Pre-Filled Syringe Drives 19% Sequential Growth, Expanding Patient Reach
ARGX demonstrates a long reinvestment runway, clear market expansion, and improving unit economics with the PFS launch. The business model is increasingly self-reinforcing, and customer value is deepening. While growth is strong, guidance implies continued double-digit rather than exceptional acceleration, and the business, while innovative, operates in a competitive space with some payer risk. The signal is high but not at the absolute top due to these moderating factors.
PHR Q2 2026: $6B Payments TAM Expansion Anchored by AccessOne Acquisition
Freesia demonstrates a long reinvestment runway, a step-change in TAM, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and the business is transitioning to a cash flow generator. However, while growth is strong, guidance does not indicate >40% growth, and some uncertainty remains around the full realization of TAM and execution risks post-acquisition. The business is disruptive but not at the highest level of signal for runaway growth.
AVDL Q2 2025: LUMRYZ Patient Base Jumps 63% as Commercial Investments Drive Durable Uptake
AVDL demonstrates a long reinvestment runway with high returns, a major growth inflection, and improving unit economics. The business model is self-reinforcing, and customer value is deepening. While guidance is raised and profitability is achieved, growth rates are strong but not at the highest tier, and the business model is semi-disruptive rather than truly disruptive. Pipeline and legal optionality add to the upside, but some uncertainty remains around the exceptionalism of future growth.
HUT 8 (HUT) Q1 2025: 79% Hash Rate Surge Reshapes Platform, Anchors Power-First Shift
HUT 8 is transitioning to a capital-efficient, infrastructure-led platform with clear reinvestment runway and disruptive potential. The 79% hash rate increase and 37% efficiency gain are significant, and the business model is evolving toward recurring, higher-margin revenue. While immediate growth is not yet exceptional (guidance is for improvement, not acceleration), the company demonstrates improving unit economics, self-reinforcing commercial frameworks, and a long runway in a sector undergoing structural change. Execution risk and the need to prove out customer conversion temper the signal score slightly.
Micron (MU) Q3 2025: HBM Revenue Run Rate Tops $6B as AI Memory Demand Accelerates
Micron demonstrates a long reinvestment runway with high ROIC opportunities in AI memory, significant recent growth in HBM and data center revenue, improving unit economics, and self-reinforcing business model elements. Customer value is deepening, and the business is transitioning into a high-growth phase, but not all signals point to exceptional/accelerating growth (e.g., guidance is strong but not >30% acceleration). The business is semi-disruptive, with some legacy exposure. Cash flow is accelerating, but annual growth is in the 20-40% range, not >40%. The company is clearly in growth mode, but not at the most extreme end of the rubric.
Tiendas 3B (TBBB) Q4 2024: Private Label Penetration Hits 54%, Driving Margin and Store Expansion
Tiendas 3B demonstrates a long reinvestment runway with high returns, rapid growth in private label penetration, and strong unit economics. The business model is self-reinforcing with increasing customer value. While growth is strong (over 30%), it is not at an exceptional acceleration level, and the business is not fundamentally disruptive but rather a proven hard discount model. Cash flow is robust and accelerating. Revenue growth guidance is high but not consistently over 40%. The company is a clear growth business with strong signal, but not at the level of a new, highly disruptive or hypergrowth company.
SRBK Q2 2025: Buyback Program Expands 300% as Fintech Momentum Drives Fee Growth
SRBK demonstrates a long reinvestment runway with fintech partnerships, robust recent growth, improving unit economics, and a self-reinforcing business model. Customers are becoming more valuable, and the business is disruptive with a strong growth profile. However, some caution is warranted on the pace of future growth and cash flow acceleration, and guidance is ambitious but not yet exceptional. The business is not completely unknown, but the inflection and capital allocation pivot provide substantial signal.
AMD (AMD) Q1 2025: AI and Data Center Outperformance Drives 36% Revenue Growth Despite China GPU Headwinds
AMD demonstrates a long reinvestment runway, clear business model advantages, and strong growth in AI/data center. There is evidence of improving unit economics and customer value, and the business is transitioning to a cash flow machine. However, growth rates are not consistently above 40%, and while the model is disruptive, it is not an entirely new category. The China export controls are a material headwind, tempering the exceptionalism of the future outlook.
Baidu (BIDU) Q1 2025: AI Cloud Jumps 42%, Reshaping Core Revenue Mix
Baidu’s AI Cloud is showing a long reinvestment runway with strong growth and improving unit economics, and the business model is increasingly self-reinforcing with open-source and ecosystem effects. Customer value is deepening, and the company is transitioning to a growth model, but near-term monetization and cash flow are lagging, so not all signal questions reach the highest threshold. The business is not entirely unknown or under-followed, so a perfect signal score is not warranted, but the inflection is significant and actionable.
ETN Q3 2025: Data Center Orders Surge 70% as Boyd Acquisition Boosts Liquid Cooling Exposure
ETN demonstrates a long reinvestment runway, disruptive expansion into data center liquid cooling, and strong compounding business model elements. Backlog and order growth are exceptional, but forward guidance (while strong) is not truly exceptional or accelerating above 30%, and cash flow upside is moderate given CapEx ramp. Revenue/EPS growth is strong but not consistently above 40%. The business is clearly in growth mode, but not at the absolute highest acceleration tier.
Centrus Energy (LEU) Q1 2025: LEU Backlog Reaches $2.8B as U.S. Enrichment Capacity Moves to Forefront
Centrus shows a long reinvestment runway with high returns, a disruptive business model, and deepening customer value via multi-decade contracts and a record backlog. Recent backlog growth is significant, but revenue/EPS growth is not yet consistently >20%, and cash flow acceleration is moderate pending DOE funding. The business is not yet a 'giant,' but strategic positioning and policy tailwinds provide strong signal. The opportunity is high, though some metrics (like immediate cash flow acceleration and >40% growth) are not fully met.
RegeneX Bio (RGNX) Q2 2025: $100M Milestone Fuels Dual Pivotal Launches in Gene Therapy Pipeline
RegeneX Bio is a late-stage biotech with multiple pivotal programs, strong funding, and clear commercial runway. The business model is disruptive with high optionality, but future growth is contingent on pivotal data and regulatory outcomes. Cash flow is not yet accelerating, and growth, while strong, is not yet at a breakout level until approval. Still, the pipeline and strategic positioning are high-signal for investors.
Eve Air Mobility (TH) Q2 2025: $14B Pre-Order Backlog Anchors Path to 2027 Entry
Eve Air Mobility demonstrates a long reinvestment runway with a disruptive, high-growth business model and a substantial pre-order backlog. There is clear evidence of improving unit economics and a self-reinforcing ecosystem strategy. Customer value is deepening via firm order conversions and aftermarket contracts. The business is transitioning to execution risk, but future guidance is not yet exceptional (no >30% acceleration in growth). Cash flow is not yet accelerating, and near-term revenue growth is not above 40%. Overall, the signal is strong but not at the highest possible level due to the current pre-revenue, development-stage status.
Aurinia (AUPH) Q2 2025: Phase 1 R-Tintercept Cuts IgA by 48%, Paving Path for Autoimmune Expansion
Aurinia is at a strategic inflection with a clear long runway (multiple new indications, platform play), robust early clinical results, and a disruptive model (self-administration, monthly dosing). The business is not yet at high cash flow but is transitioning toward growth. Guidance is strong but not yet at exceptional acceleration (>30%), and while the model is disruptive, cash flow is not yet accelerating at the highest level.
Energy Vault (NRGV) Q1 2025: Backlog Jumps 49% as Asset Ownership Model Gains Traction
Energy Vault shows a long reinvestment runway, self-reinforcing business model, and improving unit economics with a disruptive asset ownership pivot. Backlog growth is significant and recurring revenue visibility is strong. However, while growth is robust, guidance and backlog do not quite reach the 'exceptional' threshold for some criteria, and cash flow acceleration is present but not yet dramatic. The business is clearly transitioning into a high-quality growth profile, but not all signal factors are maxed.
REPLIMUNE (REPL) Q4 2025: RP1 Nears July PDUFA as 80% Eligible Melanoma Patients Targeted for Launch
REPLIMUNE is at a pivotal launch inflection with a potentially disruptive asset (RP1) in a large, underserved market. The business model has platform and pipeline leverage, early evidence of self-reinforcing dynamics, and a long reinvestment runway. However, the absence of revenue and the need for real-world validation temper the signal. Growth is likely to be strong but not yet proven at the 40%+ level, and cash flow is not yet accelerating. Still, the setup is exceptional for a pre-commercial biotech.
YMAB (YMAB) Q2 2025: SADA Platform Doubles Tumor Uptake, Accelerating Radiopharma Pipeline
YMAB’s SADA platform demonstrates a disruptive, modular business model with clear evidence of improved unit economics, expanding pipeline, and strong strategic positioning. While growth and cash flow acceleration are strong, the lack of disclosed financials and some future milestones not yet realized temper the highest scores. The business is transitioning to a platform model with high potential, but certain inflections (e.g., commercial ramp, >40% growth) are not yet fully proven.
UEC Q4 2025: Unhedged Inventory Reaches 1.36M Pounds as Vertical Integration Accelerates
UEC demonstrates a long reinvestment runway, significant recent developments (vertical integration, inventory build), improving unit economics, and a self-reinforcing business model. Customer value (government/utility demand) is rising, but near-term growth rates are not yet 40%+, and cash flow is not yet accelerating at the highest level. The business is clearly transitioning to growth, but some execution and policy risks remain.
Ligand (LGND) Q1 2025: Royalty Revenue Jumps 44%, Pipeline and Special Situations Expand Growth Runway
Ligand demonstrates a strong, scalable royalty model with a long reinvestment runway, improving unit economics, and self-reinforcing business dynamics. Recent results and guidance signal robust growth, but while the business is high quality and levered to special situations, it is not a new or under-followed story, and growth (while strong) is not at the extreme acceleration threshold for top scores. The signal is high but not at the absolute maximum due to these factors.
MindWalk (IPA) Q1 2026: Netherlands Divestiture Unlocks $16M for AI Platform Acceleration
MindWalk is transitioning to a disruptive, high-margin, platform-based business model with a long reinvestment runway and strong unit economics. The Netherlands divestiture is a significant business evolution, and the company is showing improving margins and SaaS adoption. However, while growth is strong, it is not yet at an exceptional/acceleration level across all metrics. Cash flow is improving but not yet accelerating. The business is clearly a growth business, though not yet at hypergrowth levels.
Datadog (DDOG) Q2 2025: AI Native Revenue Jumps to 11%, Broadening Platform Adoption
Datadog exhibits a long reinvestment runway, disruptive model, and strong compounding dynamics (multi-product adoption, security expansion, AI cohort). Recent growth in AI native revenue and security ARR is significant, but not at a level to warrant maximum scores for all growth acceleration questions. Some caution in guidance and potential volatility in the AI cohort temper the signal. Still, the business is clearly in a strong growth phase with high investor relevance.
Be Light Bio (BLTE) Q1 2025: DRAGON Phase 3 DSMB Endorsement Signals Regulatory Momentum
Be Light Bio presents a strong case for high signal: a rare DSMB regulatory submission recommendation, long cash runway, improving unit economics (dropout rates), and a disruptive oral therapy platform. However, guidance for exceptional growth is not fully confirmed (hence a 1 for Q6), and while cash flow is improving, it is not yet sharply accelerating. Revenue and EPS growth are not yet at 40%+ as the company is pre-commercial. The business is clearly a growth company with disruptive potential and a long reinvestment runway.
Indie Semiconductor (INDI) Q2 2025: Emotion3D Acquisition Adds $20M Software Upside as ADAS Ramps Approach
Indie Semiconductor shows strong signals: long reinvestment runway (ADAS, photonics, software), major developments (Emotion3D acquisition, quantum wins), improving unit economics, self-reinforcing business model, and deepening customer value. Future growth is good but not yet exceptional (guidance and ramp timing suggest strong but not explosive acceleration). The business is disruptive, with some cash flow improvement, likely to grow over 20% but under 40% near-term. It is a clear growth business, but not at the highest end of inflection yet.
EYPT Q2 2025: Phase 3 Enrollment Surges Past 800, Securing First-to-File Lead for DuraView
EYPT demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and clear self-reinforcing dynamics. The company is positioned for rapid growth if pivotal data are positive, but as a clinical-stage biotech, revenue and EPS growth are not yet realized. The future could be exceptional, but until readouts, some uncertainty remains. Still, the signal is strong, with a first-mover advantage and clear valuation inflection point.
Codexis (CDXS) Q2 2025: Gross Margin Jumps 27 Points as Ecosynthesis Demand Outpaces Capacity
Codexis demonstrates a long reinvestment runway, disruptive platform, margin expansion, and customer stickiness. Growth is strong but not yet at exceptional (30%+) acceleration for future guidance, and cash flow is improving but not yet rapidly accelerating. Overall, signal is strong for a platform transition, but not at the highest possible inflection.
AMSC (AMSC) Q4 2024: Orders Surge 56% to $320M, Semiconductor and Grid Tailwinds Accelerate
AMSC is demonstrating a strong reinvestment runway, with record bookings and backlog up over 100%. There is a significant uptick in growth and backlog, and unit economics (margin and cash flow) are improving with scale. The business model is becoming more self-reinforcing, though network effects are not dominant. Customer value is improving but not yet consistently deepening across all segments. The business outlook is exceptional, with accelerating growth and cash flow, and the company is positioned as a growth business. Some aspects (e.g., business model disruption and customer value deepening) are emerging but not fully mature, warranting slightly lower scores.
Howard Hughes Holdings (HHH) Q2 2025: Pershing Square’s $900M Injection Fuels Insurance Pivot
HHH’s insurance pivot, Pershing Square partnership, and strong real estate performance signal a major business evolution with high potential for value creation and capital redeployment. The insurance acquisition could provide a long runway and self-reinforcing business model, but execution risk and lack of immediate acceleration in cash flow or >40% growth cap the score. Still, the signal is well above average given the strategic transformation and optionality.
KalVista (KALV) Q1 2026: 5% of U.S. HAE Population Submits Ectorly Prescriptions, Signaling Rapid Adoption
KalVista demonstrates a disruptive business model with rapid early adoption and a large addressable market, underpinned by strong initial execution and a clear reinvestment runway. However, durability of growth and cash flow acceleration remain to be proven as payer access and refill rates mature. The business is clearly in high-growth mode but faces execution risk in converting early interest into recurring revenue.
B1 Medicines (ONC) Q2 2025: Brukinsa Drives 49% Global Growth as Margin Expands to 87%
B1 Medicines demonstrates a long reinvestment runway with high returns, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and cash flow is accelerating. However, while growth is strong, it is not at the most exceptional levels in all areas, and the business model, while innovative, is not fully disruptive. Revenue growth is above 20% but not consistently above 40%, and the pipeline, though robust, faces execution risk.
Kestra Medical (KMTS) Q1 2026: In-Network Patient Mix Climbs to 80%, Powering Margin Expansion
Kestra Medical demonstrates a long reinvestment runway, strong recent growth (52% YoY revenue), improving unit economics, and a self-reinforcing, scalable business model. Customer value is increasing, and guidance is up, but the growth outlook, while strong, is not yet exceptional or disruptive at the highest level. The business is clearly in a high-growth phase with a differentiated model, but some elements (such as RCM and payer contracting) are not unique to Kestra, limiting the disruptive score. Cash flow is improving but not yet a machine, and while clinical data is a catalyst, it is not guaranteed to transform the category overnight.
Illuma (ALMU) Q4 2025: Pipeline Doubles as Commercialization Drive Accelerates
Illuma demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. The pipeline doubling and commercial inflection are highly significant, but actual revenue acceleration and cash flow are not yet exceptional. The business is clearly in a high-growth, transition phase, but some metrics (e.g., guidance and cash flow) are not yet at the highest signal tier.
MongoDB (MDBH) Q2 2026: Atlas Accelerates 29% as Enterprise Workloads Drive Durable Growth
MongoDB demonstrates a long reinvestment runway and improving unit economics with accelerating Atlas growth and margin leverage. There are significant developments (Atlas acceleration, enterprise workload expansion), and the business is compounding with scale and customer value deepening. However, the growth outlook, while strong, is not at the most extreme levels, and the business model, though differentiated, is not fully disruptive versus hyperscalers. Forward guidance is robust but not exceptional (mid-20s growth, not 40%+), so the score is capped below maximum.
Intellia (NTLA) Q1 2025: Phase 3 Enrollment Surges Past 90 Sites, Accelerating Path to First Launch
Intellia demonstrates a long reinvestment runway, disruptive business model, and accelerating clinical/commercial momentum. Enrollment and pipeline progress are strong, but guidance does not yet reflect >30% acceleration in growth, and cash flow is not yet accelerating. Revenue growth potential is high but not definitively >40% annually at this stage. The business is clearly in a high-growth, transition-to-commercial phase with strong optionality, but some upside is yet to be realized.
Uber (UBER) Q2 2025: Uber One Membership Jumps 60%, Unlocking Platform Cross-Sell Flywheel
Uber demonstrates a long reinvestment runway, strong cross-platform flywheel effects, and improving unit economics, with AV and membership growth providing new optionality. Recent developments (Uber One up 60%, AV utilization) indicate major business evolution, but not at the level of hypergrowth in all areas. The business model is self-reinforcing and cash flow generative, with evidence of compounding advantages. However, some elements (AV, future growth rates) still face execution risk and are not yet exceptional in near-term guidance, warranting a slightly conservative signal score.
Goosehead Insurance (GSHD) Q1 2025: Franchise Productivity Up 21% as Market Stabilization Drives Retention Turn
Goosehead demonstrates a strong reinvestment runway, improving unit economics, and a self-reinforcing business model with rising customer value. There are clear signs of inflection in productivity and retention, but growth guidance is good (not exceptional) and the business, while innovative in insurance distribution, is not fully disruptive. Cash flow is strong and accelerating, but the revenue/EPS growth outlook is robust rather than explosive. Overall, the business is transitioning into a high-quality growth phase, but not at the absolute highest tier of signal.
Oklo (OKLO) Q1 2025: Order Book Climbs to 14 GW as Federal Tailwinds Accelerate Deployment Path
Oklo exhibits a long reinvestment runway, disruptive business model, deepening customer value, and strong federal/policy tailwinds. The 14 GW pipeline and recent DoD qualification are significant, and unit economics are poised to improve with scale. However, revenue growth is not yet at the 40%+ level, and cash flow is not yet accelerating, so a perfect score is not warranted.
Madrigal Pharmaceuticals (MDGL) Q2 2025: ResDifera Run Rate Tops $800M as Patent Extension Secures Decade-Long Growth Runway
Madrigal demonstrates a long reinvestment runway (patent to 2045), breakout growth, improving unit economics, and a disruptive, self-reinforcing business model in a large, underpenetrated market. Combination therapy and international expansion offer further optionality. However, some signal is tempered by the need for execution on combo therapy and international ramp, and cash flow is not yet fully accelerating.
CHA Q2 2025: Overseas GMV Jumps 77% as Premium Brand Strategy Outpaces Subsidy War
CHA demonstrates a long reinvestment runway, disruptive model, and strong international growth (notably 77% overseas GMV growth and 52 net new overseas stores). Unit economics are improving, especially overseas, and the business model is self-reinforcing with a premium brand focus. Customer value is rising (member growth +42.7% YoY). However, exceptional (30%+) overall growth is not yet broad-based (China SSSG is pressured), and cash flow acceleration is moderate due to investment. Overall, signal is very high but not perfect due to lingering domestic headwinds and investment phase.
Elector (ALEC) Q2 2025: $307M Cash Extends Runway as Phase 3 FTD Data Nears
Elector has a long reinvestment runway with a disruptive platform and multiple shots on goal. The upcoming Phase 3 readout is a high-magnitude catalyst, and the business model is self-reinforcing if successful. Unit economics and customer value are not directly addressed due to pre-commercial status, but optionality is high. Growth is not yet exceptional (pending data), and cash flow is not accelerating (pre-revenue), but the business is clearly a growth platform with strong optionality if the trial succeeds.
Interactive Brokers (IBKR) Q1 2025: Record 32% Account Growth Anchors Global Platform Expansion
IBKR demonstrates a long reinvestment runway, record-breaking account growth, and improving unit economics. The platform model is self-reinforcing with high retention and international expansion. While growth is strong, it is not yet at the 'exceptional' 40%+ level for revenue and EPS, and the business model, while innovative, is not fully disruptive. Cash flow is robust and accelerating, and the company is firmly in the growth category. The signal is strong, but not at the absolute highest level due to the company's scale and maturity.
Rumble (RUM) Q2 2025: ARPU Jumps 24% as Cloud and Crypto Wallet Drive Strategic Shift
Rumble demonstrates a strong reinvestment runway, disruptive business model, and improving unit economics. Partnerships and new product launches (wallet, cloud, AI) provide optionality. However, while growth is accelerating and the business is transitioning to a higher gear, some uncertainty remains around the pace of cloud/AI revenue conversion and international traction, slightly tempering the signal score.
Liquidia (LQDA) Q3 2025: Eutropia Captures 75% of Inhaled Prostacyclin Market Growth
Liquidia demonstrates a long runway with a disruptive product and clear commercial traction, capturing the majority of new market growth with improving unit economics and early profitability. However, the litigation overhang and pipeline execution risks temper the signal somewhat. The business is high-growth and transitioning to profitability, but not yet at the extreme end of acceleration (>40% growth or exceptional future guidance), and some lateral opportunities are still emerging.
ONON (ONON) Q2 2025: DTC Mix Hits 41%, Accelerating Premium Margin Expansion
ONON demonstrates a long reinvestment runway, premium brand momentum, and improving unit economics. There is strong evidence of self-reinforcing business dynamics (DTC, product innovation, expanding franchises), and customer value is deepening. However, while growth is rapid and guidance is raised, the future outlook is very strong but not quite at the 'exceptional' threshold for some metrics. The business is disruptive within its category, but apparel and global expansion are still proving themselves. Signal is high, but a notch below the most explosive growth profiles.
Porch Group (PRCH) Q1 2025: 82% Margin Signals Durable Shift to Fee-Based Model
Porch's transition to a fee-based, capital-light model with strong surplus and margin durability signals a major business evolution with high reinvestment potential. The model is disruptive for insurance, and the company is positioned for scalable growth as housing cycles normalize. Some growth metrics (e.g., software/data) are currently muted, and customer value deepening is more implied than proven, but the overall signal is strong and actionable.
U.S. Energy (USEG) Q2 2025: Montana Resource Confirmed at 444 Bcf CO2, Unlocking Multi-Stream Monetization
USEG demonstrates a long reinvestment runway, a disruptive business model pivot, and clear improvements in unit economics and customer value over time. The resource validation and platform buildout provide strong evidence of future growth and optionality, but near-term execution risk and the lack of confirmed acceleration in cash flow/revenue (still pre-monetization) temper the score. The business is transitioning to high growth but not yet at the 40%+ inflection, and some metrics (cash flow, offtake) are still forward-looking rather than realized.
InterDigital (IDCC) Q2 2025: Samsung Arbitration Drives 67% Royalty Uplift, Locks in $1B+ Through 2030
InterDigital demonstrates strong recurring revenue growth, operational leverage, and high returns on capital. The business is not fully disruptive but is expanding into new verticals and standards. While growth is strong, it is not consistently above 40% annually, and some future optionality remains unproven. The model is self-reinforcing, and cash flow is accelerating, but the company is not an unknown or early-stage disruptor, warranting a slightly conservative signal score.
Genmab (GMAB) Q2 2025: Recurring Revenues Rise 22% as Pipeline Advances Fuel Expansion
Genmab has a long reinvestment runway with high ROIC, significant pipeline-driven business evolution, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and the future outlook is strong but not yet at an exceptional acceleration. The business model is semi-disruptive, and cash flow is accelerating. Revenue and EPS growth is solid but not above 40%. Genmab is a growth business, but as a well-followed, large-cap biotech, the signal for outlier upside is slightly capped.
PTC Therapeutics (PTCT) Q1 2025: $2B Cash Bolsters Multi-Asset Launch Cycle
PTC Therapeutics exhibits a strong signal profile: long reinvestment runway, clear disruptive business model, improving unit economics, and a multi-asset launch cycle with potential for revenue and EPS growth above 20%. The business is transitioning into a growth phase, but some elements (cash flow acceleration, near-term growth rate) are not yet exceptional, so the score is conservative. The business is interesting and has upside, but not at the highest possible level of signal.
ZEPP (ZEPP) Q2 2025: Revenue Surges 46% as Premium Smartwatch Mix and Supply Chain Diversification Drive Upside
ZEPP is showing strong growth, a clear turnaround, and premiumization with accelerating revenue and margin guidance. Reinvestment runway and disruptive potential are good but not best-in-class given the competitive landscape and lack of clear, entrenched network effects or customer lock-in. Still, the recent inflection and forward guidance are highly positive signals.
Wingstop (WING) Q3 2025: Net New Restaurants Up 19% as Smart Kitchen Rollout Drives Expansion
Wingstop has a long reinvestment runway, strong unit economics, and a disruptive asset-light model with global optionality. Growth is robust but not at hypergrowth levels (>40%), and while future growth levers are strong, near-term comps are negative and macro risks remain. The business is not unknown or underfollowed, so the signal is strong but not at the absolute maximum.
Pure Storage (PSTG) Q2 2026: Hyperscaler Win Sets Path to 10+ Exabyte Deployments
Pure Storage's hyperscaler win, move to 10+ exabyte deployments, and shift to recurring software revenue represent a meaningful strategic inflection with clear growth runway and improving economics. However, near-term cash flow acceleration and growth guidance are solid but not exceptional, and the business is not entirely unique or undiscovered, justifying a slightly lower signal score.
SportRadar (SRAD) Q2 2025: Managed Trading Services Volume Hits €45B, Powering Margin Expansion
SportRadar demonstrates a long reinvestment runway, with managed trading services and U.S. expansion driving growth. Unit economics and customer value are improving, and the business model displays self-reinforcing characteristics. However, while growth is strong, it is not at an exceptional (30%+) acceleration level, and the business, while platform-driven, is not fully disruptive in the vein of a pure technology upstart. Revenue growth is robust but not consistently above 40%. Overall, the business offers significant strategic upside but is not in a hypergrowth or highly disruptive phase.
Unity (UNIT) Q2 2025: Hyperscaler Funnel Hits $1.5B, Accelerating Fiber-Driven Margin Expansion
Unity exhibits strong reinvestment runway, improving unit economics, self-reinforcing business model, and deepening customer value. The hyperscaler funnel and AI-driven lease-up economics are significant, but guidance and growth rates, while strong, are not yet at the most exceptional levels. The business is transitioning rapidly to a growth model, but not all signal elements are at the highest possible threshold.
Beta Bionics (BBNX) Q2 2025: Pharmacy Channel Hits 7x Install Base, Unlocking Recurring Revenue Tailwind
BBNX demonstrates a long runway, disruptive business model, improving unit economics, and a clear shift to recurring revenue. Growth is strong but not consistently above 40% and cash flow is not yet accelerating rapidly, so a couple points are conservatively docked. Still, the business is positioned for strong future upside.
Texas Pacific Land (TPL) Q2 2025: Produced Water Royalties Hit $31M, Underscoring Permian Resilience
TPL demonstrates a long reinvestment runway with high ROIC, record-setting water royalties, and improving unit economics. The business model is self-reinforcing (royalty/surface leverage, water infrastructure), and customer value is deepening. While growth is strong, guidance/outlook is constructive but not exceptional (hence 1 for Q6/9). The business is semi-disruptive (water, desalination, power/data center synergies), but not a pure disruptor. Cash flow is accelerating, and TPL is a clear growth business, but not at a hypergrowth (40%+) rate. Overall, the signal is high but not perfect.
Sterling Infrastructure (STRL) Q2 2025: E-Infrastructure Margins Surge 500bps as Data Center Backlog Hits 62%
Sterling shows strong signal: a long runway in e-infrastructure, a major backlog mix shift, improving unit economics, self-reinforcing business model, and deepening customer value. However, while growth is robust and accelerating in key areas, overall company guidance and growth rates are not at the highest tier (some segments lag, e.g. building solutions), and the business model, while evolving, is not fully disruptive. Still, the margin and backlog transformation and capital allocation strategy make it highly investable.
Krystal Biotech (KRYS) Q3 2025: Gross Margin Jumps to 96% as Global Launches Expand
Krystal Biotech demonstrates a strong reinvestment runway, disruptive platform potential, and high-margin expansion as it transitions to a global rare disease leader. However, ex-US ramp is steady, not explosive, and while pipeline optionality is significant, near-term growth rates and backlog acceleration are not at the highest tier. Still, the signal is well above average due to the business model, margin leverage, and upcoming data catalysts.
Pony AI (PONY) Q2 2025: Robotaxi Fare Revenue Surges 300% as Gen 7 Scale Drives Unit Cost Down
Pony AI demonstrates a long reinvestment runway, disruptive business model, and strong unit economics improvement. Fare revenue and user adoption are inflecting, and the business is clearly in growth mode. However, profitability remains distant, global expansion is still early, and cash flow acceleration is not yet fully evident, which tempers the score.
SEMR Q1 2025: Enterprise SEO Customers Up 86%, Fueling Platform Expansion and AI Upsell
SEMR demonstrates a long reinvestment runway with expanding enterprise and AI segments, both showing high growth and improving economics. There is a material recent uptick in enterprise customer growth and AI ARR, but not at a hypergrowth (40%+) level for the overall business. Unit economics, retention, and ARPC are improving with scale and mix shift. The business model is becoming more self-reinforcing with data and AI, but true network effects are still emerging. Customer value is deepening, but NRR is not yet exceptional. The business is transitioning toward a disruptive, platform-centric model, but is not yet a category-defining outlier. Cash flow and margins are improving, and the business is firmly in growth mode, but not at the most extreme signal levels.
Constellation Energy (CEG) Q2 2025: Calpine to Add $2 EPS, Cementing Nuclear-Gas Platform Advantage
Constellation Energy presents a strong case for high signal: long reinvestment runway, significant business evolution (Calpine deal), improving unit economics and self-reinforcing business model, rising customer value, and a growth business profile. Guidance is strong but not exceptional (hence a 1 for question 6). The business model is semi-disruptive (hybrid nuclear-gas platform) but not fully disruptive (score 1 for question 7). Growth rates are strong but not consistently over 40% (score 1 for question 9). Overall, the signal is very high but not perfect due to the semi-disruptive nature and growth rate.
SGHC (SGHC) Q1 2025: Africa Lifts Group Revenue 25%, Margin Expansion Signals Operating Leverage
SGHC exhibits strong growth and margin expansion, with Africa providing a long runway and supernormal returns. The business model is self-reinforcing in core regions, unit economics are improving, and cash flow is accelerating. However, growth guidance is solid but not exceptional, and while the model is disruptive in Africa, it is less so in mature markets. The company is not a household name, but the signal is strong for investors seeking upside in emerging market gaming.
CDE Q2 2025: Free Cash Flow Surges to $146M as Las Chispas Integration Drives Margin Expansion
CDE is showing a long reinvestment runway with high returns, a step-change in FCF, and improving unit economics. The business model is becoming more self-reinforcing with operational leverage and cost control, and customer value (mine productivity, margin) is rising. Forward guidance is strong but not at an exceptional (30%+) acceleration level. The business is semi-disruptive in its segment but not fundamentally transforming the industry. Cash flow is accelerating, but revenue growth is guided above 20% but not above 40%. CDE is now a growth business, but the overall sector and company maturity cap the signal score below a perfect mark.
Klaviyo (KVYO) Q2 2025: International Revenue Jumps 42% as AI-Driven CRM Expands Upmarket
Klaviyo demonstrates a long reinvestment runway, disruptive business model, and clear international and enterprise growth. There is evidence of improving unit economics, customer value expansion, and a compounding platform. While growth is strong, it is not consistently above 40%, and cash flow is accelerating but not at maximum velocity. The business is not entirely unknown or under-followed, which slightly moderates the signal score.
NGS (NGS) Q2 2025: Growth CapEx Surges to 140% of EBITDA, Outpacing Peers and Fueling Share Gains
NGS demonstrates a long reinvestment runway with outsized CapEx and high returns, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and the business is transitioning into a cash flow generator. However, while growth is robust, it is not at an exceptional, hyper-growth level (>30% acceleration), and the business model, while differentiated, is not fully disruptive. Revenue growth is strong but not consistently above 40%.
Toast (TOST) Q2 2025: Net Location Adds Hit 8,500 as New Segments Near $100M ARR
Toast demonstrates a long reinvestment runway, strong recent developments, improving unit economics, and a self-reinforcing model. Customers are becoming more valuable, and the business is clearly in growth mode. However, while growth is strong, the guidance and outlook do not indicate truly exceptional acceleration (over 30%) in the near term, and the business model, while innovative, is not fully disruptive in the broadest sense. Revenue/EPS growth is above 20% but not consistently above 40%. Overall, the signal is high but not at the absolute maximum.
Guidewire (GWRE) Q4 2025: Cloud ARR Jumps 36% as Tier 1 Wins Accelerate Platform Expansion
Guidewire shows a long reinvestment runway, strong cloud growth, improving unit economics, and a self-reinforcing platform model. Customers are becoming more valuable, and the business is transitioning into a new phase (AI/analytics). While growth is robust, it is not hypergrowth (>40%), and the business model, while evolving, is not truly disruptive in the SaaS landscape. Still, the signal is strong for durable, high-quality growth.
Sea Limited (SE) Q1 2025: Triple-Digit Profit Growth and Platform Leverage Across E-Commerce, Fintech, and Gaming
Sea Limited demonstrates a strong multi-segment growth engine with improving margins, platform synergies, and expanding reinvestment opportunities. The loan book, ad monetization, and gaming rebound are all significant drivers. However, while growth is robust, it is not at the most exceptional (40%+) level across all lines, and the business, while high quality, is relatively well-followed and not highly underappreciated, moderating the signal score.
Kornit Digital (KRNT) Q1 2025: Recurring Revenue Surges to 80% as Apollo and AIC Drive Apparel Supply Chain Shift
Kornit demonstrates a long reinvestment runway and disruptive business model with deepening recurring revenue. Growth is strong but not yet at a consistently exceptional (30%+) level, and while cash flow and unit economics are improving, they are not yet at maximum acceleration. The business is clearly in a high-growth, transition-to-scale phase, with significant optionality, but some metrics (such as near-term growth rates and cash flow) are not yet at the highest possible signal level.
eCARX (ECX) Q1 2025: Software License Revenue Jumps 148% as Global OEM Adoption Accelerates
eCARX demonstrates a long reinvestment runway with high-margin software scaling, significant growth in software licensing, and clear business model evolution. Unit economics and business model self-reinforcement are evident. Customer value is rising, and the company is transitioning toward a disruptive, platform-led model. Growth is strong but not yet at the very highest acceleration levels, and some risks in international execution remain.
TechnoGlass (TGLS) Q2 2025: Backlog Hits $1.2B, Locking in Multi-Year Revenue Visibility
TechnoGlass demonstrates strong backlog-driven growth, margin expansion, and cash flow, with a vertically integrated, self-reinforcing model. While growth is robust and the business is clearly not mature or capped, the runway and disruption potential are good but not exceptional—hence deductions on some signal dimensions.
Harrow (HROW) Q2 2025: TriEssence Up 32% as Ophthalmic Portfolio Accelerates Leverage
Harrow demonstrates clear operating leverage, accelerating product adoption, and a broadening portfolio with disruptive elements (biosimilars, specialty pharmacy). Growth rates and margin expansion are strong, but some future growth (biosimilars) is not yet realized, and the business—while high-growth—is not on the cusp of becoming a giant or showing >40% annual revenue/eps growth. The model is self-reinforcing and the company is transitioning to a growth leader, but with some moderate, not exceptional, signals on future acceleration.
BridgeBio (BBIO) Q2 2025: Atruby Scripts Surge 30% as Pipeline Readouts Near
BridgeBio demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a strong transition to multi-asset growth. Script growth and pipeline readouts signal high growth potential, but not all signals (e.g., cash flow acceleration, guidance) reach the highest threshold. The business is not yet a massive outlier, but the signal is strong and actionable.
Stereotaxis (STXS) Q2 2025: Recurring Revenue Jumps 35% as Proprietary Catheters Gain Traction
The company is showing a strong inflection with recurring revenue growth, proprietary product traction, and a disruptive platform model. Runway is long, and the business is transitioning to higher-margin recurring revenue. Some growth metrics (e.g., future guidance) are not yet at the highest acceleration, and cash flow is not fully accelerating, so scores are tempered accordingly.
Carpenter Technology (CRS) Q4 2025: SAO Margins Hit 30.5% as Power Generation Demand Surges 100%+
CRS demonstrates long reinvestment runway, breakthrough margin expansion, and a disruptive shift in growth vectors (notably power generation). Unit economics and cash flow are improving, and the business is clearly in a growth phase. However, growth guidance is strong but not at the absolute highest acceleration, and while the model is highly attractive, it is not a tech-like disruptor, so a few scores are capped at 1.
SES (SES) Q2 2025: Cash Burn Drops 51% as Molecular Universe Drives Platform Expansion
SES is a high-potential, platform-driven business with clear reinvestment opportunities and disruptive potential. The company is transitioning from R&D to commercialization, with improving unit economics and a multi-pronged business model. While growth is not yet at hyper-scaling levels and cash flow is not yet accelerating, the business is positioned for significant upside if execution continues. The signal is strong but not at the absolute highest level due to the early stage of commercial ramp and some execution risk.
Unity (U) Q1 2025: Vector Drives 15–20% Advertiser ROI Lift, Reshaping Ad Platform Trajectory
Unity is executing a major platform shift with clear early operational success (Vector-driven ROI lift, rapid migration, and double-digit subscription growth). The business model is highly self-reinforcing, with improving unit economics, compounding data/network effects, and a disruptive, high-margin subscription engine. Risks remain around the pace of financial realization and full advertiser adoption, but the signal for long-term growth and margin expansion is strong. Revenue and EPS growth is likely above 20% but not yet at hypergrowth levels, and some cash flow acceleration is still to come.
Upstart (UPST) Q1 2025: 89% Origination Surge Signals AI-Driven Market Expansion
Upstart demonstrates a long runway with high ROIC, disruptive AI-driven model, and strong recent growth in originations and new verticals. Unit economics are improving, customers are becoming more valuable, and the business is transitioning to profitability. However, full acceleration in cash flow and revenue/eps growth >40% is not yet evident, and guidance remains conservative.
Amer Sports (AS) Q2 2025: Outdoor Performance Surges 35%, Salomon and Arc'teryx Fuel Global Expansion
Amer Sports demonstrates a long reinvestment runway, strong unit economics, and compounding business model advantages, particularly in D2C and premium segments. Growth is robust but not at hypergrowth (40%+) levels, and while the business is disruptive within its sector, it is not a tech-like disruptor. Cash flow and margin expansion are strong, and the business is clearly in a high-growth phase. The main deduction is for growth not being at the very highest acceleration and for the business model being premium/brand-led rather than fundamentally disruptive.
Energy Vault (NRGV) Q2 2025: $300M Preferred Equity Secured, Unlocks $1B+ Project Pipeline
Energy Vault is at a structural inflection, moving from a project contractor to a recurring cash flow operator with a large, growing backlog and a disruptive business model. The recent preferred equity deal unlocks a long reinvestment runway and recurring EBITDA potential. While growth is strong (but not yet above 40%), and cash flow is not yet accelerating, the business model is becoming more self-reinforcing and the future looks exceptional, though not yet at the highest possible trajectory.
CAVA (CAVA) Q2 2025: New Restaurant Cohorts Drive 40%+ Cash Returns, Cementing Expansion Model
CAVA demonstrates a long reinvestment runway with exceptional new unit returns and strong expansion economics. There are clear signs of operational leverage, high customer lifetime value, and a differentiated model. However, growth is not yet at an exceptional (30%+) acceleration, and while disruptive, the Mediterranean fast-casual niche is not entirely new or without competition. The business is a strong growth story, but not a once-in-a-decade outlier, justifying a conservative signal score.
Vicor (VICR) Q1 2025: Backlog Jumps 10% as AI Power Demand and Licensing Drive Strategic Reset
Vicor demonstrates a long reinvestment runway (AI, IP monetization), strong recent backlog growth, and improving unit economics as advanced products scale. The business model is self-reinforcing via IP and switching costs, and customer value is increasing with AI adoption. However, future growth, while promising, is not yet exceptional due to ongoing margin and licensing volatility. The business is disruptive, but cash flow and revenue growth—while solid—are not yet at the highest acceleration tier.
Quanta Services (PWR) Q1 2025: Backlog Hits $35.3B as Transmission Cycle Accelerates
Quanta Services has a long reinvestment runway, record backlog, and is central to a secular buildout, with clear evidence of compounding business dynamics. However, while growth is strong, it is not consistently above 40%, and the business—while benefiting from robust tailwinds—is not a pure disruptor. The signal is high but not at the absolute maximum due to these nuances.
Ramaco Resources (METC) Q3 2025: Rare Earths Platform Targets $500M EBITDA, Met Coal Output Cut Amid China Pressure
Ramaco is transitioning into a high-growth, disruptive business model with a long reinvestment runway in rare earths. The rare earths platform could unlock significant EBITDA, supported by vertical integration and Western supply chain bifurcation. There is clear improvement in unit economics and customer value potential. However, while growth is strong, the actual acceleration and cash flow ramp are still contingent on execution milestones, so a perfect score is not warranted.
InspireMD (NSPR) Q3 2025: U.S. Launch Drives 39% Revenue Growth, Margin Leverage Building
The business demonstrates a long reinvestment runway, disruptive model, and self-reinforcing dynamics with improving unit economics and customer value. The U.S. launch is a major inflection, but future growth guidance is not yet exceptional (over 30%+), and cash flow is not yet accelerating, so points are withheld on those criteria. The business is in clear growth mode and offers substantial optionality.
Viking Therapeutics (VKTX) Q1 2025: R&D Spend Jumps 72% as VK2735 Obesity Program Scales to Phase III
Viking is at a clear late-stage inflection, with a long reinvestment runway, disruptive obesity pipeline, and dual-formulation strategy. There is strong evidence of scale-up, manufacturing readiness, and a large cash runway. However, while growth and optionality are high, the near-term business is not yet showing exceptional acceleration (>30%) and cash flow is not yet rapidly accelerating, so the signal is strong but not maximal.
Welltower (WELL) Q2 2025: $9.2B Acquisition Pace Redefines Senior Housing Platform Scale
Welltower demonstrates a long reinvestment runway, strong unit economics, and a self-reinforcing business model with improving customer value. The business is not quite at the threshold of exceptional future growth (>30%), and while disruptive elements are present, the model is still partly traditional. Cash flow is accelerating, and the company is firmly in growth mode, but topline and EPS growth are in the 20-40% range, not exceeding 40%. The signal is strong, but not at the very highest level due to the scale and maturity of the platform.
Uber (UBER) Q3 2025: Mobility Trips Jump 21% as AV and Cross-Platform Bets Scale
Uber demonstrates a long reinvestment runway, improving unit economics, and self-reinforcing business model with cross-platform and membership flywheels. There is strong growth and cash flow acceleration, but not quite at the exceptional/over 40% level for all metrics. AV and local commerce provide disruptive optionality, but some bets (AV) are still in early stages. The business is transitioning to a growth platform with high margins, but growth is high-teens to low 30s, not consistently 40%+.
Curtiss-Wright (CW) Q2 2025: Backlog Hits $3.8B, Fueling Multi-Year Defense and Nuclear Upside
Curtiss-Wright demonstrates a long reinvestment runway, record backlog, and margin expansion, with improving unit economics and self-reinforcing business model elements (defense/nuclear). Customer value is rising, and the business model is semi-disruptive (nuclear/defense tech, but not entirely new). Cash flow is accelerating, but revenue growth (9-10%) is solid but not hypergrowth, and the company is transitioning to a multi-year compounding phase rather than being a new high-growth story. The signal is strong but capped by the business's maturity and sector profile.
CoreSep Therapeutics (CORT) Q2 2025: 49% Prescription Surge Outpaces Pharmacy Capacity, Setting Up Relacorlin Launch
CoreSep demonstrates a long reinvestment runway with high returns, a disruptive business model, and clear strategic inflections (Relacorlin, oncology). The 49% prescription surge and pipeline expansion are significant, but revenue/EPS growth is not yet 40%+ and cash flow is not yet accelerating at the highest tier. Still, the business is positioned for exceptional future growth, with some execution risk around capacity and launch.
Wave Life Sciences (WVE) Q1 2025: R&D Spend Climbs 22% as Obesity and AATD Programs Near Data Inflection
Wave presents a high-signal, high-risk pipeline story with potential for inflection if clinical data deliver. There is a long reinvestment runway, disruptive modalities, and evidence of improving unit economics as the platform scales. However, while growth is strong, it is not yet exceptional or proven, and cash flow is not yet accelerating—hence some deductions. The business is still pre-commercial, but the upcoming catalysts are highly relevant for investors seeking asymmetric upside.
BZ Q2 2025: Adjusted Operating Margin Hits 41.9% as SME Demand and AI Efficiency Drive Record Profitability
BZ shows strong reinvestment opportunities, clear margin expansion, and robust cash flow. SME penetration and AI-driven efficiency provide a self-reinforcing business model, and customer value is deepening. While growth is solid, it does not exceed 40% annually, and the disruption is notable but not category-defining. Guidance is positive but not exceptional. The business is a growth leader, but not an undiscovered or explosive opportunity.
Xeris (XERS) Q1 2025: RecoraLev Revenue Surges 141%, Anchoring 48% Total Growth
Xeris demonstrates a long reinvestment runway with strong product growth and improving margins. RecoraLev's 141% growth and portfolio leadership indicate a business inflection, with improving unit economics and compounding advantages. Customer value and cash flow are both accelerating, but the business model, while innovative, is not fully disruptive. Guidance implies strong but not hyper-growth, and pipeline execution risk remains. The business is clearly in a growth phase, but not at the very highest level of signal given the specialty pharma context.
Kingsoft Cloud (KC) Q2 2025: AI Revenue Surges 120%, Lifting Public Cloud to 32% Growth
Kingsoft Cloud is undergoing a major inflection with AI revenue up 120% YoY and now nearly half of public cloud, indicating a disruptive, high-growth model with a long runway. The model is self-reinforcing with ecosystem leverage and improving customer value. However, margin compression and supply chain risks temper the signal, and while growth is strong, it is not yet at the extreme acceleration (30%+ company-wide) for a perfect score.
CLEAR (YOU) Q1 2025: Member Base Jumps 42%, Automation Drives Operating Leverage
CLEAR demonstrates a long reinvestment runway, strong automation-driven margin expansion, and significant member growth. While B2B expansion and automation are clear growth levers, the business is not yet showing >40% revenue/EPS growth or fully disruptive B2B scale, capping the signal score. Still, the overall signal is strong and thesis-relevant.
Zevra (ZVRA) Q1 2025: MyPlypha Captures One-Third of Diagnosed NPC Patients, Expanding Rare Disease Franchise
Zevra demonstrates a long reinvestment runway, rapid growth in a rare disease market, and improving unit economics as scale increases. The business model is self-reinforcing, with high patient retention and payer engagement deepening over time. MyPlypha’s launch is a disruptive move in the NPC space. However, while growth is strong, it is not yet at an exceptional, accelerating level (>30% guidance not provided), and the cash flow profile is improving but not yet accelerating. The company is a clear growth business, but as a rare disease commercializer, the pace of expansion is somewhat gated by patient identification and payer processes.
Jiayin Group (JFIN) Q2 2025: Facilitation Revenue Mix Hits 85% as Profit Margin Expands
Jiayin Group demonstrates a long reinvestment runway, strong margin expansion, and business model transformation, with clear evidence of improving unit economics, self-reinforcing technology, and customer value deepening. International scaling and technology leadership provide further upside. However, regulatory uncertainty and the company not being a globally unique or dominant franchise slightly temper the signal score.
Ibotta (IBTA) Q1 2025: Third-Party Publisher Revenue Jumps 38% as CPID Model Gains Traction
Ibotta is undergoing a strategic platform transition with strong third-party publisher growth and CPID model validation, suggesting a long reinvestment runway and improving unit economics. However, margin headwinds, supply constraints, and only modest near-term revenue growth temper the signal. The business is disruptive and transitioning to a higher-growth model, but not yet at the level of a hypergrowth or cash flow machine. Still, the signal is strong, especially for investors seeking inflection points in adtech/retail media.
AT Renew (RERE) Q2 2025: 32% Revenue Surge Anchored by 2,092-Store Expansion and Platform Leverage
AT Renew demonstrates strong growth, platform leverage, improving unit economics, and a disruptive business model with a long runway. However, the business is not yet showing accelerating cash flow or >40% revenue/EPS growth, and future growth may moderate as subsidies normalize. Signal is high but not perfect due to these caveats.
Cerebel (CBLL) Q2 2025: Gross Margin Climbs to 88% as Supply Chain Shift Accelerates
Cerebel demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. There is strong growth, margin expansion, and a broadened pipeline, but some metrics (guidance raise, cash flow acceleration) are good but not exceptional. The business is high signal but not a breakout at the uppermost tier.
Unusual Machines (UMAC) Q2 2025: Enterprise Sales Jump to 30% as $80M Cash Fuels Domestic Expansion
UMAC demonstrates a long reinvestment runway, disruptive business model, and strong growth signals with a significant shift toward B2B/government, margin expansion, and capital strength. While guidance is positive, the magnitude of future growth is not yet exceptional (>30%) and cash flow acceleration is only moderate, keeping the signal score below maximum.
FIP (FIP) Q2 2025: $1.05B Rail Acquisition Sets Stage for 30%+ Cash Flow Expansion
FIP is making a major pivot with a large, accretive acquisition and clear synergy/cash flow levers, suggesting a long reinvestment runway and improving economics. The business model is moving toward self-reinforcing scale, and cash flow is set to accelerate. However, while growth is strong, it is not yet at the exceptional/40%+ level, and the business—while strategic—is not highly disruptive or unknown, so the score is conservatively capped below maximum.
Altimmune (ALT) Q2 2025: $183M Cash Bolsters Phase 3 MASH Readiness Amid 59% Resolution Signal
Altimmune demonstrates a long reinvestment runway with high returns, transformative clinical data, and a disruptive business model in a high-value market. While not all guidance is exceptional (some is just good), and cash flow is not yet accelerating, the company is clearly in growth mode with multiple avenues for value creation. The score is capped by moderate (not exceptional) forward guidance and cash flow, but signal remains very high overall.
Astera Labs (ALAB) Q2 2025: Scorpio Switches Hit 10% Revenue, Anchoring AI Infrastructure 2.0 Play
Astera Labs demonstrates a long reinvestment runway, rapid product ramp, improving unit economics, and a self-reinforcing model with open standards. Customer value is deepening and the business model is disruptive. However, future growth, while strong, is guided at 6-9% sequentially and not at an exceptional >30% acceleration, and cash flow is strong but not yet accelerating. Revenue growth is likely in the 20-40% range, not >40%. Overall, signal is high but not at the absolute maximum.
IBKR Q2 2025: Net New Accounts Surpass 528,000, Scaling Global Platform Amid 170% Overnight Volume Surge
IBKR demonstrates a long reinvestment runway, automation-driven margin expansion, improving unit economics, and global scale. However, while growth is strong, it is not accelerating at the highest levels (e.g., >40% revenue or EPS growth), and crypto remains an area of execution risk. The business is highly attractive but not a new or under-followed story, so the signal is high, but not at the absolute maximum.
NOVA (CAAS) Q2 2025: Gross Margin Hits 60% on Advanced Packaging and Gate-All-Around Tailwinds
NOVA exhibits strong strategic positioning, high gross margins, and multi-year secular tailwinds in advanced packaging and GAA. The business is diversified, recurring revenue is growing, and the model is self-reinforcing. However, while growth is robust, guidance does not indicate >40% growth rates or truly exceptional acceleration, and the business, while attractive, is not a newly discovered high-growth story. Signal is high but not maximal due to these factors.
Paymentus (PAY) Q3 2025: Enterprise Mix Drives 14% Transaction Pricing Lift, Expands Margin Visibility
PAY demonstrates a long reinvestment runway, strong unit economics, and a self-reinforcing, horizontally extensible platform. There are clear signs of business model durability and optionality, with enterprise onboarding and B2B expansion driving higher pricing and profitability. However, growth, while robust, is not at the extreme acceleration threshold (>40%) for several metrics, and the business model—while disruptive in payments—is not entirely unique in the fintech space. Guidance is strong but not exceptional. Overall, the signal is high, but not at the absolute maximum.
Intuitive Surgical (ISRG) Q2 2025: Da Vinci 5 Drives 45% U.S. System Placement Surge, Expanding Upgrade Cycle
Intuitive Surgical exhibits a long reinvestment runway, improving unit economics, deepening ecosystem lock-in, and strong recurring revenue—all hallmarks of a compounding business. The Da Vinci 5 upgrade cycle and adjacent platform growth are significant, but international headwinds and the already large scale of the business temper the likelihood of sustained hypergrowth or disruption-level upside. Signal is high, but not at the absolute upper bound due to these moderating factors.
Viant (DSP) Q2 2025: $250M Incremental Pipeline Signals Upmarket and Downmarket AI Expansion
Viant shows strong signs of a long reinvestment runway, disruptive business model, and improving unit economics. The $250M pipeline and AI adoption point to accelerating growth, but near-term growth is only moderate (guidance 6-10% YoY), so not all scores can be maxed. The business is transitioning to a higher-value model and is positioned for future acceleration, but 2025 is still impacted by transitory headwinds. Signal is high, but not at the absolute maximum due to current growth rates.
Mineralis (MLYS) Q2 2025: $324.9M Cash Position Extends Runway Beyond Pivotal Lorundrastat Milestones
Mineralis demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong physician/payer demand signals. While growth is strong and business is transitioning to commercialization, there is not yet evidence of >40% growth or cash flow acceleration (as product is pre-launch), and guidance is good but not exceptional. The signal is high but not at the absolute highest level due to the pre-commercial stage and pending regulatory/competitive catalysts.
AEIS Q2 2025: Data Center Revenue Surges 94% as AI Demand Reshapes Growth Trajectory
AEIS demonstrates a long reinvestment runway (AI/data center), very strong recent growth in a core segment, improving unit economics, and a self-reinforcing business model. Customer value is increasing and the business is clearly in growth mode. However, while growth is robust, forward guidance is not at the highest acceleration, and some exposure to legacy/tariff risks remains. The business is not at the absolute frontier of disruption, but the signal is strong and actionable for investors.
Palo Alto Networks (PANW) Q4 2025: RPO Jumps 24% as Platformization Drives Record Large Deals
Palo Alto Networks demonstrates a long reinvestment runway, record growth in large deals and ARR, improving unit economics, and a self-reinforcing platform model. Customer value is deepening, and the business is a clear growth story with accelerating cash flow. The CyberArk acquisition and AI/identity pivot provide additional runway, but the business is already well-known and widely followed, moderating the signal score. Some guidance is strong but not exceptional (sub-30% growth), and the disruptive potential is present but not entirely unique.
AppFolio (APPF) Q1 2025: 89% AI Adoption Signals Platform Shift, Margin Holds Amid Product Mix Change
AppFolio demonstrates a long reinvestment runway (AI, ecosystem), clear disruptive platform evolution, and strong customer value deepening. AI adoption and ecosystem expansion are major inflections, but while growth is robust, it is not hyper-scale (>40%). Margins are pressured but operational leverage is building. The business is solidly growth-oriented with some exceptional elements, but not at the very highest tier of signal.
Cloudflare (NET) Q2 2025: Large Customer Revenue Jumps to 71%, Powering Strategic Expansion
Cloudflare demonstrates a long reinvestment runway, clear enterprise momentum, improving unit economics, and a disruptive, multiproduct business model. Customer value and platform effects are deepening. However, while growth is robust, it is not yet at the highest acceleration threshold, and cash flow is improving but not rapidly accelerating. The business is solidly in the high-growth category with exceptional optionality, but some aspects (like Act 4 monetization) are still emerging, tempering the signal score slightly.
QuantumScape (QS) Q2 2025: Powerco Expansion Adds $131M, Extends Cash Runway Into 2029
QuantumScape is at a commercialization inflection with a capital-light, high-ROIC licensing model validated by major OEM cash inflows, a long cash runway, and disruptive technology. While some metrics (cash flow ramp, revenue growth) are not yet at full acceleration, the business model, customer funding, and technology progress provide high signal for future growth, though the business is not yet at hypergrowth/exceptional backlog. Risks remain around execution and customer concentration, tempering the highest scores.
NextL (NYXH) Q2 2025: Genio US Launch Accelerates With 74% Revenue Growth and Differentiated Label
NextL is entering a large, underpenetrated US market with a disruptive device and a differentiated label, suggesting a long runway and high optionality. Revenue growth is accelerating sharply (74% y/y), and early account wins plus a scalable launch model are evident. However, the business is still in early commercial phase—cash burn is high, and while growth is strong, there is not yet evidence of 40%+ sustained growth or accelerating cash flow. The business model is disruptive and self-reinforcing, but execution risk and payer adoption timing temper the signal score.
Sphere Entertainment (SPHR) Q3 2025: Sphere Segment Jumps 37% as Wizard of Oz Drives Content Monetization
Sphere Entertainment demonstrates a long reinvestment runway with proprietary technology and global venue ambitions. The rapid success of Oz and strong sponsorship momentum reflect significant business evolution. Unit economics are improving, and the business model is self-reinforcing with recurring revenue potential. Customer value is increasing, and the business is positioned as disruptive in its sector. However, some elements (technology licensing ramp, recurring revenue build-out) are still in early stages, and legacy headwinds persist, tempering the score slightly.
Archer Aviation (ACHR) Q2 2025: Cash Reserves Quadruple as Olympics, Defense, and UAE Programs Accelerate
Archer demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. The Olympics and UAE deals are significant catalysts, but the revenue acceleration is just emerging (not yet >40% growth), and cash flow is not yet ramping. The business is clearly in a transition to high growth, but execution and certification risks temper the signal score.
Jefferson Capital (JCAP) Q2 2025: Collections Surge 85% as Elevated Delinquencies Fuel Portfolio Growth
JCAP shows strong growth, efficiency, and capital allocation discipline, with clear reinvestment runway and sector tailwinds. However, the business is not fundamentally disruptive and guidance does not indicate truly exceptional acceleration, so a few points are docked for signal conservatism.
Chicago Atlantic BDC (LIEN) Q2 2025: $780M Pipeline Surge Signals Lending Tailwind Amid Cannabis Rescheduling Buzz
LIEN exhibits strong signal: a unique lending niche with high returns, a record pipeline, improving unit economics, and a disruptive business model in a structurally underserved market. While growth is robust, some metrics (e.g., cash flow acceleration and near-term revenue/EPS growth) are not at the highest breakout level, justifying slight conservatism in scoring. The business is not widely followed and offers genuine upside, but growth is not at hyper-scaler levels.
Kratos (KTOS) Q2 2025: $13B Pipeline and Poseidon Win Signal Multi-Year Growth Engine
Kratos demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a self-reinforcing position with growing customer value. Backlog and pipeline signal multi-year growth, but near-term growth is high (not hyper-growth), and cash flow is only beginning to accelerate. The business is not yet at 40%+ growth, and some execution risk remains. Still, the signal is strong for a defense upcycle beneficiary with valuation upside.
Airdrill Technologies (AIRJ) Q2 2025: A250 Slashes Dehumidification Energy Use by 80%, Unlocking Industrial Cost Advantage
AIRJ demonstrates a long reinvestment runway, a disruptive and modular business model, and clear improvements in unit economics (80% energy reduction). Recent developments (JV with GE Vernova, pilot launches) are significant, but as revenue is still pre-commercial, growth acceleration is not yet exceptional. Cash flow is not yet accelerating, but the business is transitioning into commercialization with strong signals of future growth. The company is not yet posting 40%+ revenue growth, but the groundwork for a high-growth phase is evident.
LIDR Q2 2025: Contract Wins Triple as Apollo and Optus Accelerate Non-Auto Scale
LIDR demonstrates a long reinvestment runway, disruptive model, and multi-vertical growth, with tripled contract wins and high engagement. Unit economics and customer value are improving, and the NVIDIA partnership is a strong compounding advantage. Near-term revenue growth is modest, so not all signal questions merit top marks, but the business is clearly in an inflection phase with strong upside optionality.
Vital Farms (VTLE) Q3 2025: 37% Revenue Surge Unlocks $2.1B Capacity Path
Vital Farms demonstrates a long reinvestment runway, strong growth, improving unit economics, and a self-reinforcing brand-driven business model. While growth is robust and the business is transitioning to a new phase, the market is not hyper-growth or truly disruptive, and guidance is strong but not exceptional. The business is investable and actionable for fund managers, but not at the highest level of signal for outsized upside.
Alphabet (GOOG) Q2 2025: Cloud Backlog Surges 38% to $106B, Fueling Record AI Investment
Alphabet is a well-known mega-cap, so signal is slightly muted despite strong numbers. There is a long reinvestment runway and clear business model evolution, but the business is already mature and widely followed. Backlog growth and CapEx acceleration are significant, but not unprecedented for Alphabet. The business is transitioning into a new AI-driven phase with robust growth, but not at the disruptive/unknown level that would merit a perfect 20.
Tesla (TSLA) Q2 2025: FSD Adoption Jumps 25% as Robotaxi and AI Drive Strategic Shift
Tesla demonstrates a long reinvestment runway with high ROIC potential (autonomy, energy, AI/robotics). There is a clear inflection in FSD and Robotaxi adoption, signaling a business model evolution. Unit economics are improving with software/recurring revenue growth. The business model is disruptive and self-reinforcing, with customers becoming more valuable over time. However, while growth is strong, some headwinds (tariffs, policy, credit expirations) temper near-term acceleration. The company is not a new discovery, but the inflection and strategic shift are highly relevant for valuation upside.
Palvela (PVLA) Q2 2025: SELVA Phase 3 Enrollment Exceeds Target by 25%, Setting Up Four Major Catalysts
Palvela demonstrates a long reinvestment runway, disruptive platform leverage, improving unit economics, and clear customer value deepening. The business is growth-oriented and capital efficient, with significant upcoming catalysts. However, while growth is strong, it is not yet at the 'exceptional' or >40% annualized level, and cash flow acceleration is moderate given the pre-commercial stage.
InVenture (INV) Q2 2025: Excelsius Bookings Triple Pipeline, Accelerating Data Center Cooling Adoption
The article demonstrates strong signal: Excelsius is scaling rapidly with a large pipeline and bookings inflection, and the business model is disruptive with high reinvestment potential. Unit economics and customer value are improving, and the conglomerate model offers optionality. However, some areas—such as current cash flow acceleration and near-term growth rates—are still in transition, so a perfect score is withheld. The business is not yet at runaway growth or cash machine status but is clearly on a high-growth trajectory.
IMAX (IMAX) Q2 2025: Installations Jump 50% as Global Box Office Share Hits New High
IMAX demonstrates strong growth in installations, margin, and backlog, with evidence of a structural shift in its market. The business model is self-reinforcing and unit economics are improving. However, IMAX is not a new or undiscovered business, and while growth is robust, the reinvestment runway is not unlimited and the business is not disruptive in the purest sense. The signal is high but not at the absolute maximum for a large, well-followed company.
Churchill Downs (CHDN) Q2 2025: NBC Derby Contract Adds $10M EBITDA Catalyst for 2026
CHDN demonstrates a long reinvestment runway with high ROIC through HRM expansion and Derby monetization. There are clear step-change catalysts (NBC contract, venue upgrades) and improving unit economics. The business model is increasingly self-reinforcing via brand, technology, and network effects, though not fully disruptive. Customer value is deepening, and cash flow is accelerating. While growth is strong, it is not above 40% annually, and the business, while high quality, is not a new disruptor but rather a premium incumbent extending its moat.
Solaris Energy Infrastructure (SEI) Q2 2025: Power Solutions EBITDA Jumps 43% as Modular Generation Scales
Solaris shows a long reinvestment runway with high returns, a disruptive business model, and clear mix shift to high-growth, high-margin Power Solutions. While growth is strong and the business is transitioning to a core profit engine, guidance is only for flat to modestly higher EBITDA near-term, and some one-time revenue clouds the run-rate. The business is not yet showing exceptional (30%+) forward growth, so signal is strong but not maximal.
Capsovision (CV) Q2 2025: New Accounts Up 75% as AI Pipeline Accelerates GI Screening Expansion
Capsovision demonstrates a long reinvestment runway with high returns, significant new business momentum (75% account growth), improving unit economics and gross margin stability, and a disruptive, AI-driven business model. The business is transitioning towards growth, but cash flow is not yet accelerating and forward guidance, while positive, is not exceptional (>30% acceleration). Revenue growth is strong but not over 40%, and the business has yet to prove sustained high growth and cash generation.
ABL Q2 2025: Turnover Ratio Surges to 2.3x, Signaling Accelerated Asset Monetization
Abacus demonstrates a long reinvestment runway with high returns on capital, exceptional recent growth, improving unit economics, and a self-reinforcing model. Customer value is rising, and the business is a clear growth story with accelerating cash flow. However, while the business model is semi-disruptive and there is strong growth, the asset management segment's scalability and margin durability remain unproven, and some growth rates (revenue/EPS) are not consistently above 40%. These factors warrant a slightly conservative signal score.
EME Q2 2025: Data Center RPOs Jump 80%, Cementing Multi-Year Visibility
EMCOR demonstrates a long reinvestment runway, improving margins, and a disruptive tilt via data center and healthcare buildouts. Backlog growth is strong but not at hypergrowth levels for all segments. The business is not a household name, but the signal is high given sector trends and operational leverage, though not at the level of a truly exceptional, totally under-the-radar compounder.
Enovix (ENVX) Q2 2025: A1 Battery Spurs 98% Revenue Growth, Smartphone OEM Sampling Signals Inflection
Enovix demonstrates a long reinvestment runway, recent inflection in growth, improving unit economics, and a disruptive, self-reinforcing business model. Customer value and business model disruption are evident. However, while growth is strong and the business is transitioning to commercial scale, some metrics (cash flow, future guidance) are not yet exceptional or accelerating at the highest levels, and revenue growth, while high, is not consistently above 40% yet.
Chimera Therapeutics (KYMR) Q2 2025: $1B Cash Runway Extends Pipeline Acceleration Across Immunology Franchise
Chimera has a long reinvestment runway, disruptive business model, and clear customer value deepening. Recent developments are significant with strong early data and pipeline breadth, but ultimate growth visibility is limited by the pre-commercial stage and pending pivotal data. Cash flow is not yet accelerating, and growth, while promising, is not yet proven at 40%+ rates. The signal is high but not at the absolute maximum due to these uncertainties.
Blaze (BZAI) Q2 2025: $176M Contract Wins Drive Hybrid AI Deployment Shift
Blaze demonstrates a strong reinvestment runway, disruptive business model, and self-reinforcing platform with clear customer value expansion and a large, accelerating pipeline. The business is transitioning into high growth, but near-term margin pressure and execution risk temper the signal. While revenue growth and backlog are robust, cash flow acceleration and 40%+ topline growth are not yet fully visible, warranting a slightly conservative signal score.
Marty Technologies (MRT) Q1 2025: Ride-Hailing Riders Surge 107% as City Expansion Accelerates
Marty Technologies exhibits a long reinvestment runway, rapid growth, improving unit economics, and deepening network effects. The business model is semi-disruptive with lateral opportunities and clear signs of compounding. However, while growth and efficiency are strong, monetization and cash flow acceleration are still emerging, and the business is not yet exceptional in guidance revision or disruptive potential. The signal is high, but not at the absolute maximum due to these factors.
GOMSPACE (HAFN) Q2 2025: 45% Revenue Surge Powers 18-Satellite Win, Capitalizes on Defense Demand
GomSpace exhibits strong revenue growth, improved unit economics, and a disruptive, capital-enabled business model with long runway potential in defense and government. The 18-satellite contract and backlog extension are significant, but future growth, while promising, is not yet at a consistently exceptional level (hence, a 1 for question 6). Cash flow is improving but not yet rapidly accelerating. Overall, the signal is strong but not at the absolute maximum due to execution and backlog conversion risks.
Sequans (SQNS) Q2 2025: Bitcoin Holdings Hit 3,072 as Treasury Strategy Drives New Business Model
Sequans' business model pivot to a Bitcoin treasury strategy is disruptive and provides a long capital deployment runway, with high optionality via IoT and IP monetization. The company’s rapid Bitcoin accumulation, strong IoT pipeline, and licensing deals point to significant business evolution. However, while growth is strong, not all metrics are exceptional or accelerating at maximum levels, and some cash flow improvements are projected rather than realized. The business is now positioned as a growth and optionality story, but not all signals are at the highest threshold.
Ideal Power (IPWR) Q2 2025: B-TRAN Device Cuts Losses 60%, Unlocking Multi-Segment Adoption
The business shows a disruptive model, a long reinvestment runway, and strong early commercial traction, especially with global OEMs and in Asia. B-TRAN's performance and cost advantages position IPWR for outsized growth, but the cash flow ramp and revenue inflection are still emerging. The outlook is strong but not yet at the 'exceptional' level for growth acceleration or cash flow, warranting a slightly conservative signal score.
Customers Bancorp (CUBI) Q2 2025: Cubics Payments Deposits Jump 20% in July, Signaling Digital Asset Tailwind
CUBI demonstrates a strong reinvestment runway, improving unit economics, a self-reinforcing payments network, and deepening customer value. There is a recent 20% jump in digital asset deposits and robust growth, but the business is not yet showing exceptional (30%+) acceleration in all areas. The model is semi-disruptive but not fully so, and growth is strong but not hypergrowth. The business is clearly in a growth phase with accelerating cash flow and high ROIC opportunities.
Ocugen (OCGN) Q2 2025: Operating Expenses Drop 8% as Multiple Gene Therapy Trials Hit Milestones
Ocugen shows a long reinvestment runway with a disruptive gene-agnostic model and multiple late-stage pipeline assets. Partnerships and spinouts provide non-dilutive funding, and regulatory/designation momentum is strong. However, cash flow is not yet accelerating and guidance does not indicate >30% growth, so some signal points are deducted. Still, the business is transitioning to a growth phase with significant optionality and compounding potential.
Reddit (RDDT) Q2 2025: Advertising Revenue Jumps 84% as Product Flywheel Accelerates
Reddit is showing exceptional growth in advertising revenue and user metrics, with improving unit economics, operational leverage, and a self-reinforcing business model. While the growth rate is strong, it is not quite at the highest tier for future guidance, and the business model, while disruptive, faces competitive and execution risks. The runway for reinvestment and cash flow generation is clear, but some elements (international, data licensing) are still emerging.
Mink Therapeutics (INKT) Q2 2025: 30% Burn Reduction Extends Runway as INKT Platform Delivers Durable Responses
Mink has a disruptive, capital-light platform with a long reinvestment runway and improving economics. The externally funded trials and clinical milestones support a growth profile, but some uncertainty remains around the magnitude and durability of future growth and cash flow acceleration. The business is not yet at a 'giant' scale, but the signal is strong.
Kymera Therapeutics (KYMR) Q3 2025: $978M Cash Runway Powers STAT6 and IRF5 Pipeline Milestones
Kymera presents a long reinvestment runway, disruptive business model, and multiple upcoming catalysts. The pipeline is advancing rapidly with significant external validation. However, while growth is strong, it is not yet at the 'exceptional' level for all metrics, and some cash flow and growth rates are still emerging. The business is clearly in the growth phase, with high optionality and upside, though near-term results will depend on pivotal data readouts.
Arrow (AIRO) Q2 2025: Drone Revenue Surges 167% as NATO Demand Fuels Backlog
Arrow demonstrates a long runway with high returns, disruptive business model, and strong backlog growth. However, some caution remains regarding the pace of backlog conversion and cash flow acceleration, keeping a few scores just below the maximum. The business is clearly transitioning into a high-growth phase but still faces execution and regulatory risks.
NEPH (NEPH) Q2 2025: Programmatic Sales Up 40% Two-Year CAGR, Driving Recurring Revenue Strength
NEPH demonstrates a long reinvestment runway, strong recurring revenue growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and the recurring revenue engine is becoming more defensible. While growth is robust and cash flow is accelerating, the business model is semi-disruptive rather than fully transformative, and near-term guidance is not exceptionally raised. Nonetheless, the signal for durable, high-quality compounding is strong.
Exeget (XGN) Q2 2025: Per-Territory Revenue Jumps 50% as Commercial Execution Accelerates
Exeget demonstrates a long reinvestment runway, strong recent growth (per-territory revenue up 50%), improving unit economics, and a self-reinforcing business model through biomarker innovation and field-based sales. Customer value is deepening (higher ASP, greater engagement), and the business model is disruptive in diagnostics. However, while growth is strong, it is not yet at the 40%+ threshold on a company-wide basis, and cash flow is approaching break-even but not yet accelerating. The business is transitioning from foundation to growth, with clear upside but not yet at maximum signal.
Alvotech (ALVO) Q2 2025: Product Revenue Soars 77% as Margin Focus Drives Biosimilar Expansion
Alvotech demonstrates a long reinvestment runway, clear growth acceleration, improving unit economics, and a self-reinforcing business model. Customer value is increasing and the business is transitioning to a product-led, cash-generative model. However, while growth is strong, it is not yet at the most exceptional level across all metrics, and the business model, though disruptive in biosimilars, is not entirely unique. Revenue growth is likely above 20% but not consistently above 40%.
Conexa (KNSA) Q2 2025: ARCALYST Net Sales Raised $35M as Prescriber Base Expands
Conexa demonstrates strong reinvestment potential, commercial momentum, and improving unit economics. ARCALYST’s growth and pipeline prospects are compelling, but while the business is growth-oriented and profitable, it is not a hypergrowth or disruptive platform. The business is investable but not truly exceptional in runway or disruptive potential.
Atlas Energy Solutions (AESI) Q2 2025: Market Share Climbs to 35% as Permian Sand Supply Contracts
Atlas demonstrates a long reinvestment runway, clear market share gains, improving unit economics, and a self-reinforcing integrated model. Customer value is deepening, and the power segment offers diversification. However, while guidance is positive, growth is not yet exceptional/accelerating over 30%, and the business, while high quality, is not fully disruptive or growing at 40%+. The signal is strong, but not at the absolute highest threshold.
Elbit Systems (ESLT) Q2 2025: Backlog Climbs 12% as Europe Drives Double-Digit Growth
Elbit demonstrates a long reinvestment runway, clear growth inflection, improving unit economics, and a self-reinforcing business model, especially in Europe and land systems. Customer value and backlog are increasing, and the business is accelerating cash flow. However, while growth is robust, it is not at the extreme end (>40%) and the business, while strong, is not highly disruptive in the tech sense. The signal is high but not at the absolute maximum due to these factors.
Instacart (CART) Q2 2025: Order Growth Accelerates 17% as AI-Fueled Efficiencies Deepen Competitive Moat
Instacart demonstrates a long reinvestment runway with high ROIC, clear evidence of accelerating growth (orders up 17%), improving unit economics, a self-reinforcing business model, and deepening customer value. While guidance and backlog are strong, growth is not exceptional enough to score top marks on those dimensions. The business model is semi-disruptive and cash flow is accelerating. Revenue growth is solid but not above 40%. Instacart is a growth business, not legacy or merely transitioning.
SES (SES) Q2 2025: Cash Burn Down 51% as Physical AI and ESS Acquisition Reshape Growth Trajectory
SES demonstrates a long reinvestment runway, disruptive platform integration, improving unit economics, and self-reinforcing business model. Customer value is deepening, and the business is transitioning to commercial growth, though not yet at exceptional acceleration. Cash flow is improving but not yet rapidly accelerating, and revenue/EPS growth is above 20% but not above 40%. The company is at an inflection, but not yet a giant, hence some conservatism in scoring.
Corning (GLW) Q2 2025: Optical Sales Up 41% as GenAI and Solar Scale Drive Margin Expansion
Corning demonstrates a strong reinvestment runway, clear business evolution (notably in optical and solar), and improving unit economics. The business is self-reinforcing with deepening customer value and strong cash flow. Growth is robust but not quite at the highest acceleration thresholds, and the business, while innovative, is not fully disruptive. Overall, signal is high but not at the absolute maximum.
GEN (GEN) Q1 2026: MoneyLion Powers 45% Growth, Shifting GEN Into Double-Digit Expansion
GEN is demonstrating a strong growth inflection from the MoneyLion integration, with evidence of a long reinvestment runway, improving unit economics, and a self-reinforcing business model. The business is not entirely disruptive and future growth, while strong, is not yet exceptional on all metrics (e.g., not all segments are growing 40%+), but the overall signal is high and the business is transitioning to a multi-engine growth model with expanding margins and cash flow.
ProCEPT BioRobotics (PRCT) Q2 2025: 640bps Margin Expansion Signals Durable Operating Leverage
PRCT demonstrates a long reinvestment runway with high ROIC potential, significant growth (48% revenue, 64% handpiece unit growth), improving unit economics, and a disruptive, self-reinforcing business model. Customer value is increasing, and the business is transitioning rapidly toward growth and profitability. However, some forward-looking elements (replacement cycle, Hydros uplift) are not yet fully proven, and cash flow is not yet accelerating, warranting a slightly lower score on those axes.
ImmunoPrecise Antibodies (IPA) Q4 2025: BioStrand Margin Hits 90%, Accelerating Platform Shift
IPA is showing a high-margin, high-growth platform inflection, with clear disruptive potential and strong reinvestment opportunity. The business model is self-reinforcing and customer value is deepening. However, AI revenue is still a small portion of the mix and cash flow is not yet accelerating, so a perfect score is not justified. The signal is nonetheless very strong and investment-relevant.
Ramaco Resources (METC) Q2 2025: $1.2B Rare Earth NPV Resets Growth Narrative Amid Coal Price Squeeze
Ramaco demonstrates a long reinvestment runway with the rare earths business (high NPV, IRR, federal support). The rare earth platform is disruptive for the sector, and the business model is self-reinforcing with government and customer engagement. Unit economics are strong in coal and projected for rare earths. However, cash flow is not yet accelerating (coal is under pressure, rare earths are pre-commercial), and growth is not yet at the >40% level, but the trajectory is strong. The company is transitioning to a growth business, but execution and external risks temper the score.
Jamf (JAMF) Q2 2025: Security ARR Jumps 40% as Platform and Channel Strategy Accelerate
Jamf exhibits strong signals: high ARR growth, improving margins, and a platform/channel strategy that increases reinvestment runway. Security ARR’s 40% surge, cross-platform expansion, and channel leverage all point to a business in transition to higher growth and cash flow. However, the overall TAM and business are not entirely unique or disruptive versus large UEM peers, and forward guidance, while strong, does not indicate hyper-growth (>30%).
Expand Energy (EXE) Q2 2025: Synergy Target Raised 50%, Unlocking $500M Cash Flow Upside
Expand Energy demonstrates a strong reinvestment runway, exceptional synergy-driven growth, and improving unit economics. The business model is becoming more self-reinforcing, with deepening customer value and accelerating cash flow. However, while growth is strong, some elements (such as future revenue/EPS trajectory and disruptive potential) are not clearly at the highest possible level, warranting a slightly conservative signal score.
HWM Q3 2025: Commercial Aero Spares Surge 38%, Fueling Margin Expansion and CapEx Ambition
HWM demonstrates a long reinvestment runway at high returns, a material acceleration in spares and backlog, improving unit economics, and a self-reinforcing business model with rising customer value. While the growth outlook is very strong, revenue and EPS are not projected to grow over 40% annually, and the business model is not fully disruptive but semi-disruptive. Cash flow is accelerating and the company is positioned as a growth business, though the signal is slightly below maximum due to the absence of hypergrowth or a fully disruptive model.
Apollo (APO) Q3 2025: Origination Surges 40% as Platform Drives Multi-Channel Growth
Apollo demonstrates a long reinvestment runway, clear business model advantages, and accelerating origination volumes, with improving unit economics and customer value. However, while growth is strong, the business is already well-followed and not likely to deliver the kind of step-change upside that would warrant a perfect signal score. Some guidance and growth rates are exceptional but not outlier (e.g., 20%+ FRE, 10% SRE). The business is not a new disruptor, but it is innovating within its sector.
Dave (DAVE) Q3 2025: Net Monetization Rate Up 32%, Reinforcing Durable Profit Model
Dave demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong customer value expansion. Significant growth is evident, but revenue/eps growth is strong but not at the highest tier. The business is transitioning to a capital-light model with accelerating cash flow and product innovation, supporting a high signal score, though not perfect due to some uncertainties around guidance acceleration and future growth rates.
Ascendis Pharma (ASND) Q1 2025: Yorvipath Drives 230% Revenue Surge, Anchoring Rare Disease Leadership
Ascendis demonstrates a strong reinvestment runway (multiple assets, platform leverage), a disruptive rare disease business model, and exceptional growth in Yorvipath (230% revenue surge, high prescriber/payer traction). Unit economics and customer value are improving, and the business is positioned for further pipeline-driven expansion. However, some signal is tempered by lack of explicit guidance, cost base expansion, and the need to prove sustained launch momentum and operating leverage. The business is not entirely unknown but is still in a pivotal growth phase, justifying a high but not perfect signal score.
Blue Owl (OWL) Q3 2025: Digital Infrastructure Pipeline Tops $100B as Fundraising Accelerates
Blue Owl demonstrates a long reinvestment runway with high returns, a massive pipeline, and strong recurring fee growth. Recent developments (pipeline >$100B, broad fundraising acceleration) are significant but not at the extreme end of hyper-growth. Unit economics and customer value are improving, and the business model is self-reinforcing. The business is a growth leader, but not disruptive in the sense of a new category creator; it is a scaled leader in alternatives. Guidance is strong but not at the level of 30%+ acceleration. Cash flow is robust and accelerating. Revenue growth is likely in the 20-40% range, not >40%. Overall, the signal is very high but not maximal.
ATEC (ATEC) Q3 2025: Operating Margin Expands 1100bps as Spine-Only Focus Accelerates Profitable Growth
ATEC demonstrates a long reinvestment runway, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and the business is transitioning to a cash flow machine. However, while growth is strong, it is not consistently over 40% YoY, and the business model, while differentiated, is not fully disruptive. The signal is high, but not at the absolute maximum.
ATI (ATI) Q1 2025: Jet Engine Revenue Soars 35% as Sole Source Contracts Extend Growth Visibility
ATI's business shows strong strategic positioning, long-term contract visibility, and improving unit economics. While the reinvestment runway and margins are compelling, the growth outlook is robust but not in the hypergrowth category. The business is not highly disruptive, but it is transitioning successfully into a high-quality A&D supplier. Signal is high, but not at the absolute maximum due to the maturity of the sector and absence of exceptional (40%+) growth guidance.
ARGX Q3 2025: Pre-Filled Syringe Drives 20% U.S. Growth, Expands Neurology Leadership
ARGX demonstrates a long reinvestment runway, disruptive growth, and strong operating leverage. PFS adoption and pipeline discipline are strong signals. However, while growth is high, guidance and future growth acceleration are not exceptional enough for top marks across all signal dimensions.
Summit Therapeutics (SMMT) Q1 2025: Harmony 2 OS Hazard Ratio at 0.78 Signals Global Lung Cancer Ambition
Summit Therapeutics demonstrates a long reinvestment runway, disruptive business model, and improving unit economics. The Harmony 2 hazard ratio is a rare and significant signal, but global validation is still pending, tempering the score for future certainty and near-term growth acceleration. Cash flow is not yet accelerating, and revenue growth is not yet at the highest tier, but the business is clearly in growth mode with substantial optionality.
Exact Sciences (EXAS) Q1 2025: Cologuard Plus Drives 40% Reduction in False Positives, Accelerating Screening Adoption
Exact Sciences is showing strong growth signals: new product launch with rapid adoption, improving unit economics, recurring revenue scaling, and margin leverage. However, the business is not entirely disruptive (score reduced for question 7), and while growth is strong, it is not at the hypergrowth threshold for all metrics. Guidance is raised and margin inflection is clear, but some pipeline and payer risks remain.
JD (JD) Q2 2025: Food Delivery Losses Expand to RMB 14.8B as User Growth Surges 40%
JD demonstrates a long reinvestment runway with high returns in core retail, a disruptive model in food delivery, and strong user growth. However, the business is absorbing substantial near-term losses and cash flow is compressed, tempering the signal. Growth is strong but not yet at the exceptional acceleration threshold for some metrics.
Welltower (WELL) Q2 2025: $9.2B Acquisition Pipeline Accelerates Platform Scale and Margin Expansion
Welltower demonstrates a long reinvestment runway, accelerating acquisition pipeline, improving margins, and a self-reinforcing operating model. Customer value and business model strength are evident. However, while growth is strong, it is not at the absolute highest acceleration, and the business, while compounding, is not disruptive in a tech sense. Some upside remains, but it is not an unknown or overlooked story.
Alnylam (ALNY) Q1 2025: TTR Franchise Soars 36% as ATTR-CM Launch Accelerates Access
Alnylam demonstrates a long reinvestment runway, disruptive RNAi platform, and strong commercial momentum with the ATTR-CM launch. Most signal questions score high: double-digit franchise growth, improving unit economics, and expanding customer value. However, guidance for future acceleration is strong but not yet at the 'exceptional' threshold, and cash flow is only moderately accelerating. The business is clearly in a high-growth, transition-to-profitability phase, supporting a high but not perfect signal score.
LUNR Q2 2025: Satellite Vertical Integration Drives $10.1M Revenue Shift, Anchors Deep Space Data Ambitions
LUNR demonstrates a long reinvestment runway with high returns through vertical integration and data services. The business model is disruptive, self-reinforcing, and has improving unit economics. Customers are becoming more valuable, but the immediate growth acceleration is not yet exceptional (guidance is at the low end, with upside possible but not guaranteed). Cash flow is improving, but not yet accelerating. Revenue and EPS growth is likely above 20% but below 40% near term, with the business firmly in growth mode. The strategic pivot and contract pipeline provide strong signal, though not at the very highest level of breakout growth.
Constellation Energy (CEG) Q1 2025: Nuclear Cost Advantage Widens as New Entry Costs Jump 300%
CEG demonstrates a long reinvestment runway, clear cost advantage, and improving unit economics with a self-reinforcing model (nuclear, grid flexibility, Calpine). Customer value is deepening, and the business is positioned for ongoing growth, but not at a hyper-growth (40%+) rate. The model is disruptive for the sector, but not entirely novel. Cash flow and earnings are accelerating, but the business is mature rather than a breakout. Risks around regulatory timing and customer deal flow temper the exceptional signal.
Harmony Biosciences (HRMY) Q3 2025: Patient Adds Rise by 500, Accelerating Blockbuster WAKIX Trajectory
Harmony shows a long reinvestment runway, accelerating patient adds, and improving unit economics. The business model is self-reinforcing with growing customer value, but the future outlook (Q6) is strong but not quite exceptional (growth is high but not over 30%). The model is disruptive for specialty pharma but not the most disruptive in tech terms. Revenue growth is high but not hyper-growth (>40%). Overall, this is a strong, high-signal growth story but not a true outlier.
Roblox (RBLX) Q1 2025: Bookings Up 31% as Genre and Developer Expansion Accelerate Platform Leverage
Roblox demonstrates a long reinvestment runway, broad-based genre and geographic growth, improving unit economics, and clear platform effects. While the business is large and well-followed, the quarter's acceleration and diversification are significant. Some optionality (ads, e-commerce) is still early-stage, and the business is not yet in a hypergrowth phase, but signal is strong and above most peers.
QuinStreet (QNST) Q3 2025: Auto Insurance Up 165%, Margin Levers Broaden as Tariff Uncertainty Looms
QuinStreet demonstrates a strong reinvestment runway, improving unit economics, self-reinforcing business model, and customer value deepening. However, tariff and macro uncertainties temper the outlook, and while growth is robust, it is not yet at the highest acceleration tier. The business is not highly disruptive but is evolving, and cash flow is accelerating. The signal is strong but not at the absolute highest level due to sector and policy risks.
IonQ (IONQ) Q1 2025: R&D Spend Jumps 23% as Quantum Networking Bet Accelerates
IonQ is at a strategic inflection with a long reinvestment runway, disruptive business model, and evidence of improving unit economics and customer value. The quantum networking pivot and recent acquisitions are highly significant, but commercial scaling is still early, and growth, while strong, is not yet at the runaway level. Margins remain pressured and cash flow is not yet accelerating, but the business is clearly in growth mode with high long-term optionality.
Diametica Therapeutics (DMAC) Q2 2025: $30M Capital Infusion Extends Runway to 2027 as Preeclampsia Data Advances
Diametica is pre-commercial but demonstrates a long reinvestment runway, disruptive potential, and strong early clinical signals in a large unmet market (preeclampsia). The $30M capital raise and cash runway to 2027 are rare for a biotech at this stage. Backlog (trial enrollment) is improving, but not yet at a massive acceleration. Cash flow is not yet accelerating (pre-revenue), and growth is projected rather than realized, but the business is clearly a growth story with emerging optionality.
Establishment Labs (ESTA) Q1 2025: U.S. Motiva Sales Exceed $6M, Reinforcing Share Gain Trajectory
Establishment Labs is at a major inflection, with the U.S. Motiva launch driving rapid adoption, premiumization, and visible margin/cash flow leverage. The business model is disruptive with a long runway, improving unit economics, and clear self-reinforcing elements. Growth is strong but not quite at the 40%+ threshold, and while cash flow is improving, it is not yet accelerating. Guidance is conservative, but embedded upside is evident. The company is not yet a giant, but the signal is strong for a high-growth, disruptive medtech story.
Affirm (AFRM) Q4 2025: 0% Loan Volume Doubles as Merchant Adoption Hits 7%
Affirm demonstrates a long reinvestment runway, disruptive business model, and clear improvement in unit economics and customer value. Merchant-funded 0% adoption is doubling, and AI-driven optimization is deepening the moat. However, near-term growth is tempered by the loss of a major partner, so not all signal questions reach the maximum. The business remains growth-oriented with accelerating adoption, but cash flow and revenue growth are not at the very highest tier.
UCL Q2 2025: IoT Monthly Actives Surge 791%, Offsetting Legacy Broadband Drag
UCL demonstrates a long reinvestment runway with high returns via next-gen platforms, and there is a massive recent uptick in IoT MAT (791%). Unit economics and customer value are improving, with a self-reinforcing, disruptive business model. However, cash flow is not yet accelerating (investment phase), and growth guidance is reset lower, so revenue/EPS growth outlook is under 20% for now. The business is firmly in growth transition, but not yet at full acceleration, warranting a conservative deduction.
Salino Therapeutics (SLNO) Q1 2025: 268 Start Forms Signal Early Vicat XR Launch Momentum
SLNO's launch of Vicat XR as a first-in-class therapy for PWS hyperphagia signals a disruptive, high-growth opportunity with a long reinvestment runway and strong early demand. The business model is self-reinforcing with first-mover and regulatory advantages, and customer value is poised to deepen with broadening prescriber and patient uptake. However, revenue growth is not yet proven, and payer coverage lags, tempering the acceleration signal. The business is clearly transitioning to growth, but with execution risk and some uncertainty around the pace of revenue and cash flow realization.
InterDigital (IDCC) Q3 2025: Smartphone ARR Jumps 65%, AI Video Bet Expands IP Reach
InterDigital demonstrates strong recurring revenue growth, high returns on capital, and a long reinvestment runway in adjacent verticals. Smartphone licensing is nearing saturation, but new growth engines in AI video and CE/IoT are emerging. Unit economics and margins are improving, and the business model is self-reinforcing through IP and standards. However, growth rates in the coming periods are likely to moderate as smartphone licensing matures, and some new segments are still early-stage. The business is a high-quality compounder but not at the level of a hypergrowth disruptor.
Vir Biotechnology (VIR) Q1 2025: $1B Cash Runway Extends Program Push Through 2027
Vir has a long reinvestment runway with a $1B cash position and multiple late-stage and platform assets, supporting a high score. There are significant business evolutions (Phase 3 trial, platform progress), but not at a hyper-growth rate (>40%), so some questions are scored conservatively. Unit economics and business model are improving and self-reinforcing, with rare disease and oncology focus. Customer value (market size, pricing power) is increasing, but the business is not yet accelerating at an exceptional pace. The model is disruptive, but cash flow is not yet accelerating (development stage). Revenue and EPS growth is not above 40% yet, so scored accordingly. Overall, the article signals a high-potential but not yet explosive growth story.
USA Rare Earth (USAR) Q2 2025: 300-Ton Magnet Pipeline Signals Demand Surge as CapEx Ramps
USAR demonstrates a long reinvestment runway, disruptive vertically integrated model, improving unit economics, and strong customer pipeline. However, while growth is strong, it is not yet exceptional or proven at 30%+ rates, and cash flow is not yet accelerating (still in investment phase). The business is clearly transitioning to growth, but some risks remain in execution and backlog conversion.
Schrodinger (SDGR) Q1 2025: Software Revenue Jumps 46% as Predictive Tox Beta Nears Launch
Schrodinger demonstrates a long reinvestment runway with high returns, strong enterprise adoption, and disruptive potential through predictive tox. Growth is robust but not yet at the 'exceptional' level for future guidance (hence 1 for Q6), and cash flow is improving but not yet accelerating (Q8). Revenue/EPS growth is strong but not over 40% (Q9). The business is in clear growth mode with disruptive elements and self-reinforcing model.
Doximity (DOCS) Q4 2025: Point-of-Care Workflow Grows 100% as Integrated Programs Expand Share
Doximity demonstrates a strong reinvestment runway, rapidly scaling new modules, improving unit economics, and deepening client engagement. The business model is self-reinforcing with clear network effects and switching costs. AI and workflow modules are driving growth, but overall company guidance for FY26 is for 10% revenue growth, which tempers the highest marks for future growth and exceptional acceleration. Still, the signal is high due to the platform transition, margin expansion, and large untapped market.
Veeva Systems (VEEV) Q2 2026: Vault CRM Wins Climb to 9 Top-20 Pharma, Unlocking Commercial Cloud Runway
Veeva demonstrates a long reinvestment runway, disruptive business model, and clear self-reinforcing advantages with Vault CRM adoption among top pharma. There is strong evidence of customer value deepening and a major inflection point post-IQVIA settlement. However, while growth is strong, not all segments are accelerating at 40%+, and AI monetization is still a long-tail opportunity, tempering the highest possible scores in some categories.
ARS Pharmaceuticals (SPRY) Q2 2025: NEFI Scripts Jump 180% as DTC and Pediatric Launches Expand Reach
ARS Pharmaceuticals shows a long runway with disruptive potential, a huge sequential script uptick, improving unit economics, and a self-reinforcing model. Customer value is increasing, and the business is clearly in a growth phase. However, gross-to-net normalization and SG&A ramp temper near-term cash flow acceleration, and guidance does not imply >30% growth going forward. The business is highly investable but not at the very top tier of signal due to these moderating factors.
Praxis (PRAX) Q2 2025: $411M Cash Extends Runway, Four Registration Programs Set for 2025
Praxis demonstrates a long reinvestment runway with four late-stage programs and strong capital allocation to high-ROIC opportunities. Recent developments include a major uptick in pipeline activity and patient recruitment. Unit economics and business model self-reinforcement are evident through decentralized trial designs and rapid enrollment. Customer value is deepening with high patient engagement. While growth is strong, acceleration is not yet at the highest tier. The business model is disruptive within CNS drug development. Cash flow is improving, but not yet at a full acceleration phase. Revenue/EPS growth is likely above 20% but not over 40%. Praxis is a clear growth business, not legacy or merely transitioning.
ServiceNow (SPCE) Q1 2025: CRM and Industry Workflows Surge to 34% of Mix, Diversifying Growth Engines
ServiceNow demonstrates a long reinvestment runway, strong growth in new segments (CRM/industry workflows), and improving unit economics with AI. The business model is self-reinforcing, customers are becoming more valuable, and cash flow is accelerating. Growth is robust but not yet at a hypergrowth (40%+) level, and the business, while still growing, is not highly disruptive or unknown. The signal is strong but not at the absolute maximum due to the company's scale and maturity.
Kratos (KTOS) Q1 2025: $12.6B Pipeline and Hypersonics Set Stage for Double-Digit Growth
Kratos demonstrates a long reinvestment runway with high ROIC opportunities (hypersonics, propulsion, C5ISR), and is benefiting from significant pipeline expansion and backlog growth. Unit economics are improving with scale, and the business model is becoming increasingly self-reinforcing through sole-source wins and customer-funded development. Customer value is deepening (book-to-bill >1, recurring orders). The growth outlook is strong but not yet exceptional (guidance for ~10% organic growth), and while disruptive, the cash flow inflection is not yet fully realized. The business is transitioning from niche to growth, but some elements (tactical drone inflection, full contract repricing) remain potential rather than realized.
Madrigal Pharmaceuticals (MDGL) Q1 2025: 17,000+ Patients on ResDifera Signals Durable Specialty Launch Trajectory
Madrigal demonstrates a long reinvestment runway with high returns, and the ResDifera launch shows significant business evolution (patient and prescriber growth, strong payer access). Unit economics are improving, and the business model is self-reinforcing through specialty pharma dynamics. Customer value is deepening with high repeat rates. While growth is strong, it is not exceptional or accelerating at >30%, and the business model, while robust, is not fundamentally disruptive. Cash flow is accelerating, and the business is firmly in the growth phase, but revenue/EPS growth rates are likely under 40% annually. Overall, the signal is strong but not at the absolute highest level for disruption or growth.
Joby Aviation (JOBY) Q1 2025: Certification Progress Accelerates 12 Points, Dubai Launch Prepares for 2026
Joby presents a strong signal profile: long reinvestment runway, disruptive model, improving unit economics, and deepening customer value. Certification and manufacturing progress support a growth narrative, though not all elements (such as cash flow and near-term acceleration) are at the highest level yet. The business is not fully de-risked, but signal is very high for the sector.
Nexen (NEXN) Q2 2025: Data Product Revenue Jumps 76% as Platform Strategy Deepens
Nexen demonstrates a strong platform transition with a long reinvestment runway, disruptive business model, and improving unit economics. The 76% growth in data products, rapid AI adoption, and exclusive partnerships are highly positive. However, CTV growth is currently muted and cash flow acceleration is not yet exceptional, tempering the overall signal.
Twist Bioscience (TWST) Q2 2025: Atlas Spinout Unlocks $155M for DNA Storage, Accelerates Path to Profitability
Twist demonstrates a long reinvestment runway, disruptive business model, and improving unit economics. The Atlas spinout is a significant development, but growth guidance is 20% (not >40%), and cash flow is improving but not yet accelerating. The business is solidly growth-oriented with platform expansion, but not all signal criteria hit the highest bar.
Remitly (RELY) Q1 2025: High-Value Send Volume Jumps 45%, Expanding Profit Flywheel
Remitly demonstrates a long reinvestment runway, rapid growth in high-value segments, improving unit economics, and a self-reinforcing digital platform. While the business is growing quickly and showing signs of compounding advantages, the growth outlook for the next quarters is strong but not at the most exceptional level (guidance for 25-26% revenue growth). Some elements (disruption, future acceleration) are present but not at the highest possible signal, as the business is already well-known and the upside, while attractive, is not explosive.
Robinhood (HOOD) Q1 2025: Gold Subscribers Jump 100%, Active Trader Platform Drives Revenue Diversification
Robinhood is showing strong signals of a platform with a long reinvestment runway, rapidly diversifying business model, and improving unit economics. There is evidence of recurring revenue scaling, high-value customer acquisition, and operational leverage. However, while growth is robust, it is not yet at the truly exceptional acceleration threshold (>30-40%) for all segments, and there remain execution and regulatory risks. The business is disruptive with some lateral opportunities, but not at the very highest tier of signal due to the competitive and cyclical nature of the sector.
Talkspace (TALK) Q3 2025: Payer Revenue Jumps 42% as AI-Driven Engagement and Network Expansion Accelerate
Talkspace demonstrates a long reinvestment runway with payer channel expansion, disruptive AI-driven engagement, and improving unit economics. There is strong evidence of business model evolution and high customer value, but the growth, while robust, is not at the most exceptional level (over 40% company-wide). Cash flow is improving but not yet accelerating dramatically. Risks remain in Medicare ramp and margin trade-offs.
ACV Auctions (ACVA) Q1 2025: Marketplace Revenue Up 25% as AI Product Suite Expands Dealer Share
ACV demonstrates a strong reinvestment runway, disruptive AI-enabled business model, and improving unit economics. Margin and revenue growth are robust, but not quite at the most exceptional acceleration levels. The business is clearly a growth story, though not at the very highest tier of signal due to the lack of a >40% revenue/EPS growth rate and only moderate evidence of truly exceptional future guidance.
Garden Health (GH) Q1 2025: Oncology Volume Surges 25% as Reveal and SHIELD Turn Gross Margin Positive
Garden Health demonstrates a long reinvestment runway (margin inflection, commercial investment), double-digit growth, improving unit economics, and a disruptive, self-reinforcing business model. Customer value is deepening, and the business is firmly in growth mode with strong guidance. However, while growth is robust, it is not yet at the exceptional acceleration threshold (>30%+), and cash flow is not yet accelerating, keeping the score just below maximum.
Carvana (CVNA) Q1 2025: Retail Units Surge 46%, Unlocking Path to 3M Sales Ambition
Carvana demonstrates a long reinvestment runway, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening and the business is becoming a cash flow machine. However, while revenue growth is strong, it is not consistently above 40%, and the business model, while disruptive, faces execution and macro risks. The future outlook is strong but not yet exceptional, so some scores are capped.
BioCryst (BCRX) Q2 2025: Orladeyo Surges 45% as U.S. Prescriber Base Expands
BioCryst is showing strong growth and margin leverage, with Orladeyo delivering 45% revenue growth and expanding prescriber base, but the business is not entirely disruptive nor is there clear evidence of >40% sustained growth or a truly exceptional future (pipeline readouts are upcoming but not yet de-risked). The business is a strong growth story with good reinvestment optionality and operational leverage, but not a category-defining disruptor.
Vertiv (VRT) Q1 2025: Backlog Surges $1.6B as AI Data Center Demand Drives 18% Growth Guidance
Vertiv demonstrates a long reinvestment runway with high returns, a massive backlog surge, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and the business is firmly in a growth phase. However, while growth is robust and guidance is raised, the acceleration is notable but not truly exceptional (not over 30%+), and the business model, while benefiting from secular AI tailwinds, is not fundamentally disruptive in the way of a new platform or network. Revenue growth is strong but not hypergrowth (>40%).
Perma-Fix Environmental (PESI) Q1 2025: Waste Backlog Surges 30% as Hanford and PFAS Catalysts Build
Perma-Fix is at a strategic inflection with a 30% backlog surge, clear federal and PFAS runway, and improving unit economics. The business model is disruptive in a regulated space, with high customer value potential. However, the growth acceleration is strong but not yet at the most exceptional level, and cash flow is only beginning to ramp. Still, the signal is very high for a small-cap in a niche sector.
Marex (MRX) Q4 2024: 28% Revenue Growth Signals Market Share Acceleration
Marex demonstrates a strong reinvestment runway, clear market share acceleration, improving unit economics, and a self-reinforcing, diversified business model. Customer value is deepening, and the business is growing at a high rate, though not quite at the highest acceleration threshold for all metrics. The model is semi-disruptive but not a pure disruptor, and cash flow is accelerating. The business is firmly in growth mode, but not all metrics reach the highest bar for exceptional signal.
Nova (NVMI) Q2 2025: Advanced Packaging Revenue Jumps 31% as Metrology Demand Accelerates
Nova demonstrates a long reinvestment runway (GAA, advanced packaging), recent significant growth (40% YoY revenue, 31% service revenue), improving margins, and a self-reinforcing model (recurring revenue, diversified customers). Customer value is increasing and cash flow is accelerating. Guidance is strong but not quite 'exceptional' (hence 1 for Q6 and Q9), and while the business is disruptive in its niche, it's not a platform-level disruptor (Q7=1). Overall, signal is very strong but not quite at the absolute maximum.
Permian Resources (PR) Q1 2025: $608M New Mexico Deal Adds 100+ Low-Cost Locations, Bolsters Downturn Playbook
Permian Resources demonstrates a long reinvestment runway with high returns, significant recent acquisition, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and cash flow is accelerating. While guidance is improved and the business remains growth-oriented, the pace does not suggest exceptional (30%+) acceleration, and the model, while advantaged, is not fully disruptive. The signal is strong but not at the absolute highest level for a truly exceptional or undiscovered growth story.
CCEC (CCEC) Q1 2025: Contracted Backlog Rises to $3.1B as LNG Charter Visibility Extends
CCEC demonstrates a long reinvestment runway with clear capital redeployment at high returns, strong backlog growth, and improving unit economics. The business model is self-reinforcing with increasing customer value and a transition to a higher-margin segment. However, while growth is robust and the business is transitioning toward high growth, the guidance does not suggest a near-term 40%+ revenue surge, and the business, while strategic, is not disruptive at a platform level. The signal is strong but not at the absolute highest tier.
InVenture (INV) Q1 2025: Excelsius Lead Generation Surges 300% as AI Data Center Demand Accelerates
Excelsius is positioned at the center of a major inflection with clear reinvestment runway, disruptive model, and rapid lead growth. Unit economics and customer value are improving, and the business is transitioning to growth. However, revenue and cash flow acceleration are expected but not yet realized, and while growth is strong, the evidence for >40% revenue/eps growth is not yet concrete, meriting a conservative approach.
CleanSpark (CLSK) Q2 2025: Treasury Surges Past 12,000 BTC as Margin Discipline Offsets Volatility
CleanSpark demonstrates a long reinvestment runway, improving unit economics, self-reinforcing business model, and increasing customer value. The business is not fully disruptive, but semi-disruptive within its sector. Growth is strong but not consistently above 40% YoY, and while guidance is optimistic, it stops short of exceptional acceleration. The company is clearly transitioning into a growth business with accelerating cash flow and sector leadership, but the overall opportunity, while attractive, is not unprecedented.
Applied Optoelectronics (AAOI) Q1 2025: CATV Revenue Jumps 6x as U.S. Production Ramps for 800G
AOI demonstrates a long reinvestment runway with high returns, a significant inflection in CATV revenue, and improving unit economics as scale increases. The business model is increasingly self-reinforcing with domestic manufacturing and automation, and customer value is deepening. The future outlook is strong but not yet at exceptional acceleration (guidance is solid but not >30% growth). The business is semi-disruptive, leveraging supply chain and tariff advantages. Cash flow is accelerating, but growth rates are not consistently >40%. AOI is transitioning into a growth business, but customer concentration and execution risks temper the maximum signal score.
Microsoft (MSFT) Q1 2026: Commercial RPO Jumps 51% as AI Demand Drives 80% Capacity Expansion
Microsoft is a mature, widely-followed business, but the article demonstrates a strong reinvestment runway, major developments (51% RPO growth, 80% capacity expansion), and improving unit economics. The business is not disruptive in the classic sense but is leveraging its scale and ecosystem. Growth is strong but not hyper-growth (>40%). Signal is high, but the company's size and visibility temper the upside surprise.
Cerebell (CBLL) Q1 2025: Gross Margin Holds at 88% Despite Tariff Headwinds
Cerebell demonstrates a long reinvestment runway, disruptive business model, and rapid revenue growth (42% YoY), with strong recurring margin and expanding TAM (pediatrics). However, growth guidance is not yet exceptional (>30%), and while cash flow is supported, it is not yet accelerating. The business is early stage but shows strong compounding characteristics, justifying a high but not perfect signal score.
Insulet (PODD) Q1 2025: Omnipod 5 Drives 30% Revenue Growth as Type 2 Adoption Rises
Insulet demonstrates a long reinvestment runway, strong recent growth, improving unit economics, and a self-reinforcing business model. Customer value is rising, and the business is positioned for further cash flow acceleration. Growth rates are strong but not consistently above the 40% threshold, and while the Type 2 and international opportunities are disruptive, the business is not an undiscovered compounder. The future outlook is positive but not yet exceptional (i.e., not >30% sustained acceleration). Overall, signal is high but not perfect due to the company’s size and visibility.
BridgeBio (BBIO) Q3 2025: Dual Phase 3 Wins Drive 70%+ Technical Success, Expanding Rare Disease Pipeline
BridgeBio demonstrates a long reinvestment runway, disruptive R&D model, improving unit economics, and clear multi-product expansion. The dual Phase 3 wins and pipeline momentum are significant, but the business is not yet showing >40% growth or exceptional backlog inflection, and cash flow is not yet accelerating at a high level. The signal is strong for a biotech, but not at the highest possible level for growth and cash generation.
QuantumScape (QS) Q1 2025: COBRA Separator Accelerates, Unlocking 10x Productivity Shift
QuantumScape demonstrates a long reinvestment runway and disruptive business model, with the COBRA separator process representing a step-change in productivity and the licensing model providing leverage. Ecosystem partnerships and customer validation point to deepening network effects and customer value. However, while growth prospects are strong, the lack of full revenue visibility and the early stage of commercialization temper the signal. Cash flow is not yet accelerating, and annualized growth is not yet 40%+, but the company is transitioning into a high-growth phase with strong competitive positioning.
Tiendas 3B (TBBB) Q2 2025: 142 New Stores Drive 38% Sales Surge, Margin Tradeoff Deepens
Tiendas 3B demonstrates a long reinvestment runway, accelerating store openings, improving unit economics, and a self-reinforcing business model. Customer value and cash generation are increasing. However, while growth is high, it is not at an exceptional (40%+) level in all KPIs, and the business model, while disruptive in its market, is not globally unique. Guidance is confident but not dramatically raised. Overall, the signal is strong but not at the absolute maximum.
Profound Medical (PROF) Q1 2025: Tulsa Revenue Jumps 82% as CAPTEN Trial Drives Adoption Pipeline
Profound Medical demonstrates strong signals: a disruptive business model, high growth trajectory, expanding margins, and a long reinvestment runway. The CAPTEN trial and reimbursement tailwinds are significant catalysts. However, growth—while high—is expected to be back-end loaded and not yet at the exceptional acceleration threshold for the highest scores on cash flow and future outlook. The business is still in transition, with some risks around execution and pipeline conversion.
BitDigital (BTBT) Q1 2025: Cloud Services Jump 84% as Mining Shrinks to 31% of Revenue
BitDigital is executing a material business model inflection, with cloud and data center now dominant and mining fading. Margins are expanding, and the company is targeting large, multi-year contracts, indicating a long reinvestment runway and disruptive model. However, while growth is strong, guidance does not indicate >30% acceleration, and cash flow is not yet accelerating. Revenue growth is likely in the 20-40% range, not over 40%. The business is not yet a giant but is positioned for high growth if execution continues.
Mirim (MIRM) Q3 2025: Livmarli Drives 47% Revenue Growth as Pipeline Milestones Approach
Mirim displays a long reinvestment runway, strong unit economics, and a self-reinforcing rare disease platform. Growth is robust but not at hyper-scaler levels, and some pipeline milestones are still pending. The business model is innovative within specialty pharma but not fully disruptive. Cash flow is positive and accelerating, but forward growth is guided to be strong rather than explosive. Overall, the signal is high but not at the absolute apex due to some maturity and the need for future pipeline readouts.
Graham (GHM) Q4 2025: Backlog Hits $412M, Defense Mix Anchors Multi-Year Growth Path
Graham shows a long reinvestment runway with high-ROIC projects, a record backlog, and a defense mix providing multi-year stability. Unit economics are improving, and automation is deepening advantages. However, while growth is robust, it is not at a hyper-growth (40%+) level, and the business is not fundamentally disruptive or likely to rapidly accelerate. Still, the signal is strong for a high-quality, compounding industrial.
EDAP (EDAP) Q2 2025: HIFU Revenue Surges 77% as Focal One Adoption Hits Inflection
EDAP demonstrates a long reinvestment runway, disruptive business model, and strong unit economics with accelerating HIFU adoption. While growth is robust and the outlook is raised, the signal is slightly tempered by current cash burn and only moderate acceleration in certain metrics (e.g., U.S. procedure growth slowed this quarter). However, the strategic inflection, pipeline depth, and platform leverage provide high signal for future upside.
Grindr (GRND) Q1 2025: "Right Now" Drives 25% Growth as AI and Intent-Based Features Scale
Grindr demonstrates a long reinvestment runway, accelerating growth, improving unit economics, and a self-reinforcing model with deepening user value. AI-native features and intent-based monetization are disruptive, and the business is transitioning toward a cash flow machine. However, while growth is strong, it is not yet at the exceptional acceleration threshold (>30-40%+), and new verticals like Woodwork are still early-stage. The business is clearly in a high-growth phase, but some optionality and international expansion remain to be proven.
Toast (TOST) Q1 2025: Recurring Gross Profit Streams Jump 37% as Platform Expansion Accelerates
Toast demonstrates a long reinvestment runway, strong recent growth, improving unit economics, and a compounding business model. Customer value is increasing, and the business is transitioning to a cash flow machine. However, guidance implies growth moderates below the 40% threshold, and AI/vertical expansion, while promising, are still emerging rather than fully proven. The company is growth-oriented but not at the very highest signal level for disruptive/exceptional acceleration.
Onto Innovation (ONTO) Q2 2025: SemiLab Acquisition Adds $130M Revenue, Accelerates Margin Expansion Path
ONTO demonstrates a strong reinvestment runway, immediate margin expansion, and a disruptive business model with accelerating cash flow. There is clear evidence of compounding business advantages, improving unit economics, and deepening customer value. While growth is robust, it is not at the extreme acceleration level for every metric, and the business, while high-quality, is not completely under-the-radar or unknown. The signal is very strong but not at the absolute maximum for upside surprise.
EXLS Q2 2025: Data & AI Revenue Surges 17%, Now 54% of Mix—Margin Leverage in Focus
EXLS demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a shift to AI-led revenue with a strong moat. While growth is robust, it is not yet at the highest acceleration levels (over 30-40%+), and cash flow is improving but not yet accelerating at the highest tier. Still, the business is clearly in a high-signal, growth phase with defensible advantages.
Arrowhead (ARWR) Q3 2025: $230M New Milestones, Four Phase III Readouts Drive Commercial Inflection
Arrowhead shows a long reinvestment runway, disruptive platform, and strong pipeline with multiple late-stage assets and commercial optionality. Unit economics are improving as the business transitions to commercial stage, and the business model is self-reinforcing through partnerships and out-licensing. Some signal is tempered by the lack of clear >40% revenue/earnings growth and the fact that near-term cash flow is still milestone-dependent, but the outlook is robust and the business is not yet mature.
Serve Robotics (SERV) Q1 2025: Delivery Volume Jumps 75% as Fleet Expansion Accelerates
Serve Robotics demonstrates a long reinvestment runway, disruptive model, and strong recent growth (75%+ delivery volume, 150% revenue growth). Unit economics and customer value are improving, and the business is transitioning from pilot to scaled operations with early platform monetization. However, platform revenue is still nascent, cash flow is not yet accelerating, and near-term growth guidance is strong but not exceptional (>30% but not >40% QoQ). Execution risk and the early stage of platform revenues temper the overall signal, but the business is clearly in a high-growth, inflecting phase.
Aurora (AUR) Q1 2025: Driverless Trucks Log 4,000+ Miles, Unlocking Commercial Expansion Roadmap
Aurora demonstrates a long reinvestment runway, clear disruptive business model, and strong competitive moats via OEM/Tier 1 partnerships. The business is at an inflection point with driverless commercial operations and early revenue growth, but scale and profitability are still emerging. Guidance is for moderate revenue growth in 2025, with exceptional growth possible but not yet fully proven. Some elements (cash flow, revenue/EPS acceleration) are not yet at the highest signal, so a conservative deduction is warranted.
Arlo (ARLO) Q1 2025: Paid Subscribers Climb 51%, Accelerating Services-First Model Momentum
Arlo demonstrates a strong SaaS transformation with a long reinvestment runway, accelerating subscriber growth, improving unit economics, and a self-reinforcing business model. ARPU and recurring revenue are rising rapidly, and the business model is semi-disruptive with potential for further upside. However, growth is not yet exceptional (not over 30-40% across all metrics), and while the cash flow is accelerating, revenue/EPS growth is in the 20-40% range, not above 40%. The business is solidly in growth mode, but not at the highest possible signal tier.
Xenon Pharmaceuticals (XENE) Q3 2025: XTOL2 Enrollment Exceeds Target With 380 Patients, Elevating Phase 3 Confidence
Xenon demonstrates a strong reinvestment runway and disruptive model, with multiple late-stage programs and clear evidence of growth. Over-enrollment in a pivotal trial, pipeline breadth, and commercial readiness all signal high upside. However, while growth is significant, guidance does not clearly point to 40%+ acceleration, and cash flow is not yet accelerating. Overall, the signal is strong but not maximal.
Viking Therapeutics (VKTX) Q3 2025: R&D Spend Quadruples as Phase III Obesity Enrollment Accelerates
Viking Therapeutics demonstrates a long reinvestment runway, disruptive dual-modality strategy, and clear improvement in unit economics as it scales. The business is executing on multiple high-growth opportunities, with evidence of strong clinical momentum and optionality. However, while growth is strong, it is not yet at the exceptional acceleration threshold for a perfect score, and cash flow is not yet accelerating, tempering the signal score slightly.
Prairie Operating (PROP) Q2 2025: Production Surges 540% as M&A and Cost Discipline Reshape Trajectory
Prairie Operating demonstrates a long reinvestment runway, a transformative growth inflection, and rapidly improving unit economics. The business is not fully self-reinforcing (network effects are modest), and while customer value is improving, it is not exceptional. The business model is semi-disruptive for the sector, and recent results show accelerating growth and cash flow. The signal is strong, but this is not a new or unknown business, and some elements (e.g., moat depth) are moderate.
Wingstop (WING) Q2 2025: Net New Units Up 20%, Smart Kitchen Rollout Drives Operational Step-Change
Wingstop demonstrates a long reinvestment runway (record unit growth, high franchisee returns), clear operational leverage (Smart Kitchen), improving unit economics, and a self-reinforcing, asset-light business model. Digital and loyalty initiatives provide additional optionality. However, near-term comp softness and macro risks temper the outlook slightly, and while growth is strong, it is not accelerating at the 40%+ level across all metrics. The model is disruptive for QSR, but the company is already well-followed and not an undiscovered gem, so signal is high but not perfect.
Ouster (OUST) Q1 2025: Software-Attached Deals Drive 1,200bp Margin Expansion Amid Portfolio Overhaul
Ouster demonstrates a long reinvestment runway with high returns on capital, significant recent margin expansion, and improving unit economics as software mix rises. The business model is increasingly self-reinforcing (software/hardware integration, AI, sticky customer relationships). Customers are becoming more valuable, and the business is disruptive in its segment. However, while growth is robust (30-50% target), it is not yet at the exceptional acceleration threshold (>40%+), and cash flow is only moderately accelerating. The business is a clear growth story, but not quite at the highest possible signal tier.
Tower Semiconductor (TSEM) Q2 2025: RF Infrastructure Jumps to 25% of Revenue, Accelerating Optical Growth
Tower is in a growth phase with a long reinvestment runway, improving unit economics, and self-reinforcing business model via specialty platforms. The RF infrastructure/optical inflection, segment mix shift, and capacity ramp are major business evolutions. Customer value is increasing and the business is transitioning to higher-margin, higher-growth segments. Guidance calls for sequential growth, but not at a rate to warrant full marks for exceptional acceleration. The business is semi-disruptive but not a pure disruptor, and revenue growth is strong but not consistently above 40%. The business is clearly a growth story, but not at the most extreme end of signal.
MARA Q1 2025: Owned Capacity Surges to 70% as Off-Grid Mining Redefines Cost Curve
MARA demonstrates a long reinvestment runway with high returns through off-grid vertical integration and technology expansion. There are significant recent developments (70% owned capacity, off-grid cost curve, AI pilots), and unit economics are improving. The business model is self-reinforcing, and customer value (via cost structure and tech optionality) is deepening. While future growth is strong, guidance is not exceptional enough for top marks. The business is disruptive, with some cash flow acceleration, but not at the highest threshold. Revenue growth is strong but not over 40% annually. MARA is a clear growth business, though not in the absolute top percentile for signal.
Advanced Energy (AEIS) Q1 2025: Data Center Revenue Doubles, New Product Ramps Signal Multi-Year Margin Upside
AEIS demonstrates a strong reinvestment runway, recent significant growth in key segments (data center revenue up 130% YoY), and improving unit economics (gross margin up 280 bps YoY). The business model shows self-reinforcing characteristics through design win flywheel and digital channel expansion. Customer value is increasing, and the business is transitioning to higher-margin, higher-growth markets, though not at an exceptional, hyper-growth level (most growth rates are strong but not consistently above 40%). The outlook is robust but not extraordinary, and while the model is semi-disruptive, it's not entirely transformative.
Ensign Group (ENSG) Q1 2025: Occupancy Hits 83% as 47 New Facilities Expand Organic Growth Trajectory
Ensign demonstrates a long reinvestment runway, strong organic and inorganic growth, improving unit economics, and a self-reinforcing cluster model. Customer value metrics (occupancy, skilled mix) are rising, and the business is a clear growth story with accelerating cash flow. However, while guidance and backlog are strong, they are not at the 'exceptional' level for maximum scores. The model is semi-disruptive for healthcare, but not truly disruptive. Revenue and EPS growth are strong but not consistently over 40%.
SoundHound (SOUN) Q1 2025: Restaurant Locations Surge 10X, Diversification Accelerates AI Flywheel
SoundHound exhibits a long reinvestment runway, disruptive business model, and clear improvements in unit economics and customer value. There is evidence of accelerating growth and vertical diversification, but cash flow is not yet rapidly accelerating and guidance, while strong, is not exceptional enough for a perfect score.
Axon (AXON) Q1 2025: Software and Services Surge 39%, Accelerating Cloud-Led Margin Expansion
Axon demonstrates a long reinvestment runway, accelerating software/services growth, and clear recurring revenue leverage. The business model is self-reinforcing, with improving unit economics and customer value metrics. While growth is strong and guidance is raised, it is not quite at the 'exceptional' (30%+ acceleration) level in the near term, and the model—while disruptive for public safety—is not entirely unique in the broader SaaS landscape. Still, signal is very high for a large-cap name.
TTI Q1 2025: Deepwater Projects Drive 60% Surge in Offshore Operations, Automation Lifts Margins
TTI demonstrates a long reinvestment runway, accelerating offshore/deepwater growth, improving margins from automation, and expanding into secular growth areas like water reuse and energy storage. While the business is not yet at hypergrowth (hence a few 1s), the model is self-reinforcing, cash flow is improving, and the outlook is robust. However, the business is not a household name nor is it completely unique, so the signal is strong but not at the absolute maximum.
Amprius Technologies (AMPX) Q1 2025: $34.5M Backlog Surge Signals Commercial Inflection
Amprius demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and strong customer value deepening. The backlog surge and customer diversification signal a commercial inflection, but while growth is strong, it is not yet at an exceptional (30%+) acceleration. Cash flow is improving but not yet accelerating at a high level, and revenue growth, while robust, is not clearly above 40% annually. The business is transitioning to growth, but not yet at the highest signal tier.
Ionis (IONS) Q3 2025: Tringolza Sales Jump 70% as Blockbuster Launches Take Shape
Ionis demonstrates a long reinvestment runway, recent significant growth in Tringolza, improving unit economics, and a disruptive business model. Customer value is deepening, and the company is transitioning to a multi-product commercial entity. However, while growth is strong, not all guidance points to 40%+ acceleration, and cash flow is not yet accelerating at a high rate.
Sequans (SQNS) Q2 2025: 3,072 Bitcoin Acquired, Pivoting Treasury Model and IoT Monetization
Sequans demonstrates a long reinvestment runway, disruptive capital allocation, and improving unit economics with robust IoT growth and high-margin wins. While the Bitcoin treasury model and licensing provide exceptional optionality, some cash flow and guidance elements are still moderate rather than exceptional, and revenue growth is not yet at the highest tier. The overall signal is strong, but not at the absolute maximum.
Redwood Trust (MAX) Q3 2025: Sequoia Originations Surge 53% as Legacy Capital Shrinks to 25%
Redwood Trust is showing strong evidence of a successful pivot to a high-return, scalable business model with a long reinvestment runway. There is a significant uptick in growth (Sequoia locks up 53%, Aspire quadrupled) and improving unit economics. However, while growth is strong, it is not at the extreme acceleration (40%+) across all metrics to justify full marks for every signal question. The business is transitioning to a growth model with disruptive elements (AI, tech-enabled mortgage banking), but not fully disruptive. The outlook is very positive, but not at the highest level of exceptional acceleration.
Wingstop (WING) Q1 2025: Unit Growth Accelerates to 17% as Smart Kitchen Drives Operational Edge
Wingstop demonstrates strong growth levers: accelerating unit growth, high franchisee returns, and operational innovation. The business model is asset-light and scaling, with international expansion and digital transformation. However, the growth outlook is not exceptional (not >30% comp acceleration), and while disruptive, it is not a new or unknown story, so the signal is high but not at the absolute maximum.
Dayforce (DAY) Q1 2025: Bookings Surge 40% as Full Suite Adoption Accelerates
Dayforce demonstrates a strong growth profile with a long reinvestment runway, improving unit economics, and a self-reinforcing platform model. Bookings growth of 40% and expanding suite adoption point to significant embedded growth, though revenue growth is guided at 12-13% and not yet at hypergrowth levels. The business model is semi-disruptive with disruptive elements (AI, unified suite), but not a pure disruptor. Cash flow is accelerating, and the company is clearly a growth business, but the signal is slightly tempered by the scale and maturity of the company and the absence of 30%+ top-line guidance.
SGHC (SGHC) Q3 2025: 65% EBITDA Growth Underscores Platform Leverage and SuperCoin Bet
SGHC demonstrates a long reinvestment runway, clear margin and unit economics improvement, and a platform with self-reinforcing elements. The SuperCoin launch and AI-driven efficiency are meaningful business evolutions, but the overall growth outlook, while robust, is not at the extreme acceleration threshold for a perfect score. The business model is innovative within its space but not wholly disruptive. Overall, the signal is strong and actionable for investors.
TARS Q2 2025: Xdemvi Prescriber Base Expands 33%, Unlocking New Eye Care Market Depth
Tarsus demonstrates a long reinvestment runway, disruptive business model, and strong growth in prescriber base and revenue. Unit economics are improving, and the model is self-reinforcing with both physician and patient activation. However, refill rates are still maturing, and while growth is strong, it is not yet at the exceptional acceleration threshold for the highest scores in all categories. Still, the overall signal is very high.
Experian Therapeutics (ESPR) Q2 2025: U.S. Net Product Revenue Jumps 42% as Statin-Intolerant Patient Strategy Scales
Experian Therapeutics demonstrates a long reinvestment runway, strong commercial momentum, and improving unit economics. The business model is increasingly self-reinforcing with digital and payer leverage, and customer value is rising. While international and pipeline optionality are present, growth is not (yet) exceptional/accelerating above 30-40%, and the business, while differentiated, is not fully disruptive. Still, the signal is high for a mid-cap specialty pharma with global upside and patent protection.
Tiendas 3B (TBBB) Q1 2025: Store Base Expands by 507, Fueling Market Share Momentum
Tiendas 3B demonstrates a long reinvestment runway, accelerating store growth, improving unit economics, and a self-reinforcing business model. Customers are becoming more valuable and cash flow is accelerating. However, while growth is robust, it is not exceptional (sub-40%), and the business model, while efficient, is not highly disruptive. The outlook is strong but not at the highest end of growth or innovation.
Abiona Therapeutics (ABEO) Q1 2025: $2B U.S. Revenue Potential Hinges on PZ-Cell Launch Ramp
Abiona is at a critical inflection with a disruptive, high-value, high-barrier gene therapy launch. The business model is exceptional, with a long reinvestment runway, improving unit economics as scale builds, and clear self-reinforcing features (manufacturing, payer access, center relationships). However, revenue and EPS growth will be supply-gated in the near-term, and there is execution risk around launch and manufacturing ramp, slightly tempering the signal score.
PDF Solutions (PDFS) Q2 2025: Analytics Revenue Jumps 28% as AI-Driven Supply Chain Orchestration Gains Traction
PDF Solutions is showing strong analytics-led growth, margin expansion, and platform adoption, with a long reinvestment runway and disruptive potential. While growth is robust (21-23%), it is not yet at the exceptional/accelerating level (>30%). Cash flow is positive but not yet rapidly accelerating. The business model is highly scalable and self-reinforcing, with strong customer value expansion and high platform stickiness.
Archer Aviation (ACHR) Q1 2025: Cash Reserves Climb to $1.03B as Midnight Enters Piloted Test Phase
Archer demonstrates a long runway, disruptive business model, and clear inflection with piloted testing and commercialization. Unit economics and customer value are improving, and the business is transitioning to growth. However, future growth rates and cash flow acceleration are not yet at the highest threshold, and some optionality (AI, defense) remains long-term rather than immediate.
Aehr (AEHR) Q3 2025: AI Processors Now 35%+ of Mix as Market Diversification Accelerates
Aehr demonstrates a long reinvestment runway, disruptive business model, and strong business mix shift toward high-growth verticals like AI processors. Unit economics and customer value are improving, and the business is transitioning to a multi-vertical growth platform. However, near-term guidance is clouded by tariff-driven order timing, so future growth is good but not exceptional (hence 1s for questions 6, 8, and 9).
ADMA Biologics (ADMA) Q2 2025: Yield Enhancement Delivers 20% IG Output Gain, Margin Expansion in Focus
ADMA demonstrates a long reinvestment runway, exceptional margin expansion, and a disruptive process innovation with high ROIC potential. The 20% IG output gain is a material business evolution, and unit economics are improving with scale. The business model is self-reinforcing and cash flow is accelerating. However, while growth is strong, it is not consistently above 40%, and the business, though dynamic, is not as widely disruptive as top-tier tech or platform models.
FIP (FIP) Q3 2025: Wheeling Acquisition Drives 55% EBITDA Surge, Unlocks $220M Rail Run Rate
FIP demonstrates a strong reinvestment runway and clear evidence of inflection in scale and cash flow. The Wheeling acquisition and Longridge monetization create new growth vectors and improved economics, with visible synergy capture and EBITDA step-up. While most signal criteria are met at the highest level, some areas—such as future growth rate and business model disruption—are strong but not exceptional, warranting a slightly lower score.
Soleno Therapeutics (SLNO) Q2 2025: 646 Patient Starts Signal Launch Outperformance and Expanding Payer Access
Soleno demonstrates a long reinvestment runway, disruptive launch, improving unit economics, and self-reinforcing payer access. However, growth guidance is not exceptional (acceleration is not over 30%), and business model disruption is moderate given the single-asset focus. Signals are strong but tempered by concentration risk and the normalization of launch momentum.
Glaukos (GKOS) Q2 2025: iDose TR Drives 45% U.S. Glaucoma Growth, Reshaping Ophthalmology Playbook
Glaukos demonstrates a long reinvestment runway with high returns, disruptive business model, and clear evidence of accelerating growth in its glaucoma franchise. There is strong improvement in unit economics, customer value, and a self-reinforcing model. However, while growth is strong, it is not consistently above 40% across all segments, and cash flow acceleration is emerging but not yet at full strength. The business is transitioning to a platform model with substantial optionality, making it highly investable, though some risks and uncertainties remain.
Arteris (AIP) Q1 2025: ACV Plus Royalties Up 15%, AI and Automotive Drive Outsourcing Shift
Arteris demonstrates a long reinvestment runway, strong growth in ACV plus royalties, and clear evidence of improving unit economics and self-reinforcing business dynamics. The business model is disruptive, with AI and automotive driving demand. However, while growth is strong, it is not at the very top end (exceptional acceleration is not fully evident yet), and cash flow improvement is moderate. The company is a growth business, but macro and execution risks temper the signal slightly.
SunStorm Gold (SAND) Q2 2025: Royal Gold Deal Cuts Top Asset Concentration to 61%, Unlocking Portfolio Re-Rating
SunStorm (SAND) is positioned for a major inflection with the Royal Gold deal, reducing concentration and unlocking a long reinvestment runway. The business model is self-reinforcing with improving unit economics and deepening customer value. Growth is strong but not at hypergrowth (40%+) levels, and while the model is semi-disruptive, it is not a true new platform. Cash flow is accelerating, but future growth is more 'very good' than 'exceptional.'
Solid Power (SLDP) Q2 2025: BMW i7 Test Vehicle Validates Solid-State Progress, 75MT Electrolyte Expansion Targets Commercial Ramp
Solid Power is at a clear commercial inflection, with OEM validation, pilot line scale-up, and a credible path to high-return reinvestment. The business model is disruptive, with strong self-reinforcing elements and improving unit economics. However, commercial revenue acceleration is not yet fully proven (hence 1s for cash flow acceleration and >20% annual growth), but the setup is attractive for long-term growth investors.
EQT (EQT) Q1 2025: Free Cash Flow Surges 2x Peer Average as Olympus Deal Bolsters Inventory Depth
EQT demonstrates a long reinvestment runway, strong synergy capture, improving unit economics, and a disruptive pivot to customer-linked growth. Free cash flow is surging, and the Olympus deal extends inventory depth. However, while growth is robust, the forward outlook does not clearly support >40% revenue/EPS growth, and the business, while advantaged, is not entirely unique or unknown in the market.
Alvotech (ALVO) Q1 2025: Raises Revenue Guidance to $700M as Biosimilar Launches Accelerate
Alvotech demonstrates a long reinvestment runway, clear margin and revenue inflection, and a business model with some self-reinforcing elements (B2B partnerships, asset-light scaling). Growth is strong but not hyperbolic, and while the pipeline is robust, the business model is not fully disruptive. Cash flow is accelerating, and the company is transitioning from a development-stage to a growth-stage leader. However, some uncertainties around pipeline execution and partner risk temper the signal score.
Pursuit (PRSU) Q2 2025: Attractions Revenue Jumps 22%, Fueling Guidance Raise and M&A Expansion
Pursuit demonstrates a long reinvestment runway, strong recent growth, improving unit economics, and a self-reinforcing business model. Customer value is rising, and the business is solidly in growth mode with accelerating cash flow. While guidance and backlog are positive, growth is not exceptional enough for full marks. The business is semi-disruptive but not a pure disruptor, and annualized growth is strong but not in the top tier. Overall, this is a high-signal, high-upside business, but not the very highest echelon.
Welltower (WELL) Q3 2025: $23B Transaction Surge Accelerates Pure-Play Senior Housing Pivot
Welltower is undergoing a major strategic transformation with clear evidence of a long reinvestment runway, improving unit economics, operational leverage, and a disruptive shift toward technology-driven senior housing. While growth is strong and the business model is evolving, some risks and execution uncertainties temper the most aggressive upside signals.
Corning (GLW) Q3 2025: Optical Sales Surge 33% as GenAI Demand Outpaces Supply
Corning demonstrates strong signal across reinvestment runway, recent growth, improving unit economics, and self-reinforcing business model. Customer value is deepening and the business is a clear growth story. However, while growth is strong, it is not quite at the exceptional level for guidance/backlog acceleration (>30%), and the business, though innovative, is not fully disruptive. Revenue growth is above 20% but not consistently above 40%.
Datadog (DDOG) Q1 2025: FlexLogs Hits $50M ARR, AI-Native Revenue Share Doubles
Datadog demonstrates a long reinvestment runway, disruptive platform expansion, and deepening customer economics, with exceptional growth in new products and AI-native cohorts. However, guidance for future quarters is more cautious, with margin and cohort volatility tempering the near-term outlook. While several signal criteria are maximized, the growth profile is not truly explosive (>40%), and cash flow, while strong, is not yet accelerating. The business remains highly investable, but not at the absolute peak of signal.
Hims & Hers (HIMS) Q2 2025: Personalized Care Drives 73% Revenue Growth as Platform Expands Beyond Weight Loss
Hims & Hers is showing strong growth, expanding into new verticals, and leveraging technology/AI for platform effects. The business model is disruptive and self-reinforcing, with improving unit economics and increasing customer value. However, cash flow is not yet accelerating, and the near-term growth outlook, while strong, is not at the extreme acceleration threshold for top marks. The company is transitioning into a high-growth, high-retention model, but some risks and uncertainties remain regarding execution and margin trajectory.
Applied Digital (APLD) Q4 2025: $7B CoreWeave Leases Anchor Multi-Gigawatt AI Data Center Ambitions
APLD’s transition to multi-gigawatt AI/HPC infrastructure, anchored by $7B in long-term CoreWeave leases, signals a disruptive business model with a long reinvestment runway and clear competitive moats. Revenue growth is strong but not yet at hypergrowth levels (>40%), and while cash flow is improving, it is not yet accelerating. The business is clearly in a high-growth phase with significant optionality and industry read-through, though execution risk and capital intensity temper the near-term signal.
Amer Sports (AS) Q1 2025: Direct-to-Consumer Sales Surge 39% as Salomon and Arc'teryx Drive Global Outperformance
Amer Sports exhibits a long reinvestment runway, strong unit economics, and a self-reinforcing model driven by premium brands and D2C. There is robust growth, but not at hypergrowth (40%+) levels, and the business is not fully disruptive but is semi-disruptive within its category. Cash flow is accelerating, and the business is firmly in a growth phase. Some signal is deducted due to the business being well-followed and not entirely unique, with growth rates below the highest threshold for exceptional signal.
Viper Energy (VNOM) Q2 2025: 15% Per Share Oil Growth Target Anchors Post-Merger Upside
Viper Energy demonstrates a long reinvestment runway, clear growth drivers, improving unit economics, and a self-reinforcing, capital-light business model. Customer value is deepening and the business is transitioning to a cash flow machine. The model is semi-disruptive within energy royalties but not fundamentally new to the sector. Growth is strong but not at hypergrowth levels, and the recent developments are material but not explosive. Overall, the business is positioned for above-average returns and differentiated capital return, but lacks the extreme upside of a true disruptor or breakout hypergrowth story.
IonQ (IONQ) Q2 2025: R&D Spend Jumps 23% as Quantum Networking Ambitions Scale
IonQ demonstrates a long reinvestment runway, disruptive platform potential, and strong commercial traction with improving economics. However, the growth outlook, while robust, is not yet exceptional (under 40%), and cash flow is not yet accelerating. The business model is highly strategic with clear optionality, but near-term losses and execution risk temper the signal slightly.
Grail (GRAL) Q2 2025: Gallery Repeat Testing Climbs to 25%, Powering Evidence-Driven Expansion
Grail demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and increasing customer value. There are clear signals of channel-driven growth and clinical validation, but cash flow is not yet fully accelerating and guidance is improving but not exceptional. Revenue growth is strong but not over 40%. The business is firmly in growth mode, but some upside is contingent on future regulatory and reimbursement milestones.
ETON (ETON) Q2 2025: Increlex Patient Base Surges 49%, Accelerating Revenue Run Rate Timeline
ETON demonstrates a strong reinvestment runway, high growth in patient base, improving unit economics, and a self-reinforcing rare disease platform. Customer value is increasing, and the business is transitioning to strong cash flow. However, some elements such as future exceptional growth and disruptive business model are present but not at the highest level, and annualized growth is guided to slow after the Q2 surge.
Connexa (KNSA) Q3 2025: Arcalyst Prescriber Base Expands by 350, Underpinning Guidance Hike
Connexa demonstrates a long reinvestment runway, strong recent growth (61% y/y revenue, record prescriber adds), improving unit economics, and a self-reinforcing commercial model with digital/AI leverage. Customer value is deepening (longer therapy duration, higher retention), and the business is a clear growth leader in a still underpenetrated market. However, while guidance was raised and pipeline optionality exists, the outlook for >40% growth and truly exceptional future acceleration is not fully supported by the evidence. The business is disruptive within specialty pharma but faces some competitive and execution risks.
ASTS Q1 2025: CapEx Climbs 44% as Satellite Manufacturing Ramps for 60+ Launch Cadence
ASTS demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and a transition to operational scale with clear competitive moats. While revenue acceleration is contingent on execution, the company is not yet showing 30%+ growth, and cash flow is not yet fully accelerating. The business is growth-oriented, but some metrics are not at the highest tier.
AVDL Q1 2025: Lumerize Patient Base Doubles, Unlocking Leverage as New Indications Clear Legal Hurdles
Avidel demonstrates a long reinvestment runway, rapidly improving unit economics, a self-reinforcing commercial model, and rising customer value. Legal/regulatory wins and commercial momentum are driving revenue and cash flow inflection. However, while growth is strong, it is not yet at the 40%+ level for revenue/earnings, and the business model, while differentiated, is not truly disruptive in a platform sense. The outlook is robust, but not at the most extreme acceleration tier.
Vir Biotechnology (VIR) Q2 2025: Operating Expenses Down $42M as Pipeline Advances Across Three Registration Trials
Vir demonstrates a long reinvestment runway with multiple pivotal programs and a robust cash position. There is a significant pipeline evolution and cost reset, with improving unit economics and a disruptive oncology platform. Some uncertainty remains on near-term growth acceleration and cash flow, but the business is clearly in a growth phase with strong optionality. Not all elements point to immediate hypergrowth, but the signal is strong for a mid-cap biotech.
Arteris (AIP) Q3 2025: RPO Jumps 34% as AI and Chiplet Wins Broaden Revenue Visibility
Arteris demonstrates strong reinvestment runway, disruptive business model, compounding network effects, and clear evidence of customer value deepening. The royalty flywheel is gaining speed, but the business is not yet at a phase where growth is exceptional or cash flow is rapidly accelerating. Guidance is improved but not at an exceptional 30%+ acceleration. Overall, the company is well positioned for growth but not at the highest tier of signal.
Webtoon (WBTN) Q2 2025: Disney Deal Unlocks 100+ IP Titles, Fuels Platform Monetization Ambitions
Webtoon shows a long reinvestment runway with the Disney deal and premium IP, strong user growth, improving ARPU, and a disruptive platform model. There is clear evidence of compounding effects and cross-media expansion. However, near-term financial acceleration is moderate (guidance for 9-12% growth), and cash flow is not yet accelerating. The business is growth-oriented but still proving sustained high-velocity monetization, warranting some conservatism in scoring.
Butterfly Network (BFLY) Q1 2025: Gross Margin Rises to 63% as Medical School Flywheel Accelerates
Butterfly Network demonstrates a long reinvestment runway, improving unit economics, and a disruptive, self-reinforcing business model. The education channel is driving recurring, annuity-like growth, and platform initiatives have begun to generate incremental revenue. While growth is strong and the business is transitioning to a platform model, guidance and backlog do not indicate truly exceptional (>30%) acceleration, and cash flow is improving but not yet accelerating. The business is high-signal for investors seeking exposure to digital health platforms with multiple monetization levers.
Cadence (CDNS) Q3 2025: Backlog Surges to $7B, Securing Multi-Year AI Design Tailwind
Cadence demonstrates a long reinvestment runway, strong backlog growth, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and cash flow is accelerating. However, while growth is strong, it is not at the hypergrowth (40%+) level, and some elements (e.g., future guidance) are very good but not truly exceptional. The business is disruptive and growing, but not at the most extreme rates.
Bilibili (BILI) Q1 2025: Game Revenue Jumps 76% as Platform Monetization Accelerates
Bilibili demonstrates clear evidence of a high-margin, scalable business model with a long reinvestment runway, improving unit economics, and deepening customer value. Growth is robust but not explosive enough for a perfect score on recent acceleration and future guidance. The business model is semi-disruptive rather than fully disruptive, and while cash flow is accelerating, revenue/EPS growth is strong but not at the highest tier. Overall, signal is very high but just below the maximum due to the maturity of some segments and the absence of truly exceptional growth rates.
Symbotic (SYM) Q3 2025: Next-Gen Storage Boosts Density by 40%, Resets Deployment Trajectory
Symbotic demonstrates a disruptive business model with a long reinvestment runway, strong margin and backlog dynamics, and clear signals of compounding advantages. However, near-term growth moderates due to deployment resets and CapEx intensity, and while future growth is promising, current guidance does not indicate an immediate 30%+ acceleration. The business is high signal but not at the very top end of growth inflection.
Numora Therapeutics (NMRA) Q2 2025: Cash Runway Extends Into 2027 as Six Clinical Catalysts Approach
Numora demonstrates a long reinvestment runway and disruptive potential with its CNS-penetrant obesity program. There are multiple significant upcoming clinical catalysts, and the business model shows self-reinforcing elements with a diversified pipeline. Unit economics and customer value are less directly applicable but implied through capital discipline and pipeline breadth. Cash flow is not yet accelerating (pre-commercial stage), so scores are capped there. Growth is strong but not yet proven at 40%+ rates. The business is firmly in the growth phase, with high optionality and valuation upside if clinical milestones deliver.
Bowman (BWMN) Q1 2025: Backlog Jumps 27% as Organic Growth and Cash Conversion Accelerate
Bowman demonstrates a long reinvestment runway, clear backlog growth, improving unit economics, and a self-reinforcing business model. Customer value and cash flow are increasing, and the business is firmly in growth mode. However, while growth is strong, it is not accelerating above 30-40% in the near term, and the business model is more evolutionary than truly disruptive. The signal is high, but not at the absolute peak for an unknown or truly exceptional inflection.
NeuroPace (NPCE) Q2 2025: Gross Margin Rises to 77.1% as RNS Platform Momentum Accelerates
NeuroPace demonstrates a long reinvestment runway with high ROIC prospects, significant growth in backlog/revenue, improving unit economics, and a self-reinforcing business model (data/AI moat). Customer value is deepening, and the business is transitioning toward a disruptive, high-margin platform. However, while growth is strong (20%+), it does not exceed 40% annually, and cash flow is improving but not yet accelerating. The business is in a clear growth phase with some execution and regulatory risks, but the signal is high for investors.
Capricorn Therapeutics (CAPR) Q1 2025: R&D Spend Jumps 60% as BLA Approval Path Intensifies
Capricor presents a compelling growth story at a major clinical-to-commercial inflection, with a disruptive first-in-class therapy, strong cash runway, and high-value milestone potential. The business model is self-reinforcing given rare disease dynamics and partnerships, and unit economics are poised to improve post-launch. However, the lack of current revenue and dependence on regulatory events temper the signal. While growth potential is high, near-term uncertainty around approval and launch execution prevents a perfect score.
Root (ROOT) Q2 2025: Partnerships Channel Triples as Next-Gen Pricing Lifts LTV 20%
Root demonstrates a long reinvestment runway, significant channel-driven growth, and improving unit economics. The business model is disruptive and self-reinforcing, with customer LTV rising and partnerships scaling quickly. However, near-term profitability and cash flow are pressured by investments, and growth, while strong, is not consistently above 40%, warranting a slightly more conservative signal score.
Allot (ALLT) Q2 2025: CCaaS ARR Jumps 73% as Verizon MyBiz Drives Security Revenue Mix Shift
Allot shows a strong pivot to recurring, high-margin ARR with major carrier wins and a long runway in telco security, supporting high scores for reinvestment, business model, and growth. However, while growth is accelerating, it is not yet at the exceptional or hypergrowth level required for top marks on all questions. The business is becoming more valuable, but some metrics (cash flow, disruption, growth rate) are strong but not best-in-class. Signal is high but not at the absolute maximum.
Arista Networks (ANET) Q1 2025: $887M Buyback and 63% Gross Margin Signal AI-Driven Scale, Tariff Risk Looms
Arista shows a long reinvestment runway, improving unit economics at scale, and a self-reinforcing business model with growing customer value. There is a significant recent development (record revenue, buyback, AI-driven demand), but the business, while strong, is already well-known and widely followed, with some uncertainty from tariffs and deferred revenue timing. Growth is robust but not explosive enough to merit top marks across all categories. The business is not disruptive in the strictest sense, but is semi-disruptive within its segment. Cash flow is strong but not yet accelerating at an exceptional rate. The company is a clear growth business, but some risk factors and the maturity of the segment temper the overall signal.
Triumph Financial (TFIN) Q2 2025: Intelligence Segment Set to Outpace 20% Transportation Growth Target
Triumph Financial is demonstrating a strong growth runway, clear improvement in unit economics, and a pivot to value extraction in high-ROIC segments. However, while the growth is robust and the business is transitioning, the signal is slightly tempered due to the absence of explosive (40%+) growth rates or truly disruptive business model evidence. The company is positioned well, but not at the extreme end of high-signal innovation or acceleration.
Adaptive Biotechnologies (ADPT) Q1 2025: ClonoSeq Volume Climbs 36% as EMR Integrations Accelerate
Adaptive Biotechnologies demonstrates strong growth, improving unit economics, expanding margins, and a self-reinforcing business model with digital integration and payer contracting. However, while the business is inflecting, some elements (e.g., acceleration to >40% growth, disruptive model, and cash flow machine status) are not fully realized yet, warranting a conservative approach to scoring.
Williams (WMB) Q1 2025: Project Backlog Lifts EBITDA Guidance by $50M, Accelerating Growth Trajectory
Williams demonstrates a long reinvestment runway with high-return projects, expanding backlog, and disciplined capital allocation. The business model is self-reinforcing with contracted, fee-based growth and new avenues (data center power) opening. Growth is strong but not explosive (>9% EBITDA guidance), and while some new business lines are disruptive, the core remains midstream. Cash flow is accelerating, but not at a hypergrowth pace. Overall, strong signal, but not at the highest level of disruptive or hypergrowth opportunity.
AMKR Q2 2025: Compute Segment Climbs 18% as Advanced Packaging Drives Strategic Expansion
AMKR demonstrates a strong reinvestment runway in advanced packaging and test, with clear evidence of business model evolution and high-value customer engagement. The compute segment's 18% YoY growth and 27% sequential revenue guidance are significant, but margin recovery and operational execution remain uncertain, capping the signal score. The business is transitioning with disruptive elements, but not all metrics (e.g., cash flow, exceptional future guidance) are at the highest threshold.
Camtek (CAMT) Q1 2025: 52% Gross Margin Signals Product Mix Shift and Advanced Packaging Leverage
Camtek demonstrates a strong reinvestment runway with high ROIC, clear product-driven growth, and improving unit economics. The business model is compounding with scale, and customer value is increasing. However, growth guidance is strong but not exceptional (not over 30%), and while the business is semi-disruptive, it does not qualify as fully disruptive. Cash flow is robust but not yet accelerating at a very high rate, and growth rates are solid but not hyper-growth. The business is firmly in the growth category, but some metrics fall just short of the highest signal.
ReNew Energy (RNW) Q4 2025: 32% EBITDA Surge Anchors 18% Portfolio Expansion Strategy
RNW demonstrates a long reinvestment runway, strong recent growth, improving unit economics, and a self-reinforcing business model. Customers are becoming more valuable, and the business is a clear growth story in a structurally growing sector. However, while growth is strong, it is not at a hyper-growth (40%+) level, and some elements (manufacturing margin normalization, regulatory risks) temper the degree of disruption and cash flow acceleration. The business is not entirely unique or undiscovered, but the signal remains high given the strategic execution and sector tailwinds.
Ciena (CIEN) Q2 2025: Cloud Revenue Jumps 85% as AI Networking Demand Reshapes Order Book
Ciena is showing a strong reinvestment runway with record cloud/AI revenue growth, backlog expansion, and improving customer value. However, margin is under pressure and not yet accelerating, and while the business is shifting to higher growth, it is not a new disruptor and the growth outlook, while strong, is not at the highest acceleration tier. Still, the business is moving decisively toward a multi-year growth phase.
Pure Storage (PSTG) Q1 2026: Subscription Revenue Surges 17% as Platform Model Drives Resilience
Pure Storage shows strong recurring revenue growth, expanding margins, and a platform model with clear reinvestment runway. The business is not yet seeing 30%+ acceleration, and while disruptive, much of the upside is already recognized by the market. The hyperscale/AI opportunity is promising but not fully validated in numbers. Signal is high but not at the level of a nascent, underappreciated compounder.
Full Truck Alliance (YMM) Q1 2025: Transaction Service Revenue Jumps 51.5% as Monetization Accelerates
YMM demonstrates a strong reinvestment runway, improving unit economics, and self-reinforcing model with network effects. There is clear evidence of monetization acceleration and user value deepening. However, while growth is robust, it is not at the most extreme levels (>40%), and some strategic bets (AI/autonomous) are still in early stages, so not all criteria are maxed.
Domo (DOMO) Q1 2026: Subscription RPO Jumps 24% as Consumption Model Fuels Durable Growth
Domo demonstrates a long reinvestment runway with improving unit economics and a self-reinforcing business model via ecosystem partnerships and AI-driven product adoption. Subscription RPO growth is robust, and the pivot to consumption pricing is driving higher retention and engagement. However, while growth is strong, it is not yet at the level of a hypergrowth or truly exceptional acceleration, and the business, while improved, is not disruptive enough to warrant a perfect signal score.
GlobalE (GLBE) Q1 2025: GMV Up 34% as Tariff Volatility Spurs Merchant Demand for Complexity Solutions
GlobalE demonstrates a strong reinvestment runway, clear scale economics, and a self-reinforcing business model. There is robust GMV growth (34%), product innovation, and an expanding enterprise pipeline, but guidance is steady rather than accelerating, and some headwinds (fee compression, competitive risk) temper the signal. The business is not fully disruptive, and cash flow, while set to recover, is not yet accelerating. Revenue growth is strong but not hypergrowth (over 40%).
Tower Semiconductor (TSEM) Q1 2025: RF Infrastructure Jumps to 22% of Revenue, Fueling Margin Upside
Tower Semiconductor is positioned in high-growth, high-margin segments with clear reinvestment opportunities and improving unit economics. The business model is increasingly self-reinforcing through technology leadership in silicon photonics and power management, and customer value is deepening. However, while the growth outlook is strong, it is not yet at an 'exceptional' or hypergrowth level, and some risks remain around capacity execution, China exposure, and customer concentration. The signal is high, but not at the absolute peak for disruptive, runaway growth.
AvePoint (AVPT) Q1 2025: Net New ARR Surges 57%, Channel and AI Governance Fuel Upside
AvePoint shows strong growth, improving margins, and expanding channel leverage. Net new ARR growth is exceptional, and the business model is increasingly self-reinforcing. However, while growth is robust, it is not yet at the truly exceptional acceleration threshold (>30% for future guidance), and the business is not entirely disruptive or unique in the SaaS governance space.
Tesla (TSLA) Q1 2025: Autonomy and Energy Pivot as Tariff Headwinds Pressure Core Auto Margins
Tesla demonstrates a long reinvestment runway, disruptive business model, and deepening customer value, with autonomy and energy storage as high-upside optionality. Recent developments (pivot to autonomy/energy, margin compression, localization) are significant but not yet resulting in exceptional growth (no 40%+ acceleration). Unit economics in energy are improving, but auto margins are pressured. The business is not fully a 'giant' yet, and near-term volatility tempers the signal. The model is self-reinforcing, but execution and regulatory risks remain. Overall, strong signal for investors, but not at the highest possible level due to near-term headwinds and uncertainty.
TSMC (TSM) Q1 2025: AI Demand and Global Expansion Drive 38% Growth Outlook, Margin Dilution in Focus
TSMC demonstrates a long reinvestment runway, strong growth outlook, and improving unit economics in AI/HPC. The business model is self-reinforcing with deepening customer value. However, margin dilution and capital intensity temper the signal, with some risk to future exceptional growth. The business is highly strategic but not undiscovered, and while growth is strong, it is not in the hypergrowth phase.
Exact Sciences (EXAS) Q2 2025: Screening Revenue Climbs 18% as Cologuard Plus and Freenome Deal Reshape Portfolio
Exact Sciences demonstrates a strong reinvestment runway, disruptive business model elements, and improving unit economics. However, while growth is robust, it is not at the truly exceptional levels (e.g., >40% growth or backlog step-change) that would warrant a perfect score. The business is transitioning into a multi-modal leader, but faces execution and regulatory risks that temper the signal.
Penumbra (PEN) Q1 2025: U.S. Thrombectomy Grows 25% as CAVT Drives Market Share Gains
Penumbra demonstrates a strong reinvestment runway, disruptive technology, improving unit economics, and a self-reinforcing business model, with clear evidence of share gains and margin expansion. However, growth guidance for 2025 is solid but not at the highest tier, and some international/China drag tempers the overall signal. The business is a growth leader in its niche, but not yet at the level of a hypergrowth, category-defining company.
IMAX (IMAX) Q1 2025: Local Language Box Office Surges to 68% of Mix, Fueling Global Margin Expansion
IMAX demonstrates strong signals of growth and margin expansion: a long reinvestment runway, record backlog, improving unit economics, and a business model that is increasingly self-reinforcing. Customer value is increasing, and the transition to local content is disruptive for the sector. However, while growth is robust, it is not yet in the 'exceptional' (30%+) acceleration range, and the model, while strong, is not as explosive as the highest-signal disruptors. The business is clearly growth-oriented, but some elements (cash flow, growth rates) are just below the highest possible thresholds.
TG Therapeutics (TGTX) Q1 2025: Briomvy Revenue Jumps 137% as Repeat Prescriptions Surpass New Starts
TG Therapeutics demonstrates a strong growth trajectory with a long reinvestment runway, improving unit economics, and deepening customer value. The business is not fully disruptive but shows semi-disruptive characteristics with pipeline optionality. While revenue and EPS growth are robust, they do not exceed the 40% threshold for the highest score. Cash flow is improving but not yet accelerating. The business is a growth story but faces execution risk in pipeline expansion and competitive dynamics, moderating the signal score.
ZKH (ZKH) Q2 2025: Private Label GMV Jumps 25% as Margins Expand for Sixth Straight Quarter
ZKH demonstrates strong margin expansion, improving unit economics, and a pivot to higher-quality growth drivers (private label, overseas, and AI). The business model is self-reinforcing and disruptive within its segment, but growth rates and cash flow are not yet at the highest tier, and overseas execution risk remains. The signal is high, but the business is not yet at the 'giant' inflection and remains in transition.
United Therapeutics (UTHR) Q1 2025: Tyvaso-Driven 17% Growth Anchors Double-Digit Outlook Amid Pipeline Milestones
United Therapeutics demonstrates strong growth, robust cash flows, and a long innovation runway anchored by Tyvaso and pipeline catalysts. However, the business is relatively well-followed, and while the xenotransplantation program offers upside, it remains high risk and not yet a clear valuation inflection. Signal is strong, but not at the level of an undiscovered or massively inflecting opportunity.
Ionis (IONS) Q1 2025: Revenue Guidance Raised 20% as Tringolza Launch Exceeds Early Expectations
Ionis is transitioning into a commercial-stage biotech with a long runway, strong early launch results, and expanding pipeline. While licensing revenue boosts near-term guidance, sustainable growth depends on execution. The business model is becoming more self-reinforcing, but the outlook, while strong, is not yet exceptional given the reliance on one-time licensing and the need for further execution on broad launches.
Tandem Diabetes Care (TNDM) Q1 2025: Pharmacy Channel Coverage Jumps to 30%, Unlocking Margin and Access Levers
Tandem is showing strong signals: expanding addressable market, clear margin improvement, and robust recurring revenue. Pharmacy channel and Type 2 launches materially expand runway and profitability, though some elements (like Type 2 scaling and OUS direct sales) are still in early innings, limiting the score for exceptional future growth. The business is not disruptive at the level of a platform monopoly, but does have some lateral opportunity. Growth is solidly double-digit, but not at hypergrowth levels, and cash flow is improving but not yet exceptional.
Clearwater Analytics (CWAN) Q1 2025: Acquisitions Add 50% Revenue, Margin Playbook Goes Enterprise Scale
Clearwater demonstrates a strong reinvestment runway, margin expansion, and platform leverage, with a disruptive model and significant acquisition-driven growth. However, the business is moving from disruptor to consolidator, and while growth is strong, the integration risk and lack of exceptional acceleration (i.e., 40%+ organic growth) temper the score. The opportunity is meaningful but not at the very highest tier of signal.
Alchemy Technology (ALKT) Q1 2025: Mantle Drives 11-Point RPO Lift, Accelerating Cross-Sell Opportunity
Alchemy demonstrates a long reinvestment runway, high add-on attachment rates, and a disruptive business model with strong cross-sell leverage. The Mantle acquisition has driven a notable inflection in backlog and RPO, with improving unit economics and a defensible market position. While growth is strong and accelerating, some elements (e.g., full acceleration of Mantle, cash flow ramp, and disruptive potential) are still developing, so a perfect signal score is not warranted.
Enovix (ENVX) Q1 2025: Malaysia Fab2, $10M Korea Asset Deal Accelerate Multi-Market Ramp
Enovix demonstrates high signal: a long reinvestment runway, disruptive business model, and clear operational acceleration. Recent developments (Malaysia Fab2, Korea asset deal) and multi-market ramp are significant. Unit economics and business model advantages are evident, but customer value deepening and near-term growth are not yet exceptional. Execution risks and dependency on qualification cycles moderate the signal score.
DigitalBridge (DBRG) Q1 2025: Fee Revenue Jumps 24% as Private Credit Pipeline Hits $13B
DigitalBridge demonstrates a long reinvestment runway with high returns, rapid pipeline growth in private credit, and improving unit economics. The business model is self-reinforcing with clear customer value deepening. Guidance and backlog signal strong future performance, though not at an exceptional (30%+) acceleration. The model is semi-disruptive but not purely so, and while cash flow is improving, it is not yet accelerating at the highest levels. Revenue/EPS growth is strong but not consistently above 40%. DigitalBridge is a growth business, though not at the most explosive trajectory.
Blue Owl (OWL) Q1 2025: $50B Capital Raised Fuels 31% Fee Growth, Locking in Defensive Premium
Blue Owl demonstrates a long reinvestment runway, strong recent fundraising, improving unit economics, and a self-reinforcing, fee-centric business model. Customer value is deepening, and the business is clearly in a growth phase. However, the growth is not at an exceptional, hyper-scaling level (e.g., not 40%+ revenue/eps growth), and while disruptive within asset management, it is not a wholly new business model. Cash flow is strong but not yet accelerating at the highest tier. The company is not an unknown or underfollowed name, which tempers the ultimate signal score.
Comstock Resources (CRK) Q1 2025: Elijah 1 Well Extends 520K Acre Play, De-Risking Drives Next Phase
Comstock demonstrates a long reinvestment runway (Western Haynesville), transformational well results, improving unit economics, and a self-reinforcing business model through technical innovation and strategic partnerships. Customer value is rising through expanded inventory and market positioning. However, while the future outlook is strong, growth is not yet exceptional/accelerating at 30%+, and the business, while semi-disruptive, is not fully disruptive. Revenue and EPS growth is likely strong but not >40%. The company is a growth business but not at the highest possible inflection.
Alphatec (ATEC) Q1 2025: Operating Margin Expands 900bps as Surgical Growth Outpaces Market
ATEC demonstrates a strong growth profile, with high reinvestment returns, margin inflection, and expanding procedural adoption. There is clear evidence of improving unit economics, self-reinforcing business model elements (platform integration, surgeon engagement), and increasing customer value. The growth outlook is robust (guidance for 20%+), though not at the 'exceptional' or hypergrowth level for several signal questions. The business is innovative and disruptive within spine, but not at the level of a new platform category. Cash flow is improving but not yet a 'machine.' Overall, this is a high-signal, high-growth situation with some headroom for even greater signal if growth accelerates further.
iRhythm (IRTC) Q1 2025: ZOAT Share Jumps to 14%, Fueling Guidance Raise and Primary Care Expansion
iRhythm demonstrates a long reinvestment runway (primary care, international, value-based channels), improving unit economics, and clear growth engine transitions (ZOAT, channel mix). However, the business is not a new disruptor and is already well-followed, which tempers the score. While growth is strong, it's not in the hypergrowth or truly exceptional range; guidance is conservative and the business, while attractive, is not likely to provide outsized valuation upside versus consensus. Risks (Japan reimbursement, tariffs, regulatory) are real but manageable.
Riot Platforms (RIOT) Q1 2025: Uptime Hits 90% as Data Center Buildout Accelerates
Riot has a long reinvestment runway, is experiencing significant business evolution with the AI data center pivot, and is showing improved unit economics and self-reinforcing business model elements. However, customer value deepening is only modestly improving due to the transitional nature of the business, and while growth is good, it is not yet exceptional or fully proven in the new vertical. The business is solidly in growth mode but lacks the full upside of a truly explosive inflection at this stage.
Monolithic Power Systems (MPWR) Q1 2025: Storage & Computing Jumps 38%, Powering Broad-Based Growth
MPWR demonstrates a long reinvestment runway, clear share gains, improving unit economics, and a self-reinforcing business model, with customers becoming more valuable. While growth is strong and the business is transitioning to a higher-value solutions model, some elements (e.g., exceptional future growth, disruptive model, and cash flow acceleration) are promising but not yet fully realized, warranting a slightly conservative signal score.
AirSail (ASLE) Q1 2025: Feedstock Acquisitions Surge 43M, Positioning for Back-Half Margin Upside
AirSail demonstrates a long reinvestment runway, major feedstock-driven growth optionality, improving unit economics, and a self-reinforcing business model. Customer value is increasing and the business is positioned for growth, but the growth outlook is strong rather than exceptional and the business model, while flexible and resilient, is not fully disruptive. Cash flow is improving but not yet accelerating, and revenue growth is likely in the 20–40% range. Overall, this is a strong signal but not at the highest level of disruption or acceleration.
Sunrun (RUN) Q1 2025: Storage Attachment Rate Hits 69%, Flex Drives Margin Upside Amid Tariff Uncertainty
Sunrun demonstrates a long reinvestment runway with high returns, strong recent growth in storage attachment and Flex adoption, and improving unit economics. The business model is increasingly self-reinforcing and customers are becoming more valuable. However, while growth is robust, it is not yet at the exceptional, hypergrowth level in every dimension, and policy/tariff risks create some uncertainty. The business is still transitioning toward a fully recurring, high-margin model, so scores are capped on some dimensions.
OrthoPediatrics (KIDS) Q1 2025: Scoliosis Revenue Jumps 34% as Portfolio Expansion Accelerates Share Gains
OrthoPediatrics demonstrates strong signal: high reinvestment runway, clear business model advantages, and accelerating growth in key segments. However, while growth is robust, it is not at the extreme levels (e.g., >40% company-wide or truly disruptive model) that would warrant the highest marks on every question. Risks and execution complexity temper the outlook, but the business is clearly transitioning to a profitable, compounding model with some disruptive characteristics.
Evolus (EOLS) Q1 2025: Market Share Rises to 15% as Multi-Product Launch Accelerates Growth Path
Evolus demonstrates a strong reinvestment runway, clear market share gains, and improving unit economics, with a business model that is becoming more self-reinforcing and customers that are growing more valuable. While the growth outlook is strong, it is not yet at a truly exceptional or disruptive level, and some metrics (e.g., cash flow acceleration, revenue growth rate) are solid but not at the highest tier. The business is transitioning to a growth platform but is not yet a breakout disruptor.
Cryoport (CYRX) Q1 2025: Life Sciences Services Now 56% of Revenue as DHL Deal Reshapes Strategic Focus
Cryoport shows a strong service-led pivot with a long runway in a growing sector (cell/gene therapy logistics), margin expansion, and a major strategic partnership. However, the business is not likely to deliver 40%+ growth or be truly disruptive beyond its niche, and some risk factors (regulatory, integration) temper the outlook. The signal is solid but not exceptional for a widely followed name.
SERA (SERA) Q1 2025: Medicaid Pilots Target 43% of U.S. Births, Pivotal for Commercial Flywheel
SERA has a potentially long reinvestment runway given Medicaid's 43% birth coverage and a disruptive model, but is still pre-scale with negligible revenue and no evidence of >20% growth yet. Unit economics are not proven but the business model is self-reinforcing and customer value is likely to deepen if pilots succeed. Cash flow is not yet accelerating, and the business is in early growth/transition. The signal is strong for optionality, but current financials cap the upside score.
LandBridge (LB) Q1 2025: Non-Oil Royalties Surge to 92% of Revenue, Insulating Growth
LandBridge demonstrates strong signal: a long reinvestment runway, disruptive mix shift, and infrastructure-driven growth. However, while growth is rapid, it does not quite reach the 'exceptional' threshold in guidance or backlog acceleration, and digital/power optionality is still emerging. The business is not widely followed, but the upside is notable for investors seeking secular infrastructure trends.
PubMatic (PUBM) Q1 2025: CTV Revenue Surges 50% as Secular Growth Mix Hits 70%
PubMatic demonstrates a strong secular shift to high-growth channels (CTV, SPO, data), with clear evidence of a long reinvestment runway and improving unit economics. The business model is becoming more self-reinforcing and customers more valuable, with high retention and diversification. While growth is strong, it is not at hypergrowth levels (>40%), and some risks remain regarding execution and macro headwinds. The business is disruptive but not a new category creator. Cash flow is robust but not yet accelerating at an exceptional rate. Overall, the signal is high but not at the absolute highest level due to scale and competitive context.
NOVA Gold (NG) Q3 2025: Donlin Ownership Rises to 60%, Unlocking $50B Leverage at $3500 Gold
NOVA Gold demonstrates a long reinvestment runway, a major recent development (Donlin stake increase), improving unit economics, a self-reinforcing model, and increasing customer value. However, guidance and growth outlook, while strong, are not yet at the exceptional/accelerating threshold for top marks, and the model is semi-disruptive rather than fully disruptive. Cash flow is improving but not yet strongly accelerating, and projected growth is strong but not consistently above 40%.
Affirm (AFRM) Q3 2025: 0% APR Volume Jumps, Fuels Prime User Acquisition and Card Flywheel
Affirm demonstrates a long reinvestment runway, clear recent acceleration (GMV up 40%), improving unit economics, and a business model with emerging self-reinforcing features (card flywheel, merchant network). Customer value is rising, and the business is transitioning toward growth, but not at the highest disruption or cash flow acceleration levels yet. While guidance is strong, it doesn't signal truly exceptional acceleration (>30%+), and some risk factors (macro, competition) temper the signal score.
PDF Solutions (PDFS) Q1 2025: SecureWise Adds $130M Platform, Margin Hits 77% on Recurring Mix
PDF Solutions is a high-quality, platform business with a strong recurring revenue mix and evidence of improving margins, customer value, and backlog. While growth is robust (21-23% guided), it does not reach the 'exceptional' 30%+ acceleration threshold and is not a hypergrowth or highly disruptive business. However, the model is self-reinforcing, and the recent SecureWise acquisition adds strategic and financial upside. The business is still transitioning to a full platform and not yet at maximum cash flow acceleration.
MP Materials (MP) Q1 2025: NDPR Production Jumps 36% as U.S. Magnetics Inflection Accelerates
MP Materials is at a strategic inflection, with a long reinvestment runway and a disruptive, vertically integrated model now validated by industry and government demand. There is evidence of significant operational progress (NDPR output up 36%, first U.S. magnet deliveries), but not all financial metrics are accelerating (EBITDA remains negative, cost normalization still underway). The business model is self-reinforcing with increasing customer value, but some risks remain around execution and downstream ramp. Revenue/EPS growth is solid but not yet hyper-growth. Overall, the company is transitioning rapidly toward growth, but not all metrics warrant a perfect score.
Stride (LRN) Q3 2025: Career Learning Enrollment Jumps 34%, Fueling Margin Expansion Ahead of FY26
Stride demonstrates strong growth characteristics with a long reinvestment runway, clear margin expansion, and a disruptive shift toward career learning. Application and enrollment surges, margin improvements, and operational leverage all signal a structurally stronger business. However, while growth is robust, it is not yet in the hypergrowth (>40%) or exceptional guidance revision territory, and some elements (disruptiveness, cash flow acceleration) are strong but not best-in-class. The business is transitioning into a growth phase with clear investor relevance.
ANI Pharmaceuticals (ANIP) Q1 2025: Rare Disease Revenue Jumps 87% as Cortrophin Gel Expands Market Reach
ANI shows strong growth in rare disease, generics, and improving financials, with clear evidence of expanding prescriber base and operational leverage. However, the business is not highly disruptive or likely to deliver 40%+ growth, and some developments (e.g., retina recovery) are still in flux. The business model is robust but not exceptional, and while growth is strong, it is not at the very highest levels of optionality or disruption.
BAP Q2 2025: Innovation Portfolio Lifts to 6.2% of Revenue, Driving 19% ROE Guidance
BAP demonstrates a long reinvestment runway, clear digital scaling, improving unit economics, and a business model that is becoming more self-reinforcing and diversified. However, the growth outlook is strong but not quite at the 'exceptional' threshold for all categories (e.g., not all segments are accelerating >30-40%), and some risks remain around execution and regulatory issues. The signal is strong, but not at the absolute highest level due to these moderating factors.
Arcutis (ARQT) Q1 2025: Zareve Scripts Jump 10% Despite Seasonal Headwinds, Underscoring Market Conversion Momentum
Arcutis demonstrates strong growth, improving unit economics, and a self-reinforcing business model with expanding indications and payer access. While the business is not yet showing exceptional (30%+) growth rates or a fully disruptive model, the signal is well above average with multiple levers for further upside.
RSI (RSI) Q3 2025: North American Casino MAUs Surge 46%, Powering Guidance Raise
RSI demonstrates a long runway with high returns, double-digit user and revenue growth, improving unit economics, and a disruptive, casino-first model. However, the business model's self-reinforcement is not yet fully entrenched (score of 1), and guidance/growth is strong but not at an exceptional acceleration (score of 1 for questions 6, 7, 9). The company is a clear growth business, but not a category-defining outlier at this stage.
EverQuote (EVER) Q1 2025: Auto Carrier Spend Soars 175%, Powering Data-Driven Flywheel
EverQuote demonstrates a long reinvestment runway, clear data/AI-driven flywheel, improving unit economics, and strong customer value expansion. The business model is semi-disruptive and cash flow is accelerating, but not yet at the highest inflection. Growth is robust but not at hypergrowth levels (>40%), and forward guidance signals moderation in the second half. The business is clearly transitioning to a growth phase, but not all signals are at maximum upside.
Exelixis (EXEL) Q1 2025: Cabo Franchise Grows 36% as NET Launch Expands Oncology Opportunity
Exelixis demonstrates a strong growth profile, with a long reinvestment runway and expanding franchise, but the business is not a new or underfollowed name and is already well-known among investors. While the Cabo franchise and NET launch provide real growth, and pipeline optionality is present, the degree of disruption and growth acceleration is strong but not at the most exceptional level. The business is a clear growth story, but not an undiscovered one likely to deliver surprise valuation upside.
FTAI Infrastructure (FIP) Q1 2025: Long Ridge Consolidation Adds $120M Non-Cash Gain, Resets EBITDA Run Rate
FIP demonstrates a long reinvestment runway, strong unit economics, recurring contracted EBITDA, and a capital-light growth pipeline. The Long Ridge consolidation and data center optionality are meaningful, but some upside (e.g., data center contracts) is not yet realized. While growth is strong, it is not currently at an exceptional/accelerating level (>30-40%). The business model shows some disruptive qualities but remains partly traditional infrastructure. Cash flow is improving but not yet accelerating rapidly. The business is transitioning to a higher-growth phase, but not all upside is fully de-risked or imminent.
Shift4 (FOUR) Q1 2025: Volume Backlog Climbs to $35B, Fueling Multi-Year Cross-Sell Engine
Shift4 shows a long runway, strong recurring economics, and clear margin expansion, supported by a large backlog and international expansion. However, while growth is robust, it is not at a hyper-scaling (40%+) level, and some strategic optionality (e.g., Global Blue) is not yet fully realized. The business is growth-oriented and disruptive, but not at the absolute highest tier of signal given the current growth rates and execution risk.
GDS (GDS) Q1 2025: 900MW Tier 1 Pipeline Poised for AI Inferencing Surge
GDS demonstrates a long reinvestment runway, robust backlog growth, improving unit economics, and a self-reinforcing business model focused on Tier 1 markets. Customer value is increasing, and the business is positioned for strong growth, but not all indicators point to exceptional (e.g., not all guidance is accelerating >30%). The model is semi-disruptive, and while cash flow is improving, it is not yet accelerating at the highest level. Revenue growth is strong but not hypergrowth. Overall, the signal is high but not maximum due to the maturity of the Chinese data center sector and the presence of regulatory risks.
Holidor Energy (HNRG) Q1 2025: Electric Sales Jump 42% as Data Center Demand Reshapes Strategy
Holidor demonstrates a strong reinvestment runway, clear business model evolution, improving unit economics, and a shift to a self-reinforcing, premium-priced power platform. The data center demand and contract structure provide growth catalysts, but the business is not yet at exceptional acceleration (over 30%+ growth), and while disruptive, it still has legacy coal exposure and some execution risk. Signal is strong, but not at the very highest level due to some transition and risk factors.
Harrow (HROW) Q1 2025: Vivi Revenue Jumps 35% as Access Program Accelerates Prescription Growth
Harrow displays strong signals: long reinvestment runway, compounding unit economics, and self-reinforcing business model with prescription and refill stacking. Sequential and annual growth rates are robust, but not at hypergrowth levels (>40%). The business is transitioning toward a growth phase, with some disruptive elements in access programs and vertical integration, but not a pure disruptor. Cash flow is growing, but not yet accelerating at the highest tier. The signal is strong for a specialty pharma, but not at the absolute frontier.
Incyte (INCY) Q1 2025: JAKAFI Surges 24% as Pipeline Milestones Set Up Multi-Launch Year
Incyte demonstrates strong commercial momentum, margin expansion, and a robust pipeline with multiple near-term launches. The business model is not fully disruptive but shows significant optionality and operational leverage. While the growth outlook is strong, it is not at the extreme high end (e.g., >40% annualized), and some risks remain around execution and competitive dynamics.
Intapp (INTA) Q3 2025: Cloud ARR Jumps 28% as AI and Real Assets Expansion Drive Pipeline
Intapp demonstrates a strong reinvestment runway, high growth in cloud ARR, improving unit economics, and a self-reinforcing business model. Customers are becoming more valuable, but the future growth rate, while robust, is not yet exceptional (>30% acceleration). The business is semi-disruptive, not fully disruptive, and cash flow acceleration is moderate. Revenue growth is in the 20-28% range, not above 40%. The company is a clear growth business, but not in a hypergrowth or highly disruptive phase.
Karo (KARO) Q4 2025: CarTrack Subscriber Base Climbs 17%, Expanding Rule of 60 Margin Leadership
Karo demonstrates a long reinvestment runway with high returns on capital, strong subscriber and ARR growth, best-in-class unit economics, and a self-reinforcing SaaS model. Customer value is deepening, and the business model is disruptive within its vertical. However, ARPU and EPS growth guidance is solid but not yet exceptional, and while the business is a growth leader, it is not showing 40%+ acceleration or truly exceptional backlog/guidance. The signal is high, but not at the absolute highest level for disruptive, hypergrowth businesses.
Freightos (CRGO) Q2 2025: Platform Transactions Jump 26% as Ocean Digitalization Accelerates
Freightos demonstrates a long reinvestment runway, accelerating platform growth, and deepening network effects. The business model is disruptive with a clear digital inflection. However, customer value deepening and cash flow acceleration are present but not yet exceptional, and growth, while strong, is not yet at hypergrowth levels. The business is solidly in the growth phase with multiple levers for upside.
Connexa (KNSA) Q1 2025: Arclist Prescriber Base Expands by 300, Fueling 75% Revenue Surge
Connexa demonstrates a long reinvestment runway with strong commercial momentum, expanding prescriber base, and improving unit economics. The model is self-reinforcing, with high retention and deepening prescriber engagement. While there is a recent significant growth uptick (75% revenue growth), some of this is attributed to a one-time Medicare policy effect, which tempers the signal on durability. The business is transitioning from high growth to a more mature phase, and while future guidance is raised, it does not suggest exceptional acceleration. The pipeline offers potential lateral opportunities but is not yet proven disruptive. Overall, the business is high-quality and growth-oriented, but not at the very highest signal threshold due to normalization risks and some reliance on non-recurring policy tailwinds.
LPA (LPA) Q1 2025: Peru Rental Income Jumps 38%, Anchoring Regional Platform Expansion
LPA demonstrates a long reinvestment runway, exceptional Peru growth (38%), improving unit economics, self-reinforcing lease structure, and deepening customer value. However, growth is not yet at a runaway pace across all regions, and while the business model is robust, it is not fully disruptive or accelerating at a 30%+ rate portfolio-wide. Mexico expansion is cautious, and cash flow growth is moderate, not explosive. The business is clearly growth-oriented but not at the highest possible signal threshold.
Mobileye (MBLY) Q1 2025: Design Wins Hit 85% of 2024 Total, Signaling Multi-Year ADAS Pipeline Strength
Mobileye demonstrates a long reinvestment runway, strong recent growth, improving unit economics, and self-reinforcing business model elements. Customer value is increasing, and the business is growing, but some elements (e.g., robotaxi financial impact) are still emerging and not yet exceptional. Signal is high, but not at the absolute maximum due to the business's scale, partial disruption, and the fact that some growth drivers will take time to fully materialize.
Mineralis (MLYS) Q1 2025: $201M Raise Extends Runway as Lorundrastat Moves Toward NDA
Mineralis is at a strategic inflection with clear clinical validation, a large addressable market, and strong cash runway. The business model has disruptive elements (novel mechanism, targeted commercial model), and there is evidence of improving unit economics and customer value. However, while growth is strong, it is not yet explosive (>40%), and the future outlook, while positive, is not exceptional enough for the highest scores. The company is not yet a clear cash flow machine, and some elements (e.g., global partnerships) remain in development. Overall, the signal is high but not at the absolute peak.
NICE (NICE) Q1 2025: Cloud Revenue Hits 75% Mix as AI-Driven Deals Expand Portfolio Value
NICE demonstrates a long reinvestment runway, improving unit economics, a self-reinforcing platform model, and growing customer value. The business is not accelerating at 30%+ growth but shows solid double-digit metrics and a disruptive shift to cloud/AI. While not an unknown or niche business, the article surfaces clear signals of multi-year upside and strategic inflection, meriting a strong—though not perfect—signal score.
ONON (ONON) Q1 2025: Asia-Pacific Sales Surge 130% as Premium Brand Strategy Drives Global Outperformance
ONON demonstrates a long reinvestment runway, premiumization, and rapid APAC growth (130% YoY), with strong D2C and apparel momentum. Unit economics and margins are improving, and the business model is becoming more self-reinforcing. However, while growth is strong, guidance for the remainder of the year is more conservative (28% CC growth), and the business, while premium and innovative, is not disruptive at the level of a platform or network-effect company. Cash flow is improving but not yet exceptional, and while the business is growth-oriented, it is not at the very top tier of signal for transformative upside.
PAR Technology (PAR) Q1 2025: Multi-Product Deals Jump to 57%, Fueling Cross-Sell Flywheel
PAR demonstrates a long reinvestment runway and strong cross-sell momentum, with clear evidence of improving unit economics and a self-reinforcing platform model. The business is transitioning to higher growth, but current signals on growth acceleration and disruption are strong but not yet exceptional. Payments and hardware remain smaller contributors, slightly tempering the overall signal.
PAX Q1 2025: Record $3.2B Fundraising Drives Fee-Earning AUM Up 46% Amid Global Volatility
Patria demonstrates strong growth, reinvestment runway, improving unit economics, and a more resilient, self-reinforcing business model. However, growth, while robust, is not at the hyper-scaling or disruptive level (e.g., >40% revenue/earnings growth), and some elements (like cash flow acceleration and disruptive business model) are present but not exceptional. The business is high quality but falls short of the very highest signal scores reserved for truly explosive or disruptive models.
Arcus Biosciences (RCUS) Q1 2025: $1B Cash Position Extends Runway Through Three Pivotal Readouts
Arcus has a long reinvestment runway with a disruptive late-stage pipeline and a $1B cash position. There is clear late-stage acceleration, rapid trial enrollment, and operational discipline, but the business is not yet demonstrating exceptional growth (over 30% acceleration) and faces execution risk. Unit economics and business model self-reinforcement are evident, but the company is not yet a giant or showing massive, immediate growth. Signal is strong, but not at the absolute highest tier.
Suncar Technologies (SDA) FY24: Auto E-Insurance Revenue Jumps 44%, AI and Gas Vehicle Penetration Drive Next Growth Phase
Suncar demonstrates strong growth, operating leverage, and expansion into new business lines, with clear evidence of high-margin, recurring revenue opportunities. However, while the growth is impressive, it is not a clear cut case of 30%+ acceleration or full disruptive dominance, and some elements (e.g., gas vehicle adoption) are still at an early stage. The business is promising but not yet an obvious outlier for extreme multiple expansion.
SI-BONE (SIBN) Q1 2025: Physician Base Jumps 27%, Unlocking Multi-Procedure Growth Leverage
SI-BONE demonstrates strong platform leverage, high margins, and a multi-year growth runway, with clear evidence of improving unit economics, customer value, and self-reinforcing business model. While the growth is robust, it is not at an extreme acceleration (>40%), and some elements (disruptiveness, cash flow acceleration, revenue growth) are strong but not top-tier. The business is high-quality but not in the most explosive inflection phase.
Silicon Labs (SLAB) Q1 2025: Home & Life Revenue Doubles, Positioning for 32% Growth Next Quarter
Silicon Labs is showing a strong growth inflection with nearly doubled Home & Life revenue, a 32% growth guide, and evidence of secular tailwinds and design win-driven expansion. However, while the business is solidly growth-oriented and self-reinforcing, it is not a hyper-growth or truly disruptive story, and some metrics (cash flow, future guidance) are good but not exceptional.
Syndax (SNDX) Q1 2025: Revuforge Orders Hit 44% of Priority Accounts, Fueling Commercial Ramp
Syndax demonstrates strong early commercial traction, high repeat ordering, and rapid payer access, indicating a long reinvestment runway and improving unit economics. The business model shows signs of compounding, and customer value is increasing. While growth is robust and the company is transitioning to profitability, the business is not yet at the very high growth or disruptive level that would warrant a perfect score. The signal is strong but not exceptional.
Sophia Genetics (SOPH) Q1 2025: Adjusted Gross Margin Soars 520 bps as Platform Scale Accelerates
Sophia Genetics shows a long reinvestment runway, clear operating leverage, and a disruptive platform model with strong growth in enterprise and U.S. deals. However, customer value deepening and future growth are not yet exceptional, and biopharma segment remains a future catalyst rather than a current growth driver. The signal is strong but not at the very top end due to the back-half weighting and execution risks.
Viking (VIK) Q1 2025: 92% Capacity Sold Drives $5.5B Advance Bookings, Visibility Through 2026
Viking demonstrates many characteristics of a high-quality, growth business: long reinvestment runway, strong pricing power, improving unit economics, and disruptive elements in direct-to-consumer and sustainability. However, growth guidance is mid-single-digit, and while the booking curve is exceptional, the business is not growing at the highest rates (>30-40%) and is not a new or undiscovered name, so the signal score is capped. The business model is robust and evolving, but not at the frontier of disruption.
Vista (VIST) Q1 2025: Petronas Deal Adds 47% Production Scale, Resets Growth Ambition
Vista's acquisition and integration offer a clear reinvestment runway at scale, with significant production and EBITDA uplift. The growth is substantial but not hyperbolic, as guidance is reset and integration risk is present. Margins and unit economics are improving, and the model is increasingly self-reinforcing with midstream leverage. Customer value (export pricing) is rising, but the business is not fully disruptive nor likely to post >40% growth. Cash flow inflection is coming but not yet accelerating. Overall, this is a high-quality, growth-phase business with strong but not exceptional signal.
WebToon Entertainment (WBTN) Q1 2025: Japan Revenue Jumps 9.4% as Cross-Border IP Drives Platform Expansion
WebToon demonstrates strong reinvestment opportunity (Japan/English growth engines, IP leverage), recent significant revenue and IP adaptation gains, and a self-reinforcing platform model. However, gross margin and cash flow are not yet clearly accelerating, and top-line growth is moderate in guidance. While disruptive and with global optionality, the business is not yet at 'giant' scale, and some segments are mature or in transition.
AEHR Q4 2025: AI Burn-In Jumps to 35% of Revenue, Diversification Redefines Growth Path
AEHR displays a long reinvestment runway, disruptive business model, and strong growth transition with clear technical leadership. There is a significant business evolution (AI burn-in now 35% of revenue), improving unit economics are evident, and the business is self-reinforcing. However, customer value deepening and cash flow acceleration are present but not yet exceptional, and future growth, while strong, is not yet at the highest acceleration tier.
Vista (VIST) Q2 2025: La Marga Chica Acquisition Drives 81% Production Surge and Margin Expansion
Vista’s acquisition and margin expansion offer a clear runway for reinvestment at high returns, with improving unit economics and a business model that is becoming more self-reinforcing. Customer value is growing via export expansion. While the business is not hyper-growth (>40% revenue/eps), it is a strong growth story (>20%) with improving cash generation and capital discipline. The model is semi-disruptive for the region but not globally unique. Recent developments are significant, but the outlook is not exceptional (not >30% acceleration), so scores are conservative. The business is clearly transitioning to a more robust, export-led growth phase.
Trisalis Life Sciences (TLSI) Q2 2025: TriNavFlex Launch Fuels 52% Revenue Surge and Expands Clinical Reach
Trisalis demonstrates a long reinvestment runway, disruptive device-led business model, and strong recent growth, with a 52% YoY revenue surge and expanding clinical adoption. Unit economics and customer value are improving, and commercial execution is accelerating. However, while growth is strong, guidance for future acceleration is only moderate (not exceptional or over 40% going forward), and cash flow is not yet accelerating. The business is transitioning toward profitability but is not yet a cash machine. Overall, signal is strong but not at the absolute highest level.
EQT (EQT) Q2 2025: $1B Growth Pipeline Unlocks 25% Cash Flow Yield, Data Center Demand Drives Expansion
EQT presents a strong growth runway with high returns on capital, clear operational leverage, and self-reinforcing business model dynamics. There is significant recent business evolution, especially with the Olympus acquisition and new data center/power demand. However, while growth is robust and the business is transitioning to a new strategic phase, the signal is slightly muted by the fact that EQT is a well-known, large-cap player and the growth, while impressive, is not at the level of a hypergrowth disruptor. Some guidance is good, but not exceptional, and while the business is not legacy or stalling, the disruption is more incremental than radical.
PRG Q2 2025: Four Technologies Revenue Surges 200%, Reshaping Growth Mix
PRG demonstrates strong signal in several areas: Four Technologies' 200%+ revenue growth and profitability point to a long reinvestment runway, improving unit economics, and a disruptive business model. However, growth in the legacy segment is capped by macro and credit tightening, and future guidance reflects only moderate acceleration. The business is transitioning, not yet an all-out high-growth compounder. Signal is high, but not at the absolute maximum given some lingering category headwinds and execution dependencies.
Ensign Group (ENSG) Q2 2025: Occupancy Rises to 84% as Localized Model Drives 16% Guidance Hike
Ensign demonstrates a long reinvestment runway, double-digit growth, improving unit economics, and strong cash flow acceleration. The business model is semi-disruptive, with some self-reinforcing features but not strongly compounding network effects. Customer value is deepening, and the company is a clear growth business, though not hyper-growth (>40%). Guidance revisions and backlog suggest strong but not exceptional acceleration. The signal is high, but the business is relatively well-known and mature in its niche, so the score is conservatively capped.
Bandwidth (BAND) Q2 2025: AI Voice Drives 29% Enterprise Revenue Surge, Maestro Adoption Accelerates
Bandwidth is showing strong enterprise revenue growth, high retention, and clear evidence of AI-driven monetization. The business is not fully disruptive but is evolving, and while growth is robust, it is not at hypergrowth levels. The model shows improving unit economics and cash flow, but some elements (like network effects) are emerging rather than fully established.
Repligen (RGEN) Q2 2025: Chromatography Revenue Surges 40%, Outpacing Bioprocessing Market Growth
Repligen demonstrates a long reinvestment runway, strong order momentum, improving unit economics, and a self-reinforcing business model. Customer value is deepening and the business is in growth mode, but future growth, while strong, is not exceptional (guidance raised to mid-teens rather than 30%+). The business model is semi-disruptive with some lateral opportunity, but not a clear category-defining disruptor. Cash flow is improving but not yet accelerating. The signal is strong but not at the highest tier.
AtriCure (ATRC) Q2 2025: Pain Management Franchise Surges 43%, Accelerating Non-Opioid Adoption
AtriCure demonstrates strong growth, improving unit economics, and a self-reinforcing model in pain management and appendage franchises. However, while growth is robust, the business is not in the hypergrowth (>40%) category, and some segments (hybrid therapy) are under pressure. The business model is innovative but not fully disruptive, and future growth, while strong, is not exceptional across all segments.
Varonis (VRNS) Q2 2025: SaaS Mix Hits 69% as Cloud Security Expands Market Reach
Varonis demonstrates a strong SaaS transition, improving economics, and expanding TAM, but growth rates are solid rather than hyper-growth, and the business—though high quality—is not ultra-disruptive or accelerating at a 30%+ rate. Still, it is a growth business with a long runway and improving fundamentals.
LendingClub (LC) Q2 2025: Originations Surge 32% as Marketplace and Balance Sheet Model Drive Profitability
LendingClub demonstrates a long reinvestment runway, recent strong growth, improving unit economics, and compelling customer value expansion. While the business model is partially self-reinforcing and semi-disruptive, it does not reach the highest bar for network effects or disruption. Growth is robust but not extreme, and guidance is strong but not exceptional. The business is clearly in a growth phase with accelerating cash flow and profitability.
Wavelife Sciences (WVE) Q2 2025: Obesity Cohort Expansion to 32 Signals Accelerated Pipeline Ambition
Wavelife Sciences demonstrates a long reinvestment runway, significant cohort expansion, improving unit economics, and a self-reinforcing RNA platform. Customer value and business model disruption are present but not yet fully exceptional. The business is transitioning to growth with accelerating cash use, but revenue and EPS growth are not yet over 40%. The signal is strong for a late-clinical-stage biotech, but some elements (guidance, cash flow, disruptive impact) are not yet at the highest level.
Tradeweb (TW) Q2 2025: International Revenue Jumps 41% as Electronification Broadens
Tradeweb demonstrates strong growth, margin expansion, and international runway, with clear evidence of improving unit economics, self-reinforcing business model, and customer value expansion. However, the business is somewhat known and not an undiscovered growth story, with some execution risk and only moderate evidence of disruptive, exceptional future growth.
Qualcomm (QCOM) Q3 2025: Automotive and IoT Revenue Climb 21% and 24%, Extending Diversification Runway
Qualcomm shows clear evidence of a long reinvestment runway, with automotive and IoT driving high-growth, high-margin expansion. There is strong recent growth (over 20% in key segments), improving unit economics, and a self-reinforcing business model in the new verticals. However, the business is not a pure disruptor and faces significant competitive/geopolitical risk, and the data center opportunity is still nascent, which tempers the overall signal score. Cash flow growth is solid but not yet accelerating, and topline growth, while strong, is not at hypergrowth levels.
Vertiv (VRT) Q2 2025: Orders Top $3B as Backlog Climbs 21%, Powering Data Center Expansion
Vertiv demonstrates strong multi-year demand visibility, backlog growth, and margin recovery potential, indicating a business with a substantial runway and improving economics. However, the business is well-followed, and while growth is robust, it's not an undiscovered story, tempering the signal score. The disruption is moderate (not a pure disruptor), and some metrics (cash flow, growth rate) are strong but not at the highest possible level.
Montrose Environmental (MEG) Q2 2025: 35% Revenue Surge Highlights Organic Engine and Margin Expansion
MEG demonstrates a long reinvestment runway, strong organic growth, and improving unit economics, with clear cash flow acceleration and recurring revenue. However, while the model is robust and semi-disruptive, it is not fully self-reinforcing or highly disruptive, and growth, while strong, is not at the hyper-growth level. The business is a clear growth story but not a breakout, paradigm-shifting one.
Dexcom (DXCM) Q2 2025: Type 2 Non-Insulin Coverage Expands to 6M Lives, Unlocking New Growth Vector
Dexcom demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and deepening customer value. The expansion of coverage and innovation pipeline signal strong growth, though the business is not in hypergrowth territory (>40%), and some risks (CMS policy, margin normalization) temper the outlook. Still, the overall signal is strong and well-supported by recent developments.
Impinj (PI) Q2 2025: M800 Mix Drives 60%+ Gross Margin, Food Pilots Signal Next Leg
Impinj shows strong signals: expanding gross margin, new verticals (food), improving unit economics, and deepening customer value. However, while the growth runway is long and the business is transitioning to a platform model, some metrics (e.g., guidance for Q3/Q4, food ramp timing) are not yet exceptional or at full inflection. The business is not entirely disruptive, and while growth is robust, it is not at hypergrowth levels (>40% YoY).
Waystar (WAY) Q2 2025: Iodine Deal Expands TAM by 15% as AI Revenue Cycle Push Accelerates
Waystar demonstrates a strong reinvestment runway, clear unit economics improvement, self-reinforcing model, increasing customer value, and strong growth signals. However, while growth is robust, it is not at the most exceptional (40%+) level, and the business model, while innovative, is not fully disruptive relative to the highest bar. Cash flow is accelerating but not at the most aggressive pace, and revenue/EPS growth is strong but not hyper-growth.
iRhythm (IRTC) Q2 2025: Innovative Channels Drive 68% New Account Growth Surge
iRhythm demonstrates a long reinvestment runway and improving unit economics with clear operational leverage. There is a significant recent uptick in new account growth (+68%), and the model is becoming more self-reinforcing via EHR integration and innovative channels. Customer value is increasing, and the business is transitioning toward higher growth, but not at a hyper-growth (40%+) level. The business model is semi-disruptive with some lateral opportunities (AI, global expansion), and cash flow is improving but not accelerating dramatically. Guidance and backlog signal strong but not exceptional growth. The company is in a growth/transition phase, not a legacy stall.
EOS Energy (EOSE) Q2 2025: Shipments Surge 122% as Factory Automation Drives Margin Path
EOS demonstrates a long reinvestment runway, disruptive model, and operational leverage, with clear automation-driven margin expansion. There is a recent surge in shipments and backlog, and the business model is self-reinforcing. However, customer value deepening and future growth, while positive, are not yet exceptional or fully proven at scale. Revenue growth is strong but not yet at the highest tier, and cash flow is improving but not yet accelerating. The signal is high, but not at the absolute maximum due to some execution and order conversion risk.
Silicon Motion (SIMO) Q2 2025: PCIe5 SSD Revenue Jumps 75%, Setting Up $1B Exit Run Rate
Silicon Motion exhibits a long reinvestment runway, strong sequential growth, improving unit economics, and deepening customer value. The business model shows emerging self-reinforcement, and the business is transitioning into a growth phase with disruptive elements. However, while growth is strong, it is not yet at an exceptional or hyper-growth level (>30-40%+), and some segments remain in ramp or transition phases.
Capital Clean Energy Carriers (CCEC) Q2 2025: LNG Charter Backlog Hits 88 Years as Orderbook Shrinks
CCEC displays a long reinvestment runway with a major capex cycle, a deep charter backlog, and strong sector tailwinds. There is clear evidence of improving unit economics and a self-reinforcing model via long-term contracts and customer diversification. Customers are becoming more valuable as backlog and contract duration increase. While the business is not yet seeing exceptional (30%+) growth, it is solidly in growth mode with strong forward indicators. The model is semi-disruptive via multi-gas flexibility but not fully disruptive. Cash flow is solid but not yet accelerating sharply. Revenue and EPS growth are likely in the 20-40% range, not above 40%. The business is a clear growth story, not legacy or purely transitional.
Tyler Technologies (TYL) Q2 2025: SaaS Bookings Surge 48% Sequentially, Cloud Transition Drives Margin Expansion
Tyler Technologies is a strong recurring revenue compounding story with clear reinvestment runway (cloud flips, payments), improving margins, and high retention. However, it is a well-followed business and not a new or undiscovered growth story. Growth rates are solid but not at hypergrowth levels, and while the model is self-reinforcing and disruptive in the public sector, it is not a classic platform with network effects. The signal is strong for investors, but not exceptional for a widely-covered vertical SaaS leader.
Amicus Therapeutics (FOLD) Q2 2025: Pombiliti and Opfolda Surge 58% as Global Launch Accelerates
Amicus has a long reinvestment runway with high returns on capital in rare disease, and recent launches are driving significant growth (58% for new products). Unit economics and customer value are improving, and the business model benefits from high compliance and IP protection. However, while growth is strong, it is not at the most exceptional or disruptive level, and cash flow is only moderately accelerating. The business is transitioning from single-asset to multi-asset but is not yet a category-defining disruptor.
Ollie’s (OLLI) Q2 2025: 29 New Stores Drive 17% Unit Growth, Loyalty Flywheel Accelerates
Ollie’s demonstrates strong top-line and unit growth, improving unit economics, and a disruptive edge in closeout retail. Loyalty and supply chain are driving customer value and margin, and the business is scaling cash flow. However, while growth is robust, it is not at the extreme acceleration threshold for the highest scores, and network effects are not as strong as in platform businesses. The signal is strong but not exceptional by the most conservative standards.
Blue Owl Capital (OWL) Q2 2025: $55B LTM Capital Raised Sets Stage for Durable Fee Growth
Blue Owl demonstrates a long reinvestment runway, recurring fee growth, and strong unit economics with a permanent capital base. There is evidence of self-reinforcing model dynamics and increasing customer value, but growth, while robust, is not in the hypergrowth (40%+) category. The business is not highly disruptive but is scaling new verticals and channels. Cash flow is strong but not yet accelerating dramatically. This is a high-quality, growth compounder in the alternatives space, but not a new or unknown story with extraordinary upside.
AMG (AMG) Q2 2025: Alternative AUM Jumps 20%, Secular Growth Strategy Accelerates
AMG demonstrates a long reinvestment runway in alternatives, with strong recent growth (20% AUM jump), improving unit economics, and a self-reinforcing affiliate model. Customers (affiliates) are becoming more valuable, and the business is transitioning to a higher quality earnings base. However, while growth is robust, it is not at hypergrowth levels (>40%), and the business, while innovative, is not disruptive in the classic sense. Cash flow is improving, but not yet accelerating at the highest tier. The business is a clear growth story but not a breakout or undiscovered compounder.
MPWR (MPWR) Q2 2025: Enterprise Data Set for 30% Sequential Growth as Diversification Accelerates
MPWR demonstrates a long runway for reinvestment, strong sequential growth in enterprise data, and improving unit economics. The business model is becoming more self-reinforcing with diversification, and customer value is increasing. Guidance is strong but not exceptional (not >30% acceleration), and while the model is semi-disruptive, it does not meet the highest threshold for disruption. Cash flow is improving, but not yet accelerating, and revenue growth is robust but not consistently >40%. The business is clearly a growth business, but not at the most extreme levels of signal.
BrightSpring Health (BTSG) Q2 2025: Specialty Scripts Jump 38% as LDD Pipeline Expands
BrightSpring demonstrates a long reinvestment runway at attractive returns, with clear evidence of operational leverage and compounding advantages in specialty pharmacy. Recent developments (38% specialty script growth, 29% EBITDA growth, LDD launches) show significant evolution. Unit economics are improving, and the business model is self-reinforcing. Customer value is increasing. However, growth guidance is strong but not exceptional (not >30% acceleration), and the business is semi-disruptive rather than fully disruptive. Cash flow is improving but not yet accelerating dramatically. Revenue and EPS growth are in the 20-40% range, not >40%. The company is a growth business, but not at the most explosive end of the spectrum.
AES (AES) Q2 2025: Renewables EBITDA Jumps 56% as Data Center Demand Fuels 12GW Backlog
AES demonstrates a long reinvestment runway with high returns on capital via renewables and grid investments. There is a significant backlog increase and strong growth, but not at an exceptional (40%+) rate across the whole business. Unit economics and customer value are improving with scale. The business model is self-reinforcing with some disruptive aspects, though not fully disruptive. Cash flow is improving but not accelerating at the highest level. Revenue and EPS growth are solid but not at the highest tier. AES is a growth business, but as a large, well-followed utility/IP, the signal is slightly muted versus a less well-known compounder.
ARES (ARES) Q2 2025: Perpetual Capital AUM Jumps $50B, Anchoring Durable Fee Visibility
ARES demonstrates a long reinvestment runway with substantial dry powder, a disruptive pivot to perpetual capital, and improving unit economics. Growth is robust but not at a hyper-accelerated level, and while the business is clearly in growth mode with strong secular tailwinds, some elements (like margin compression and deployment pacing) limit the signal from being maximal. The business model is self-reinforcing, customer value is deepening, and the forward outlook is strong, but not all metrics are exceptional.
SI-BONE (SIBN) Q2 2025: U.S. Physician Base Jumps 25%, Driving Platform Penetration
SI-BONE demonstrates strong signal with a long reinvestment runway, improving unit economics, and a self-reinforcing business model. Physician base and procedure density are compounding, and the business is transitioning to cash flow positive. However, while growth is robust, it is not at the highest acceleration levels in all areas, and some optionality (e.g., international) is still emerging rather than fully realized. The business is highly investable but not a clear outlier in disruptive potential or growth trajectory.
Lattice Semiconductor (LSCC) Q2 2025: Server Growth Surges 85% as AI Companionship Drives Design Win Momentum
LSCC demonstrates a strong reinvestment runway, clear business model advantages, and accelerating growth in key segments (notably servers/AI). Unit economics and mix shift are improving, with high-value new products driving margins. While the growth is robust, some elements (like industrial/auto) are still normalizing, and the business, while high-quality, is not entirely at the disruptive or hyper-growth end of the spectrum, warranting a slightly conservative signal score.
Apollo (APO) Q2 2025: Origination Volume Jumps 50%, Cementing Perpetual Capital Flywheel
Apollo is a large, well-followed asset manager with a strong growth profile but is not a new or undiscovered story. The business model is evolving with a long runway, but as a major incumbent, the upside is less dramatic than in a less mature disruptor. Nevertheless, the article surfaces clear evidence of accelerating origination, significant perpetual capital scaling, and improving unit economics, all of which are highly relevant signals for investors.
Lemonade (LMND) Q2 2025: Quota Share Cut to 20% Unlocks Margin Expansion and Revenue Upside
Lemonade demonstrates a long reinvestment runway, a disruptive business model, and a structural pivot with accelerating growth in key segments. However, while growth is robust, some metrics (retention, cash flow) are improving but not yet exceptional. The business is clearly in a high-growth phase with strong optionality, but not all signals are at the highest level.
DigitalOcean (DOCN) Q2 2025: AI Revenue Surges 100%, Setting New ARR High
DigitalOcean demonstrates a long reinvestment runway, disruptive business model, improving unit economics, and growing enterprise/AI adoption, but growth rates and guidance are strong rather than exceptional. While AI revenue is inflecting, some metrics like NDR and cash flow are not yet at 'exceptional' levels, so a conservative approach on signal is warranted.
Tygo (TYGO) Q2 2025: EMEA Revenue Climbs to 76% of Mix, Market Share Gains Accelerate
Tygo demonstrates a long reinvestment runway, accelerating growth, improving unit economics, and a self-reinforcing platform. Customer value is deepening, and the business is transitioning to positive cash flow. However, the growth outlook, while strong, is not at the most exceptional tier, and the business model, while flexible, is not fully disruptive. The capital structure overhang and moderate guidance revision temper the score.
ServiceNow (NOW) Q2 2025: AI Agentic Deals Up 50%, Accelerating Enterprise Platform Adoption
ServiceNow is a very strong, well-followed business, but not a new or undiscovered story. The article presents evidence of accelerating growth, expanding margins, and platform consolidation, but the reinvestment runway is not clearly uncapped (score reduced for question 1). Recent growth is strong but not at the very highest level (question 6, 9). The business model is semi-disruptive with strong self-reinforcing attributes, but not entirely unique. Signal is high, but not at the absolute maximum given the company's size, maturity, and visibility.
Mirion Technologies (MIR) Q2 2025: Nuclear Power Growth Raised to Double Digits as Installed Base Modernization Accelerates
Mirion demonstrates a strong reinvestment runway, improving unit economics, and a self-reinforcing business model with growing customer value. However, while growth is robust, it is not at the extreme acceleration level (over 30-40%) across all segments, and some aspects (like SMR) remain early-stage. The business is transitioning toward a growth profile but still faces timing and budget risks, keeping the signal score below the maximum.
ThredUp (TDUP) Q2 2025: New Buyer Acquisition Surges 74%, Powering Marketplace Flywheel
ThredUp demonstrates a long reinvestment runway, clear operational leverage, and self-reinforcing marketplace dynamics. New buyer acquisition and premium supply are accelerating, and AI-driven product improvements are compounding. However, while growth is strong, it does not reach the highest thresholds for exceptional acceleration or disruption, and some forward-looking elements (such as RAS) remain optionality rather than certainty.
Williams (WMB) Q2 2025: Project Backlog Drives $350M Guidance Raise, Extending Growth Visibility
Williams has a strong, visible growth runway and is executing well, but as a large, well-followed midstream with moderate growth (9% EBITDA guidance raise), the upside is significant but not explosive. Unit economics, backlog, and demand drivers are all strong, but the business is mature and not disruptive; signal is high but not at the level of a truly exceptional, under-the-radar compounder.
Xometry (XMTR) Q2 2025: Marketplace Gross Margin Surges 190bps as AI Drives Share Gains
Xometry shows a long reinvestment runway, improving unit economics, a compounding business model, and deepening customer value. However, there is no evidence of a recent 40%+ growth inflection, and while growth is strong, it does not exceed the highest thresholds. The business is disruptive and cash flow is accelerating, but macro caution tempers the signal slightly.
ThredUp (TDUP) Q2 2025: New Buyer Acquisition Jumps 74%, Igniting Marketplace Flywheel
ThredUp demonstrates a long reinvestment runway, improving unit economics, and a clearly self-reinforcing marketplace model. New buyer and order growth are exceptional, and AI/product investments are compounding. However, the business is not yet at an exceptional acceleration (guidance is strong but not hyper-growth), and RAS/platform optionality is early. The business is transitioning toward high growth, but not yet at the most disruptive/exceptional tier.
CareCloud (CCLD) Q2 2025: AI Team Expands to 200, Powering Margin Gains and New Market Entry
CareCloud shows strong operational leverage, platform stickiness, and self-funded AI-driven growth, with clear evidence of a reinvestment runway and business model improvement. However, while the growth outlook is solid, it is not yet at the level of hypergrowth or disruption that would warrant a perfect score. The inpatient market entry is promising but still early, and some metrics (e.g., revenue growth rates) are moderate rather than exceptional.
Unity (UNIT) Q2 2025: $1.5B Hyperscaler Funnel Signals Fiber-Driven Margin Upside
Unity shows strong signal: long reinvestment runway, accelerating fiber and hyperscaler demand, improving unit economics, and a disruptive model. However, some metrics (guidance revision, business model disruptiveness, and cash flow acceleration) are solid but not exceptional, and revenue/EPS growth, while strong, is not at hypergrowth levels. The business is a clear growth story but not at the most extreme end of the spectrum.
LIDR Q2 2025: Contract Wins Triple as Pipeline Matures Across 100+ Customers
LIDR demonstrates a long reinvestment runway, tripling contract wins and expanding its pipeline, with improving unit economics and a self-reinforcing business model. Customer value is increasing, and the business is positioned as a growth company. However, while growth is strong, it is not yet exceptional or at hyper-scale, and the business model is disruptive but not dominant. Cash flow is improving but not yet accelerating, and revenue growth is likely above 20% but not consistently above 40%. Signal is high but not at the maximum due to these moderating factors.
AEP (AEP) Q2 2025: Contracted Load Surges 20% to 24GW, Fueling $70B CapEx Expansion
AEP demonstrates a long reinvestment runway with high ROIC potential, a step-change in contracted load growth, and strong network effects via its transmission system. Unit economics and customer value are improving, and the business is positioned for durable growth, though not all signals (e.g., disruptive model, >40% growth) reach the highest bar for maximal scoring. The business is large and somewhat known, so signal is strong but not at the absolute maximum.
Expand Energy (EXE) Q2 2025: Synergy Target Jumps 50%, Unlocking $425M More Free Cash Flow
Expand Energy demonstrates a strong reinvestment runway, clear synergy-driven step-change in free cash flow, and improving unit economics with operational leverage. The business model is showing compounding advantages through integration and AI-driven efficiency, though customer value deepening and future growth are solid but not exceptional. The business is a growth story with accelerating cash flow, but not disruptive enough for a perfect signal score.
Cirrus (CERS) Q2 2025: IFC Revenue Surges 180%, Lifting Full-Year Guidance and Platform Momentum
Cirrus demonstrates strong growth characteristics: a long reinvestment runway, surging IFC revenue, improving unit economics, and a business model with increasing customer value and operational leverage. However, growth is not at the most exceptional levels (e.g., >40% company-wide), and while the model is innovative, it is not fully disruptive nor at the highest cash flow acceleration tier. The business is a growth story with some optionality, but not at the most extreme signal end.
Day One Biopharmaceuticals (DAWN) Q2 2025: Ojemda Scripts Jump 15% as Persistence Drives $140M+ Guidance
Day One is demonstrating strong commercial momentum, high persistence, and robust payer access, with a long reinvestment runway and improving unit economics. The business model is semi-disruptive with some self-reinforcing dynamics, but not fully at the level of a platform or network effect. Growth is strong but not yet exceptional (>30%+ acceleration). Forward guidance and pipeline catalysts support a growth narrative, but the company is not yet a runaway compounding giant.
GXO (GXO) Q2 2025: Organic Growth Accelerates to 6% as Wincanton Integration Unlocks $60M Synergy Path
GXO demonstrates a long reinvestment runway, strong organic growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening and the business is positioned for growth, but the growth outlook is strong rather than exceptional, and the business model, while tech-forward, is not fully disruptive. Cash flow is improving but not yet accelerating at the highest level, and revenue growth is strong but not hyper-growth. The company is a clear growth business with strategic inflections but not at the most extreme signal levels.
Payoneer (PAYO) Q2 2025: B2B Revenue Climbs 37% as Take Rate Expansion Drives Durable Margin
Payoneer demonstrates a strong reinvestment runway, disruptive business model elements, and improving unit economics. B2B revenue growth is substantial, and take rate expansion is a durable lever. However, guidance for future growth is solid but not exceptional (not >30% acceleration), and the business, while high quality, is not a newly discovered or niche opportunity. Cash flow is accelerating but not explosive, and while the business is solidly in growth mode, some elements (such as blockchain optionality) remain early-stage.
Trimble (TRMB) Q2 2025: ARR Surges 14% on Subscription Shift, AI Data Ambitions Accelerate
Trimble demonstrates a long reinvestment runway, robust ARR and margin growth, and improving unit economics. The business model is increasingly self-reinforcing, with deepening customer value and a defensible data/AI moat. However, while growth is strong, it is not at the highest acceleration tier, and the business, while transitioning, is not a new disruptor. Some risks and macro headwinds temper the signal score.
Gilat (GILT) Q2 2025: Stellar Blue Adds $36M, Driving 59% Commercial Growth and Guidance Raise
Gilat demonstrates a long reinvestment runway, clear recent business acceleration (notably in commercial and software), and improving unit economics. The business model is becoming more self-reinforcing, and customer value is increasing. However, while growth is strong, not all areas are exceptional or disruptive, and some aspects (like software transition and defense pipeline) are still emerging. Revenue and EPS growth are robust but not consistently over 40%, and the business is transitioning to growth rather than already being a hypergrowth disruptor.
WTTR Q2 2025: Water Infrastructure Margins Hit 55% as Asset Rationalization Accelerates
WTTR is showing clear evidence of a long reinvestment runway with high returns on capital, a significant margin step-change, and improving unit economics. The business model is self-reinforcing with increasing customer asset integration and network effects. Customer value is deepening, and backlog/guidance support strong growth, though not at an exceptional acceleration (>30%), hence a 1 for question 6. The model is semi-disruptive, and cash flow is growing but not yet sharply accelerating. Revenue/EPS growth is strong but not above 40%. This is a growth business in transition, not a legacy stall.
Arcutis (ARQT) Q2 2025: Zureve Franchise Drives 164% Revenue Surge as Steroid Conversion Accelerates
Arcutis is exhibiting strong growth, high reinvestment potential, and improving unit economics. There is clear disruption in a large, legacy market, but some uncertainties (Medicare access, pipeline risk) and the business, while promising, is not yet at the level of an exceptional, runaway growth platform. Signal is high, but not at the very top end.
Veracyte (VCYT) Q2 2025: Decipher Volume Surges 28%, Anchoring Multi-Year Growth Trajectory
Veracyte demonstrates a strong reinvestment runway, significant volume growth, improving unit economics, a self-reinforcing business model, and deepening customer value. However, while growth is strong and guidance is raised, the business is not entirely disruptive and future acceleration is promising but not exceptional. Cash flow is accelerating but not at a breakneck pace, and while it is a growth business, some elements (like MRD and digital pathology) are still in the pipeline and unproven at scale.
Sensonics (SENS) Q2 2025: New Patient Starts Jump 79% as Eversense 365 Drives Channel Shift
Sensonics is showing rapid growth, a disruptive model, and margin inflection, but not all metrics are at the highest inflection (e.g., growth acceleration is strong but not over 40%, and pipeline execution risk remains). The business is transitioning toward growth, with signals of a long runway, improving economics, and a shift to higher-value channels, but some uncertainty around reorder retention and pipeline execution tempers a perfect score.
Certara (CERT) Q2 2025: SIMSIP EMA Milestone and 50% QSP Biologics Mix Signal Expanding Biosimulation Demand
Certara demonstrates a long growth runway with regulatory moats, disruptive AI-enabled business model, and strong customer value expansion, but not all metrics are at the highest inflection (e.g., growth is double-digit but not >40%, and cash flow is improving but not yet accelerating dramatically). The business is clearly in a growth phase with compounding advantages, but the pace of exceptional acceleration is not fully evident.
Dutch Bros (BROS) Q2 2025: Shop Count Surges 16% as Transaction Initiatives Accelerate Brand Expansion
Dutch Bros demonstrates a long growth runway, strong unit economics, and a disruptive model with compounding advantages. There are clear transaction and expansion drivers, but while growth is robust, it is not yet at the extreme acceleration or disruption level that would merit a perfect signal score. The business is high-growth and investable, but not so exceptional or under-the-radar as to score higher.
DoorDash (DASH) Q2 2025: New Verticals Outpace Core, Driving All-Time High User Frequency
DoorDash demonstrates a long reinvestment runway, improving unit economics, and a self-reinforcing business model. New verticals and international expansion signal robust growth, though not at a pace to warrant the highest marks for acceleration (growth is strong but not >40%). The business model is semi-disruptive and evolving, with cash flow and recurring revenue improving but not yet at maximum acceleration. The company is transitioning toward a diversified growth platform, but competitive intensity and execution risks temper the signal score.
Viper Energy (VNOM) Q2 2025: 15% Per Share Production Growth Sets Up Capital Return Surge
Viper Energy demonstrates a strong capital-light royalty model with a long reinvestment runway, high ROIC, and clear production growth. The CITIO deal and Diamondback alignment support accretive growth. However, some elements (guidance, cash flow acceleration, business model disruption) are strong but not exceptional, and the business is relatively well-followed in the royalty space.
Corpay (CPAY) Q2 2025: Corporate Payments Hits 18% Organic Growth, Mix Shift Accelerates Portfolio Transformation
Corpay demonstrates a long reinvestment runway, clear business model transformation, and strong segment growth (notably in corporate payments and vehicle). While growth is high and the business is shifting toward disruptive, tech-enabled platforms, some segments (lodging) remain a drag and overall acceleration is strong but not at the highest tier. The business is not entirely unknown, and while the signal is high, it does not reach the absolute maximum due to these moderating factors.
Duolingo (DUOL) Q2 2025: Max Plan Share Climbs to 8% as Product Expansion Accelerates
Duolingo is growing rapidly with clear reinvestment opportunities, improved unit economics, and a self-reinforcing model. However, while growth is strong, it is not at a hyper-scaling (40%+) level, and some new initiatives (like Max retention and new subject monetization) remain unproven. The business is innovative but not uniquely disruptive, and while cash flow is improving, it's not yet a pure cash machine.
PX Q2 2025: Fee-Paying AUM Jumps 21% as Secondary and Credit Momentum Accelerate Platform Scale
P10 exhibits strong signal: long runway, self-reinforcing platform, improving unit economics, and customer value deepening. However, while growth is robust and strategy is innovative, the business is not exceptionally disruptive and guidance does not indicate >30% acceleration. The business is growth-oriented but not at the highest end of signal for disruption or acceleration.
GOGO (GOGO) Q2 2025: Equipment Revenue Surges 59% as Product Cycle Drives Connectivity Upgrade Wave
GOGO demonstrates strong reinvestment opportunities, a disruptive model, and improving unit economics. Equipment revenue is surging and OEM traction is high, but growth rates in service revenue and cash flow, while positive, are not yet at exceptional levels. The business is in transition, with high upside potential but some uncertainty until the 2026 inflection. The signal is strong but not at the very top end due to the transition phase and lack of current 40%+ growth.
Pennant Group (PNTG) Q2 2025: Home Health Revenue Jumps 28%, Southeast Expansion Set to Reshape Portfolio
Pennant demonstrates a long reinvestment runway, double-digit segment growth, improving unit economics, and a self-reinforcing model with rising customer value. The Southeast expansion is a material business evolution, but some uncertainty remains on near-term exceptional growth and cash flow acceleration. The business is disruptive but not category-defining, and growth prospects are strong but not at hypergrowth levels.
Talent Energy (TLN) Q2 2025: Freedom and Guernsey Add 40%+ Free Cash Flow Accretion, Sharpening PJM Growth Leverage
The article details a business with a long reinvestment runway (new acquisitions, data center exposure), strong unit economics, and self-reinforcing partnerships (AWS, PJM). The growth is robust but not hyper-accelerating (guidance reaffirmed, not raised). The business is semi-disruptive (data center power, merchant contracting) but not entirely novel. Cash flow is improving, but not at a runaway pace. The company is a growth business, but not at the very highest tier of signal.
Priority Technology (PRTH) Q2 2025: B2B EBITDA Jumps 146% as Recurring Revenue Hits 62%
Priority Technology demonstrates strong signals of a business in transition to a higher-margin, recurring revenue model with clear operating leverage, improving unit economics, and a disruptive, platform-based approach. However, the growth outlook (while positive) is not yet at the 'exceptional' acceleration level, and some areas (disruptiveness, cash flow ramp, and growth rates) are solid but not maximal. The business is investable and improving, but not at the highest tier of signal.
OneStream (OS) Q2 2025: International Revenue Jumps 34% as AI Bookings Surge
OneStream demonstrates strong international and AI-driven growth, improved unit economics, and a self-reinforcing SaaS/AI platform. However, some areas (future growth rate, disruptive potential, and cash flow acceleration) are promising but not yet exceptional or fully proven, warranting a conservative signal score.
Rocket Lab (RKLB) Q2 2025: Space Systems Hit $98M as Neutron Prepares for Launch Pad Debut
Rocket Lab offers a strong signal profile with vertical integration, expanding backlog, and high-margin segment growth. However, some areas such as future growth acceleration and disruptive potential are promising but not yet proven at an exceptional level, warranting a slightly conservative scoring. The business is clearly in a growth phase with improving economics and several potential valuation catalysts.
Atlassian (TEAM) Q4 2025: $1M+ Deal Count Doubles, AI Tailwind Accelerates Enterprise Cloud
Atlassian demonstrates a long reinvestment runway, strong compounding drivers (AI, cloud, enterprise), and improving unit economics. The business is not fully disruptive but is semi-disruptive and growing at a strong (but not hypergrowth) rate. Backlog and RPO growth are robust, but guidance remains somewhat conservative and AI monetization is not yet exceptional. The business is thesis-relevant but not an undiscovered or explosive inflection.
Westrock Coffee (WEST) Q2 2025: EBITDA Doubles Sequentially as Conway Ramps and Cross-Sell Accelerates
Westrock shows strong reinvestment runway, recent step-change in growth (EBITDA doubling), improving unit economics, and a self-reinforcing model (cross-sell, analytics). Customer value and growth outlook are positive, but not yet at 'exceptional' levels. The business is semi-disruptive and cash flow is improving, but not yet accelerating at the highest tier. Revenue/EPS growth is strong but not over 40%. Overall, high signal but not the absolute highest growth/optionality.
Sezzle (SEZL) Q2 2025: Marketing Spend Jumps 780%, Fuels 76% Top-Line Surge and User Expansion
Sezzle demonstrates a long reinvestment runway (marketing, product expansion), strong recent growth (76% revenue, 74% GMV), improving unit economics, and a business model with emerging self-reinforcing features (credit controls, user migration). Customer value is increasing, but future growth outlook, while strong, is not yet exceptional. The business is semi-disruptive in BNPL but faces strong competition and some maturity in the space. Cash flow is improving but not yet accelerating, and projected growth is high but not consistently above 40%. Overall, this is a growth business with significant but not extraordinary signal.
IAS (IAS) Q2 2025: Optimization Pricing Jumps 10% as AI-Driven Product Suite Expands
IAS demonstrates strong growth, premium pricing power, expanding margins, and a clear AI-driven product advantage. The business is not yet showing hypergrowth or truly exceptional acceleration (guidance is for low-double-digit growth), and while the business model is modern and has runway, it is not disruptive at the scale of a platform or network effect business. Cash flow is improving but not yet accelerating. Overall, this is a high-quality, growth business with some signal but not extreme upside.
NERDY (NRDY) Q2 2025: ARPUM Jumps 24% as LivePlus AI Drives Retention and Margin Upside
NERDY demonstrates strong signals: long reinvestment runway, business model inflection, improving unit economics, customer value deepening, and a disruptive AI-enabled model. However, while growth is accelerating and profitability is near, some signal questions (guidance, disruptive potential, and cash flow) are not at the highest possible level, and the business, while interesting, is not a massive, underfollowed outlier.
HASI Q2 2025: Pipeline Surges Past $6B, Capital Efficiency Triples with CCH1
HASI demonstrates a strong reinvestment runway, with a rapidly expanding and diversified pipeline, and clear improvement in capital efficiency and recurring income. While growth is robust, it is not at hypergrowth (40%+) levels, and the business, though innovative in structure, is not a fundamentally disruptive model in the tech sense. The business is transitioning to a higher-margin, capital-light model, but the overall growth and signal, while strong, are not at the very top end of the scale.
SCPH Q2 2025: Ferosix Unit Shipments Jump 45% as Nephrology Uptake Accelerates
SCPH demonstrates strong growth signals: rapid adoption in a new specialty, accelerating volume, improving economics, and clear regulatory tailwinds. While the business is showing high momentum and optionality, some elements (like COGS reduction and cash flow inflection) are not fully realized yet, and the model, while innovative, is not fully disruptive at scale. Still, the signal is high for investors seeking growth and operational leverage.
AMTX Q2 2025: LCFS Credit Price Jumps 50% Unlock Multi-Segment Cash Flow Upside
AMETIS shows a long reinvestment runway, major regulatory-driven growth catalysts, and improving unit economics as scale increases. The business is self-reinforcing with credit stacking and policy alignment, and customer value is deepening through multiple segments. However, while the outlook is strong, the business is not yet exceptional or highly disruptive, and some growth is subject to execution and policy risk. Revenue and EPS growth are likely to exceed 20% but not 40%, and cash flow acceleration is present but not yet dramatic. The business is solidly in growth mode but not yet a breakout.
Bridger Aerospace (BAER) Q2 2025: Revenue Doubles on Record Super Scooper Utilization
Bridger Aerospace demonstrates a strong reinvestment runway, improving unit economics, and a business model that is evolving toward structural growth. While growth is robust, it is not at hypergrowth levels, and some elements (such as European expansion and full cash flow acceleration) remain prospective. The business is transitioning into a more durable, less seasonal model, but not all signal criteria are at the highest threshold.
Pinterest (PINS) Q2 2025: International Revenue Soars 65% as Visual Search and Gen Z Engagement Reshape Growth Curve
Pinterest demonstrates a long reinvestment runway, clear compounding advantages, and strong international and Gen Z-led growth. Unit economics and platform engagement are improving, and the business model is becoming more self-reinforcing. However, while growth is strong, it is not at the level of hypergrowth (40%+), and some elements (like margin expansion and cash flow) are moderating rather than accelerating. The business is transitioning to a more diversified, global model but is not wholly disruptive or in a phase of explosive acceleration.
Synaptics (SYNA) Q4 2025: Core IoT Revenue Jumps 55% as Wireless and Edge AI Drive Pipeline Expansion
Synaptics demonstrates a strong growth trajectory in core IoT with a long reinvestment runway and improving unit economics. There is clear evidence of self-reinforcing business dynamics and customer value deepening. While growth is robust, the business is not in hyper-growth territory (QoQ growth under 40%), and some elements (guidance, business model disruption, cash flow) are promising but not exceptional. The company is transitioning to a higher-growth, higher-margin profile but is not yet a breakout story.
Grindr (GRND) Q2 2025: Indirect Revenue Jumps 39% as Ad Platform Gains Traction
Grindr demonstrates a long reinvestment runway with high returns, rapid indirect revenue growth, and improving unit economics. The business is not fully self-reinforcing at platform level (ad side still maturing), but customer value is deepening and cash flow is accelerating. The model is semi-disruptive, with some legacy risk in brand advertising. Revenue and EPS growth are strong but not consistently above 40%. The company is a clear growth business, though not yet at the highest level of signal for a truly exceptional, dominant platform.
EVH Q2 2025: $1B Weighted Pipeline Signals 2026 Revenue Inflection
Evelyn demonstrates a long runway with high returns on capital, significant pipeline momentum, improving unit economics, and a self-reinforcing model via AI and contract structure. Customer value is deepening, but future guidance is strong rather than exceptional. The business is semi-disruptive but not category-defining, and cash flow is improving but not yet accelerating. Revenue and EPS growth are robust but not at hypergrowth levels.
AHR Q2 2025: Same-Store NOI Jumps 13.9% as Operating Portfolio Drives Multi-Year Growth Tailwind
AHR demonstrates a long reinvestment runway, strong recent growth, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and the business is positioned for continued growth, though not at a hyper-growth (40%+) level. The business model is moderately disruptive within the REIT space, and cash flow is improving but not accelerating dramatically. The company is transitioning to a higher-growth profile with robust execution, but the overall industry context and guidance suggest strong, but not extraordinary, signal.
PowerFleet (AIOT) Q1 2026: SaaS Revenue Climbs to 83% Mix, Accelerating Margin Expansion
The business demonstrates a long reinvestment runway, clear SaaS-driven inflection, and improving unit economics. Model self-reinforcement and customer value are evident, but some areas—such as future growth acceleration and the degree of business model disruption—are strong but not exceptional. Revenue and EPS growth are solid but not at the highest tier, and cash flow is improving but not yet accelerating at a disruptive pace.
NeurAxis (NRXS) Q2 2025: 46% Revenue Growth Sets Stage for CPT Code-Driven Inflection
NeurAxis demonstrates high growth, improving unit economics, and a disruptive model with clear upcoming catalysts. However, the business is still constrained by payer coverage, and while the growth outlook is strong, the inflection is not immediate and there is still execution risk. The signal is strong but not at the highest possible level due to these gating factors.
ARC (ARQ) Q2 2025: GAC Line Commissioned, Unlocking 25M Pound Capacity for High-Margin Expansion
ARC is at a clear strategic inflection with a long reinvestment runway (multiple GAC lines possible), strong margin expansion, and evidence of improving unit economics and customer value. The business model is becoming more self-reinforcing with regulatory and supply-side tailwinds, but not yet at the level of a true platform or network effect. Growth is strong but not hyper-scaling (>40%), and while cash flow is improving, it is not yet a cash machine. The business is growth-oriented but not highly disruptive or exceptional in its industry context, keeping signal below the maximum.
Sterling Infrastructure (STRL) Q3 2025: Backlog Soars 64% as Data Center Pipeline Redefines Growth Visibility
Sterling has a long reinvestment runway, a disruptive pivot to e-infrastructure, and a 64% backlog increase driven by data centers. Margins and cash flow are accelerating, and the business is solidly in growth mode. However, customer value deepening is only modestly evidenced, future growth is strong but not universally exceptional, and the business, while attractive, is not a true outlier in terms of signal versus best-in-class disruptors. Still, there is significant valuation upside and business evolution.
Venture Global (VG) Q2 2025: 89 LNG Cargoes Boost Contracted Backlog as CP2 Project Costs Rise to $29.5B
Venture Global demonstrates a long reinvestment runway, strong unit economics, and a self-reinforcing business model with high-value, recurring customers. There is notable growth and backlog expansion, but cost inflation and capital intensity temper the signal. While the business model is semi-disruptive and cash flow is accelerating, the guidance does not indicate truly exceptional future growth, and some risks remain. The business is clearly growth-oriented but not in the highest signal tier.
TOI (TOI) Q2 2025: Pharmacy Revenue Jumps 41% as Delegated Capitation Model Scales
TOI demonstrates strong growth in a scalable, margin-expanding business model with clear evidence of operating leverage and reinvestment runway. However, while growth is robust, it is not yet at an exceptional (30%+) acceleration across all segments, and some disruption risk remains from industry incumbents. The business is transitioning toward profitability with strong signals, but not all metrics are at the highest possible inflection.
Coherent (COHR) Q4 2025: Data Center and Comms Surge 51%, Portfolio Streamlined for Margin Expansion
Coherent is showing strong growth in core segments, clear margin expansion, and a strategic pivot to high-value markets with evidence of improving unit economics and recurring revenue. While the business is not entirely disruptive and some growth is moderating, the overall signal is strong with a long runway and positive inflection points, though not at the very highest level of exceptional/transformative growth.
FLYX Q2 2025: Challenger Fleet Boosts Margin, 67% EBITDA Loss Improvement Signals Operating Inflection
The business demonstrates a long reinvestment runway with high ROIC potential, significant growth in key areas (MRO, membership), and improving unit economics. The business model is becoming more self-reinforcing, and customer value is increasing. While growth is strong, it's not accelerating at an exceptional (30%+) rate across all metrics, and the business is still in transition rather than fully disruptive. Cash flow is improving but not yet at an accelerating pace. Revenue and EPS growth are strong but not at the highest tier. The company is a growth business but not yet a breakout, sector-defining leader.
SARO Q2 2025: Component Repair Margins Hit 29% as Platform Ramps Drive Multi-Segment Upside
Strong signal overall: CRS margin expansion, platform ramps, and backlog growth indicate a business with multi-segment upside and improving unit economics. However, the business is not highly disruptive (traditional MRO/repair), and while growth is robust, guidance and outlook do not imply >40% acceleration or truly exceptional future trajectory. Still, the business is moving into a higher quality mix and remains investable for growth-oriented funds.
Renew Energy (RNW) Q1 2026: Manufacturing EBITDA Jumps 43%, Underpins Portfolio Discipline
Renew Energy demonstrates a long reinvestment runway with high returns and significant recent growth in manufacturing EBITDA. Unit economics are improving, and the business model is becoming more self-reinforcing with vertical integration. However, customer value deepening is somewhat less clear, and while the growth outlook is strong, it is not yet at an exceptional, hyper-growth level. The business is transitioning to a growth phase, but still faces sector risks and some normalization in margins.
Hamilton Lane (HLNE) Q2 2026: Evergreen Platform Net Inflows Hit $1.6B, Accelerating Fee Rate Expansion
HLNE demonstrates a long reinvestment runway and strong growth in new, higher-margin products, with record inflows and improving unit economics. The business model is becoming more self-reinforcing, but network effects are not yet dominant. Customer value is deepening and cash flow is accelerating. While growth is strong, it is not yet at hypergrowth levels, and some technology initiatives are still in early stages.
TMC (TMC) Q2 2025: $23B NPV Validates Moat as Regulatory Certainty Accelerates Path to Production
The business has a long reinvestment runway, disruptive model, and is moving from speculative to de-risked with regulatory and capital-light execution. There is a clear step-change in project validation and regulatory momentum, but actual cash flow and customer value deepening are not yet proven at scale. Growth is strong but not yet at an exceptional acceleration, and some metrics (cash flow, customer value) are only moderately improving.
EVLV Q2 2025: ARR Surges 27% as Direct Fulfillment and Education Demand Drive Model Shift
EVLV demonstrates a long reinvestment runway, accelerating ARR, improving unit economics, and a self-reinforcing subscription model. Customer value is deepening and the business is transitioning toward growth, but guidance and backlog changes are strong rather than exceptional. The business model is partially disruptive. Cash flow is improving but not yet rapidly accelerating, and growth rates are robust but not hypergrowth.
NICE (NICE) Q2 2025: AI and Self-Service ARR Jumps 42% as CX1 Empower Drives Platform Shift
NICE demonstrates a strong platform shift with accelerating AI/self-service ARR, robust NRR, and deepening ecosystem integration. However, while growth is strong and disruptive, it is not at the most exceptional/accelerating level across all metrics (e.g., overall revenue/EPS growth is solid but not hypergrowth, some segments show drag, and future guidance is good but not explosive). The business is high quality with clear levers, but not an undiscovered or underappreciated growth outlier.
DeFi Technologies (DEFT) Q2 2025: AUM Climbs 23% to $947M, Altcoin Mix Drives Monetization Upside
DeFi Technologies demonstrates a long reinvestment runway, strong recent AUM growth, improving unit economics, and a business model that is becoming self-reinforcing. Customer value is increasing, but not at an exceptional rate, and while the business is disruptive and cash flow positive, the growth outlook is strong but not explosive. The signal is high but not at the level of an undiscovered or hyper-growth story.
T1 Energy (TE) Q2 2025: 473MW Utility Deal Sells Out 2025 Capacity, Supply Chain Localization Accelerates
T1 Energy shows a long reinvestment runway, rapid commercial momentum, and clear evidence of improving unit economics and customer value. The business model is policy-aligned and moving toward self-reinforcement, but execution and capital formation risks remain. Growth is strong but not yet exceptional (not >40% YoY), and while the business is transitioning to scale, it is not yet a giant or a truly disruptive model. The signal is high for investors tracking U.S. solar manufacturing inflections, but some upside is already priced in due to the well-telegraphed policy tailwinds.
Full Truck Alliance (YMM) Q2 2025: Transaction Service Revenue Jumps 39%, Reshaping Monetization Core
YMM is in a high-visibility transition with a long runway and improving platform economics. Transaction service revenue is accelerating and core user engagement is deepening, suggesting strong network effects and improving unit economics. However, near-term volatility from fee hikes and subsidy roll-off tempers the outlook, and while growth is robust, it is not at the highest acceleration tier. The business model is semi-disruptive but not entirely unique, and cash flow acceleration is present but not yet exceptional. The article surfaces these nuances, offering a realistic assessment of the signal.
AAPG Q2 2025: Olverembatinib China Sales Surge 93% as Dual-Engine Strategy Accelerates Hematology Expansion
AAPG demonstrates a long reinvestment runway, clear business evolution, and improving unit economics, with a self-reinforcing model and growing customer value. While future guidance is strong, growth is not yet exceptional globally and disruption is moderate outside China. Cash flow is improving but not yet accelerating. The business is in clear growth mode, but not at the highest possible signal threshold.
TIGR Q2 2025: Client Assets Surge 36% as Hong Kong Drives High-Quality Growth
TIGR shows a long reinvestment runway, significant recent growth, improving unit economics, and a self-reinforcing business model. Customer value is deepening, but the growth outlook is strong rather than exceptional. The business model is semi-disruptive with digital asset expansion but not fully disruptive. Cash flow is improving but not yet accelerating. Revenue and EPS growth are over 20% but under 40%, and the business is clearly in a growth phase. The signal is strong, but not at the maximum due to some limits in disruption and growth acceleration.
Alibaba (BABA) Q1 2026: AI Cloud Revenue Jumps 26%, QuickCommerce Hits 300M MAUs
Alibaba demonstrates a long reinvestment runway, strong cloud/AI growth, and improving unit economics in QuickCommerce. The business model is increasingly self-reinforcing, and customer value is deepening. However, while growth is strong, it is not at the most exceptional acceleration, and QuickCommerce remains on a path to profitability rather than already delivering it. The business is a growth platform, but as a large, well-followed company, the valuation upside may be more limited than for newer disruptors.
NIO (NIO) Q2 2025: Vehicle Margin to 16–17% in Q4 as L90, ES8 Ramp Drives Break-Even Push
NIO demonstrates a long reinvestment runway, improving unit economics, and a self-reinforcing business model. Customer value is deepening and the business is solidly in growth mode. However, while there is strong growth and margin expansion, the signal is slightly tempered by execution risk, reliance on a few model ramps, and the business being well-followed in the market.
Nvidia (NVDA) Q2 2026: Blackwell Drives 56% Data Center Surge, Annualized Networking Tops $10B
Nvidia demonstrates a long reinvestment runway, disruptive business model, and self-reinforcing ecosystem. There is a clear surge in growth (56% YoY in data center, networking nearly doubled), and unit economics are improving. However, the business is well-known, and while growth is strong, it is not accelerating at a truly exceptional (40%+) rate across all metrics. Risks and regulatory uncertainty temper the signal. The business is clearly a growth leader, but the opportunity is not undiscovered, hence a conservative signal score.
HPE (HPE) Q3 2025: Networking Operating Profit Surges to Nearly 50% of Total, AI Backlog Hits $3.7B
HPE is undergoing a major business model shift with a long runway in networking and AI, strong recurring revenue growth, and improving unit economics. AI backlog growth and networking profit mix are significant, but some signal points are moderated by margin volatility, integration risk, and the business being well-followed and not an undiscovered compounder. Still, the overall signal is strong for a large-cap transformation.
Salesforce (CRM) Q2 2026: Data Cloud Customer Growth Hits 140%, Fueling Agentic Enterprise Expansion
Salesforce demonstrates strong signal across multiple vectors: triple-digit growth in key AI/data products, clear margin expansion, and a business model shift toward AI-native and consumption-based revenue. However, as a mature, well-followed mega-cap, the reinvestment runway and revenue growth rates are solid but not exceptional, slightly capping the upside signal score.
Ciena (CIEN) Q3 2025: Interconnect Orders Set New Record, Fueling 17% Growth Outlook
Ciena demonstrates a long reinvestment runway, record growth in orders and backlog, improving unit economics, and a self-reinforcing business model. Customer value is deepening, and the business is positioned for high growth, but growth acceleration is strong rather than exceptional, and the model is disruptive but not at the highest tier. Cash flow is improving but not yet at maximum acceleration.
Cango (CANG) Q2 2025: 50 Exahash Scale Drives 44% BTC Output Surge as Asset-Light Model Takes Hold
Cango’s transformation and 44% sequential BTC output surge, with 50 exahash deployed, represent a major business evolution and a high growth inflection. The asset-light model, cash flow focus, and AI compute optionality provide strong signal, though network effects and customer value deepening are less clear at this stage. Runway and disruptive potential are strong, but not all aspects are fully proven yet.
AeroVironment (AVAV) Q1 2026: Backlog Surges to $4.2B as Defense Tech Pipeline Expands
AVAV demonstrates a strong reinvestment runway, major backlog growth, and improving unit economics. The business model is increasingly self-reinforcing with diversification and software integration. Customer value is deepening, and the company is positioned for further growth, though not all signals reach the highest possible upside (e.g., not all metrics exceed 40% growth, and some business model aspects are still maturing).
SailPoint (SAIL) Q2 2026: SaaS ARR Jumps 37% as AI and Machine Identity Drive Platform Expansion
SailPoint demonstrates strong growth, high attach rates, and expansion into new vectors (AI/machine identity), supporting a long reinvestment runway and improving economics. However, while growth is robust, it is not at the most exceptional levels (e.g., >40% across all metrics), and the business, though innovative, is not entirely disruptive nor unknown. Guidance is strong but not explosive. The model is self-reinforcing and customer metrics are positive, but the overall signal is high rather than extraordinary.
iSpire Technologies (ISPR) Q4 2025: $18M ODM Backlog Signals Global Nicotine Pivot Payoff
ISPR displays a long reinvestment runway, a disruptive pivot, and improving unit economics. The $18M backlog and Malaysian expansion are significant, but regulatory and execution risks temper the outlook. Growth is strong but not yet at the highest acceleration, and some elements (guidance, cash flow) are still in transition, capping the signal score below the maximum.
Marty Technologies (MRT) Q2 2025: Ride-Hailing Riders Double, Unlocking $3B Market Ambition
Marty is scaling rapidly with a long reinvestment runway, improving unit economics, and self-reinforcing platform dynamics. The business is in a high-growth phase, with doubling riders and drivers, and strong backlog/guidance improvements. However, while the growth is significant, the company's model is not fully disruptive on a global scale, and monetization is intentionally delayed, tempering the near-term signal. Cash flow is improving but not yet a 'machine,' and guidance, while strong, is not at the exceptional (30%+ acceleration) level. Overall, this is a high-signal, growth business with clear upside, but some elements (monetization delay, moderate risk) limit a perfect score.
Jabil (JBL) Q4 2025: AI Revenue Surges 25% as Data Center Demand Outpaces Capacity
Jabil demonstrates a long reinvestment runway in AI infrastructure, with a disruptive shift and strong margin/cash flow improvement. The business model is increasingly self-reinforcing, and customer value is deepening. However, while growth is robust, it is not yet exceptional or accelerating above 30-40%, and some segments are still in transition. The signal is strong but not at the highest possible level due to ongoing legacy headwinds and capacity constraints.
VCI Global (VCIG) Q1 2025: Technology Revenue Jumps 447%, Shifting Core Growth Engine
VCIG demonstrates a long reinvestment runway, high growth in technology, improving unit economics, and a self-reinforcing business model. Customer value is increasing, and the business is transitioning to a growth model. However, while growth is strong, it is not yet exceptional or disruptive at the highest level, and cash flow acceleration is moderate due to ongoing investment. The business is not a household name and lacks proven, giant-scale optionality, so the score is conservative.
AEHR (AEHR) Q1 2026: Manufacturing Capacity Expands 5X as AI Burn-In Demand Broadens
AEHR demonstrates a long reinvestment runway with a 5x capacity expansion aimed at high-growth AI and memory markets. There are significant developments (facility upgrade, deepening hyperscaler engagement), and unit economics have room to improve as consumables ramp. The business model shows elements of self-reinforcement and increasing customer value, but not at the level of a dominant platform. Growth outlook is strong but not yet at hypergrowth levels, and the business is transitioning to growth, not yet in the highest acceleration tier. Signal is strong but not exceptional.
Pinterest (PINS) Q3 2025: International Revenue Climbs 66%, Unlocking Global Monetization Runway
Pinterest demonstrates a long reinvestment runway, clear international growth inflection, improving unit economics, and a self-reinforcing business model. Customer value is deepening and the business is transitioning to higher growth, but some metrics (like overall revenue growth) are below the 20%+ threshold for top marks. The business is not entirely disruptive and cash flow acceleration is present but not explosive. Signal is strong but not exceptional due to the business's scale and partial maturity.
Park Aerospace (PKE) Q2 2026: Missile Materials Orders Jump, $5M Expansion Signals Defense Upside
Park Aerospace is at a clear inflection, with a multi-year defense-driven growth runway, sole-source status, and major capacity expansion. Unit economics and customer value are improving, and the business is transitioning into a growth phase. However, while growth is strong, it is not yet at an exceptional or hypergrowth level (over 40% annualized), and there are still execution and supply chain risks that cap the signal score.
NGL (NGL) Q2 2026: Water Disposal Volumes Up 14% as Delaware Basin Commitments Lock In Multi-Year Growth
NGL’s business model transition is well-advanced, with a long contracted runway, margin expansion, and strong operational leverage. However, while growth is robust and the business is moving toward cash flow strength, it is not a hypergrowth or truly disruptive model. Guidance is strong but not at the highest level of acceleration, and the water midstream sector is becoming more established.
ASML (ASML) Q3 2025: EUV Orders Reach €3.6B as AI Drives Segment Shift
ASML displays a long reinvestment runway, clear high growth in EUV orders, strong unit economics, and a self-reinforcing model with recurring revenue. Customer value is increasing and the business remains growth-oriented. However, guidance for 2026 is only flat with pockets of high growth, and while disruptive, the business is already well-known and widely followed, limiting the upside signal. Cash flow is growing moderately, not accelerating. Revenue growth is strong but not consistently above 40%.
CORT (CORT) Q3 2025: Hypercortisolism Tablets Surge 42.5% as Pipeline Expands Oncology Reach
CORT displays strong underlying growth, expanding end-markets, and a pipeline with multiple late-stage shots on goal, supporting high signal for long-term reinvestment and compounding. However, while growth is robust, near-term headwinds (margin mix, operational execution) and the company’s current scale mean it is not yet a breakout, high-velocity compounding story. There is moderate but not exceptional acceleration in future guidance, and while the business model is evolving, it is not yet fully disruptive or cash generative at scale.
Liberty Energy (LBRT) Q3 2025: Power Pipeline Doubles, 1GW Generation Target Drives Strategic Shift
Liberty is demonstrating a high-potential pivot with a long reinvestment runway, improved unit economics, and self-reinforcing technology advantages. The doubling of the power pipeline and shift to contract-backed infrastructure signal significant business evolution. However, the business is not yet in hypergrowth (>40%), and the model, while semi-disruptive, is not fully disruptive. Cash flow is improving but not yet at an accelerating pace, and forward guidance is strong but not exceptional.
Intuitive Surgical (ISRG) Q3 2025: Da Vinci 5 Drives 67,000 Procedures, Accelerating Adoption and Utilization
ISRG demonstrates a long reinvestment runway, strong platform adoption, improving unit economics, and a self-reinforcing model. Customer value is deepening, but forward growth, while strong, is not truly exceptional (guidance is for high teens, not >30%). The business model has disruptive elements but is not newly disruptive. Cash flow is robust but not rapidly accelerating. Growth rates are strong but not hyper-growth, and the business is mature-growth rather than early-stage. The signal is high, but the company is already well-followed, and upside may be capped by maturity and competitive pressures.
Lithia & Driveway (LAD) Q3 2025: Used Vehicle Revenue Jumps 11.8%, Powering Durable Earnings Mix Shift
LAD demonstrates a strong shift to recurring, higher-quality earnings and a resilient business model with improving unit economics and digital integration. However, its runway and disruptive potential, while notable, are not at the highest level; growth is robust but not hyper-scaling. The signal is strong for a mature industry leader, but not at the very frontier of growth or disruption.
PRG Q3 2025: Four Technologies GMV Up 160%, Offsetting Leasing Headwinds
PRG demonstrates a long reinvestment runway with clear BNPL growth, improving unit economics, and a shift to digital-first, but the business is not completely disruptive nor showing >40% growth at the consolidated level. While the BNPL segment is exceptional, the overall company is still offset by legacy headwinds, so signal is strong but not at the very highest level.
Ouster (OUST) Q3 2025: Sensor Shipments Up 85% as Software-Attached Model Drives Market Penetration
Ouster demonstrates a long reinvestment runway with high returns potential as less than 10% of customers are at production scale, and the business model is shifting to software-attached solutions with high stickiness. Recent developments are significant (85% shipment growth, 41% revenue growth), and unit economics are improving. The business model shows elements of self-reinforcement via software attachment, and customer value is deepening. However, while growth is strong, it is not yet at an exceptional acceleration (>30% guidance, but not >40%), and the business is still transitioning from pilot to production scale. The model is semi-disruptive but not yet dominant, and cash flow is improving but not yet accelerating. Revenue growth is solid but not explosive. The business is a growth story, but not yet at the highest tier of signal.
Digital Realty (DLR) Q3 2025: Backlog Climbs to $852M as AI-Driven Demand Tightens Capacity
DLR demonstrates a long reinvestment runway, strong backlog growth, improving unit economics, and compounding business model advantages. AI-driven demand and backlog visibility are strong signals, but growth rates and business model disruption, while notable, are not at the most extreme levels. Cash flow and revenue growth are solid but not hyperbolic, and while the business is clearly growth-oriented, some metrics (CapEx intensity, funding mix) temper the absolute signal.
Agilysys (AGYS) Q2 2026: Subscription Revenue Jumps 33%, Driving Ecosystem Expansion
Agilysys exhibits strong signals with accelerating subscription growth, high attach rates, record backlog, and international traction. The business model is increasingly self-reinforcing with improving economics and AI-driven differentiation. However, growth, while strong, is not yet at the 'exceptional' level for future guidance (>30% acceleration), and while disruptive, the business is not a category-defining outlier. Cash flow is improving but not dramatically accelerating, and while runway is long, the company is not entirely unknown or overlooked.
ATI (ATI) Q3 2025: Aerospace & Defense Hits 70% of Revenue, Margin Expansion Accelerates
ATI is showing strong momentum and structural margin expansion, with clear evidence of mix shift, operational leverage, and customer-backed growth. However, the business is not entirely disruptive or in hypergrowth mode, and while the runway is solid, it is not unlimited. Signal is high due to margin compounding, multi-year visibility, and sector tailwinds, but not at the level of a truly exceptional, transformative growth story.
SoFi (SOFI) Q3 2025: Fee-Based Revenue Surges 50% as Platform Diversification Accelerates
SoFi demonstrates a long reinvestment runway, disruptive business model, and strong growth in fee-based, capital-light revenue. There are major developments (fee revenue up 50%, LPB scaling, new products in AI/blockchain), strong unit economics, and clear self-reinforcing platform advantages. However, growth guidance is strong but not at the highest tier (not over 40% for all metrics), and while the business is transitioning to a platform model, some optionality and future guidance are not at the most exceptional level. Cash flow is improving, but not yet at full acceleration. The signal is high but not at the absolute maximum due to the scale and maturity of some segments.
Arcutis (ARQT) Q3 2025: Zareve Net Revenue Jumps 122% as Steroid Conversion Accelerates
Arcutis is showing clear evidence of an inflection, with strong revenue growth, operational leverage, and a long runway for reinvestment. There is a secular shift in the market (steroid conversion), improving unit economics, and new indications expanding the TAM. However, the business model is not yet fully self-reinforcing, and while growth is strong, it is not at the very top decile. Some pipeline optionality, but not a pure disruptor.
Tygo Energy (TYGO) Q3 2025: U.S. Sales Surge 68% as Repowering Drives Market Share Gains
Tygo Energy shows strong signals: a long reinvestment runway, a significant inflection in growth (especially in the U.S.), improving unit economics, self-reinforcing business model elements, and increasing customer value. While growth is strong, future guidance is stable rather than accelerating, and the business model is semi-disruptive (not fully disruptive). Cash flow is improving but not yet a 'machine,' and while growth is robust, it is not consistently above 40% for all metrics. The business is firmly in growth mode, but execution and refinancing risks temper the signal score.
CoStar Group (CSGP) Q3 2025: Residential Portals Revenue Jumps 31%, AI Spend Reallocated for Acceleration
CoStar demonstrates a long reinvestment runway, disruptive business model, and accelerating growth in key segments. There are significant developments (AI, M&A, bookings surge), improving unit economics, and deepening customer value. However, some signals are not exceptional (e.g., future guidance is strong but not explosive, and cash flow is not rapidly accelerating). The business is a clear growth leader but not at a hypergrowth inflection.
Axogen (AXGN) Q3 2025: Nerve Repair Revenue Jumps 23.5% as BLA Milestone Nears
Axogen demonstrates strong growth, expanding margins, and a clear reinvestment runway with a disruptive business model in an underpenetrated market. The BLA milestone is a major catalyst, but some signal questions are scored conservatively due to the lack of 40%+ growth, only incremental cash flow acceleration, and the business not being entirely disruptive or in hypergrowth. Nevertheless, the signal is strong, with most criteria met at a high level.
Expand Energy (EXE) Q3 2025: Hainesville Efficiency Cuts Well Costs 25%, Unlocks $150M CapEx Savings
EXE demonstrates a long reinvestment runway, a major operational inflection (well cost down 25%, production up), and improving unit economics. The business model is self-reinforcing with scale, and customer value is increasing. Guidance is positive but not exceptional (hence 1 for Q6). The business is semi-disruptive due to marketing evolution but not fully disruptive. Cash flow is strong but not yet accelerating at a breakneck pace. Revenue/EPS growth is likely above 20% but under 40%. EXE is firmly a growth business post-merger. While signal is high, the energy sector is competitive and some upside is already recognized by the market.
Stoke Therapeutics (STOK) Q3 2025: R&D Spend Jumps 70% as Phase III Enrollment Surges Past 200 Patients
Stoke demonstrates a long reinvestment runway (cash into 2028, pipeline expansion), a major clinical inflection (EMPEROR trial enrollment surge), improving unit economics as it scales (commercial buildout, robust cash), and a business model with emerging self-reinforcement (platform, stakeholder engagement). Customer (physician/caregiver) engagement is deepening. The future outlook is strong but not yet exceptional (pending pivotal data). The model is semi-disruptive but not category-defining yet. Cash flow is not yet accelerating, growth is strong but not hypergrowth, and the business is clearly in a growth phase. The signal is high for a late-stage biotech, but not at the highest level due to risk and lack of imminent, exceptional growth.
EXLS Q3 2025: Data and AI-Led Revenue Jumps to 56%, Reshaping Growth Trajectory
EXLS demonstrates a strong, durable pivot to AI-led solutions, with a majority of revenue now from data/AI and rapid growth in key verticals. The business model is increasingly self-reinforcing, with improving unit economics and expanding client value. However, while growth is robust, it is not at the hyper-scaling (40%+) level, and the business—while differentiated—is not entirely disruptive or unique in the broader tech landscape. Guidance is for sustained double-digit, not exceptional, acceleration.
Merion Technologies (MIR) Q3 2025: Nuclear Orders Surge 21% as Installed Base Drives Margin Expansion
Merion demonstrates a long reinvestment runway, recent double-digit growth in nuclear orders, improving margins, and a self-reinforcing business model. The business is transitioning toward higher growth, with strong cash flow acceleration and a disruptive element via SMR exposure. However, customer value deepening and future growth acceleration are moderate, not exceptional, and the business, while attractive, is not a hypergrowth outlier.
FinWise Bancorp (FINW) Q3 2025: Credit Enhanced Balances Jump 183%, Unlocking Fee Income Leverage
FinWise is showing high growth in a scalable segment with improving unit economics, self-reinforcing fintech partnerships, and revenue diversification. However, the business is not yet at an exceptional, breakout inflection and remains exposed to some execution and margin risks. The model is innovative for a small bank, but not disruptive at the industry level.
Meta (META) Q3 2025: CapEx Raised to $72B as AI Compute Demand Outpaces Expectations
Meta remains a well-known, scaled business with a strong growth profile and a clear investment cycle inflection. Signal is high due to accelerating CapEx, robust ad growth, and early hardware traction. However, given Meta's size and maturity, some questions (runway, disruption) are scored conservatively, and not every metric points to a truly exceptional growth phase.
KLA (KLAC) Q1 2026: Advanced Packaging Revenue Surges 70%, Expanding $11B Market Opportunity
KLA demonstrates a long reinvestment runway, clear business model compounding, and strong customer value expansion. Advanced packaging and process control are robust growth levers, but the business is not entirely disruptive and faces some growth headwinds (China, tariffs). While growth is strong, it is not at hypergrowth levels, and some metrics (cash flow, future guidance) are good but not exceptional.
MercadoLibre (MELI) Q3 2025: Brazil Shipping Costs Down 8%, Fueling User and GMV Acceleration
MercadoLibre demonstrates a long reinvestment runway, strong network effects, improving unit economics, and deepening customer engagement. There is evidence of disruptive business model elements and accelerating cash flow, but not all signals are at the highest level—some growth metrics are strong but not exceptional, and the business is well-known, slightly reducing the upside for new investors.
Amneal Pharmaceuticals (AMRX) Q3 2025: Biosimilar Pipeline Expands to Six as Guidance Rises Again
Amneal is transitioning into a higher-growth, higher-margin business with clear reinvestment runway, improving unit economics, and a disruptive model in biosimilars and specialty medicines. However, while growth is strong, it is not yet at the highest acceleration threshold in all areas, and some elements (GLP-1 entry, future pipeline) are still emerging rather than proven. The business is not so exceptional or unknown as to warrant a perfect signal score.
Ranpac Holdings (PACK) Q3 2025: Walmart Deal Unlocks $700M Revenue Opportunity, Automation Up 56%
Ranpac demonstrates a strong reinvestment runway, disruptive automation momentum, and high-value strategic partnerships. Unit economics and customer value are improving, and the business is transitioning into a growth model with durable margin expansion. However, guidance is only at the low end, and while automation is growing rapidly, overall revenue/EPS growth is not yet at the highest tier. The business is not entirely unique or unknown, and some risks (regional volatility, customer concentration) temper the signal score.
RITM Q3 2025: Asset Platform Surges Past $100B as Paramount and Crestline Deals Reshape Growth Playbook
RITM demonstrates a long reinvestment runway, significant recent growth, improving unit economics, and a self-reinforcing platform. The business model is moderately disruptive, with cash flow and growth accelerating, but not at the highest possible levels. The future outlook is strong but not exceptional, and while the company is transitioning to a platform model, execution and integration risks temper the signal.
Eli Lilly (LLY) Q3 2025: Incretin Portfolio Drives 54% Revenue Growth, Orforglipron Scales Global Ambition
Lilly demonstrates a long reinvestment runway, major growth from new products, and improving unit economics. The business model is self-reinforcing, customers are becoming more valuable, and forward guidance is strong but not exceptional. The model is disruptive with some lateral opportunities, and cash flow is growing but not accelerating. Growth rates are high but not consistently above 40%. Overall, the signal is strong but not at the highest possible level given the company's scale and maturity.
CPS Technologies (CPSH) Q3 2025: $15.5M Power Module Contract Signals Broad Demand Surge
CPS Technologies demonstrates a strong reinvestment runway, broad-based demand, and improving unit economics. The business model shows signs of self-reinforcement, and customer value is increasing. However, while growth is robust, it is not yet at an exceptional, hyper-scaling level, and some elements (disruptiveness, cash flow acceleration, and growth rates) are solid but not best-in-class. The company is a clear growth story but not a category-defining disruptor.
Travere Therapeutics (TVTX) Q3 2025: Filspari US Sales Surge 155% as FSGS Launch Readiness Accelerates
Travere's Filspari sales growth, regulatory wins, and pipeline progress signal strong business momentum and upside optionality. The business is not yet at the scale or disruption level of the most exceptional growth stories, and cash flow acceleration is moderate rather than explosive. The model is self-reinforcing in nephrology, but broader disruption is emerging, not entrenched. Growth is robust but not consistently above 40% at the consolidated level. Overall, the signal is high but not at the absolute top tier.
Cloudflare (NET) Q3 2025: RPO Jumps 43% as Enterprise Pipeline and AI Bets Accelerate Platform Shift
Cloudflare shows strong optionality, a long reinvestment runway, improving unit economics, and clear self-reinforcing dynamics. RPO and large customer growth are impressive, but AI-native revenue is still nascent, and the business, while high-growth, is not in hypergrowth territory (>40% YoY). The business model is semi-disruptive, and while cash flow is improving, it's not yet accelerating. The company is a growth business, but not an unknown or undiscovered story.
Coinbase (COIN) Q3 2025: Derivatives Volume Hits $840B, Driving Institutional Expansion
Coinbase demonstrates a long reinvestment runway, strong recent growth in derivatives, improving unit economics, and a self-reinforcing business model. Customer value is deepening and the growth outlook is strong, but not yet at the exceptional/accelerating level for all metrics. The business model is disruptive and moving toward greater cash flow, but expense growth and integration complexity temper the upside. The company is a clear growth business, but the competitive and regulatory environment introduces uncertainty.
Alchemy (ALKT) Q3 2025: Mantle Cross-Sell Drives 50% of New Sales, Reinforcing Platform Leverage
Alchemy is demonstrating strong growth, operational leverage, and high cross-sell momentum, with a large underpenetrated market and improving unit economics. However, while growth is robust (20-31%), it is not at the extreme hypergrowth end (>40%), and the business model, while strong and platform-based, is not wholly disruptive or unique. The signal is strong but not at the absolute highest level for a truly exceptional or underfollowed business.
NPKI Q3 2025: Rental Revenue Climbs 57% as Fleet Expansion Accelerates into 2026
NPKI demonstrates strong growth, improving unit economics, high customer stickiness, and a self-reinforcing business model with a clear reinvestment runway. However, while growth is robust, it is not yet at a hypergrowth or 40%+ level for all metrics, and some elements (like disruption and cash flow acceleration) are present but not at the highest possible level for maximum signal.
TG Therapeutics (TGTX) Q3 2025: Brionvi Net Sales Jump 93% as SubQ Pipeline Targets $10B MS Market
TG Therapeutics shows strong commercial momentum, a differentiated product, and a long reinvestment runway in a large market. There is clear evidence of improving unit economics, customer value, and a self-reinforcing model. However, while growth is robust, it is not yet at the exceptional acceleration level for future guidance, and the business, though disruptive, faces intense competition and some pipeline execution risk. The outlook is strong but not extraordinary, justifying a conservative score.
Axsome (AXSM) Q3 2025: 63% Revenue Surge Anchors Pipeline-Driven Growth Trajectory
Axsome shows strong growth, improving economics, and a diversified, late-stage pipeline, indicating a high-signal business with long runway and operational leverage. However, some elements (cash flow, disruptive model, growth rates) are not at the most exceptional level, so the score is slightly below the maximum.
HALO (HALO) Q3 2025: Royalty Revenue Surges 52% as Subcutaneous Therapies Expand Market Reach
HALO demonstrates a long reinvestment runway at high ROIC, significant recent growth in royalty revenue (52%), and improving unit economics. The business model is self-reinforcing, with expanding customer value and a strong outlook. However, while growth is robust, it's not at the extreme acceleration (>40% overall growth) that would warrant top marks for all categories. The business is disruptive but not entirely unique, and some growth is dependent on partner execution. Cash flow is strong but not yet at peak acceleration. The company is a clear growth business, but risks from integration and contract durability temper the overall signal.
Exact Sciences (EXAS) Q3 2025: Screening Revenue Jumps 22% as Cologuard Plus Adoption Accelerates
Exact Sciences demonstrates a long reinvestment runway with high returns, strong recent growth, improving unit economics, and a self-reinforcing model. Customer value is deepening and the business is a clear growth story. However, pipeline products (multi-cancer, MRD) are not yet material, and while disruptive, the business is not in a hyper-growth phase (>40% YoY), nor is cash flow yet accelerating at the highest levels. The outlook is strong but not truly exceptional at this stage.
Notable Signals (12-15)
Articles with useful investment signals worth considering
Tamborin Resources (TBN) Q4 2025: Beetaloo Drilling Cycle Hits 19-Day Best, Farm-Out and Gas Sales Catalysts Ahead
Tamborin exhibits a long reinvestment runway and is at a pivotal point with technical outperformance and infrastructure build. There is a significant development in drilling efficiency and potential for high growth, but recurring risks around regulatory hurdles and funding temper the signal. Unit economics are improving, and the business model has disruptive aspects, though not fully proven. Some metrics (like customer value and cash flow) are only moderately improving or not yet visible at scale. The business is transitioning to growth, but not yet at the level of a fully compounding, high-momentum growth engine.
Kura Oncology (KURA) Q3 2025: $105M Milestone Inflow Accelerates Ziftomenib Launch Readiness
Kura Oncology is positioned at a major inflection, with a potentially disruptive product launch, strong capital runway, and a broadening pipeline. There are clear growth catalysts and optionality, but some aspects (unit economics, customer value deepening, and cash flow acceleration) are not yet fully proven, keeping the score conservative.
ANI Pharmaceuticals (ANIP) Q2 2025: Cortrophin Gel Guidance Raised 21% as Rare Disease Momentum Accelerates
ANIP has a long reinvestment runway in rare disease with high returns, and recent growth in Cortrophin Gel is significant (66% YoY). Unit economics and customer value are clearly improving, but the business model is not deeply self-reinforcing yet (network effects are limited). The future outlook is strong but not exceptional (>30% growth only in rare disease, not total company). While the business is transitioning toward specialty, it is not fully disruptive or at giant scale. Cash flow is improving but not yet accelerating at a remarkable rate. The overall signal is high, but not at the highest possible level due to the absence of unique network effects or platform dynamics.
BYRN Q1 2025: Amazon Share Jumps to 32.6% of DTC Sales, Compact Launcher Readies Channel Expansion
Berna demonstrates a strong growth runway, with clear reinvestment opportunities (Amazon, CL ecosystem), improving unit economics, and a disruptive product cycle. However, while the business is showing high growth and margin expansion, network effects and business model self-reinforcement are still emerging rather than fully entrenched. The outlook is strong but not yet at the level of a truly exceptional, compounding platform business.
High Tide (HITI) Q3 2025: Bricks-and-Mortar EBITDA Jumps 42% as German Expansion Reshapes Growth Path
High Tide is showing strong growth and margin expansion, particularly in bricks-and-mortar and with its German acquisition. However, the business is not entirely disruptive and still faces challenges in e-commerce and integration risk. The reinvestment runway is solid but not exceptional, with some optionality in international expansion. Backlog/guidance is improving but not at an exceptional (30%+) acceleration. Unit economics and customer value are clearly improving, and cash flow is accelerating. The business is a clear growth story, but not a hyper-growth or highly disruptive model at this stage.
Turning Point Brands (TPB) Q2 2025: Modern Oral Revenue Jumps 8x, Driving Strategic Repositioning
TPB shows a strong growth inflection in modern oral, with 8x segment growth and raised guidance, supporting a high signal score. However, while the reinvestment runway and growth are strong, the business model is not fully disruptive and faces regulatory and competitive risks, tempering the score. Some elements (network effects, disruptive model) are present but not dominant, and not all metrics are at the highest threshold.
Opera (OPRA) Q1 2025: E-Commerce Advertising Soars 100%, Reshaping Revenue Mix
Opera's e-commerce ad growth is exceptional and reshaping its revenue mix, but the business is not a new discovery and is already tracked by many investors. Runway is moderate (not truly open-ended), and while unit economics and cash flow are improving, some elements (like network effects and disruption) are not as deep or defensible as in more unique platforms. Growth is strong but not at the highest end of the spectrum. The business is a growth story, but not a truly exceptional, under-the-radar opportunity.
Primoris (PRIM) Q2 2025: Utility Segment Margins Reach 12%, Expanding Multi-Year Earnings Power
Primoris shows strong growth, margin expansion, and backlog, but is not a hyper-growth, disruptive business with a massive reinvestment runway. Most signals are positive but not at the extreme end: runway is good but not exceptional, the business is growing fast but not at 40%+, and while there are secular tailwinds, the model is not deeply disruptive. Still, cash flow, margin, and customer value are all improving, with a strong forward outlook.
CWH Q2 2025: Used RV Sales Surge 20%, Driving Margin Expansion and Market Share Gains
CWH demonstrates strong growth in used RVs, margin expansion, and operational discipline, but is not a truly disruptive or high-ROIC, long-runway business. The business model is improving and showing some self-reinforcing elements, but is not exceptional or unique in its industry. Growth is strong but not explosive, and while the company is transitioning to a more resilient model, it is not a clear outlier for long-term compounding.
Pennant Group (PNTG) Q1 2025: 36 New Operations Drive 33% Revenue Surge, Margin Discipline Holds
Pennant demonstrates a long reinvestment runway and strong growth metrics, with 33% revenue growth and record admissions. Unit economics and customer value are improving. The business model shows some self-reinforcing features but is not deeply disruptive. The outlook is positive but not exceptional (guidance to top end, not raised). Cash flow is solid but not accelerating. Growth is strong but not at hypergrowth levels. The business is clearly in a growth phase, but sector dynamics and scale risks temper the signal.
EverQuote (EVER) Q2 2025: Carrier Spend Up 61% as AI-Driven Efficiency Lifts Margins
EverQuote shows strong recent acceleration in carrier spend and profitability, with AI as a major lever. However, the business, while showing growth and improved margins, is not yet a clear outlier in terms of optionality or disruptive potential compared to more unique platforms. The signal is high due to broad-based carrier recovery and AI-driven efficiency, but the runway, while solid, is not exceptional or unique enough for a top score.
Outset Medical (OM) Q2 2025: Console Revenue Jumps 20% as Enterprise Sales Transformation Gains Traction
Outset Medical shows strong growth and a long runway, with clear margin expansion and enterprise sales traction. However, recurring revenue growth, while robust, is not yet at an exceptional level, and the business model, while semi-disruptive, is not fully transformative. Cash flow improvement is evident but not yet accelerating, and revenue growth is in the 15–20% range, not above 20%. The signal is strong but not at the highest level for disruptive, high-upside businesses.
SunOpta (STKL) Q2 2025: Fruit Snacks Capacity to Jump 25% as Category Drives Multi-Year Growth
SunOpta demonstrates a long reinvestment runway (capacity expansion, high ROIC projects), strong growth in core categories, and improving unit economics. While the business is not a classic platform compounding with network effects, customer value is deepening and growth rates are robust. Backlog/pipeline is strong but not at a hypergrowth inflection, and the business is more of a high-quality compounder than a disruptive breakout, warranting a slightly conservative signal score.
Pulse Biosciences (PLSE) Q1 2025: Cash Jumps to $119M as NSPFA Clinical Momentum Builds
Pulse Biosciences demonstrates a long reinvestment runway and disruptive platform potential, with significant recent developments and regulatory tailwinds. However, unit economics and customer value deepening are still emerging rather than fully proven, and growth—while strong—is not yet exceptional or consistently above 40%. Cash flow is not yet accelerating, and while the business is transitioning to growth, some execution risks remain. The signal is strong, but not at the highest level due to the early stage of commercial traction.
NUTX Q1 2025: Arbitration Drives 240% Hospital Revenue Surge, Expands Cash for Growth
NUTX presents a strong signal with a long reinvestment runway, a disruptive arbitration-driven business model, and a major recent surge in revenue and cash flow. However, the self-reinforcing aspects and customer value deepening are present but not yet dominant, and future growth—while promising—is not guaranteed to be exceptional or consistently >40%. Risks around normalization and regulatory shifts slightly temper the signal.
Brinker International (EAT) Q4 2025: Chili’s Traffic Jumps 16%, Unlocking Margin and AUV Expansion
While the business is showing strong growth, margin expansion, and operational improvements, it is not a highly disruptive or under-followed story. The reinvestment runway is moderate (not long), and network effects or model self-reinforcement are present but not dominant. Growth is strong but not at the highest tier for signal, and Maggiano’s remains a drag. However, the recent traffic and sales acceleration, margin gains, and capital allocation shift to growth are all highly relevant signals.
QBTS Q1 2025: System Sale Drives 509% Revenue Surge, Model Shift Gains Traction
QBTS demonstrates a disruptive model with a long runway and technical edge, validated by a step-change in revenue/margin from system sales and a strong cash position. However, recurring revenue is still nascent, bookings are volatile, and underlying customer growth is modest. While the business is transitioning to higher growth, the durability of system sales and the pace of pipeline conversion remain unproven, tempering the signal score.
Humacyte (HUMA) Q2 2025: Hospital Access Expands 16x as SimVest Pricing Reset Drives Uptick
Humacyte demonstrates a disruptive model with a long runway, strong early growth signals, and a major inflection in hospital access. However, recurring revenue and payer adoption are not yet proven, and some metrics (unit economics, customer value) are early-stage or only modestly improving. The business is transitioning to growth, but not yet at scale or with exceptional near-term acceleration.
RegenxBio (RGNX) Q1 2025: $110M Upfront Fuels Pipeline as RGX202 Trial Surpasses 50% Enrollment
RegenxBio has a long reinvestment runway, several disruptive gene therapy programs, and is entering a commercial inflection with strong non-dilutive funding and manufacturing scale. The business model is self-reinforcing, and multiple regulatory and commercial catalysts are on the horizon. However, some unit economics and customer value deepening are only modestly improving, and revenue acceleration, while strong, is not yet at hypergrowth levels. The signal is high for a late-stage biotech, but not at the maximum due to these moderations.
TE Connectivity (TEL) Q4 2025: Industrial Segment Grows 34%, AI Revenue Triples to $900M
TE Connectivity is a large, well-followed business, so upside is somewhat capped, but the article demonstrates strong signal in growth, margin, and capital allocation. The industrial segment's growth, AI revenue tripling, and strong cash flow are notable. However, the reinvestment runway and self-reinforcing model are not fully exceptional, and the business, while evolving, is not truly disruptive or likely to deliver 40%+ growth. The signal is strong but not at the highest tier.
Rhythm Pharmaceuticals (RYTM) Q1 2025: Global BBS Patient Base Up 14% as HO Launch Prepares for Acceleration
Rhythm shows strong growth signals: rapid patient expansion, a disruptive rare disease model, and multiple upcoming catalysts. However, some metrics (unit economics, customer value, cash flow) are only moderately improving or somewhat opaque, and the self-reinforcing nature of the business model is emerging but not yet entrenched. The company is a clear growth story, but not yet demonstrating giant-scale compounding.
Cellcuity (CELC) Q1 2025: R&D Spend Jumps 56% as Pivotal Victoria 1 Data Nears
Cellcuity is at a major binary inflection with a pivotal trial, showing high R&D reinvestment and the potential for significant value creation. The business model is disruptive with pipeline breadth, but unit economics and self-reinforcement are not fully proven yet. Growth is contingent on clinical success, so while the upside is large, risks and execution challenges temper the overall signal.
Zscaler (ZS) Q4 2025: ARR Surpasses $3B as Zero Trust Everywhere Adoption Accelerates
Zscaler demonstrates strong platform economics, deepening customer value, and operational leverage. However, net new ARR guidance signals slowing growth and the business, while still strong, is entering a more mature phase. There is high signal from platform expansion and innovation, but not enough for the highest marks on explosive growth or disruption.
XOS (XOS) Q2 2024: Step Van Deliveries Surge 227% as Hub Charging Pipeline Builds
XOS demonstrates strong growth signals: a 227% delivery increase, expanding product lines, and national fleet penetration. However, some elements (customer value deepening, cash flow acceleration, and future growth guidance) are positive but not exceptional. The business model is disruptive and has a long runway, but margin volatility, working capital drag, and reliance on incentive-driven cycles temper the overall signal. The company is clearly a growth business but faces material execution and liquidity risks.
NuScale (SMR) Q1 2025: Cash Reserves Climb to $521M as Firm Order Pipeline Advances
NuScale has a long reinvestment runway and a disruptive business model with regulatory and manufacturing advantages. A recent revenue uptick and pipeline momentum are evident, but the business is not yet at massive growth or cash flow inflection—contract conversion remains a binary near-term catalyst. Unit economics and customer value are improving but not yet exceptional. The business is not widely followed, so the signal is strong, but not at the absolute highest level due to the current lack of contract conversion.
BioMarin (BMRN) Q2 2025: Operating Cash Flow Jumps 55% as Pipeline and Portfolio Investments Accelerate
BioMarin demonstrates strong growth, accelerating cash flow, and a robust pipeline with significant upcoming catalysts. However, the reinvestment runway and self-reinforcing model are not best-in-class, and while growth is strong, it does not consistently exceed 40%. The business is solidly growth-oriented but not exceptionally disruptive or unique versus other rare disease peers.
Newmark (NMRK) Q3 2025: Capital Markets Revenue Jumps 60% as Global Expansion Accelerates
Newmark is showing strong growth, margin expansion, and recurring revenue gains, but as a commercial real estate services company, the reinvestment runway and disruptive potential are somewhat limited versus true high-growth disruptors. The business is not new or undiscovered, but the recent acceleration and mix shift are material, supporting a solid—though not top-tier—signal score.
Amylix Pharmaceuticals (AMLX) Q1 2025: Expenses Down 82% as Pipeline Milestones Stack Up
Amylix presents a strong signal with a long reinvestment runway, multiple binary catalysts, and a disruptive rare disease pipeline. The business is transitioning to a pure-play clinical model with substantial optionality and potential for high returns if trials succeed. However, customer value deepening and self-reinforcing dynamics are only emerging, not yet proven, and growth visibility is contingent on clinical outcomes. The business is not yet a cash flow machine, and while the upside is significant, the binary risk tempers the overall signal.
Sentient Technologies (SXT) Q1 2025: $10M Tariff Cost Spurs CapEx Pivot as Natural Color Demand Accelerates
Sentient is at a major inflection with a long reinvestment runway, disruptive regulatory-driven demand, and self-reinforcing technical moats. Revenue growth and cash flow are improving, but not at hypergrowth levels yet; the business is not entirely exceptional on all metrics (e.g., unit economics and customer value are improving but not at giant scale). Still, the signal is strong given the scale of the conversion cycle and strategic positioning.
TIGR Q1 2025: Funded Accounts Jump 111%, Hong Kong Drives Asset Inflow Surge
TIGR demonstrates a long reinvestment runway in Asia with high returns on capital, record-breaking growth in funded accounts and assets, and improving unit economics at scale. The business model shows some self-reinforcing elements (product innovation, regional focus), but network effects are not fully proven. Customer value is deepening, and growth is robust, but not at a hyper-scaling (40%+) level across all metrics. The business is disruptive in its market, but faces rising CAC and execution risk. Cash flow is improving, but not yet a cash machine. Overall, signal is strong but not at the absolute highest tier due to competitive and cost risks.
Taysha (TSHA) Q1 2025: FDA Alignment Accelerates Pivotal Trial Pathway for Rett Gene Therapy
Taysha demonstrates a disruptive model with a long runway, regulatory acceleration, and a pivotal trial that could unlock significant value. However, evidence of deepening customer value and self-reinforcing dynamics is still emerging, and cash flow acceleration is not yet clear. Growth is strong but not yet at the highest threshold, and some risks around execution remain. The business is clearly growth-stage but not yet at the inflection point for maximum signal.
Western Digital (WDC) Q1 2026: Cloud Revenue Hits 89% Mix as Exabyte Demand Drives 660bp Margin Lift
WDC is executing a major pivot with visible growth and margin expansion, but as a large, well-followed company, upside is somewhat capped. There is strong evidence of business model evolution, margin/cash flow inflection, and customer commitment. However, the business is not truly disruptive and faces concentration and execution risks. The reinvestment runway is solid but not exceptional, and while growth is strong, it is not at hypergrowth levels.
TerraWolf (WULF) Q1 2025: $65M CapEx Bump Drives 14% Higher HPC EBITDA, Anchoring Data Center Expansion
TerraWolf is at a business model inflection with a long runway for high-return reinvestment as it transitions into HPC hosting. There is a significant capex-driven growth initiative, with clear margin expansion and strong self-reinforcing infrastructure advantages. However, while the business is moving toward higher-value customers and cash flow, customer value deepening and exceptional future growth are not yet fully proven. The opportunity is attractive but not yet at the highest tier of signal.
Freeport-McMoRan (FCX) Q2 2025: U.S. Copper Premium Surges 3x, Unlocking $1.7B Margin Upside
FCX is a large, well-followed business with clear margin and cash flow upside from the U.S. copper premium and operational innovation, but its reinvestment runway is not as long as a true disruptor, and long-term growth is moderate. The premium surge is a major event, unit economics are improving, and the business is self-reinforcing. However, some drivers (policy, tariffs, gold production) are volatile, and the business, while advantaged, is not an undiscovered or high-optional compounder.
TBBK Q2 2025: Share Repurchase Program Expands 300% as FinTech Fee Engine Accelerates
TBBK's strategic pivot to fintech and fee-based growth is significant, with clear evidence of accelerating financials and a business model transition. However, the company is not entirely unique or undiscovered, and while growth is strong, the long-term reinvestment runway and self-reinforcing advantages are not yet at the highest level. The signal is high but not extraordinary for a well-followed fintech infrastructure play.
ASML (ASML) Q2 2025: EUV Capacity Up 30%, But Tariff Uncertainty Clouds 2026 Growth Visibility
ASML demonstrates a long reinvestment runway, improving unit economics, self-reinforcing business model, growing customer value, and strong recurring revenue, all supported by transcript evidence. However, there is no clear signal of a recent, massive growth inflection (e.g., 40%+ backlog or revenue surge), and the outlook for 2026 is clouded by tariff uncertainty, tempering the near-term signal. The business is disruptive and growth-oriented but not at the very highest level of acceleration per rubric.
TE Connectivity (TEL) Q3 2025: AI Revenue Surges 167% to $800M, Driving Margin Expansion
TE Connectivity is showing strong growth and margin expansion driven by secular AI and energy trends, with a step-change in AI-related revenue and industrial margin performance. However, while the business is exhibiting above-market growth and improved economics, its reinvestment runway and disruptive potential are somewhat constrained by its industrial nature and exposure to cyclical transportation markets. The signal is strong but not at the level of a highly disruptive, giant-in-the-making business.
NextEra Energy (NEE) Q2 2025: Renewables Backlog Hits 30GW as Storage Surges to 30% of Pipeline
While the renewables and storage backlog growth is impressive, NextEra is a well-known, mature leader in the sector. The business has a long runway but faces some regulatory and policy headwinds, and its growth, while robust, is not at the most disruptive or exceptional level. The model is self-reinforcing and customer value is deepening, but the company is not unknown or overlooked. The signal is strong but not at the absolute highest level for a new, underappreciated compounder.
Duolingo (DUOL) Q1 2025: Max Tier Hits 7% of Subs, Accelerating Platform LTV Shift
Duolingo demonstrates a long reinvestment runway with high ROIC potential, self-reinforcing business model, improving unit economics, and increasing customer value. However, there is no evidence of a recent massive backlog or >40% growth inflection, so question 2 is scored 0. Growth is strong but not at hypergrowth levels, and cash flow is improving but not yet accelerating. The business remains disruptive with a multi-subject platform ambition, but near-term margin headwinds and the absence of a huge recent inflection cap the score.
Comstock (LODE) Q2 2025: $27.6M Equity Raise Secures Solar Recycling Expansion and Debt-Free Path
Comstock demonstrates a long reinvestment runway with high ROIC potential, a recent transformative capital event, and clear growth acceleration in a nascent market. Unit economics are strong, and the business model is disruptive with regulatory tailwinds. However, there is some uncertainty around customer value deepening, self-reinforcement, and the pace of cash flow acceleration, warranting a slightly conservative score.
Core Medics (CRMD) Q2 2025: Malinta Deal Adds $125M Revenue, Unlocking Specialty Pharma Scale
The Malinta acquisition provides a long reinvestment runway and immediate scale, with potential for high ROIC and growth. There is a significant revenue step-up and strong cash flow inflection. However, some elements (network effects, deepening customer value) are present but not fully proven or exceptional, and pipeline success is still contingent. The business is now a growth platform, but some uncertainties on execution and competitive dynamics temper the signal score.
GAMB Q2 2025: Sports Data Revenue Quadruples, Shifting Mix Reshapes Margin Outlook
The business is showing strong growth and a clear pivot to recurring, higher-quality revenue, with a long reinvestment runway and improving unit economics. However, the business is not especially unique or disruptive versus peers, and while growth is strong, it is not at hypergrowth levels. There are some lateral opportunities, but the model is not truly exceptional or category-defining.
KULR Q2 2025: Product Revenue Jumps 74% as Platform Shift Outpaces Service Decline
KULR demonstrates a strong business model pivot, high product revenue growth, and a disruptive treasury strategy, but margin volatility, execution risk, and product adoption uncertainty temper the signal. The reinvestment runway and growth prospects are strong, though not yet proven at scale. Some elements (customer value, business model self-reinforcement) are still emerging, not fully established.
AuthID (AUID) Q2 2025: Booked ARR Jumps to $2.2M as Enterprise Pilots Accelerate Time to Revenue
AuthID is transitioning to a high-growth phase with a disruptive, enterprise SaaS model and strong pipeline momentum. The business shows clear signs of unit economics improvement, a long reinvestment runway, and accelerating ARR/backlog. Some elements (network effects, customer value deepening, and cash flow) are still emerging rather than fully compounding, and the business is not yet at the scale of a giant. Signal is strong, but not at the highest possible level.
KARO (KARO) Q1 2026: Southeast Asia Subscriber Growth Accelerates 22%, Extending Platform Expansion
KARO demonstrates strong growth, expanding into new geographies with accelerating subscriber and revenue growth. The SaaS model is high-margin and self-reinforcing, with clear evidence of a long reinvestment runway. However, ARPU growth is lagging in South Africa and cash flow acceleration is moderate rather than explosive. The business is transitioning to a more global, scalable model, but some metrics (ARPU, cash flow, disruptive potential) are not at the highest tier, capping the signal score.
Metals Acquisition (MTAL) Q2 2025: Copper Output Jumps 23% as Harmony Deal Nears Pivotal Vote
MTAL demonstrates strong operational momentum, cost leadership, and capital discipline, with a visible growth runway (ventilation/Merrin projects) and robust cash flow. However, the binary nature of the Harmony deal, and the fact that the company is not a new or little-followed story, slightly limits the upside signal. Unit economics and cash generation are improving, but network effects and deepening customer value are less relevant in this sector. The business is clearly in a growth phase but not at the most disruptive or exceptional level.
Vital Farms (VITL) Q2 2025: Capex Raised 80% as Seymour Expansion Unlocks $900M Revenue Capacity
Vital Farms demonstrates a long runway, strong growth, and improving unit economics, but the business model is only semi-disruptive and not a clear network-effect compounder. Growth is strong but not explosive, and while cash flow is improving, it's not yet a cash machine. The signal is high but capped by the business's category and competitive dynamics.
Commvault (CVLT) Q2 2026: SaaS ARR Jumps 56%, Cementing Early $1B Milestone as Cloud Shift Accelerates
Commvault is showing strong SaaS/ARR growth, clear improvement in unit economics, and accelerating cash flow, but the business is not a hyper-growth, highly disruptive platform; it is a well-executing, maturing leader in a competitive space. Some signal is lost due to the company’s established status and the absence of truly exceptional (40%+) long-term growth or disruptive network effects.
ARGX Q1 2025: Pre-Filled Syringe Drives 50% New Patient Uptake, Expanding Market Reach
ARGX demonstrates strong growth, expanding patient base, and new product forms driving market expansion. The business has a robust pipeline and strong cash position, suggesting a long runway. However, while the business is high-quality, it is not a new or undiscovered story and faces reimbursement headwinds. The business model is innovative but not fully disruptive. Growth is strong but not in the hypergrowth range. Overall, the signal is high but not at the very top end due to sector familiarity and some external risks.
Oklo (OKLO) Q2 2025: $460M Capital Raise Unlocks Multi-Gigawatt Nuclear Pipeline Acceleration
Oklo demonstrates a long reinvestment runway, disruptive business model, and strong regulatory/capital tailwinds. However, the business is still pre-revenue, with unit economics and customer value not yet proven at scale. Growth potential is exceptional, but realization is dependent on execution and customer conversion, justifying a slightly conservative signal score.
BDSX Q4 2024: Diagnostic Development Services Revenue Jumps 70%, Expanding Multimodal Growth Path
BDSX demonstrates a strong growth trajectory, with a long runway (primary care channel, multimodal platform) and high returns on capital evidenced by margin expansion and backlog growth. There is a significant uptick in diagnostic development services revenue and backlog. Unit economics and customer value are improving. The business model shows some self-reinforcing aspects (platform, partnerships), but network effects are not dominant. Guidance is good but not exceptional. The business is growth-oriented and not a legacy player, but not disruptive at the highest level.
Amazon (AMZN) Q2 2025: AWS Backlog Jumps 25% to $195B, Extending AI Demand Visibility
Amazon remains a large, well-followed company, so while the AWS backlog growth and AI demand are significant, the business is not undiscovered and its upside is somewhat capped by scale and competitive visibility. The backlog surge and margin expansion are material, but infrastructure constraints and macro risks temper the signal. The business model is self-reinforcing and disruptive, but not uniquely so at this stage.
Rubrik (RBRK) Q1 2026: Identity Resilience Drives 28% Large-Customer Growth as Platform Expands
Rubrik shows strong reinvestment runway, improving unit economics, self-reinforcing business model, and deepening customer value. The model is disruptive with platform expansion, though not showing a recent massive growth spike or backlog surge over 40%. Cash flow is improving but not yet accelerating rapidly. Revenue/EPS growth is strong but not over 40%. The business is clearly a growth business, but the signal is slightly moderated by the absence of a truly exceptional near-term inflection.
CDP Q2 2025: Defense IT Leasing Hits 95.6% as $150B Appropriation Fuels Growth Prospects
CDP shows strong signal: a long reinvestment runway (driven by defense budgets), government-anchored tenants with high retention, and a clear demand ramp from appropriations. However, unit economics are stable but not dramatically improving, and while growth is solid, it is not explosive—guidance raises are incremental, not transformative. The business is semi-disruptive (specialized REIT, but not a new model), and cash flow is growing but not accelerating at a very high rate. The overall signal is strong but not at the absolute highest level due to the mature, government-anchored nature of the business.
Alphabet (GOOG) Q1 2025: AI-Driven Search and Cloud Propel Double-Digit Growth, Margins Expand Despite CapEx Surge
Alphabet demonstrates a long reinvestment runway, strong unit economics, and self-reinforcing business model, with clear cash flow acceleration and growth business status. However, there is no evidence of a recent massive uptick in backlog or a near-term inflection to hypergrowth. The business is not highly disruptive, and while growth is robust, it is not exceptional or above 40% annualized. The company is very well-known and widely followed, limiting the incremental signal for investors seeking outsized upside.
Antero Resources (AR) Q2 2025: Maintenance CapEx Down 26% as NYMEX Premium Exposure Expands
AR demonstrates a long reinvestment runway, significant recent improvements in capital efficiency, and accelerating free cash flow. However, while the business model has some self-reinforcing elements (transport, hedging), it is not fully disruptive and customer value deepening is moderate. Growth is solid but not at hypergrowth levels, and while the business is clearly in a growth phase, the overall sector context tempers the signal score.
DCTH Q1 2025: Gross Margin Jumps to 86% as Center Expansion Accelerates U.S. Adoption
DCTH exhibits a long reinvestment runway, strong margin expansion, and clear operational leverage. Center ramp, pricing power, and pipeline expansion indicate high growth potential. However, near-term growth is still anchored to a niche indication, with pipeline impact several years out and some risks around patient throughput and reimbursement. The model is somewhat disruptive but not a category-defining platform yet. Cash flow is positive but not yet accelerating dramatically, and growth rates are strong but not consistently >40%. Overall, the business is in transition to scale, but not yet in the top decile of compounding growth stories.
Brinker (EAT) Q3 2025: Chili’s Traffic Jumps 21%, Driving Margin Upside and Brand Relevance
Brinker’s Chili’s brand is showing significant growth and margin expansion, with a 21% traffic jump and strong comp sales, signaling a notable business evolution (Q2=2). The reinvestment runway is moderate—Chili’s is a mature brand but is finding new growth levers (Q1=1). Unit economics are improving with scale (Q3=2), and customers are becoming more valuable (Q5=2). The business model shows some self-reinforcing dynamics but is not a pure compounding platform (Q4=1, Q7=1). The future outlook is positive but not exceptional (Q6=1). Cash flow is accelerating (Q8=2). Growth is strong but not hypergrowth (Q9=1). This is a growth business, not legacy or merely transitioning (Q10=2). While the numbers are impressive for the sector, the signal is capped by the mature nature of casual dining and the lack of true disruptive platform dynamics.
Lifetime (LTH) Q2 2025: Club Pipeline Expands to 100 Deals as Growth Accelerates
Lifetime shows clear evidence of growth acceleration, improved unit economics, and a strong reinvestment runway, supported by a large pipeline and asset-light funding. However, while the digital and in-center levers are promising, they are not yet at a scale to justify the highest marks for self-reinforcing business model or disruptiveness. Growth is strong but not explosive, and while guidance is rising, it is not exceptional enough for full marks.
Genesis Energy (GEL) Q2 2025: Shenandoah Startup Unlocks 600M Barrel Throughput Path
Genesis Energy is at a meaningful inflection with a long infrastructure runway, major new projects online, and a shift to free cash flow. However, the business is not a new disruptor and is well-followed, with some risks around execution and marine segment growth. Unit economics and customer value are improving but not exceptional. Growth is strong but not at the extreme end of the spectrum.
CDP Q2 2025: Defense Lease Retention Hits 90% as $150B Budget Fuels Long-Term Tailwind
CDP demonstrates a long reinvestment runway, high retention, and sector tailwinds from the defense budget. There is a significant inflection in demand, but growth is not yet at hyper-scaling levels and unit economics are stable rather than rapidly improving. The business model is self-reinforcing with high switching costs and customer stickiness. While the outlook is strong, growth rates are solid but not explosive, and the business is more of a stable, compounding leader than a disruptive high-flyer.
CoreCivic (CXW) Q2 2025: ICE-Driven 23% EBITDA Surge Signals Multi-Year Capacity Upside
CoreCivic is experiencing a significant inflection due to historic ICE funding and a surge in federal contracting, which is driving double-digit EBITDA and revenue growth with multi-year visibility. However, the business is not fundamentally disruptive (traditional corrections/detention model), and while cash flow and growth are strong, the long-term reinvestment runway is ultimately capped by government policy and appropriations cycles. The business is positioned for strong near-term growth, but structural and policy risks remain.
Personalis (PSNL) Q3 2025: MRD Clinical Test Volume Up 364% as Coverage Decisions Near
Personalis is in a high-growth transition with strong clinical adoption and a potentially long runway if reimbursement is secured. However, the model is not yet self-reinforcing or disruptive at scale, and some risks (lumpiness, reimbursement) temper the signal. Growth is strong but not yet exceptional across all vectors.
Gauzy (GAUZ) Q2 2025: Backlog Surges to $43M, Setting Up 70% Second-Half Revenue Ramp
Gauzy demonstrates a strong growth profile with a record backlog, over 30% guidance growth, and clear operational scaling. The business model has disruptive elements (smart glass, dynamic glazing) and is extending into new verticals, but some elements (network effects, customer value deepening) are still emerging rather than entrenched. Margin and cash flow improvement are underway but not yet fully realized. The risk/reward is high due to execution dependency, but the upside is notable for investors.
Ocular Therapeutix (OCUL) Q2 2025: $97M ATM Raise Extends Runway as Sol Trials De-Risk Superiority Label
Ocular Therapeutix demonstrates a long reinvestment runway, disruptive business model potential, and a rare opportunity for a market-defining superiority label in wet AMD. However, as a pre-commercial biotech, evidence for improving unit economics and customer value is limited until launch. Growth is not yet exceptional by realized metrics, but the setup is strong for significant future upside if pivotal trials succeed.
CyTOMICS (CTMX) Q2 2025: $100M Raise Extends Runway, CX2051 Data Sets Stage for CRC Push
CyTOMICS demonstrates a long reinvestment runway, significant recent developments (notably the 28% response rate in a difficult CRC setting and a large capital raise), and improving unit economics through cost discipline. The business model is disruptive with clear expansion potential, but network effects and customer value deepening are only modest at this stage. Growth is strong but not yet exceptional, and cash flow is improving but not accelerating. Overall, the business is transitioning into a growth phase with high strategic optionality, but not all signal levers are maxed.
Sophia Genetics (SOPH) Q2 2025: 35 New Customers Drive 20% Core Clinical Growth, Biopharma Stabilizes
Sophia Genetics demonstrates a strong runway with a platform model, recent step-change in enterprise and biopharma contracts, and clear signs of operational leverage. However, while growth is robust and disruptive, some metrics (unit economics, customer value, and cash flow) are improving but not yet at the level of a runaway compounding business. The business is transitioning to growth leadership, but not yet at the highest acceleration tier.
IAG Q1 2025: Cote Throughput Hits 96%, Unlocking Double-Digit Mine Site Cash Flow Growth
IAG is transitioning to a high cash flow phase with significant operational inflection at Cote, a long runway on Quebec assets, and accelerating cash generation. However, while the business is improving and set for growth, it is not a disruptive model and lacks network effects or compounding advantages. Customer metrics (in a mining context) are less applicable, and some signals (like growth rate and business model disruptiveness) are strong but not exceptional.
Boot Barn (BOOT) Q2 2026: Store Count Target Rises 33% to 1,200 on Expanded $58B TAM
Boot Barn demonstrates a long reinvestment runway, significant store expansion, and strong revenue/margin growth. However, the business model, while robust and scaling, is not highly disruptive, and customer value deepening is present but not exceptional. Growth rates are strong but not hypergrowth, and the business is not entirely immune to macro risks. Signal is high but not at the level of a truly exceptional, disruptive, or hypergrowth business.
Amentum (AMTM) Q3 2025: Nuclear Pipeline Surges to $700M, Driving Margin Expansion
Amentum demonstrates a long reinvestment runway (nuclear and digital), major recent backlog and pipeline growth, and a disruptive, self-reinforcing business model with high barriers to entry. However, unit economics and customer value are improving but not exceptional, and growth, while strong, is not consistently above 40%. The business is solidly growth-oriented, but not at the highest acceleration tier.
InVenture (INV) Q4 2024: $28.9M Capital Injection Sets Stage for Commercial Ramp in Data Center Cooling and Packaging
InVenture demonstrates a long runway with disruptive platforms and recent commercial breakthroughs, but the business is still in early scaling phases. While there is strong evidence of growth potential, network effects and customer value deepening are still emerging. The business is transitioning to growth, but not yet at a scale or velocity to warrant the highest possible signal scores across all vectors.
AEIS Q3 2025: Data Center Revenue Soars 113% as AI Demand Drives New Baseline
AEIS is showing strong growth and a clear inflection driven by AI infrastructure demand, with several metrics (data center revenue, margin, cash flow) accelerating. However, it is not a unique or undiscovered business, and while the runway is solid, it is not at the level of a generational compounder. The business is transitioning from cyclical to secular growth, but not all elements (network effects, disruptive model, etc.) are fully present.
CELH Q2 2025: Alani New Adds $301M, Expanding Portfolio Scale and Margin Leverage
Celsius demonstrates strong growth, a long reinvestment runway, and improving unit economics, with the Alani New acquisition driving a step-change in scale. However, the business model, while innovative, is not fully self-reinforcing, and future growth, while solid, is not in the hypergrowth range. Risks from tariffs and integration temper the signal, but the company remains a strong growth story with above-average investor appeal.
Similar Scientific (SMLR) Q2 2025: Bitcoin Holdings Surge $586M as Dual-Engine Model Gains Leverage
The company demonstrates a disruptive, dual-engine model with a long reinvestment runway. There is clear business model evolution, aggressive capital redeployment, and a high degree of strategic optionality. However, some elements (unit economics, customer value, and cash flow) are not yet fully proven or accelerating, and the healthcare segment still carries execution risk.
PublicSq. (PSQH) Q2 2025: FinTech Revenue Jumps 80% as Strategic Pivot Accelerates
The business is making a bold pivot with strong sequential FinTech growth, significant cost discipline, and early AI/crypto traction. However, evidence for deepening customer value and fully compounding self-reinforcing effects is still emerging, and growth, while strong, is not yet at the highest tier. Execution risk and the need to prove out margin expansion temper the signal score.
Voyager Technologies (VYGR) Q2 2025: Defense and National Security Revenue Surges 85%, Reinforcing Platform Leverage
Voyager shows a long runway with high returns, disruptive IP-first model, and major recent growth in defense. However, some metrics (unit economics, customer value, cash flow, growth rates) are improving but not yet exceptional or fully proven at scale, so scores are conservative.
META (META) Q2 2025: AI Capex Surges $30B as Meta Scales Superintelligence Bet
Meta is a well-known large-cap, and while the AI capex surge is material, the business is not in hypergrowth nor is there a 40%+ growth inflection. The company has a long reinvestment runway, improving unit economics, and a disruptive AI-driven model, but the near-term monetization of AI is delayed. Customer value is improving modestly, not dramatically. The business remains a growth engine but is not transitioning to a new S-curve at this moment, thus the score is conservative.
Power Integrations (POWI) Q2 2025: GaN Revenue Up 50% as Data Center and Industrial Drive Strategic Shift
POWI is executing a meaningful strategic shift, with proprietary GaN technology, a move into high-growth verticals, and strong industrial/automotive momentum. However, some metrics (unit economics, customer value, cash flow) are improving but not yet exceptional; growth is solid but not explosive. The business model is disruptive and self-reinforcing, but near-term headwinds cap upside for now.
PATRA (PAX) Q3 2025: Fee-Related Earnings Jump 22% as Fundraising Surges Past $6B
PATRA demonstrates strong organic growth, margin expansion, and a sticky asset base, with double-digit earnings growth and a growing fee-earning AUM pipeline. However, while the business is compounding and transitioning to a durable fee-based model, it is not a highly disruptive or hyper-growth story. The reinvestment runway is solid but not exceptional, and while upside exists, the business is not likely to deliver outsized returns relative to more disruptive or earlier-stage opportunities.
Vistagen Therapeutics (VTGN) Q1 2026: R&D Spend Jumps 54% as Palisade Trials Near Data Catalyst
Vistagen presents a high-risk/high-reward late-stage biotech setup with a clear potential for value inflection if clinical data is positive. The reinvestment runway is long if successful, and the business is at a binary catalyst. However, unit economics and self-reinforcing advantages are not yet proven, and customer value is potential rather than actualized. The business is not yet a cash flow machine, and while growth could be exceptional, it is contingent on clinical success. The signal is strong for a catalyst-driven biotech, but not at the level of a proven compounding franchise.
Corvus Pharmaceuticals (CRVS) Q2 2025: $35.7M Warrant Exercise Extends Cash Runway Into 2026
Corvus demonstrates a long reinvestment runway, recent significant developments (notably the warrant exercise and trial momentum), and a disruptive platform approach. However, some signal is capped by early-stage clinical risk, lack of clear evidence of improving unit economics, and moderate visibility on cash flow acceleration or customer value deepening. The business is transitioning to growth but remains binary and pre-commercial, limiting the maximum signal.
Veritone (VERI) Q2 2025: VDR Pipeline Doubles to $20M, Unlocking AI Data Monetization
Veritone has a long reinvestment runway, a disruptive business model, and a clear growth inflection in AI data and government contracts. The VDR pipeline surge and public sector wins are significant, but margin compression, customer concentration, and managed services drag limit the upside. The business is transitioning to growth, but not yet at the 'giant' stage; some metrics (unit economics, customer value, cash flow) are improving but not yet exceptional.
Live Nation (LYV) Q2 2025: Venue-Driven Margins Hold as Stadium Fan Count Rises 33%
Live Nation demonstrates a long reinvestment runway with 20%+ returns on venue assets, improving unit economics, and a self-reinforcing model via owned venues and Ticketmaster. Customer value is deepening (higher on-site spend, strong retention). However, there is no evidence of a recent 40%+ growth inflection or massive backlog acceleration, limiting top scores. The model is somewhat disruptive but not in a hyper-growth phase. Revenue/EPS growth is likely in the 10-20% range, and while cash flow and guidance are improving, they are not exceptional.
Dynavax (DVAX) Q2 2025: Hepatitis B Market Share Climbs to 45% as Retail Channel Accelerates
Dynavax exhibits a strong growth runway in hepatitis B and pipeline optionality, but is not a truly disruptive or exceptional growth story. Retail channel shift and Medicare tailwinds are material, but future pipeline success is not yet proven. Unit economics and cash flow are improving, but not at a transformative level. The business is growth-oriented but not a clear outlier for valuation upside.
ZEPP (ZEPP) Q2 2025: Revenue Surges 46% as Premium Product Mix and Supply Chain Strategy Drive Upside
Signal is strong due to the inflection in growth, premiumization, and operational discipline, but the business is not highly unique or disruptive and faces execution risks in a competitive market. While growth is accelerating and guidance is bullish, the overall opportunity is good but not extraordinary.
Agri-Realty (ADC) Q2 2025: Investment Volume Surges 58%, Unlocking Multi-Platform Expansion
ADC is a solid, well-executing consolidator with a visible multi-year runway, but it is not a truly disruptive or exceptional growth story. Investment volume acceleration and platform scaling are notable, but the business remains in a mature sector with moderate reinvestment optionality. Unit economics and customer value are improving, but not at a pace or scale to warrant maximum scores. Recent developments are material but not game-changing in the context of the sector.
SELECTUS (CLLS) Q2 2025: Cash Runway Secured Through 2027 as Pivotal CAR-T Phase 2 Launches
Selectus is at a pivotal transition with a long reinvestment runway and disruptive business model, but the company is not yet demonstrating accelerating revenue or cash flow, and unit economics improvements are not fully proven at scale. The business is moving into late-stage trials with multiple catalysts, but the signal is capped by binary clinical and legal risk, and the company is not yet a high-growth compounding machine. The signal is solid for a small/mid-cap biotech, but not exceptional.
PAR (PAR) Q2 2025: Multi-Product Deals Drive 60% Subscription Surge, Tier 1 Pipeline Swells
PAR demonstrates a strong reinvestment runway, significant pipeline expansion, and multi-product SaaS momentum. However, some signal elements are capped by rollout delays and moderate (not exceptional) growth guidance for the near term. The business is transitioning with disruptive elements, but not yet at a 'giant' or hypergrowth inflection. Unit economics are improving, but not at the highest trajectory. The model is self-reinforcing but not yet fully compounding. Overall, signal is strong but not maxed out due to execution and timing risks.
Granite Ridge (GRNT) Q2 2025: Production Surges 37% as Operated Partnerships Expand Permian Inventory
Granite Ridge demonstrates a strong growth trajectory, reinvestment runway, and a differentiated model, but the business is in a competitive, cyclical sector and not yet at the level of a truly exceptional, dominant compounder. While growth is robust and the strategy is differentiated, some elements (customer value, self-reinforcement, cash flow acceleration) are still emerging rather than fully proven.
Lincoln Educational Services (LINC) Q1 2025: 20% Start Growth Unlocks New Campus Expansion Momentum
LINC shows strong growth signals: high reinvestment runway (campus expansion), recent double-digit growth, improving unit economics, and a disruptive hybrid model. However, network effects and customer value deepening are present but not dominant. Growth is strong but not explosive, and while the business is not a legacy stall, it is not yet a hypergrowth outlier, warranting a conservative signal score.
BigBear.ai (BBAI) Q2 2025: $391M Cash Unlocks Aggressive Growth Despite Army Contract Disruption
BigBear.ai has a long reinvestment runway and is pursuing a disruptive, high-growth strategy enabled by a record cash position. There are recent significant developments (cash raise, federal funding tailwinds), but near-term financials are pressured and unit economics are not yet clearly improving. The business model is semi-self-reinforcing and disruptive, but not yet at scale. The company is transitioning to growth, with the potential for acceleration contingent on execution.
Interface (TILE) Q2 2025: Backlog Climbs 24% as Nora Rubber and Automation Drive Margin Upside
The business is showing strong momentum (notably backlog and Nora growth), clear margin expansion, and improving unit economics through automation. However, it is not a highly disruptive or exceptional growth story, and reinvestment runway is moderate rather than long. The model is improving but not fully self-reinforcing, and industry dynamics are competitive. Growth is solid but not at the level of a breakout compounder.
Five9 (FIVN) Q2 2025: Enterprise AI Revenue Jumps 42% as Platform Shift Accelerates
Five9 shows strong AI-driven growth and margin expansion, but the reinvestment runway and self-reinforcing model are not fully proven. The business is transitioning and growing, but not at a breakout or truly disruptive level. Revenue growth is strong but not hypergrowth. The signal is good, but not exceptional.
Babcock & Wilcox (BW) Q2 2025: Parts & Services Revenue Jumps 31% on Data Center Power Surge
BW is showing strong signals of a business model inflection, including a 49% backlog increase, margin expansion, and a pivot to asset-light growth. The runway is long given secular electrification trends, but the business is not a pure disruptor and some optionality (BrightLoop) is still emerging, not proven. Revenue and EPS growth are strong but not yet at hypergrowth levels. The model is not fully self-reinforcing, and customer value deepening is evident but not yet at the highest tier. Signal is strong, but not exceptional.
Comstock Resources (CRK) Q2 2025: Western Hainesville Lowers Well Costs 15%, Unlocks 30-Year Inventory
Comstock demonstrates a long reinvestment runway and significant operational improvements, with well-anchored inventory and cost reductions. However, while the business is improving and has high-return opportunities, it is not a highly disruptive or network-effect business and is still subject to commodity and execution risks. Growth is solid but not at a hyper-growth/transformational level, and some metrics (customer value, business model self-reinforcement) are improving but not exceptional.
Wesco (WCC) Q2 2025: Data Center Sales Surge 65% as Backlog Hits Record Highs
Wesco is showing a major inflection in data center growth with a 65% YoY surge and record backlog, which is highly relevant. However, the core business is still a distributor with moderate reinvestment optionality, and some segments remain mature or recovering. There is evidence of improving unit economics and cash flow, but the business is not fully disruptive nor likely to deliver >40% growth across the board. Signal is strong but not in the highest tier for business model or long-term compounding.
Vericel (VCEL) Q2 2025: Macy Arthro Drives 40% Growth in Key Segment, Salesforce Expansion Accelerates
Vericel demonstrates a strong growth runway in cartilage repair (Macy Arthro) and pipeline expansion (Macy Ankle), with evidence of operational leverage and cash flow inflection. There is a significant recent uptick in key segments and a proactive commercial strategy, but some elements (e.g., burn care volatility, customer value deepening, and disruptive model) are present but not exceptional. The business is transitioning to a higher-growth profile but is not yet a breakout compounding machine.
Agios (AGIO) Q2 2025: Pyruvate Kinase Franchise Revenue Jumps 45% as Thalassemia Launch Nears
AGIO is transitioning to a multi-indication rare disease platform with a major launch (thalassemia) imminent, a strong balance sheet, and a pipeline with late-stage assets. However, signal is somewhat capped by rare disease market limitations (modest patient pools, revenue variability), and while growth is strong, it is not at the level of a giant platform business. The business is not yet showing clear evidence of rapidly compounding network effects or exceptional unit economics, but it is disruptive within its niche.
AMSC (AMSC) Q1 2025: Grid Revenue Jumps 86% as Semiconductor Demand Accelerates Backlog
AMSC shows strong recent growth, backlog acceleration, and improved unit economics, with clear sector tailwinds and margin expansion. However, the business is not highly disruptive or unique, the reinvestment runway is moderate, and while growth is robust, it is not at the highest tier for signal. The business is transitioning into a growth phase but does not present extraordinary optionality or a truly exceptional future profile.
Nauticus Robotics (KITT) Q2 2025: Service Revenue Quadruples, Asset Utilization Drives Margin Visibility
Nauticus Robotics demonstrates strong growth signals: quadrupled service revenue, a strategic acquisition, backlog expansion, and a pivot toward high-margin recurring revenue. The business model is disruptive with a long runway, and the company is transitioning from validation to commercial scale. However, unit economics and customer value improvement are still developing, and cash flow is not yet accelerating. The future is promising, but risks around execution, liquidity, and backlog conversion temper the signal score.
ATI (ATI) Q2 2025: Jet Engine Sales Up 27%, Margin Expansion Anchors Multi-Year Growth Path
ATI is showing strong growth in a key segment (jet engines up 27%), with improving margins and high-value contract wins. However, the overall business remains moderately cyclical and not fully disruptive, and while there is a multi-year runway, the company is not in a hyper-growth phase. Some segments are mature or facing headwinds, and the business model, while improving, does not exhibit the self-reinforcing dynamics of a true compounding disruptor. Cash flow is accelerating, but the company is not positioned for >40% growth. Signal is above average but not exceptional.
Sequans (SQNS) Q3 2025: Bitcoin Holdings Reach 3,072, Anchoring Treasury Strategy Shift
Sequans’ Bitcoin treasury pivot is a bold, disruptive capital allocation with a long potential runway, and the IoT business shows strong pipeline growth and design win momentum. However, the underlying operating business is not yet at giant scale, and much of the upside is contingent on successful execution and capital market access. Unit economics and customer value are improving but not exceptional. The business is in transition, with high risk and high potential, justifying a strong but not top-tier signal score.
Microsoft (MSFT) Q4 2025: Azure Grows 39% as AI Demand Outpaces Data Center Supply
While Microsoft demonstrates strong growth, operational leverage, and a clear lead in AI/cloud, the business is well-known, mature, and already widely owned, limiting upside surprise. The reinvestment runway is significant but not uncapped, and recent growth—though strong—is not at the disruptive, hypergrowth threshold. Unit economics, customer value, and business model self-reinforcement are robust, but the company is not a new or underappreciated growth story. Signal is high for a mega-cap, but not for a hidden or exceptional inflection.
Compass (COMP) Q2 2025: Agent Recruiting Surges 53%, Fueling Record Market Share Gains
Compass shows strong growth in agent recruiting and attach rates, with accelerating market share and margin expansion. However, the business is not truly disruptive and operates in a competitive, mature sector with limited evidence of a long, high-ROIC reinvestment runway. Growth is robust but not at the extreme levels required for top scores, and some business model advantages are emerging rather than deeply entrenched. The signal is strong for a traditional real estate platform but not exceptional relative to the highest-growth tech or platform businesses.
Tenable (TENB) Q2 2025: Tenable One Drives 40% of New Sales as Platform Adoption Accelerates
Tenable shows strong platform adoption, a long reinvestment runway, and a disruptive shift in its business model. However, while growth is solid, it is not at hyper-growth levels, and some metrics (unit economics, customer value, cash flow) are improving but not exceptional. The business is not a household name but is well-followed, limiting the upside surprise for investors.
Riot Platforms (RIOT) Q2 2025: Data Center Build Push Raises Hashrate Forecast to 40 EH/s
Riot is at a strategic inflection with a long reinvestment runway, a disruptive pivot to data centers, and strong liquidity. However, some elements—like unit economics, customer value, and cash flow—are promising but not yet proven at an exceptional level. The business is growth-oriented and has potential for high returns, but execution risk and dependency on successful tenant leasing temper the signal.
Ionis (IONS) Q2 2025: Tringolza Triples Sales, Sets Stage for 3 Launches and $100M Guidance Hike
Ionis demonstrates a solid reinvestment runway and recent inflection in growth with Tringolza and pipeline launches, but the business is not fundamentally disruptive or on track for hypergrowth (>40%). Unit economics and cash flow are improving, but not at a 'giant' scale. There is some compounding but not deep network effects. Growth is strong but not exceptional, and the business is transitioning to larger markets with execution risks. Overall, the signal is above average but not at the highest level due to business model and market limitations.
EVE Air Mobility (SPNS) Q2 2025: $14B Backlog Anchors 2027 Service Entry, Prototype Flight Nears
EVE has a very large backlog ($14B, 2,800 aircraft), a disruptive business model, and is at a critical inflection (prototype flight/certification). However, unit economics, customer value deepening, and cash flow are not yet proven, and backlog conversion is just beginning. Growth is high but not yet exceptional, and the business is pre-revenue with high execution risk. Signal is strong but not maximal due to pre-commercial stage and risk profile.
Marex (MRX) Q2 2025: Prime Brokerage Revenue Surges 135%, Fueling Margin Expansion
Marex is showing strong growth, margin expansion, and successful integration of acquisitions, particularly in Prime Brokerage. However, while the business is growing and demonstrating operational leverage, it is not a highly disruptive model, and the reinvestment runway—while solid—is not clearly exceptional or unique. The growth rate is strong but not consistently above 40%, and while unit economics and customer value are improving, the business is not yet on track to be a giant or highly disruptive. The signal is solid for a capital markets firm, but not at the level of a generational growth business.
Anika (ANIK) Q2 2025: Integrity Drives 41% Regenerative Growth as Hyalofast Timeline Extends
Integrity's growth is strong, but the business is transitioning and still exposed to OEM contraction and regulatory risk. There is clear growth in regenerative, but the overall business is not yet a high-growth, high-ROIC compounder due to delays and margin pressures. Unit economics and customer value are improving, but the business model is only semi-disruptive at this stage. Guidance is for moderate growth, not exceptional acceleration.
Pulse Biosciences (PLSE) Q2 2025: R&D Spend to Rise with Two IDE Trials and Commercial Launch
Pulse Biosciences is at a critical inflection, entering commercialization with a differentiated platform and multiple large addressable markets. While the reinvestment runway and disruptive potential are strong, actual unit economics, customer deepening, and cash flow acceleration are not yet proven, and near-term growth is likely to be volatile as adoption ramps.
Seagate (STX) Q4 2025: Nearline Shipments Jump 52%, Hammer Ramp Drives Margin Trajectory
Seagate demonstrates strong momentum with a significant technology transition, robust growth in Nearline shipments, and margin expansion. However, the business model, while showing disruptive elements (Hammer, BTO), is not fully self-reinforcing or network-driven, and some metrics (runway, customer value deepening) are not at the highest level. Revenue and EPS growth are strong but not consistently above 40%. The company is transitioning toward a higher-growth, higher-margin profile, but is not a truly exceptional or unknown growth story.
Penumbra (PEN) Q2 2025: U.S. Thrombectomy Jumps 22% as Dedicated Sales Teams Fuel Segment Focus
Penumbra shows strong growth, margin expansion, and commercial execution, with a long runway in thrombectomy and embolization. However, some signal questions are scored conservatively due to the business being relatively well-followed and not exhibiting explosive, disruptive growth or network effects. Unit economics and customer value are improving, but not yet at a transformative level. The business is solidly growth-oriented but lacks the step-change characteristics of a truly exceptional, high-upside compounder.
Inspirato (ISPO) Q2 2025: BioLink Deal Adds $124M Revenue Platform, Reshaping Growth Outlook
The combination with BioLink creates a new platform with a long reinvestment runway and disruptive potential, but some metrics (unit economics, customer value, cash flow) are only modestly improving and not yet exceptional. The business is transitioning to growth, but not all signals are at the highest level. The upside is meaningful, but execution risk is high and some improvements are still in early stages.
CECO (CECO) Q2 2025: Backlog Soars 76% as Power Gen and Industrial Orders Fuel Record Pipeline
CECO shows strong backlog growth, improving margins, and a clear multi-year runway, but some elements (such as business model self-reinforcement and customer value deepening) are present but not definitively exceptional or disruptive. Growth is robust but not at the highest tier, and the business, while improving, is not a category-defining outlier.
Lucid Diagnostics (LUCD) Q2 2025: Commercial Revenue Jumps 40% as Medicare Coverage Milestone Nears
Lucid Diagnostics is positioned at a clear inflection with a large potential addressable market, high incremental margins, and a disruptive reimbursement-driven model. However, despite strong signals, the company is not yet demonstrating consistently improving unit economics or deepening customer value, as most upside is contingent on future Medicare coverage. The business is not yet a cash flow machine, and while growth is promising, it is not yet exceptional or de-risked.
Crane (CR) Q2 2025: Aerospace Backlog Jumps 29%, Accelerating Multi-Year Growth Visibility
Crane demonstrates strong backlog growth, margin expansion, and a clear multi-year growth runway, with M&A adding portfolio differentiation. While the business is transitioning toward higher quality and resilience, some elements (network effects, customer value deepening, disruptive model) are present but not dominant, and growth rates, though strong, are not at the extreme end of the spectrum. The business is investable and improving, but not an outlier for signal.
Fractal Health (GUTS) Q2 2025: $23M Capital Raise Extends Runway Through Critical Revita Data Milestones
Fractal Health is at a high-stakes inflection with a disruptive, high-upside business model and clear capital runway. However, the business is still pre-commercial, and while the potential is significant, actual commercial traction and compounding effects are yet to be proven. Signal is strong, but not at the maximum due to execution and validation risk.
Exelixis (EXEL) Q2 2025: CaboMedix NET Launch Captures 35% New Patient Share, Unlocking Franchise Expansion
Exelixis demonstrates a strong growth profile with the NET launch, robust reinvestment capacity, and a pipeline with disruptive potential. However, while growth and commercial execution are impressive, some elements (self-reinforcing model, customer value deepening, and cash flow acceleration) are present but not yet exceptional, and the business, while high-growth, is not a category-defining disruptor. The signal is strong but not at the absolute highest level.
SurgePays (SURG) Q2 2025: Lifeline Activations Quadruple, Setting Stage for $225M Revenue Runway
SurgePays is showing strong growth and operational inflection with clear reinvestment opportunity and improving unit economics. However, the business model, while evolving, is not fully self-reinforcing or disruptive compared to larger wireless peers, and customer value deepening is present but not exceptional. Growth is strong but not at the highest levels, and ongoing cash burn and execution risk temper the signal.
Blue Owl Capital (OBDC) Q3 2025: $57B Capital Raise Accelerates Fee Visibility Into 2026
Blue Owl demonstrates a long reinvestment runway, large capital raises, and high customer value, but is not a new or undiscovered business and is already well-followed. Unit economics and business model are strong but not exceptionally disruptive. Growth is robust but not hyper-accelerated, and while the business is clearly a compounding growth platform, the upside signal is moderate for a well-known asset manager. The model is self-reinforcing but not network-effect driven. Overall, the signal is above average but not exceptional for a business of this scale and profile.
WESCO (WCC) Q3 2025: Data Center Sales Jump 60%, Powering Record $1.2B Segment Surge
WESCO is showing clear growth, inflection in data center sales, and improving unit economics, but is not a highly disruptive or underfollowed business with exceptional reinvestment runway. The business is transitioning to higher growth, but some elements (e.g., working capital drag, margin mix) temper the signal. The company is not likely to deliver >40% growth overall, and while the data center segment is hot, the business is already well-followed and not a hidden gem.
Novanta (NOVT) Q3 2025: New Product Revenue Surges 60%, Securing Growth Platform Momentum
Novanta is showing accelerating new product growth and strong design win momentum, but the overall business is still transitioning with mid-single-digit growth targets and some legacy headwinds. The business has some disruptive aspects (physical AI/robotics, consumables), but the runway is not as long or as high-return as top-tier compounders. Unit economics and customer value are improving, but the business is not yet on track to be a giant. Signal is solid but not exceptional.
Coursera (COUR) Q2 2025: 7.5M New Learners Signal Expanding Global Reach and Platform Leverage
Coursera demonstrates a strong reinvestment runway, disruptive business model, and robust growth in learners and content, with AI features driving engagement. However, enterprise NRR weakness and only moderate improvements in unit economics and cash flow temper the signal. The business is solidly growth-oriented but faces execution and macro risks, keeping the overall signal below the highest tier.
Sidus Space (SIDU) Q2 2025: 36% Revenue Jump as Commercial Constellation Drives Recurring Model Shift
Sidus Space is transitioning to a recurring revenue, vertically integrated model with long runway and disruptive potential (2s for reinvestment, growth, disruption). There is a major recent development (36% revenue growth, new products, contract wins), but unit economics and cash flow are not yet clearly improving (1s). The business model is self-reinforcing but not yet at scale (1). Customer value is deepening but still nascent (1). The business is not yet showing >40% revenue/EPS growth, and recurring revenue is still emerging, so scores for those are 1. Overall, signal is strong but not exceptional due to early-stage risks and the need for further execution.
Viking Therapeutics (VKTX) Q2 2025: R&D Spend Surges 153% as VK2735 Obesity Pipeline Accelerates
Viking offers strong signal with a long reinvestment runway, clear growth in R&D, and a large, high-potential addressable market. However, network effects and customer value deepening are not fully proven, and while the growth is substantial, the business is not yet showing exceptional acceleration or disruptive business model characteristics. The binary risk and heavy dependence on clinical outcomes temper the overall upside signal.
SHMIC (SHIM) Q2 2025: Backlog Climbs to $652M as Core Margin Mix Accelerates
SHMIC shows a clear inflection in backlog quality, margin trajectory, and growth optionality (Axia Electric), with strong YoY revenue growth and improving unit economics. However, the business is not yet a dominant, highly disruptive force, and while margins and backlog are improving, some legacy drag and execution risk remain. The signal is strong but not at the highest tier for exceptional or highly unique upside.
Cineverse (CNVS) Q1 2026: Streaming Minutes Up 38% as MicroSeries Bet Targets $10B Market
Cineverse demonstrates strong growth signals (revenue up 22%, streaming minutes up 38%, bold new platform bets) and a disruptive business model with a long runway. However, some elements (unit economics, self-reinforcement, customer value deepening, cash flow) are improving but not yet exceptional or proven at scale, tempering the overall signal score.
GameSquare (GAME) Q2 2025: $19M Unrealized ETH Gains Anchor Dual-Engine Model Shift
GameSquare is at a genuine inflection, blending a traditional agency with a crypto asset management engine. The reinvestment runway appears long, and recent developments (ETH gains, buyback, pipeline growth) are material. However, some metrics (unit economics, customer value, cash flow) are improving but not yet exceptional. The business model is disruptive and the company is in growth mode, but the signal is tempered by the need for execution and the fact that much of the upside is still dependent on future delivery.
CBUS (CBUS) Q2 2025: $200M Rice Royalty Path Drives Operational Refocus and Cash Discipline
CBUS is at a strategic inflection, with a potentially long reinvestment runway in gene editing and a disruptive royalty-driven model. While revenue is not yet realized, the commercial opportunity in rice and biofragrances is large and the business is transitioning from R&D to commercialization. However, unit economics and self-reinforcing advantages are still emerging, and the business is not yet showing clear cash flow acceleration or >40% growth. Risks remain, but the signal is above average due to the magnitude of the royalty opportunity and regulatory tailwinds.
BYRN Q2 2025: Compact Launcher Lifts Dealer Sales 106% as Brick & Mortar Footprint Expands
BYRN shows strong growth, a clear channel shift, and operational leverage, but while recurring revenue and connectivity are promising, they are still nascent and not yet proven to be self-reinforcing or deeply compounding. The business is a growth story with some disruptive elements, but not yet demonstrating exceptional acceleration or a dominant, defensible moat.
Comstock Resources (CRK) Q3 2025: Western Hainesville Inventory Surges to 2,559 Net Locations, Shifting Growth Trajectory
Comstock demonstrates a long reinvestment runway, a major inventory unlock, and strong margin/cost discipline, but is not an undiscovered or highly disruptive business. While the Western Hainesville shift is material, growth rates and business model disruption are solid but not exceptional. There are positive signals on backlog and cash flow, but not at the highest threshold for acceleration or disruption.
Vivos (VVOS) Q2 2025: SO Teams Model Drives 27% Sequential Revenue Growth Amid Transition
Vivos is at a business model inflection with strong sequential revenue growth and a scalable, high-margin SO team model. There is a clear reinvestment runway and disruptive potential. However, some elements (network effects, customer value deepening, and cash flow acceleration) are emerging but not yet proven at scale, and the business is still in transition rather than fully established as a high-growth compounder.
UXIN Q4 2024: Retail Volume Soars 178% as Superstore Model Unlocks Scale
UXIN demonstrates a long reinvestment runway, breakout growth, improving unit economics, and a disruptive superstore model, but some elements (customer value deepening, self-reinforcing business model, and cash flow acceleration) are still emerging rather than fully proven. The signal is strong, but not at the highest possible level due to these factors.
VinFast (VFS) Q4 2024: Deliveries Surge 143% QoQ, Asia Expansion Anchors Doubling Ambition
VinFast demonstrates a long runway with aggressive expansion and volume growth, but persistent negative margins, the affordability-driven mix, and ongoing capital intensity temper the signal. There is strong growth and evidence of operating leverage, but the business model's self-reinforcing characteristics and customer value expansion are still emerging rather than established. While the business is in high-growth mode, risks and uncertainties around profitability and execution remain significant.
Agios (AGIO) Q1 2025: $1.4B Cash War Chest Sets Up Dual Rare Disease Launches
Agios is at a key inflection with two major rare disease launches pending and a strong balance sheet, indicating a long reinvestment runway and disruptive potential. However, current unit economics and customer value deepening are not yet fully proven, and growth is not yet exceptional (pending regulatory events). The business is transitioning to growth, but execution risk and pipeline proof remain. The signal is solid but not at the highest tier until launches validate the thesis.
Cohen & Company (COHN) Q3 2025: CCM Revenue Jumps to 77% of Total, Signaling Strategic Pivot
COHN is making a disruptive pivot with rapid growth in a volatile segment, but the reinvestment runway is not fully proven and there are material risks. While the business is moving fast and growth is strong, the volatility, reliance on deal flow, and sector risk cap the signal score. The business is interesting but not yet a proven compounding machine.
Li Auto (LI) Q1 2025: BEV Launches Target 3.8M-Unit Premium NEV Market Expansion
Li Auto demonstrates a long reinvestment runway, disruptive BEV and software strategy, and is transitioning to a growth business with international ambitions. There are significant developments (BEV launches, infrastructure buildout), but the business is not yet showing massive backlog or >40% growth. Unit economics and customer value are improving but not exceptional. The business model is becoming more self-reinforcing, but competitive intensity and margin risk temper the signal. Overall, the signal is strong but not at the highest tier for outsized upside.
Urban Outfitters (URBN) Q2 2026: Nuuly Subscribers Jump 48%, Apparel Rental Scale Drives Margin Upside
URBN's Nuuly rental business shows strong growth and margin leverage, but the core retail business is mature with moderate optionality. While Nuuly is scaling rapidly (Q2 subscriber growth of 48%, revenue up 53%), the broader business model is not deeply disruptive nor likely to deliver 20%+ annualized growth at scale. Unit economics and customer value are improving, but the legacy retail base tempers the reinvestment runway. Risks (tariffs, execution) remain, and while the signal is strong for Nuuly, the overall company is not a high-multiple compounder.
Ultragenyx (RARE) Q1 2025: Latin America Drives 52% CRISVITA Growth, Unlocking Global Rare Disease Upside
Ultragenyx demonstrates strong international growth and a late-stage pipeline, suggesting a solid reinvestment runway and growth business status. However, while the business is progressing, network effects and customer value deepening are present but not dominant, and the growth, while strong, is not at a hyper-scaler level. The model is semi-disruptive but not a pure disruptor, and cash flow inflection is expected but not yet at full acceleration. The signal is strong but not top-decile for a truly exceptional, under-the-radar opportunity.
Unicure (QURE) Q1 2025: Cash Position Surges to $409M as AMT-130 Nears Regulatory Milestone
Unicure shows a long reinvestment runway and recent regulatory acceleration for AMT-130, supporting strong signal. The pipeline breadth and capital position are notable, and the business model is disruptive in gene therapy. However, with commercial inflection not yet proven and unit economics/ARPU improvement only partially visible, the signal is strong but not at the highest level.
Palomar (PLMR) Q1 2025: Casualty Premiums Double, Crop and Reinsurance Scale Shift Portfolio Trajectory
Palomar demonstrates a long reinvestment runway and is transitioning into new high-growth lines (casualty, crop) with strong recent upticks. Unit economics and profitability are improving, but network effects and customer value deepening are emerging rather than entrenched. The business is a growth story, but not yet disruptive or exceptional in its industry context, and annualized growth, while strong, is not at the highest tier.
GSI Technology (GSIT) Q2 2026: Cornell Validation Spurs $50M Raise, Accelerates Edge AI Commercialization
GSI has a long reinvestment runway with disruptive compute-in-memory tech, supported by recent third-party validation and a major capital raise. There is a significant business evolution (validation, funding, pivot to edge AI), but commercial inflection is still pending. Unit economics and customer value are improving but not yet at scale. The business model is disruptive with a clear focus, but some elements (software, ecosystem, customer conversion) are still developing. Growth prospects are strong but not yet proven at scale; thus, signal is high but not at the maximum.
NRG (NRG) Q1 2025: $12B LS Power Deal Doubles Generation, Lifts EPS Growth Target to 14%
The LS Power deal is a significant, accretive event with immediate growth and optionality, but NRG is a large, well-followed utility and the business model, while evolving, is not fundamentally disruptive. There is strong evidence of near-term growth, margin expansion, and optionality from large load contracts and VPP, but the runway is not as long or self-reinforcing as a true platform business. The business is transitioning to a new phase of scale and flexibility, but remains exposed to integration and market risks.
Comstock (LODE) Q3 2025: $34.5M Equity Raise Fuels Debt-Free Solar Recycling Scale-Up
Comstock presents a long reinvestment runway and is transitioning to high-growth solar recycling with disruptive potential. The equity raise and debt elimination are significant, and the business model is evolving with strong optionality. However, the unit economics and customer value deepening are still mostly prospective, not fully proven at scale. Growth is expected but not yet at a 40%+ level, and while the future is promising, the business is still in a transitional phase rather than a proven high-growth compounder.
Vital Farms (VITL) Q3 2025: Supply Network Adds 75 Farms, Enabling 37% Revenue Surge
Vital Farms is showing strong growth and operational execution, with a significant surge in revenue and volume and clear evidence of demand capture and margin improvement. However, while the growth is impressive, the business model is not highly disruptive and the reinvestment runway, while solid, is not exceptional or unique compared to other consumer staples. Backlog and future guidance are strong but not at the highest possible level of acceleration. Unit economics and customer value are improving, but network effects and self-reinforcement are moderate. This is a high-quality growth story, but not a truly exceptional or disruptive one in the context of public equities.
Microvast (MVST) Q1 2025: EMEA Revenue Jumps 108% as Margin Expansion Fuels Profitability
Microvast is showing a strong transition to profitability, rapid EMEA growth, and margin expansion, with some disruptive elements in its vertically integrated model and innovation pipeline. However, customer value deepening and self-reinforcing business model signals are present but not yet dominant, and the growth outlook, while strong, does not reach the highest acceleration tier. The business is interesting but not yet at the level of an exceptional, compounding franchise.
MasTec (MTZ) Q1 2025: Non-Pipeline EBITDA Surges 60% as Backlog Hits $15.9B High
MasTec has a strong backlog and is pivoting to high-growth, higher-margin segments, with evidence of improving unit economics and a multi-year growth cycle. However, while the business is in transition and has disruptive elements, it is not a pure-play disruptor and some advantages (framework agreements, margin expansion) are still emerging. Revenue and EPS growth are strong but not at hypergrowth levels. Signal is solid but not at the highest possible tier due to some legacy exposure and the competitive, cyclical nature of infrastructure.
Miniso (MNSO) Q1 2025: Overseas Revenue Jumps 30% as Direct Store Push Reshapes Margin Profile
Miniso demonstrates a long reinvestment runway (DOS and international expansion), recent 30% overseas growth, and improving unit economics in new store formats. There are clear levers for compounding (IP, direct stores), but self-reinforcement and customer deepening are still emerging, not fully proven. The business is a growth story, not legacy, but margin compression and execution risk temper the signal. It is not a disruptive model, but shows some lateral opportunity. Revenue growth is strong but not at hypergrowth (40%+) levels.
Lumentum (LITE) Q3 2025: Cloud and Networking Revenue Jumps 16% as EML Capacity Remains Sold Out
Lumentum is exhibiting strong growth in cloud and networking with clear demand outstripping supply, margin expansion, and a runway for further growth. However, runway is not unambiguously long (due to customer concentration and supply constraints), and while unit economics and customer value are improving, there are still material risks from tariffs, execution, and industrial tech drag. The business model is not fully disruptive but has some lateral opportunities. Growth is strong but not at the very highest tier, and cash flow is improving but not yet exceptional.
Kymera (KYMR) Q1 2025: $20M Milestone Validates Immunology Focus as IRF5 and STAT6 Pipeline Accelerates
Kymera offers a long reinvestment runway with high ROIC potential, a disruptive oral degrader model, and a clear pivot to high-value immunology assets. There is a major pipeline acceleration, external validation (Sanofi milestone), and a fortified balance sheet. However, while growth potential is high, the business is not yet at a stage of massive revenue/earnings compounding, and some elements (unit economics, cash flow acceleration) are still emerging rather than proven. Signal is strong but not at the very top end for a widely followed or already well-known biotech.
Cal-Maine Foods (CALM) Q1 2026: Specialty and Prepared Foods Drive 800%+ Growth Shift
Cal-Maine is transitioning toward higher-margin, value-added categories with strong recent growth (notably prepared foods up 800%+), but its core remains a mature commodity business. There is clear improvement in mix, margins, and customer value, but the business does not have the disruptive, network-driven model or long reinvestment runway of a true compounder. Growth is strong but not at a transformative, hypergrowth level, and risks (avian flu, commodity exposure) remain material.
AngioDynamics (ANGO) Q1 2026: MedTech Mix Reaches 47% as Mechanical Thrombectomy Grows 41%
While MedTech growth is robust and the mix shift is a clear positive, AngioDynamics is not a widely followed business with explosive upside. Growth rates are strong but not at the highest tier, and the business model, while transitioning, is not fully disruptive. There is clear improvement in unit economics and customer value, but runway and competitive moats are not as deep as the highest-signal names.
SPNT Q3 2025: Insurance Segment Grows 49%, Underwriting Discipline Drives Low Volatility Returns
While SiriusPoint demonstrates strong growth in its insurance segment and prudent capital management, the business does not exhibit the kind of massive, disruptive growth or reinvestment optionality that would warrant a higher signal score. The company is transitioning well and showing improving economics, but the long-term upside is somewhat capped by the nature of specialty insurance. The signal is solid but not exceptional.
LPA (LPA) Q4 2024: Occupancy Jumps 400bps to 98.3%, Fueling NOI Expansion and Mexico Entry
LPA demonstrates strong growth, high occupancy, improving NOI, and a new market entry, but it is not a truly disruptive or hyper-growth business. The business model has some self-reinforcing elements (pre-leased, institutional-grade assets, pricing power), but network effects and customer deepening are moderate. Revenue/EPS growth is solid but not at the extreme end. The business is growth-oriented and investable, but signal is capped by the sector's maturity and the company's scale.
Silicon Motion (SIMO) Q3 2025: PCIe 5 Controller Revenue Jumps 45%, Fueling Market Share Ambition
SIMO demonstrates a long reinvestment runway with high ROIC, clear business model compounding, and disruptive elements in controller innovation. Recent growth is strong (22% revenue, 45% PCIe 5), but not at the 'exceptional' acceleration level. Unit economics are improving, but not at the level of a giant platform. Customer value is increasing but not consistently deepening. The business is transitioning to growth, but not in hypergrowth territory. Signal is strong for a mid-cap semiconductor, but not at the upper echelon for disruptive tech.
Trip.com Group (TCOM) Q1 2025: Inbound Travel Surges 100% as Policy Tailwinds and AI Drive Global Momentum
Trip.com is a well-followed, scaled business with moderate optionality and strong growth in inbound and international segments, but the runway is not exceptional (score reduced for being mature and already well-known). There is a major business evolution with 100% inbound growth and strong mobile/AI leverage, but the business model, while digitally enabled, is not deeply disruptive. Unit economics and customer value are improving, but not at a level to merit top scores. Overall, the signal is solid but not extraordinary for upside.
Galapagos (GLPG) Q1 2025: €111M Restructuring Charge Signals Cell Therapy Pivot and SpinCo Split
Galapagos is undergoing a significant strategic shift with a long potential reinvestment runway and disruptive business model (decentralized CAR-T and SpinCo structure). The restructuring and pipeline focus provide evidence of business evolution, but true scale economics and customer value deepening remain to be proven. Growth is expected but not yet at exceptional levels, and much of the upside depends on execution in 2025. The business is transitioning, not yet a proven growth engine, but the optionality and inflection are clear.
Frontline (FRO) Q1 2025: Spot VLCC Bookings Jump 52% as Sanctions Tighten, Positioning Upside
Frontline is well-positioned for upside due to sanctions and spot leverage, but the reinvestment runway is moderate (not long-duration compounding), and the business model, while exposed to positive catalysts, is not fundamentally disruptive. Backlog/guidance signals strong near-term growth but not hypergrowth. The article signals a high-quality, cyclical opportunity with substantial optionality but not a truly exceptional compounding story.
Euronet (EEFT) Q1 2025: Money Transfer Digital Volume Up 31%, Accelerating Diversification
Euronet is showing strong digital and cross-border transaction growth, but the business is not a new disruptor and its reinvestment runway, while solid, is not exceptional. Unit economics, customer value, and business model improvements are evident, but the business is not likely to deliver 40%+ growth or become a giant. The signal is above average but not at the highest level due to business model maturity and industry familiarity.
Interactive Brokers (IBKR) Q3 2025: Client Equity Surges 40%, Global Platform Drives Record Activity
IBKR is a high-quality compounder with strong reinvestment opportunities, improving unit economics, and a disruptive, tech-led model. However, while growth is robust, there is no evidence of a recent step-function acceleration or backlog surge, and forward growth is solid but not at hypergrowth levels. The business is not new or underfollowed, which tempers the signal score. Still, the article surfaces meaningful drivers and upside for investors.
Diversified Energy (DEC) Q1 2025: Maverick Acquisition Drives 200% Free Cash Flow Uplift Path
The business shows strong free cash flow acceleration, a major acquisition driving synergy, and new revenue streams, but the reinvestment runway and business model, while differentiated, are not highly disruptive or network-driven. Growth is robust but not hyper-scaling, and there are moderate signs of optionality and compounding, rather than exceptional. The signal is solid for a mature E&P roll-up but does not reach the highest bar for disruptive, high-compounding growth.
Palo Alto Networks (PANW) Q3 2025: Next-Gen Security ARR Surges 34% as AI and Platformization Drive Inflection
While PANW is a leader with strong growth and operational execution, the business is already well-followed and mature for its size. Growth rates are strong but not at the hypergrowth level for a business of this scale. There are clear signs of platformization and AI-driven inflection, but the reinvestment runway, while substantial, is not uncapped. The business is transitioning to greater recurring revenue and software mix, with some disruptive elements, but the overall opportunity is well understood by the market.
Dave (DAVE) Q1 2025: ARPU Jumps 29% as New Fee Model Drives Monetization Flywheel
Dave is showing strong monetization improvement and ARPU growth, with a compelling data moat and improving unit economics. However, the business is not yet proven to have a long, uncapped reinvestment runway, and while growth is solid, it is not at a hypergrowth or truly disruptive level. The model is improving but not yet dominant versus peers. Risks around credit normalization and execution on new products temper the overall signal.
Upbound Group (UPBD) Q1 2025: Acima GMV Climbs 9%, Margin Expansion Signals Durable Growth
The business is showing moderate to strong growth and margin expansion, with some disruptive elements and optionality (Bridget, digital, Mexico). However, the underlying business is not highly novel or explosive, and some segments are mature or in transition. The signal is strong, but not at the level of a truly exceptional, high-multiple growth story.
Construction Partners (ROAD) Q4 2025: Backlog Up 18 Quarters, Sunbelt Expansion Drives 26% Growth Path
ROAD is a strong growth platform with clear backlog visibility, robust organic and acquisitive growth, and accelerating cash flow. However, it is not a disruptive business and its reinvestment runway, while solid, is not exceptional or likely to deliver outsized returns relative to more innovative sectors. The business model is not self-reinforcing in the tech sense, and customer value improvements are steady but not explosive. The outlook is strong but not at the highest level of signal for valuation upside.
DelCast Systems (DCTH) Q3 2025: Chopin Data Drives 150% Hepsado Volume Surge Despite Patient Start Dip
DelCast shows clear growth signals: a long reinvestment runway, a major clinical inflection, and customer value deepening. However, operational bottlenecks, pricing headwinds, and reliance on a small patient base temper the signal. Unit economics are good but not exceptional; business model is semi-disruptive but exposed to execution risk. Growth is strong but not at the very top tier. The business is not widely followed, but the signal is somewhat capped by operational and pricing uncertainties.
Las Vegas Sands (LVS) Q3 2025: Marina Bay Sands EBITDA Surges Past $2.1B YTD, Redefining Singapore Profitability Ceiling
LVS shows a strong reinvestment runway in Singapore and accelerating cash flow, with a disruptive element in smart table gaming. However, Macau margin compression and the mature nature of the core business (casinos) moderate the overall signal. There is some improvement in unit economics and customer value, but not at a level to warrant top marks. The business is clearly in growth mode with exceptional Singapore results, but Macau remains a transition story with some execution risk.
SAP (SAP) Q3 2025: Cloud ERP Suite Drives 31% Growth, AI Pulls Major Deals Forward
SAP is a mature, well-followed business with strong cloud and AI momentum, but not a new or undiscovered growth story. There is clear improvement in unit economics, self-reinforcing business model, and deepening customer value. Backlog growth and guidance are solid but not exceptional. The business is transitioning to growth, but the runway is not as long or disruptive as earlier-stage tech. Revenue growth is strong but not at hypergrowth levels, and much of the story is already well-understood by the market.
Compass Pathways (CMPS) Q1 2025: $260M Cash Extends Runway to 2026 as Phase 3 Readout Nears
Compass Pathways is at a pivotal inflection with a potentially disruptive, high-growth business model if Phase 3 is successful. The reinvestment runway is long, and the business could be exceptional if data is positive, but current evidence on unit economics, customer value, and cash flow is still emerging. The signal is strong, but some elements (mature network effects, accelerating cash flow) are not yet proven.
Hasbro (HAS) Q3 2025: Wizards Revenue Soars 42% as Magic Drives Digital Expansion
Hasbro is not an under-followed or niche business, so signal is capped. Wizards' growth is exceptional and Magic is driving digital expansion, but the legacy consumer segment is mature and margin-pressured. There is strong recent growth in Wizards, but overall company reinvestment runway is moderate, and while digital/IP is disruptive, the total business is not deeply transformative. Cash flow is solid but not accelerating at a disruptive pace. The piece demonstrates clear growth and strategic inflection, but the business is not a high-multiple, underappreciated platform.
Catalyst Pharmaceuticals (CPRX) Q1 2025: Net Income Jumps 144% as Rare Disease Portfolio Drives Durable Growth
Catalyst Pharmaceuticals demonstrates a long reinvestment runway and high returns potential with only 25% market penetration in its lead asset and strong organic growth. There is a recent significant uptick in both revenue and net income. Unit economics and operational leverage are improving. The business model shows some self-reinforcing elements, but network effects or deep moats are not dominant. Customer value is modestly improving but not exceptional. Growth is robust but not yet at hypergrowth levels (>40%). The business is growth-oriented with some disruptive elements, though not a pure disruptor. Cash flow is increasing, but not at an accelerating pace. Overall, the signal is strong but not at the very top tier due to some maturity in the portfolio and lack of truly exceptional growth acceleration.
Carpenter Technology (CRS) Q1 2026: SAO Margins Surge to 32% as Aerospace Bookings Jump 23%
CRS is showing strong momentum, with record margins, significant order acceleration, and clear pricing power. However, the business is still largely tied to cyclical aerospace/defense markets, and while the growth is robust, the reinvestment runway and disruption potential are moderate, not exceptional. The business is a high-quality cyclical, not a secular compounding outlier.
Cord Energy (CHRD) Q1 2025: Four-Mile Laterals Cut Capital 24%, Redefining Inventory Economics
Cord Energy demonstrates strong capital efficiency improvements and a clear strategic lever with the four-mile laterals, supporting a long reinvestment runway and improved economics. However, while the developments are material, the business remains moderately mature and lacks the disruptive, network-effect profile of a true outlier. Revenue and EPS growth are not projected to exceed 40%, and customer value deepening is present but not exceptional. The company is a growth business with a strong outlook, but not an extraordinary one in terms of signal for massive upside.
CECO (CECO) Q1 2025: Bookings Surge 57% as $5B Pipeline Expands, Margin Leverage in Focus
CECO demonstrates a strong growth profile with a record backlog, accelerating bookings, and clear margin improvement, but some elements (network effects, customer value deepening, and business model disruptiveness) are present but not world-class. The business is transitioning toward a higher-quality, more predictable model, but is not yet at the level of a dominant, highly compounding platform. Signal is high, but the company is not a household name or a clear 10x opportunity, warranting a conservative approach.
Intuit (INTU) Q3 2025: AI-Driven Tax and Business Platform Accelerates Revenue, TurboTax Live Surges 47%
Intuit shows strong growth, margin expansion, and AI-driven business model evolution, but the business is already well-known, mature, and widely followed. While there are areas of accelerating growth (TurboTax Live, Credit Karma rebound), the reinvestment runway is not as long or disruptive as a less mature platform. Some elements (MailChimp, mid-market) are still early, but the core business is established. The signal is solid but not exceptional given the company's scale and visibility.
MiMedx (MDXG) Q3 2025: Wound Sales Jump 40% as Medicare Reform Looms
MiMedx is showing robust growth and strong operational metrics, but the business, while improving, does not have the clear hallmarks of a truly exceptional or highly disruptive model with massive optionality. The reimbursement reform is a significant catalyst, but there is regulatory risk and the competitive moat, while improving, is not yet dominant. The business is a growth story, but not at the level of the most exceptional compounders.
Certara (CERT) Q1 2025: FDA Animal-Testing Shift Spurs 23% Software Bookings Jump
Certara benefits from a long reinvestment runway and a disruptive regulatory-driven inflection, with software bookings up 23% and strong recurring revenue. However, unit economics, customer value deepening, and cash flow are improving but not yet exceptional, and growth guidance is solid but not hyper-growth. The business model is disruptive and the regulatory shift is a game changer, but persistent end-market headwinds and the timeline for full impact temper the overall signal.
TrueBlue (TBI) Q3 2025: Skilled Revenue Jumps 17% as Energy and Drivers Fuel Growth
TrueBlue is showing clear growth in specialized verticals with double-digit expansion and improving unit economics, but the overall business is not highly disruptive or likely to deliver outsized growth (over 40%) on an ongoing basis. The reinvestment runway is moderate; while there is margin and growth upside, it's not a category-defining business. The signal is solid, but not exceptional.
AngioDynamics (ANGO) Q3 2025: MedTech Surges 22% as AlphaVac Adoption Accelerates
The business is showing strong growth in its MedTech segment, with clear evidence of margin expansion, positive EBITDA inflection, and high growth rates in key products. However, the reinvestment runway, business model defensibility, and future growth rates are somewhat capped by reimbursement risk and the company’s smaller size in a competitive medtech landscape. While there is a substantial inflection, the opportunity is not quite at the level of a truly exceptional, disruptive, or giant-in-the-making business.
Altimmune (ALT) Q1 2025: $100M Credit Facility Extends Runway as MASH Phase 2b Readout Nears
Altimmune is a high-risk, high-reward clinical-stage biotech with a disruptive platform approach and a potentially long runway if pembidutide succeeds. However, while the business is positioned for rapid growth, much is contingent on near-term clinical outcomes, and some elements (unit economics, cash flow) are not yet proven at scale. The signal is strong for a biotech at this stage but not extraordinary given the binary risk profile.
Quantum Computing Inc. (QUBT) Q1 2025: $87.5M Cash Infusion Fuels Foundry Launch and Quantum Adoption
QCI is early-stage but shows long runway and disruptive potential, with a major capital raise, foundry launch, and early customer validation. However, revenue and unit economics are still nascent, and while growth potential is high, proof of scale and compounding effects remain to be seen. Signal is strong for a pre-commercial business, but not at the highest level due to limited current financial traction.
Allegro MicroSystems (ALGM) Q4 2025: Backlog Up 20% as E-Mobility and Data Center Demand Signal Recovery
Allegro is emerging from a cyclical trough with strong backlog growth, margin recovery potential, and exposure to secular growth in e-mobility and data centers. However, while the business is improving and has clear growth levers, it is not a truly exceptional or disruptive story, and some compounding advantages (network effects, deepening customer value) are only partially present. Guidance is solid but not exceptional, and the business, while attractive, is not likely to deliver explosive upside.
TMC (TMC) Q1 2025: $37M Capital Raise Unlocks U.S. Deep Sea Mining Pathway
TMC is pre-commercial but has a very large resource base, a disruptive business model, and a major regulatory catalyst that could open a long runway. However, unit economics and cash flow are not yet proven, and while the regulatory inflection is material, execution risk remains high. Growth is potential rather than realized, so scores are conservative where appropriate.
Seagate (STX) Q1 2026: Data Center Drives Hit 80% Mix as Hammer Ramp Accelerates Margin Expansion
Seagate is transitioning into a higher-growth, higher-margin business with strong recent results and a structural mix shift, but it remains a well-followed, large-cap incumbent in a cyclical industry. While there are clear signals of margin expansion, order visibility, and secular tailwinds from AI and video, the reinvestment runway is moderate rather than exceptional, and some elements (e.g., customer value deepening, business model disruption) are present but not best-in-class. The signal is strong but not extraordinary for a business of this scale.
AudioEye (AEYE) Q1 2025: Enterprise Channel Climbs 26% as EU Pipeline Accelerates
AudioEye is a growth business with a long runway, driven by regulatory catalysts and enterprise expansion, but not a category-defining disruptor or at a stage of hypergrowth. Unit economics and margins are improving, but some customer cohort retention is mixed. The business model is semi-defensible with some compounding elements, but not fully self-reinforcing. Revenue and EBITDA are growing at a healthy clip, but not at a level that would warrant a top decile signal score. The pipeline and ARR acceleration are promising, but the company is not breaking out as a truly exceptional outlier yet.
AbSci (ABSI) Q1 2025: ABS-101 Enters Clinic, Unlocking First-in-Human Milestone
AbSci is at a key inflection, moving into clinical development with multiple value drivers, regulatory tailwinds, and a disruptive AI-enabled business model. However, the business is still early in demonstrating improving unit economics, self-reinforcing effects, and customer value deepening. Growth is strong but not yet at an exceptional, proven level, and cash flow is not yet accelerating. The signal is substantial but not at the highest level due to the early stage and remaining execution risk.
BWXT (BWXT) Q2 2025: Backlog Soars 70% as Government and Nuclear Demand Ignite Pipeline
BWXT demonstrates a strong backlog and multi-year revenue visibility, with some disruptive and growth elements. However, while the business is robust and the outlook positive, it is not an undiscovered or highly disruptive story, and some metrics (customer value, model compounding) are improving but not exceptional.
Cognizant (CTSH) Q3 2025: Large Deal TCV Climbs 40% as AI Builder Model Drives Nonlinear Gains
Cognizant is showing strong growth and a clear structural shift with AI-driven delivery, large deal momentum, and improved unit economics. However, while the business is transitioning and has disruptive elements, it is not a breakout, high-growth disruptor on par with the most exceptional opportunities. The reinvestment runway is solid but not extraordinary, and operating leverage is improving. Signal is strong, but the company's maturity and sector dynamics cap the upside.
Virtu (VIRT) Q3 2025: Capital Base Grows $500M as Firm Shifts to Broad-Based Expansion
Virtu demonstrates a significant capital base expansion and a shift to broad-based growth, with high incremental returns on capital and recurring revenue streams. However, while the business is showing strong growth and reinvestment optionality, it is not an undiscovered or highly disruptive story, and some elements (such as the business model's self-reinforcement and customer value deepening) are present but not exceptional. The signal is strong, but the upside is somewhat capped by the business's established nature.
Boston Scientific (BSX) Q1 2025: Cardiology Soars 31%, Offsetting $200M Tariff Headwind
Boston Scientific is a large-cap, well-followed medtech business with strong growth in key franchises (notably cardiology and EP), but it is not an undiscovered or early-stage compounding story. There is evidence of strong unit economics and customer deepening, and the recent 31% cardiology and 145% EP growth are notable, but the business model, while innovative, is not disruptive in the classic sense and has some maturity. The guidance raise and margin expansion are positive, but the overall signal is solid, not exceptional or unique.
OGE (OGE) Q3 2025: Normalized Load Growth Hits 6.5%, Driving CapEx Acceleration and Data Center Pursuit
OGE shows strong, above-peer load growth and clear capital redeployment opportunities, but as a regulated utility, the reinvestment runway and disruption potential are more modest than high-growth tech or industrials. The business is growing and has some exceptional near-term drivers (data centers, industrial loads), but is still fundamentally a utility with capped returns and moderate optionality. Signal is solid for the sector, but not extraordinary.
CoreMedix (CRMD) Q1 2025: R&D Spend Jumps 281% as DefendCath Uptake Expands
CoreMedix shows a strong reinvestment runway and high growth in key segments, with a major R&D ramp and channel expansion. However, some elements (business model self-reinforcement, customer value deepening, and future growth) are promising but not yet exceptional or fully proven. The business is transitioning to growth, but LDO onboarding and clinical data are still swing factors, moderating the overall signal score.
Autolus (AUTL) Q1 2025: 39 Centers Activated, Laying Foundation for U.S. CAR-T Expansion
Autolus demonstrates a long reinvestment runway, disruptive business model, and rapid center expansion, but unit economics, self-reinforcement, and customer value deepening are still developing. Growth is strong but not yet at the highest levels, and operational risks remain as the company transitions from launch to scale.
Teradyne (TER) Q3 2025: AI-Driven Revenue Hits 50%, Reshaping Segment Mix for 2026
Teradyne is undergoing a significant business model shift with AI now driving the majority of revenue, and recent growth is strong, but the business is still subject to demand lumpiness and concentration risks. There is evidence of improving unit economics and a long runway in AI test, but some legacy segments remain weak and the business is not wholly disruptive. While growth is solid, it does not reach the highest acceleration thresholds, and customer value deepening is present but not exceptional.
FlowServe (FLS) Q3 2025: Nuclear Bookings Hit Record $140M, Power Pipeline Signals Multi-Year Upside
FlowServe is showing a clear pivot to higher-quality, less-cyclical business lines with a visible margin and cash flow inflection. The nuclear and aftermarket opportunity is substantial, but the business is not highly disruptive or at the very early stages of a multi-year hypergrowth cycle. The reinvestment runway is strong but not exceptional, and while backlog and guidance are improving, the business is not likely to deliver 40%+ annual growth. The business model is improving but not yet self-reinforcing at a dominant scale. Overall, signal is strong for a quality industrial, but not at the highest level for disruptive or hypergrowth businesses.
RingCentral (RNG) Q3 2025: AI-Led ARR Set to Top $100M, Driving Margin and Cash Flow Expansion
RingCentral is executing a credible transition to an AI-led multi-product platform, with strong ARR growth in new products and accelerating free cash flow. However, the business is not entirely new or undiscovered, and while growth is solid, it is not at a hyper-growth inflection. Margins and cash flows are improving, but the reinvestment runway and disruptive potential, while present, are not at the highest possible level. The business is a transitioning growth story with some exceptional elements but not a breakout, under-the-radar opportunity.
Silicon Labs (SLAB) Q3 2025: Gross Margin Surges 350bps on Industrial Mix Strength
The business is growing rapidly (24% YoY, 34% guided), with material margin improvement and sector outperformance, but it is not a new or under-followed name and is in a competitive, cyclical space. The reinvestment runway is good but not extraordinary. There are disruptive elements (AI tools, medical/industrial IoT), but the model is not fully self-reinforcing yet. Some growth drivers (asset tracking) are early stage. The signal is strong but not exceptional for a well-known mid-cap semiconductor business.
Abacus Global Management (ABL) Q1 2025: Asset Management Revenue Hits $7.8M, Diversification Strategy Accelerates
Abacus shows strong growth, margin expansion, and clear progress in diversifying its business model, with a long reinvestment runway and double-digit growth. However, while the platform is evolving, the article does not present overwhelming evidence that the business is truly exceptional or disruptive at industry scale yet. Some elements (network effects, customer value deepening, cash flow acceleration) are present but not fully proven, so signal is solid but not top-tier.
Veracyte (VCYT) Q1 2025: Decipher Volumes Jump 37% as Metastatic Launch Expands Prostate Franchise
The business is showing strong growth in its core Decipher franchise, with a clear inflection from the metastatic launch and evidence of improving unit economics and customer value. However, the reinvestment runway, self-reinforcing model, and disruptive potential are present but not exceptional, and the business—while high quality—does not offer the extreme signal of a newly discovered or underappreciated compounder. Guidance is improved, but not at an extraordinary acceleration. Overall, the signal is solid but not at the highest tier.
RCEL Q1 2025: Portfolio Expansion Drives 67% Revenue Surge, Shifts Margin Mix
RCEL has a long reinvestment runway and is experiencing a material business model shift, with a significant increase in TAM and strong revenue growth. However, some elements—such as customer value deepening, business model self-reinforcement, and future growth acceleration—are promising but not yet proven at a compounding or exceptional level. The business is clearly in a strong growth phase, though not yet at the level of a disruptive, dominant platform with accelerating cash flow and network effects.
Revolution Medicines (RVMD) Q2 2025: $2B Royalty Pharma Deal Expands Global Oncology Ambition
Revolution Medicines demonstrates a long reinvestment runway with substantial capital access and a disruptive approach in oncology. The $2B Royalty Pharma deal and pipeline progress are significant, but the business is still in a high-spend, pre-commercial phase with execution risk. Unit economics and customer value are promising but not yet proven at scale, and while growth potential is strong, the company is not yet a cash flow machine. The model is disruptive, but results are pending pivotal trial outcomes.
SEER (SEER) Q2 2025: ProteoGraph 1 Launch Doubles Throughput, Unlocks 20,000-Sample Population Studies
SEER is at a platform inflection with doubled throughput and large-scale study wins, indicating a disruptive model and long runway. However, macro/funding headwinds, modest commercial traction, and early-stage partnership contribution temper the signal. Growth is strong but not explosive, and while the business is transitioning to scale, cash flow is not yet accelerating.
Upwork (UPWK) Q2 2025: AI-Driven GSV Up $80M, Enterprise Acquisitions Set Stage for 2026
Upwork is showing strong growth in AI-driven GSV, premium client segments, and enterprise expansion, but the company is not a new or underfollowed name. The reinvestment runway is moderate, and while there are clear improvements in unit economics and customer value, the business model's self-reinforcing aspects are emerging but not dominant. A few metrics—such as revenue and EPS growth—are good but not in the highest tier. The business is transitioning to a higher value segment but is not a breakout growth story.
Redwood Trust (PI) Q3 2025: Sequoia Loan Locks Surge 53% as Platform Scale Drives Capital Shift
Redwood is demonstrating a strong capital shift to high-return platforms with clear evidence of scale, improving unit economics, and a business model in transition to growth. However, while the business is showing high returns and growth in core segments, it is not a fundamentally disruptive model and the overall sector remains mature, capping runway and future optionality. The growth is notable but not at the highest possible inflection.
Zillow (Z) Q2 2025: Rentals Revenue Accelerates 36% as Multifamily Listings Surge
While rentals growth and multifamily momentum are impressive, Zillow is a well-followed, large-cap company with moderate optionality and some runway, but is not a truly disruptive or underappreciated growth story. The business is transitioning, not yet a high-growth compounding machine, and some elements (network effects, cash flow) are present but not dominant. Signal is above average but not exceptional.
ElectriCore (ECOR) Q2 2025: Growth Investments Raise Break-Even Target by 55% as Truvega Drives Channel Shift
ElectriCore is pursuing a disruptive, multi-channel growth strategy with a long runway and high-margin potential, but cash flow is not yet accelerating and some metrics (unit economics, customer value, self-reinforcement) are improving but not exceptional. The business is in growth mode, but not at breakout velocity, and execution risks remain material.
New Scale Power (SMR) Q2 2025: NRC Approval Triggers 710% Revenue Surge, Readiness for First Major Order
New Scale Power is at a major inflection with regulatory and manufacturing tailwinds, a disruptive business model, and clear long-term runway if commercialization is achieved. However, the business is still pre-revenue from its core product, with unit economics and customer value potential not yet proven at scale. Signal is high but not at the maximum due to these execution and transition risks.
Catalyst (CPRX) Q2 2025: Agamree Revenue Jumps 213% as Oncology Push Accelerates
While Agamree's growth is impressive and there is clear momentum in oncology, the overall business is still transitioning with legacy erosion from Ficompa. There are some signs of improving unit economics and customer value, but network effects and self-reinforcing advantages are not deeply entrenched. The business is growth-oriented but not disruptive at scale, and guidance implies solid, not exceptional, acceleration. The signal is good but not at the highest level for a truly exceptional, high-upside business.
Iron Mountain (IRM) Q2 2025: ALM Organic Growth Hits 42%, Accelerating Shift Toward Diversified Revenue
IRM is showing strong growth in new segments (ALM, data center, digital), with clear improvement in unit economics and margin expansion. However, the reinvestment runway is moderate, as the business is not a classic high-ROIC compounder and faces competitive/fragmented markets. The business model is semi-disruptive but not fully self-reinforcing, and while growth is robust, it is not at the level of a hypergrowth or highly disruptive business. The signal is strong for a diversified, maturing growth platform but not for a truly exceptional or underfollowed compounding story.
Fathom (PHAT) Q2 2025: 39% Revenue Jump Anchors GI-First Pivot and Cost Reset
Fathom demonstrates a strong inflection with sequential revenue growth, cost discipline, and a strategic pivot that increases long-term value. However, while the business is transitioning to growth and has some disruptive characteristics (GI-first, channel flexibility), it is not yet fully compounding or showing exceptional customer deepening. The growth outlook is strong but not yet at the highest acceleration, and some self-reinforcing elements are emerging but not dominant. The signal is above average but not top-tier.
MarketAxess (MKTX) Q2 2025: Block Trading Volume Surges 20% as Protocol Expansion Accelerates
MarketAxess is a strong growth business with disruptive elements, protocol innovation, and international expansion, but the reinvestment runway is not unlimited and some growth levers are maturing. While there are pockets of exceptional growth (block/portfolio trading), the overall business is not at the highest tier of optionality or compounding, and some metrics (unit economics, customer value) are improving but not at a breakout pace. The business is thesis-relevant but not a 'giant in the making.'
GE Aerospace (GE) Q2 2025: Services Revenue Surges 29% as Backlog Hits $175B, Upgrading 2028 Profit Target
While GE Aerospace demonstrates strong operational momentum, recurring revenue, and margin expansion, it is a large, well-followed business with a mature core and moderate growth optionality. The business model is self-reinforcing with improving unit economics, but it lacks the explosive growth or disruptive potential that would warrant a top decile signal score. The backlog and profitability upgrades are material but not transformational, and most upside appears well-telegraphed.
Xeris (XERS) Q2 2025: RecorLev Surges 136% as Commercial Portfolio Drives Guidance Hike
Xeris is a high-growth, multi-product specialty pharma with strong recent uptick (RecorLev up 136%), improving unit economics, and a clear growth runway. However, the reinvestment runway is solid but not exceptional, and the business model is not fully disruptive or self-reinforcing. Cash flow is improving but not yet a machine, and while growth is strong, it is not at a hyper-scaler level. The business is transitioning to a growth model, but pipeline and margin risks temper the signal.
Digital Realty (DLR) Q2 2025: Zero-to-One Megawatt Bookings Surge 18%, Powering Multi-Year Growth Visibility
DLR is a well-followed, large-cap company with a strong growth runway, but as a known leader in data centers, the upside is notable but not exceptional. The business is growing, with improving unit economics and backlog, but not at a disruptive or hypergrowth pace. Model is somewhat self-reinforcing but faces competition and regional adoption lags. The signal is solid, but not extraordinary for a company of this scale.
Monogram Technologies (MGRM) Q2 2025: $13.99M Capital Raise Extends Runway Amid FDA Inflection
Monogram is at a critical inflection with a long potential runway, disruptive model, and credible capital base. However, unit economics and customer value are not yet proven, and while growth could accelerate, it remains contingent on regulatory events. The business is not yet a giant or cash flow machine, and some optionality is unproven, so a conservative approach is warranted.
EVE Air Mobility (EVEX) Q2 2025: $250M Firm Order Secured as Prototype Testing Accelerates
EVE Air Mobility shows disruptive business model potential, a long reinvestment runway, and a major inflection with its first firm order and growing backlog. However, the business remains pre-revenue, with unit economics and customer value only moderately improving due to its developmental stage. Cash flow is not yet accelerating, and while growth prospects are strong, they are not yet exceptional or proven at scale. Execution and funding risks are significant, tempering the overall signal score.
Establishment Labs (ESTA) Q2 2025: U.S. Motiva Sales Reach $10.3M, Fueling 27% Direct Market Surge
Establishment Labs demonstrates a strong reinvestment runway, accelerating U.S. growth, and improving unit economics. The business model shows elements of self-reinforcement and premiumization, though network effects are not dominant. Customer value and cash flow are improving but not exceptional. Growth is robust but not hyper-scale. The business is clearly in a growth phase, with some disruptive traits and clear upside, though not at the very top tier of signal.
Geron (GERN) Q2 2025: Ritello Demand Climbs 17% as Early-Line Adoption Accelerates
Geron displays strong growth signals: accelerating demand, expanding prescriber base, and early-line penetration. However, while the business has clear growth levers, it is not yet a compounding, self-reinforcing model (network effects are limited), and the business is transitioning rather than already exceptional. Some metrics (retention, ARPU, cash flow) are trending positively but not at the highest possible level.
Scholar Rock (SRRK) Q2 2025: September 22 PDUFA Sets Stage for SMA Launch Despite CDMO Observations
Scholar Rock is at a major inflection with a first-in-class launch in a high-unmet-need rare disease, a long global runway, and platform expansion potential. However, network effects and self-reinforcing business model elements are not yet proven, and customer value deepening is only emerging. Growth is strong but not yet exceptional or at massive scale, and some pipeline risk remains. The business is transitioning to growth, with moderate but not explosive signal.
Aurora Cannabis (ACB) Q1 2026: Global Medical Revenue Soars 85% as International Expansion Drives Margin Upside
Aurora's business is showing strong international growth, margin expansion, and a strategic pivot to higher-value markets. However, the reinvestment runway is moderate rather than exceptional, and while growth is strong, it is not at the hypergrowth level across all metrics. The business model is becoming more self-reinforcing but still faces considerable regulatory and competitive risks. The company is clearly a growth business with solid cash flow, but the overall opportunity is somewhat constrained by regulatory and market risks.
PaySign (PAYS) Q2 2025: Patient Affordability Revenue Jumps 190% as Pharma Mix Accelerates
PaySign demonstrates a strong growth inflection with the pharma segment (190% YoY, 41% of revenue), but the overall business is not in a hypergrowth or highly disruptive category, and the legacy plasma segment is mature and cyclical. There is strong evidence of improving unit economics and customer value, but reinvestment runway and business model self-reinforcement are moderate rather than exceptional. Guidance and backlog support growth, but the business is not likely to deliver >40% annualized top-line growth or exhibit truly exceptional compounding characteristics.
Information Services Group (III) Q2 2025: AI Revenue Jumps 2.5x as Recurring Streams Hit 45%
ISG demonstrates strong AI-driven growth (2.5x revenue), a pivot toward recurring revenue, and improving margins, but the business is not exceptionally disruptive or unknown, and its reinvestment runway is moderate rather than exceptional. The business is transitioning with some high growth vectors but not at the scale of a true breakout compounder.
Lucid (LCID) Q2 2025: Uber Partnership Drives $300M Investment, Robotaxi Bet Reshapes Growth Path
Lucid’s Uber robotaxi partnership and $300M investment represent a significant business model evolution and validation, supporting a disruptive, high-optional business model with a long runway. However, persistent negative margins, high cash burn, and unproven demand elasticity temper the overall signal. While growth potential is strong, near-term execution risk and sector volatility limit the signal score.
AMD (AMD) Q2 2025: MI350 Ramp Drives $1B Sequential Revenue Jump, AI Platform Stakes Rise
While AMD is showing strong growth and inflection in AI infrastructure, it is a well-followed large cap and the business model, though evolving, is not fundamentally disruptive versus entrenched incumbents. There is a strong platform ramp and margin leverage, but regulatory and competitive risks remain, and the reinvestment runway is solid but not exceptional. The signal is high for a large cap, but not at the level of a truly undiscovered or paradigm-shifting opportunity.
Perma-Fix (PESI) Q2 2025: Waste Backlog Jumps 67%, Locking in Second Half Visibility
Perma-Fix demonstrates a strong backlog-driven growth inflection, automation-driven margin expansion, and promising PFAS/commercial pipeline, supporting a multi-year runway. However, some elements (network effects, customer value deepening, disruptive model) are present but not dominant, and growth, while strong, is not at the highest tier. The business is transitioning toward recurring revenue but is not yet a clear giant.
OrthoPediatrics (KIDS) Q2 2025: Scoliosis Revenue Jumps 35% as Clinic Expansion Outpaces Plan
The business shows strong growth, high reinvestment opportunity, and clear inflection points (clinic expansion, product launches, free cash flow milestone). However, while the company is outpacing plan and growing in key segments, some elements (network effects, customer value deepening, disruptive model) are present but not yet deeply entrenched or proven to be compounding. Guidance is strong but not at the level of an exceptional acceleration (>30%). The business is growth-oriented but not yet a giant or a clear category killer.
Revolve (RVLV) Q2 2025: Free Cash Flow Surges 424% Amid Margin Expansion and Tariff Volatility
Revolve is showing strong growth and margin expansion, with signs of improving unit economics and cash flow acceleration. There are some disruptive elements (AI, owned brands), but the business is not a pure high-growth disruptor with a massive untapped runway—international and category expansion provide some optionality. The business is not new or under-followed, and while performance is strong, the scale and upside are not at the level of a true compounding outlier. Signal is solid but not exceptional.
Crinetics (CRNX) Q2 2025: $1.2B Cash Runway Secured as Palsonify Launch Nears FDA Decision
Crinetics demonstrates a long capital runway, disruptive pipeline, and a major inflection with the Palsonify launch. However, unit economics and customer value are still emerging rather than proven, and while growth is likely to accelerate, the business is not yet at a stage of exceptional, proven compounding. Signal is strong for a biotech at this stage, but not at the very top end due to execution and adoption curve uncertainties.
CPS Technologies (CPSH) Q2 2025: Revenue Jumps 61% as Capacity Expansion Fuels Record Growth
CPSH demonstrates a strong growth inflection with a 61% revenue surge and clear operational leverage from capacity expansion. The reinvestment runway is solid, with government contracts and new materials opening avenues for further growth. However, while the business model has some self-reinforcing elements, network effects and deepening customer value are only modestly evident. Margins are improving but not yet exceptional, and future growth, while robust, is not at the explosive level that would warrant top scores across all signal criteria. The business is transitioning into a higher growth phase, but execution and adoption risks remain.
Agios (AGIO) Q3 2025: Pyruvate Kinase Franchise Grows 44% as Thalassemia and Sickle Cell Milestones Near
Agios demonstrates a long reinvestment runway, significant growth (44% YoY), improving unit economics, and is approaching critical inflection points. The business model is capital-efficient but not yet fully self-reinforcing or disruptive at scale. Customer value is improving but not rapidly deepening. Guidance and backlog signal growth, but not at an exceptional or breakout level. The business is a growth-stage biotech with upside, but the current scale and runway are not yet extraordinary.
Insmed (INSM) Q3 2025: Brinsupri Launch Drives $28M in Six Weeks, Setting Up Multi-Asset Growth Cycle
Insmed is in a strong growth phase with a multi-asset pipeline, a major new launch, and accelerating late-stage programs. The reinvestment runway is long, and there are signs of improving economics and expansion potential. However, some signal is tempered by early-stage launch risk, payer uncertainty, and the fact that depth of Brinsupri adoption is not yet proven. The business is not yet a clear compounding machine or a disruptive platform with guaranteed outsized upside, but it is clearly transitioning to a growth business with notable optionality.
Bitfarms (BITF) Q1 2025: $300M Macquarie Facility Fuels HPC Pivot, U.S. Power Portfolio Hits 70%
Bitfarms' pivot to U.S.-centric HPC/AI infrastructure and the $300M Macquarie facility provide a long runway and disruptive potential. However, the business is still in transition—unit economics and customer value are not yet proven in the new model, and much of the future growth is contingent on execution and contract wins. Signal is strong but not fully de-risked or exceptional at this stage.
InspireMD (NSPR) Q2 2025: $58M Capital Infusion Fuels U.S. C-Guard Prime Launch Ramp
InspireMD is at a pivotal inflection with a disruptive platform, robust capital, and a long U.S. runway, but actual evidence of accelerating unit economics, customer value deepening, and cash flow is still emerging. The business is transitioning to growth with strong prospects, but upside is contingent on execution and market adoption, so a conservative signal score is warranted.
InspireMD (NSPR) Q2 2025: $58M Capital Infusion Powers U.S. Launch Momentum
InspireMD is at an inflection point with a large addressable market and disruptive platform. The capital raise and U.S. launch provide a long reinvestment runway. However, unit economics and cash flow are not yet proven at scale, and while the business is transitioning to growth, it is not yet a clear high-growth machine. The business model is disruptive, but network effects and customer deepening are still emerging. The signal is strong for a high-potential story but not yet at the highest level for proven, accelerating metrics.
Solescence (SLSN) Q2 2025: Shipment Volume Doubles, Margin Expansion Signals Operational Leverage
Solescence demonstrates strong operational leverage, a doubling of shipment volume, and margin expansion, with evidence of a reinvestment runway and improving unit economics. However, the business model, while showing some self-reinforcing characteristics and innovation, is not fully disruptive or deeply compounding. Customer value is improving but not dramatically. Growth is robust but not at hypergrowth levels. The outlook is positive but tempered by macro and tariff headwinds, resulting in a solid but not exceptional signal score.
Core Scientific (CORZ) Q1 2025: CoreWeave Contracts Fund 90%+ CapEx, Accelerating GPU Data Center Shift
Core Scientific offers a long reinvestment runway via capital-light expansion and disruptive business model, but current unit economics and customer value are still in transition and not yet clearly compounding. There is significant growth potential and a major business evolution underway, but customer concentration and execution risk temper the signal. The business is transitioning rapidly and has strong growth characteristics, but is not yet at the level of a giant or fully diversified, which limits the highest possible signal score.
Sky Bioscience (SKYE) Q2 2025: $9.1M Manufacturing Spend Signals Acceleration Toward Phase 2b Obesity Data
SKYE is positioned in a high-growth, disruptive market with a differentiated mechanism and a long runway if Phase IIa data is positive. The manufacturing ramp and regulatory readiness signal intent for rapid scaling. However, unit economics and customer value deepening are still unproven, and the business model's self-reinforcement is emerging, not yet entrenched. The business is not yet a giant, but the setup is strong for a binary catalyst.
VSE (VSEC) Q2 2025: Aviation Revenue Jumps 41% as Engine Aftermarket Surpasses 50% of Sales
VSE is transitioning into a pure-play aviation aftermarket business, but its reinvestment runway is moderate rather than exceptional. Recent growth is strong (over 40%), and unit economics are improving, but the business model is only semi-disruptive and network effects are not dominant. Customer value is modestly improving, and cash flow is accelerating, but not at an exceptional pace. The company is a growth business, but not one with truly unique or compounding characteristics that would suggest very high upside.
Coveo (TBBK) Q3 2025: Generative AI Solutions Drive 150% Customer and Revenue Growth
The business shows strong segment growth in generative AI and commerce, with 150% YoY expansion, but there are concerns about customer concentration, sales cycle elongation, and a major contract reset. The reinvestment runway is good but not exceptional, and while the business is growing, it is not clearly disruptive or on track for giant status. The company is not a household name, but the signal is somewhat diluted by known risks and lack of clear, exceptional upside.
AESI Q3 2025: Power Pipeline Nears 2 GW as Dividend Suspended to Fund Expansion
AESI is making a significant strategic pivot to power generation, which offers a long runway and potential for high returns, but the business is still in transition and not yet demonstrating exceptional growth or unit economics. The opportunity pipeline is large, but contract conversion and execution risks remain. The business is not yet a clear outlier or 'giant,' but the signal is above average due to the scale of the pivot and secular tailwinds.
MNKD Q2 2025: Blackstone $500M Facility Unlocks Pipeline Acceleration as Tivesa DPI Royalties Climb 22%
MannKind demonstrates a solid reinvestment runway (Blackstone capital, late-stage pipeline), strong recent royalty and prescription growth, and a transition toward a multi-asset model. However, while growth is robust, it is not at the extreme levels (e.g., 40%+ revenue/earnings growth) that would warrant top marks across all dimensions. Unit economics and model self-reinforcement are improving but not yet at 'giant' or dominant-network levels. The business is clearly in a growth phase, but execution risk and reliance on pivotal clinical outcomes temper the overall signal.
Philip Morris (PM) Q3 2025: Smoke-Free Gross Profit Tops $3B as Zyn and IQOS Outpace Industry
PMI is a well-followed, large-cap business with established smoke-free momentum, but the reinvestment runway is somewhat capped by regulatory and category maturity in some markets. Growth is strong but not explosive (mostly in the 10-30% range), and while unit economics and margins are improving, the business is not in hypergrowth. There are disruptive elements and category leadership, but the evolution is more incremental than transformative at this stage. The signal is solid but not exceptional for a sophisticated investor seeking outsized upside.
Commvault (CVLT) Q4 2025: SaaS ARR Jumps 68% as Multi-Product Adoption Accelerates
Commvault is showing strong SaaS ARR growth (68%), robust net retention, and clear transition to recurring revenue, but its overall growth rates (14%–23% guidance) and business model optionality are moderate compared to hypergrowth disruptors. The business is not new or unknown, and while the SaaS pivot is material, the company is not likely to deliver the kind of outsized compounding seen in the most disruptive software models. There is clear improvement in unit economics and platform breadth, but the business is not exceptional in terms of reinvestment runway or growth acceleration.
ADEA (ADEA) Q2 2025: Non-Pay TV Recurring Revenue Surges 28%, Diversifying Growth Engines
ADEA is transitioning into high-growth verticals with a longer runway and some disruptive potential, but unit economics and business model self-reinforcement are still emerging rather than fully proven. Growth is strong but not yet exceptional, and while the business is no longer legacy, it is not yet a clear breakout. Signal is good but not outstanding.
Castle Biosciences (CSTL) Q1 2025: TissueCypher Delivers 117% Growth, GI Expansion Accelerates
Castle Biosciences is showing strong growth in GI diagnostics (TissueCypher 117% growth), but the business is not yet a clear compounding winner with network effects or dominant economics. There is a disruptive angle (multi-omics in GI), but the overall business remains in transition with reimbursement headwinds and moderate cash flow. Growth is above 20% but not at the hypergrowth/exceptional level, and the reinvestment runway is solid but not proven to be exceptional. The business is interesting, but not a top-tier signal for massive upside.
China Yuchai (CYD) Q1 2025: Data Center Engine Shipments Hit 1,000 Units, Fueling 34% Revenue Surge
While the company demonstrates strong recent growth (notably the 34% revenue surge and 39.9% unit volume increase), and is capitalizing on a data center demand inflection, the business is not highly disruptive or unique in its industry. The reinvestment runway is solid but not exceptional, with some limitations due to capacity constraints and competitive pricing. Unit economics are improving and the business is clearly in a growth phase, but it faces risks from supply chain, margin pressure, and the broader transition to new energy. The signal is strong for a traditional industrial, but not at the level of a truly exceptional, high-multiple business.
Rhythm Pharmaceuticals (RYTM) Q2 2025: International Revenue Jumps 24% as HO Pipeline and Global Expansion Accelerate
Rhythm shows strong growth signals with a clear reinvestment runway, pipeline catalysts, and international expansion. However, some elements (unit economics, self-reinforcing model, customer value deepening, and cash flow) are promising but not yet exceptional or proven at scale. The business is a growth story but not yet a breakout or dominant leader.
ACB Q4 2025: Medical Cannabis Revenue Jumps 48% as International Margins Expand
Aurora shows strong growth in international medical cannabis, with a clear inflection in revenue and margins. However, while the business model is improving and showing some disruptive elements, the runway and self-reinforcing features are not yet at the highest level. Growth is robust but not at the extreme end, and some risks (regulatory, competition) remain. The business is transitioning to a growth profile but is not yet a category-defining giant.
Amphenol (APH) Q3 2025: Operating Margin Soars 560bps as AI and Acquisitions Reshape Portfolio
Amphenol demonstrates strong recent growth, margin expansion, and M&A-driven optionality, but as a large, well-followed business, the reinvestment runway is moderate and the business model is only semi-disruptive. While AI and datacom are driving outsized growth, the long-term signal is tempered by the company's maturity and normalization risks. Exceptional growth is present but not likely to persist at current rates. The business remains a high-quality compounder, but not a breakout signal for dramatic re-rating.
PPL (PPL) Q2 2025: $20B Grid Build Drives 9.8% Rate Base Growth as Data Center Load Surges
PPL’s grid build and data center-driven demand provide a long reinvestment runway and strong growth outlook, but as a regulated utility, the business model is not highly disruptive and unit economics, while improving, are not exceptional. The growth is robust for the sector but not at the level of an explosive tech business. The thesis is investable but not unique or highly under-discovered.
CorPay (CPAY) Q1 2025: Corporate Payments Jump 19% as Portfolio Shift Accelerates
CorPay is transitioning toward a higher-growth, recurring-revenue model with a long runway in corporate payments, but is not yet an undiscovered or exceptional growth story. Some metrics (unit economics, self-reinforcement, customer value) are improving but not at best-in-class rates. The business is solidly in growth mode, but not at the highest signal level.
IQ (IQ) Q1 2025: Microdrama Daily Viewing Time Surges 300%, Reshaping User Engagement
IQ's microdrama surge and evolving content model provide moderate-to-strong signal, especially in user engagement and monetization innovation. However, the reinvestment runway, business model defensibility, and growth acceleration are not fully exceptional or disruptive, and international growth is still early-stage. The business is transitioning with some growth elements, but not a clear-cut high-multiple story.
Goosehead Insurance (GSHD) Q3 2025: Digital Agent Investment Targets 40% Premium Growth Trajectory
Goosehead is positioned for growth with a disruptive digital strategy and a long runway, but execution risk remains and some metrics (unit economics, customer value, business model self-reinforcement) are improving but not yet exceptional. Growth is strong but not at the highest tier, and the business is transitioning rather than already a breakout. The signal is solid but not extraordinary.
Capital Clean Energy Carriers (CCEC) Q3 2025: LNG Charter Backlog Climbs 27% as Fleet Pivot Accelerates
CCEC is at a strategic inflection, with a long reinvestment runway, a major backlog increase, and a clear growth trajectory as an LNG pure play. However, while the business model has optionality and is evolving, it is not yet fully disruptive or self-reinforcing at scale. Unit economics are improving but not at a 'giant' level, and future growth is strong but not at hypergrowth rates. The business is transitioning to growth, with some risk around charter execution and macro volatility.
Rivian (RIVN) Q3 2025: R2 Unit Economics Targeted for 50% BOM Reduction, Paving Path to Profitability
Rivian presents a long reinvestment runway and major cost-down inflection with the R2, supported by strong guidance and capital inflows. There is a recent significant development (targeting 50% BOM reduction, new plant build), but unit economics, network effects, and customer value deepening are still emerging rather than proven. Growth is expected but not at hypergrowth rates. The business is clearly transitioning with disruptive ambitions, but execution and demand realization remain key uncertainties. Signal is strong but not exceptional due to these open questions.
2Cows (TCX) Q2 2025: Domains Migration Adds 10M+ TLDs, Accelerating Margin Expansion Path
The business is showing strong double-digit growth with a major inflection via the RADx migration, but is not a truly exceptional or disruptive platform. Unit economics and margins are improving, but the reinvestment runway is somewhat capped by capital constraints, and the business model, while improving, is not highly self-reinforcing. There is some customer value deepening and growth, but not at the highest levels. The business is growth-oriented and transitioning, but not a breakout compounder.
Teekay Tankers (TNK) Q3 2025: Spot Rates Surge 63%, Unlocking Cash Flow Leverage
Teekay Tankers is showing strong growth and cash flow leverage from a cyclical upswing, with recent spot rate surges and accelerated cash generation. However, the business is not truly exceptional or disruptive, with moderate reinvestment runway and no evidence of a structural shift or network effects. Growth is strong but not at a sustained 40%+ level, and the business is cyclical rather than secularly compounding. The signal is solid, but not extraordinary, and much of the upside is market-driven rather than idiosyncratic.
Tygo (TYGO) Q2 2025: EMEA Revenue Hits 76% Mix, Market Share Gains Outpace U.S. Slowdown
Tygo shows strong sequential and YoY growth with a clear EMEA-led expansion and operating leverage, but the business is not a clear-cut disruptor with a long, uncapped reinvestment runway. Recent growth is strong (nearly 90% YoY), backlog is robust, and margin/cash flow inflection is present, but the company is exposed to European volatility and faces convertible debt risk. The business model is improving and growth-oriented, but not yet exceptional or category-defining.
LandBridge (LB) Q2 2025: Fee-Based Revenue Hits 94% as Surface Use Surges, Pore Space Optionality Expands
LandBridge shows evidence of a capital-light, high-margin, recurring-revenue model with a long reinvestment runway and self-reinforcing business model. However, there is no evidence of explosive growth (over 40%) or truly exceptional future guidance. The business is transitioning to a growth platform, but customer value and cash flow acceleration are only moderate at this stage. The model is differentiated but not disruptive at the highest level.
Colliers (CIGI) Q1 2025: Engineering Revenue Jumps 63%, Recalibrating Growth Mix
Colliers is transitioning into a more growth-oriented, recurring revenue business, but is not a category-defining disruptor or an under-followed, high-upside opportunity. While engineering delivered a significant revenue jump (63%), the overall company growth is strong but not explosive across all segments. The business model is improving and becoming more resilient, but reinvestment runway and disruptive potential are moderate. The signal is solid for a large-cap, established platform, but not exceptional.
Arlo (ARLO) Q2 2025: Subscriptions Hit 60% of Revenue, Powering 800bp Margin Expansion
Arlo demonstrates strong subscription growth, margin expansion, and a SaaS pivot, but the business does not present the same long-term reinvestment runway or disruptive upside as best-in-class SaaS names. Growth is solid but not explosive, and while the business model is improving, it is not yet a clear compounding giant. Partnerships and product launches add optionality, but the company still faces hardware-related risks and is not yet a dominant platform.
Intapp (INTA) Q1 2026: Cloud ARR Jumps 30% as Vertical AI and Microsoft Partnership Accelerate Enterprise Expansion
Intapp demonstrates strong ARR growth and vertical SaaS momentum, but the reinvestment runway is moderate rather than exceptional, and much of the business model is established, not disruptive. There is a significant business evolution with cloud and AI, but not at a hypergrowth pace. Unit economics are improving, but not transforming the business into a 'giant.' The model is self-reinforcing and customer value is deepening, but not at the most extreme end. The business is solidly in growth mode, but not at the highest possible signal level for fund managers seeking outsized returns.
Backblaze (BLZE) Q1 2025: B2 Cloud Storage Accelerates to 23% Growth, AI Drives Strategic Upside
Backblaze demonstrates a solid growth profile with a disruptive angle in AI-driven storage, a long reinvestment runway, and improving profitability. However, some elements (unit economics, self-reinforcing model, customer value deepening) are present but not yet at full compounding scale. Growth is strong but not hyper-scaling, and the business is still transitioning upmarket. The signal is above average but not at the highest possible level.
Cord Energy (CHRD) Q2 2025: Four-Mile Laterals Cut F&D Costs by up to 30% as Efficiency Surges
Cord Energy is showing material improvements in capital efficiency and free cash flow, with early evidence of a new operational paradigm via four-mile laterals and AI. However, as a Bakken E&P, its reinvestment runway is moderate, not exceptional, and the business model—while improving—is not deeply disruptive or self-reinforcing beyond operational execution. Growth is solid but not hyperbolic. The company is transitioning from a conventional operator to an efficiency leader, but the signal is limited by the legacy nature of the sector and the absence of truly explosive growth or compounding network effects.
Solescence (SLSN) Q2 2025: Order Backlog Surges to $60M, Margin Expansion in Sight
Solescence shows strong recent growth, a significant backlog surge, and evidence of operational leverage and margin expansion. However, the business is not a clear disruptor, and while the model is improving, it does not show the characteristics of a giant platform or network effect. Growth is strong but not at the highest levels, and future guidance is positive but not exceptional. The business is in transition to a growth model but not yet highly unique or dominant.
BWXT (BWXT) Q1 2025: Commercial Backlog Surges 78% as Nuclear Demand Accelerates
BWXT shows a strong reinvestment runway and is benefiting from a surge in commercial backlog and secular demand, with robust growth in both government and commercial segments. However, while the business model is resilient and growth-oriented, unit economics and self-reinforcing dynamics are improving but not exceptional; growth rates are strong but not explosive, and the business, while advantaged, is not disruptive in the sense of platform or network effect businesses. Signal is solid but not at the highest level for a truly exceptional, under-the-radar compounder.
DCTH Q2 2025: Hepsado Volume Soars 175% as Site Expansion Slows, Margin Pressures Emerge
The business is showing strong growth in kit volume and is expanding into larger oncology markets, but faces real bottlenecks (site activation, margin compression) that limit near-term upside. The reinvestment runway is moderate rather than exceptional, with some disruptive elements but not a clear, compounding moat. Growth is strong but not explosive, and while the business is transitioning to a broader platform, the risks and delays are material.
SIFY (SIFY) Q2 2025: Data Center IRRs Top 20% as Infinite Spaces IPO Unlocks Capital Path
The data center business shows high IRRs and a long reinvestment runway, while the IPO is a significant capital markets development. However, unit economics in digital services remain poor, and the business model is only semi-disruptive. Growth is moderate (not explosive), and while there are positive signals, the overall business is not on the verge of becoming a giant or seeing 40%+ growth. Risks and structural complexity temper the signal score.
Corvus Pharmaceuticals (CRVS) Q3 2025: R&D Spend Jumps 63% as Socolitinib Pipeline Momentum Builds
Corvus has a long reinvestment runway and is at a pivotal growth inflection, with major pipeline catalysts and a disruptive platform. However, while R&D and trial activity are ramping, the business model's self-reinforcing dynamics and customer value deepening are not yet fully proven, and cash flow is not yet accelerating. Growth potential is high but not yet exceptional or de-risked. The business is transitioning toward growth, but execution and funding risks remain material.
Nyxoah (NYXH) Q1 2025: U.S. Commercial Team Doubles as FDA Approval Nears
Nyxoah is at a critical inflection with a potentially long reinvestment runway if U.S. adoption succeeds, but the business is still pre-approval and has yet to demonstrate improving unit economics or compounding network effects at scale. There is high growth potential, but not yet evidence of accelerating cash flow or disruptive dominance. The business is transitioning with strong growth prospects, but risks around execution, reimbursement, and competitive response temper the signal.
BGC (BGC) Q1 2025: OTC Deal Adds $400M Revenue, Catalyzing ECS Scale and Platform Ambition
BGC demonstrates strong growth and a major acquisition, but the business is not exceptionally disruptive or unique in the capital markets space. The reinvestment runway is moderate, with some self-reinforcing elements in the platform, but not at the level of a high-compounding network effect. Growth is robust but not at the upper echelon. The signal is solid for a scaled capital markets player, but not extraordinary.
Boot Barn (BOOT) Q1 2026: Exclusive Brands Hit 40.6% of Sales, Driving 180bps Margin Expansion
Boot Barn demonstrates strong unit economics, a long runway for store growth, and clear margin expansion from exclusive brands. However, it is not a disruptive or exceptional growth story: guidance is solid but not explosive, and while the business is performing well, it is not on a trajectory for hypergrowth or category-defining disruption. Macro and tariff risks temper the signal, and while the business is high quality, it is not likely to deliver outlier valuation upside versus other, more unique secular growth stories.
Travelzoo (TZOO) Q3 2025: Membership Revenue Set to Reach 25% as Club Growth Surges 135%
Travelzoo’s business is evolving with strong membership growth and a clear move toward recurring revenue, but its overall scale, optionality, and moat are more modest than a true compounding disruptor. There is evidence of improving unit economics and a growth trajectory, but the business is not yet exceptional or dominant enough for the highest signal marks. The model is interesting, but not unique or explosive enough to warrant a higher score.
Ardmore Shipping (ASC) Q1 2025: MR Fleet Age Surges Past 14 Years, Tightening Supply Tailwind
Ardmore is positioned in a tightening market with a long reinvestment runway and high returns on capital, but the business is not disruptive or unknown, and growth—while solid—is not at an exceptional or explosive level. There are clear supply-side tailwinds, improving unit economics, and strong capital discipline, but the business is still cyclical and not on track to be a giant. Signal is strong for a sector leader, but not at the highest level for novelty or growth optionality.
Rambus (RMBS) Q3 2025: Product Revenue Climbs 41% as DDR5 Cycle Extends Market Share Gains
Rambus is showing strong growth (41% product revenue), margin improvement, and cash generation, indicating a solid business with improving unit economics and customer value. However, the business is not highly disruptive, and while the DDR5/AI cycle is a strong secular tailwind, the reinvestment runway and model self-reinforcement are moderate rather than exceptional. The growth outlook is robust but not extraordinary (>40% growth is guided for products, but the overall business is not at hypergrowth levels). The business is a growth story, but the signal is not at the highest tier for disruptive, category-defining companies.
Repligen (RGEN) Q3 2025: Analytics Franchise Surges 50%, Driving Portfolio Diversification Momentum
Repligen is showing strong growth and positive inflections, especially in analytics, with evidence of a multi-year runway. However, while growth is robust and guidance is rising, the business is not a true disruptor and some levers (e.g., Asia Pacific, hardware) are still ramping rather than fully compounding. The business model is improving but not yet truly exceptional or dominant. The signal is solid but not at the highest level for asymmetric upside.
Array Technologies (ARRY) Q1 2025: 143% Volume Surge Anchors $2B Order Book Amid Tariff Turbulence
Array shows strong volume growth and backlog stability, but the business is not a clear compounder or highly disruptive model. The reinvestment runway is moderate, with some optionality but not exceptional. Recent developments are significant (143% volume growth), but the sustainability is clouded by policy risk. Unit economics are improving with scale, but margin compression and mix issues temper the upside. The business model shows some self-reinforcement (domestic supply, product innovation), but network effects are not dominant. Customer value is improving, but not consistently deepening. Guidance implies solid growth, but not at hypergrowth levels. The company is transitioning to higher quality, but remains exposed to external shocks. Overall, signal is above average but not exceptional.
MindMed (MNMD) Q2 2025: R&D Spend Doubles as Three Phase 3 Trials Drive Toward 2026 Pivotal Readouts
MindMed is operating in a high-growth, high-ROIC segment with significant optionality if trials are successful. However, as a late-stage biotech, it is not yet self-reinforcing or showing improving unit economics at scale. The business is not yet a cash flow machine, and while growth is strong, it is not yet exceptional or proven at commercial scale. The signal is solid for a biotech, but not at the highest level for long-term compounding.
FTAI (FTAI) Q3 2025: SCI Upsized 33% to $6B, Accelerating Asset-Light Engine Aftermarket Expansion
The SCI upsize and asset-light transition are significant, but FTAI is not a hyper-growth or dramatically disruptive business, and its reinvestment runway is solid but not extraordinary. Margins and unit economics are improving, but the business model, while differentiated, is not truly disruptive at scale. Most metrics point to strong, sustainable growth, but not the kind of exceptional acceleration or optionality that would warrant a top-tier signal score.
Gaia (GAIA) Q2 2025: Igniton Valuation Jumps 165% as Community and AI Initiatives Accelerate
Gaia shows some strong signals: Igniton's valuation jump, double-digit growth, and a platform transition. However, the business is not yet proven as a high-growth, disruptive compounder. While there is clear potential and some metrics are accelerating, scale and self-reinforcement are not yet fully evident, and the company is not yet posting >40% growth or clear compounding economics. Still, the signals are above average for a niche streaming/wellness business.
SEMrush (SEMR) Q2 2025: Enterprise & AI ARR Set to Double, Offsetting 83% Low-End Customer Drop
SEMrush is not an unknown name and operates in a competitive SaaS sector, but the article surfaces a real business model inflection with enterprise/AI ARR set to double. The reinvestment runway, disruptive potential, and revenue growth are good but not exceptional. Unit economics are improving, but low-end contraction and FX headwinds temper the signal. Overall, the signal is above average but not at the level of a truly exceptional, undiscovered compounder.
RBC (RBC) Q4 2025: A&D Sales Jump 10.6% as Capacity Constraints Shape 2026 Growth Path
RBC demonstrates a strong growth runway, with capacity being the only real constraint and double-digit growth in A&D. However, the business is not highly disruptive and, while strong, is not likely to deliver massive valuation upside or network effects. Margins and cash flow are improving but not accelerating at an exceptional pace. The business is a high-quality compounder but not a breakout growth or disruptive story.
Applied Digital (APLD) Q3 2025: $5B Macquarie Capital Infusion Reshapes Data Center Growth Trajectory
Applied Digital is at a meaningful inflection with a major capital infusion and business model pivot, but the business is not yet a clear high-growth compounder. While the capital raise and REIT transition provide a long runway, actual unit economics and customer value deepening are only moderately improving, not exceptional. The business is transitioning with clear growth prospects, but risks around customer concentration, contract renewals, and execution remain. The opportunity is real but not yet in the 'giant' or 'exceptional' category.
Xometry (XMTR) Q2 2025: AI Marketplace Margin Climbs 190bps as Enterprise Adoption Accelerates
Xometry demonstrates a strong, asset-light marketplace model with AI-driven compounding advantages and enterprise expansion. However, growth rates are in the 20-24% range (not >40%), and while margin/ARPU/unit economics are improving, the business is not showing a near-term step-change to hypergrowth. The business model is disruptive and self-reinforcing, but the macro environment and guidance caution temper the signal. The company is a growth business with moderate but not exceptional acceleration.
SharkNinja (SN) Q2 2025: International Sales Jump 20% as Supply Chain Diversification Hits 90%
SharkNinja demonstrates strong growth, international acceleration, and margin improvement, but the business is not highly disruptive or unique in a way that suggests exceptional long-term upside. The reinvestment runway is solid but not extraordinary, and while recent growth is notable, the company operates in a competitive, mature sector, limiting the signal score.
Claritiv (CTEV) Q2 2025: Pipeline Grows 77%, Setting Up Recurring Revenue Acceleration
Claritiv shows a strong pipeline increase and multi-year contract wins, suggesting a solid growth trajectory and some disruptive potential in healthcare IT. However, while the reinvestment runway and recent developments are strong, unit economics, self-reinforcing model, and customer value deepening are improving but not yet exceptional. The business is transitioning toward higher recurring revenue but is not yet a high-growth, compounding machine.
AAMI Q2 2025: Net Flows Surge $13.8B as Enhanced Equity Mandates Drive Record AUM
While the business is showing strong growth and scalability, with record net flows and evidence of margin expansion, it is still an established asset manager in a competitive and mature industry. The runway is good but not exceptional, and future net flows are likely to moderate. The business model is scalable and operationally efficient, but not highly disruptive or network-driven. There are positive signals on cash flow, growth, and client diversification, but not at the level of a truly exceptional or disruptive growth business.
Zscaler (ZS) Q3 2025: ZFlex Drives $65M in Bookings, Unlocking Platform Expansion
Zscaler is a high-quality growth business with a long reinvestment runway, improving unit economics, and a self-reinforcing platform model. However, there is no evidence of a recent 40%+ surge in backlog or acceleration that would warrant a top score on question 2, and growth rates, while strong, are not at hypergrowth levels. The business is innovative and disruptive but is already well-followed and at scale, limiting the upside signal for investors seeking undiscovered opportunities.
Extreme Networks (EXTR) Q4 2025: SaaS ARR Jumps 24% as Platform One and APAC Wins Accelerate Upmarket Shift
Extreme Networks is showing strong growth, particularly in SaaS ARR and international wins, but the business is not truly exceptional or disruptive at the level of a generational compounder. Some levers (MSP, Platform One) are promising but not yet proven at scale. Revenue and EPS growth are solid but not at the highest tier. The business is transitioning upmarket and showing growth, but the reinvestment runway, self-reinforcing model, and customer value deepening are not yet at the highest level.
ACMR Q2 2025: China Revenue Target Raised 67% as Market Share Ambitions Accelerate
ACMR shows a long reinvestment runway, a major China revenue target increase, and product innovation driving growth. However, unit economics and self-reinforcing business model signals are present but not fully proven at scale. Customer value deepening and cash flow acceleration are modest, and while the business is growth-oriented and disruptive within China, international expansion is nascent. Growth is solid but not at exceptional levels, and some risk remains from execution and market volatility.
Agilysys (AGYS) Q4 2025: Subscription Revenue Jumps 43% as Cloud Shift Drives Record Backlog
Agilysys is showing solid growth, a clear SaaS transition, and backlog acceleration, but the reinvestment runway is good rather than exceptional, and the business is not a category-defining disruptor. Unit economics and cash flow are improving, but the international opportunity and large project optionality are not yet fully proven. The business is a strong grower, but not a hypergrowth or truly exceptional opportunity.
UroGen Pharma (URGN) Q2 2025: Zysturi Launch Expands Addressable Market to $5B Opportunity
URGN is transitioning to a much larger addressable market with a new product launch, which offers a long reinvestment runway and growth potential. However, key metrics like unit economics, customer value, and business model self-reinforcement are improving but not yet exceptional, largely due to reimbursement gating and the early stage of the commercial ramp. The business is growth-oriented but not yet demonstrating breakout acceleration or dominant network effects. Signal is good, but not at the highest possible level.
LPL Q3 2025: OLED Revenue Share Hits 65%, Driving Structural Profitability Shift
LPL is in a clear transition, with OLED growth and profitability inflection, but faces customer concentration and market cyclicality. While growth is strong and the business is moving to higher-margin segments, it is not a category-defining disruptor and faces ongoing risk from competition and macro factors. Signal is solid but not exceptional due to these constraints.
Ormat Technologies (ORA) Q1 2025: Storage Revenue Jumps 120% as Segment Mix Shifts
Ormat is showing strong growth in storage and product segments, with storage revenue up 120% and backlog up 142%. However, the business is not a high-profile disruptor and remains somewhat capped in reinvestment runway by its utility/renewables nature. Unit economics are improving, but the business model is not fully self-reinforcing or exceptional, and growth, while solid, is not at the highest tier. The company is transitioning into a growth phase, but risks and legacy headwinds temper the overall signal.
Neurocrine Biosciences (NBIX) Q3 2025: Chronicity Sales Double to $98M as Sales Force Expands 30%
NBIX shows solid growth and outperformance, with a strong launch, double-digit revenue growth, and pipeline momentum. However, the business is not fundamentally disruptive, and reinvestment runway, while good, is not exceptional. Some metrics (like customer value deepening and business model self-reinforcement) are present but not at the highest level. The signal is strong but not at the level of a truly exceptional or undiscovered growth story.
Flutter (FLUT) Q2 2025: U.S. iGaming Jumps 42% as Product Edge Drives Market Share
Flutter is a well-known leader and much of the upside is already recognized by the market. While there is evidence of scale, margin expansion, and improving economics, the runway is not exceptional and recent growth, while strong, is not at a 'very high' inflection. The business is transitioning to higher profitability but is not a new disruptor. Guidance and backlog are strong but not at hypergrowth levels. The article signals solid growth and execution, but not a transformative or underappreciated opportunity.
Flex (FLEX) Q2 2026: Data Center Revenue Jumps 35%, Margin Mix Drives Upward Guidance
Flex is showing strong growth in a hot vertical (AI/data center), with a significant upward revision in guidance and margin mix improvement. However, the business is not highly disruptive and is still exposed to cyclical and regional risks. While there is clear growth, the long-term reinvestment runway and compounding advantages are not as pronounced as in truly exceptional compounders.
Nano-X (NNOX) Q1 2025: Sales Pipeline Doubles, Pushing Toward 100 Arc Deployments by Year-End
Nano-X has a long reinvestment runway with clear optionality (2), and the doubling of its pipeline is a significant development (2). Unit economics are not yet clearly improving at scale (1), and the business model has some self-reinforcing aspects but is not yet dominant (1). Customer value is improving but not dramatically (1). Growth is improving but not exceptional (1). The business model is semi-disruptive (1), and cash flow is not yet accelerating (1). Revenue and EPS growth are likely in the 20-40% range (1). The business is in a growth phase (2). While the signal is solid, it is not at the level of a truly exceptional, compounding business.
Velocity Financial (VEL) Q1 2025: Originations Jump 69% as Commercial Lending Channel Scales
The business is showing strong growth, with record originations and a scaling commercial channel, but it is not a truly disruptive or exceptional growth story. The reinvestment runway is moderate, and while unit economics are improving, the business model is not deeply self-reinforcing. Growth is robust but not at a hypergrowth or truly exceptional level. The business is not widely followed, but the upside is more incremental than transformational.
OptimizeRx (OPRX) Q2 2025: Contracted Revenue Up 30%, Expanding Mid-Market Pharma Penetration
OPRX shows strong recent acceleration (contracted revenue up 30%, revenue up 55%), but the reinvestment runway and business model moats are moderate rather than exceptional. Unit economics and profitability are improving, but network effects and disruptive potential are emerging rather than dominant. Growth is robust but not at extreme levels, and the business is transitioning to a more diversified, growth-oriented model. The signal is solid but not extraordinary.
Fulcrum Therapeutics (FULC) Q3 2025: Cash Runway Extends Into 2028 as Sickle Cell Data Drives Clinical Momentum
Fulcrum has a long cash runway and is progressing a late-stage asset with clear inflection points, supporting a high reinvestment runway. There is a significant development with the 20mg cohort and pending pivotal data. Unit economics and cash flow are improving, but the business model is not fully self-reinforcing yet and customer value deepening is not yet proven. Growth is strong but not at 40%+ levels, and the company is still in transition from clinical to commercial. The signal is solid but not exceptional given the stage and uncertainties.
Sentara Gold (CGAU) Q3 2025: Mount Milligan Reserves Jump 56%, Extending Mine Life and Cash Flow Visibility
Sentara Gold’s reserve expansion and mine life extension at Mount Milligan are highly material, with clear long-term cash flow implications. The business is solidly growth-oriented with a self-funded, disciplined approach. However, while the runway is extended and operational delivery is strong, the business model is not highly disruptive and unit economics improvements are present but not exceptional. The signal is strong for a mid-cap mining business, but not at the level of a transformative, high-velocity growth story.
Arbe Robotics (ARBE) Q2 2025: OEM Radar Selection Narrows to 2 Contenders, Paving Way for 2028 Launch
Arbe Robotics is at a strategic inflection, with a long runway and disruptive model, but current financials are pre-ramp and growth is not yet exceptional. The business is transitioning, with strong optionality in non-auto segments and a credible path to high-volume auto, but evidence of accelerating unit economics or near-term high growth is limited.
Clean Harbors (CLH) Q3 2025: PFAS Revenue Jumps 25%, Waste Network Drives Margin Expansion
Clean Harbors has clear growth levers (PFAS, network utilization), improving margins, and strong cash generation, but the business is not highly disruptive and is somewhat mature in its core waste management segment. While PFAS offers a secular tailwind, overall growth rates and reinvestment runway are moderate, not exceptional. The business is resilient and well-positioned, but not likely to deliver outsized upside or become a high-growth compounder.
Roivant (ROIV) Q1 2025: $1.5B Buyback Shrinks Float 15% Ahead of Brepocitinib Readout
Roivant shows strong capital allocation, a long reinvestment runway, and multiple late-stage catalysts, but the business is still in transition and not yet demonstrating exceptional growth or self-reinforcing business model dynamics. Unit economics and customer value are improving but not at an exceptional pace, and while the business is growth-oriented, it is not yet a clear outlier in terms of disruptive potential or cash flow acceleration.
Achieve Life Sciences (ACHV) Q2 2025: $49M Capital Raise Primes Cytisinicline Launch Path
Achieve Life Sciences is at a strategic inflection with a first-in-class drug, a long reinvestment runway, and a significant capital raise. The NDA submission and commercialization plans indicate strong growth potential, but the business is still pre-revenue and faces execution and regulatory risks. While the model is disruptive for its category, network effects and compounding advantages are not yet proven. The signal is strong for a biotech at this stage, but not exceptional.
Ormat Technologies (ORA) Q2 2025: Product Backlog Jumps 59% as Permitting and Policy Tailwinds Accelerate Growth
Ormat is benefiting from strong secular and policy tailwinds, a surging backlog, and clear growth in storage and product segments. However, while the reinvestment runway and backlog growth are compelling, some aspects (unit economics, business model self-reinforcement, customer value expansion) are not yet at the 'giant' or 'exceptional' level. EGS remains an upside lever but is still unproven at scale. The business is a growth story with moderate disruption and cash flow improvement, but not at the highest level of signal.
Health Catalyst (HCAT) Q1 2025: Ignite Platform Drives 10 Net New Clients, Accelerating Tech Mix Shift
Health Catalyst is executing a meaningful business model transition with a clear runway for tech-led growth. The Ignite platform is driving client wins, margin expansion, and improved operating leverage, but the company is not yet a breakout, high-growth compounding machine. Some metrics (unit economics, customer value, business model self-reinforcement) are improving but not exceptional, and risks around funding and retention remain. Signal is solid but not extraordinary.
Burford Capital (BUR) Q2 2025: New Commitments Surge 71%, Deepening Portfolio Diversification
Burford demonstrates a long reinvestment runway and significant recent growth in commitments, but the business is not a hypergrowth or truly disruptive model. Unit economics are strong but show some variability due to portfolio mix. The business model has some self-reinforcing elements (capital access, scale), but network effects are not dominant. Customer value and cash flow are improving but not accelerating at a disruptive pace. The company is a growth business, but not one with exceptional signal for massive valuation upside.
TransDigm (TDG) Q3 2025: Commercial OEM Revenue Down 7% as Aftermarket Margins Hold at 54%
TransDigm exhibits strong margins, recurring aftermarket revenue, and disciplined capital allocation, but lacks the kind of explosive growth or disruptive runway that would justify a higher signal score. The business is mature with moderate growth and high profitability, but does not present a new inflection or massive upside optionality. Still, its model is robust and self-reinforcing.
AirCap (AER) Q3 2025: Buybacks Top $2B as Asset Sale Margins Double Book Value
AirCap is benefiting from a structurally tight supply environment and is executing well on asset monetization and capital returns. However, it is a large, relatively well-known player in a mature industry, and while there is some growth and capital return upside, the business is not highly disruptive or on the verge of hypergrowth. The model is self-reinforcing to a degree, but not at the level of a true compounding network effects business. The signal is solid but not exceptional for a fund manager seeking asymmetric upside.
Verisim Oncology (VSTM) Q3 2025: 133 Prescribers Drive First Full Quarter Launch Momentum
Verisim is an emerging commercial-stage biotech with a new launch showing strong early momentum, a robust pipeline, and good capital runway. The reinvestment runway appears long, and the business is transitioning into a growth phase with potential for disruption if pipeline milestones are met. However, unit economics, business model self-reinforcement, and customer value deepening are still developing rather than fully proven at scale. Growth is strong but not yet at the highest tier, and the business is not yet a cash flow machine. Signal is solid but not exceptional.
Waters (WAT) Q3 2025: Chemistry Up 13% as Bioseparations and Pharma Drive Multi-Year Growth
Waters is a high-quality, innovation-driven business with a solid growth profile and some elements of disruption (informatics transition, bioseparations). However, it is not an emerging hypergrowth platform and does not exhibit the extreme optionality or 40%+ growth rates that would warrant a higher signal score. The business has a long but not unlimited runway and is more of a steady compounder than a high-velocity disruptor.
Williams (WMB) Q2 2025: Project Backlog Surges Past 2030, Driving 9% EBITDA CAGR
Williams is a large, well-followed incumbent with a long growth runway and strong backlog, but its business is not disruptive nor is growth truly exceptional for the sector. The article demonstrates clear growth, improving unit economics, and some self-reinforcing advantages, but the business is not a high-multiple, high-optional growth story. Signal is strong but not extraordinary given the maturity and visibility of the business.
L3Harris (LHX) Q2 2025: Book-to-Bill Hits 1.5, Backlog and Margin Expansion Signal Multi-Year Growth Path
While L3Harris is executing well and delivering strong growth signals (record backlog, margin expansion, transformation), it remains a large, established defense contractor with some runway but not the disruptive, uncapped profile of a true compounder. Backlog and book-to-bill are strong, but growth is in the mid-high single digits, not at the level of a hypergrowth business. The business model is improving and international expansion is a plus, but the story is more about operational leverage and portfolio realignment than radical business model disruption or 40%+ growth. Signal is solid but not extraordinary.
Teck Resources (TECK) Q2 2025: Copper Production Per Share Up 54% as CapEx Steps Higher for Growth
Teck has a long copper growth runway and is committing significant capital at high expected returns. Recent developments (HVC extension, QB ramp-up) are material, but not transformative enough for the highest scores. Unit economics and business model are improving but not yet at 'giant' or fully self-reinforcing levels. The business is growth-oriented, but not highly disruptive or set for >40% topline growth.
Profound Medical (PROF) Q2 2025: Gross Margin Jumps to 73% as Tulsa Pipeline Builds for Year-End Surge
Profound Medical shows evidence of a long reinvestment runway and a strong growth outlook, with management guiding for 70-75% revenue growth and a robust pipeline. However, unit economics and business model self-reinforcement are still emerging rather than fully proven, and recurring revenue is not yet dominant. The business is transitioning with promising catalysts but is not yet a clear compounding machine or disruptive leader in its space.
Venue (VENU) Q2 2025: Pipeline Expands to 38 Municipalities, Unlocking $150M–$300M Per Deal
Venue shows a long reinvestment runway and recent significant developments with its municipal pipeline and suite sales growth. Unit economics and self-reinforcing advantages are improving but not yet at the level of a compounding giant. The business model is evolving and disruptive within its niche but not category-defining. Revenue and profit growth are strong but not at hypergrowth levels. The company is transitioning toward growth, with some risks and execution dependencies remaining.
Liquidia (LQDA) Q1 2025: 48% G&A Surge Signals Full-Scale Launch Readiness for Utrepia
Liquidia has a significant market opportunity with Utrepia and is moving from R&D to commercial stage, but there is no clear evidence yet of improving unit economics, self-reinforcing business model, or exceptional future growth (>30% acceleration). The business is transitioning and growth-oriented, but not yet exceptional or disruptive at scale. The signal is good but not outstanding.
Acadia Realty Trust (AKR) Q3 2025: Street Retail NOI Surges 13%, Fueling 2026 Growth Inflection
Acadia is demonstrating strong growth metrics, a clear inflection in urban street retail, and robust pipeline visibility, but the business model is not highly disruptive and the reinvestment runway, while solid, is not exceptional. Growth is strong but not at the highest possible level, and some signals are more moderate given the company's REIT structure and market maturity.
ImmuneBio (INMB) Q3 2025: R&D Spend Down 52% as Cordstrom and XPro Advance Toward Regulatory Milestones
ImmuneBio is transitioning to a late-stage platform with regulatory catalysts and platform leverage, indicating a long potential runway. However, there is not yet evidence of exceptional growth (over 40%) or clear disruptive dominance, and unit economics/cash flow acceleration are not fully proven. The business is growth-oriented but faces regulatory and funding risks.
Theravance Biopharma (TBPH) Q1 2025: UPelri Hospital Volume Jumps 48%, Cypress Data Inflection Nears
Theravance is at a clinical inflection with a major data readout and strong hospital channel growth, but the business is not a category-defining compounder. Runway and disruption are moderate, not exceptional. There is significant growth potential if Cypress succeeds, but the business is not yet on track for giant-scale or 40%+ growth. The model is resilient with cash/royalties, but network effects and customer deepening are modest. Overall, signal is solid for a mid-cap biotech at a critical moment, but not extraordinary.
Arthur J. Gallagher (AJG) Q1 2025: Reinsurance Organic Growth Hits 20%, Fueling Margin Expansion and M&A Firepower
While Gallagher is a strong operator with a robust M&A pipeline and standout reinsurance growth, it is a well-known, mature business in a competitive sector. The 20% reinsurance growth is notable but unlikely to be sustained at this level, and the business model, while operationally excellent, is not truly disruptive with deep, compounding advantages. Margins are temporarily boosted by investment income, and future growth is solid but not exceptional. The business is investable and growing, but the signal is moderate for differentiated, outsized upside.
Immunovant (IMVT) Q4 2024: $1.3B Buyback and $5B Cash Set Stage for Multi-Blockbuster Pipeline
Immunovant demonstrates a long reinvestment runway with a large cash position and multiple late-stage pipeline shots. There are significant upcoming catalysts and a buyback, but the business model—while promising—is not yet a proven compounding machine (network effects, self-reinforcing economics are not fully evident). Unit economics are likely to improve with scale but remain unproven. Growth is strong but not yet at the 40%+ runaway level, and the business is still in transition to commercial stage. Signal is solid but not exceptional, as much depends on future clinical readouts.
Edwards Lifesciences (EW) Q2 2025: TMTT Sales Surge 57% as Portfolio Expansion Outpaces Market
Edwards Lifesciences shows strong growth in TMTT (57% YoY), raised guidance, and a robust innovation pipeline. However, the business is not entirely new or undiscovered, and while there is a clear growth engine and strong execution, the reinvestment runway is moderate due to near-term margin compression and the mature nature of the core TAVR business. Unit economics and cash flow are improving, but not at an exceptional or disruptive pace. The business is a solid growth story with some optionality, but not a breakout or highly disruptive opportunity.
NewtekOne (NEWT) Q3 2025: ALP Securitization Surges to $350M, Driving Non-Bank Lending Scale
NewtekOne is showing strong growth in ALP securitization and deposit gathering, with clear improvements in scale and operating leverage. However, while the business is growing and diversifying, it is not yet exhibiting the characteristics of a disruptive platform with a long, uncapped reinvestment runway or exceptional future guidance. The business is transitioning toward growth, but legacy risks and the absence of 40%+ growth or clear network effects temper the signal score.
Ingram Micro (INGM) Q3 2025: XVantage-Driven Non-US IDA Revenue Surges 100% as AI Ecosystem Expands
While there are strong signals of growth, AI-driven inflection, and operational leverage, Ingram Micro is still a large, established distributor with moderate reinvestment runway and some margin headwinds. The business is not highly disruptive or unknown, and while growth is accelerating in certain segments, the overall company profile is more mid-cycle than truly exceptional.
VIAVI (VIAV) Q1 2026: Data Center Revenue Surges to 40%, Redefining Segment Mix
The business shows strong growth in the data center segment and successful integration of a high-margin acquisition, signaling a positive inflection. However, the overall business is not exceptionally disruptive, and the reinvestment runway, while improved, is not extraordinary. Growth rates are solid but not hyper-growth, and some segments remain cyclical or in recovery. Signal is strong but not at the highest level for a fund manager seeking outsized, underappreciated upside.
SPXC Q3 2025: 32% EPS Growth Drives $1B+ Liquidity for Expansion and M&A
SPXC is showing strong growth, margin expansion, and a robust backlog, but its business model—while benefiting from secular trends and some new product disruption—is not fundamentally disruptive or network-driven. The reinvestment runway is good but not exceptional. Revenue and EPS growth are strong but not consistently >40%. The signal is solid for an industrial, but not at the level of a truly exceptional or disruptive growth story.
WEC (WEC) Q3 2025: Capex Plan Jumps $8.5B as Data Center Demand Lifts 2030 Growth Outlook
WEC is evolving from a mature utility to a higher-growth, data center-driven model, but the runway is not as long or disruptive as a true tech platform. There is a major growth inflection (question 2) and improving unit economics, but customer concentration and regulatory risk temper the signal. The business is transitioning, not yet fully a high-growth compounder.
Sphere Entertainment (SPHR) Q2 2025: Concert Count Rises 43%, Small-Scale Spheres Ready for Global Rollout
Sphere has a long reinvestment runway, clear growth in concert count, and a disruptive, capital-light franchise model. However, unit economics and customer value are only modestly improving, and the business is not yet showing exceptional acceleration or established cash flow dominance. MSG Networks remains a drag, and while the model is promising, it is still transitioning rather than proven as a high-growth giant.
Hasbro (HAS) Q2 2025: Magic the Gathering Drives 23% Segment Growth, Unlocking Franchise-Led Margin Expansion
Hasbro's transition to a franchise/digital model is promising, but the core business is well-known and not highly disruptive. Growth is strong in segments but not at a hypergrowth or 40%+ level. Some unit economics and margin signals are positive, but the business is not a high-upside, underappreciated compounder. The signal is solid but not exceptional for a fund manager seeking major valuation upside.
Fabrinet (FN) Q4 2025: DCI Revenue Hits $107M, Fueling Multi-Segment Growth Visibility
Fabrinet demonstrates strong growth, capacity expansion, and exposure to secular trends (cloud, AI, optical), but customer concentration and persistent supply constraints temper the long-term reinvestment runway and self-reinforcing business model. Unit economics are improving but not dramatically, and while the business is transitioning toward higher growth vectors, risks around execution and concentration limit its signal score.
CoStar Group (CSGP) Q2 2025: Net New Bookings Jump 65% as Sales Force Expansion Drives Record Growth
CoStar is a well-known, large-cap company with a strong growth profile, but not a truly exceptional or underfollowed signal. The business is growing and has some disruptive elements, but most levers and optionality are known to the market. Recent bookings acceleration and integration of Matterport are positive, but the business is not at the frontier of growth or uniqueness, and the reinvestment runway, while solid, is not extraordinary.
Royalty Pharma (RPRX) Q2 2025: Portfolio Receipts Up 20% as Synthetic Royalty Model Scales
Royalty Pharma demonstrates a long reinvestment runway and a self-reinforcing model, with clear margin improvement and capital allocation discipline. However, while growth is strong (20% portfolio receipts YoY), it does not reach the >40% threshold for a 2 on several growth-related questions. The business is not a hypergrowth story but is showing improving unit economics and a disruptive approach in its space. Customer value is modestly improving but not consistently deepening. The business is solidly growth-oriented and innovative, but not at the highest signal tier for explosive upside.
XYF Q2 2025: Loan Originations Surge 71%, Asset Quality Tightens Amid Strategic Shift
XYF is showing high growth and improving profitability, but the pivot to asset quality and moderated guidance cap the reinvestment runway. There are clear improvements in unit economics and delinquency rates, but the business is not deeply disruptive and faces regulatory headwinds. The growth is strong but not exceptional enough for a perfect signal score, and the long-term optionality is somewhat constrained by the regulatory environment.
SLM (SLM) Q2 2025: Federal Reforms Unlock $5B Private Loan Upside, Grad Segment Set to Double
SLM is positioned for a significant market expansion driven by federal reforms, with clear upside in origination volume and a mix shift toward higher-return graduate lending. However, while the policy change is a major tailwind, the business model and growth trajectory remain somewhat traditional and execution-dependent, with moderate evidence of disruptive dynamics or accelerating cash flow. The runway is long, but the path to outsized returns is not fully de-risked or exceptional.
Enlight (LASR) Q1 2025: Defense Revenue Jumps 50% as Directed Energy Pipeline Expands
Enlight is undergoing a significant business model shift with a strong defense ramp and margin expansion, but the business is not yet exceptionally high-growth or disruptive in a way that would merit a higher score. The pipeline is robust and backlog visibility is improving, but risks remain around customer concentration, tariff exposure, and commercial market weakness. The company is transitioning toward growth, but the signal is somewhat dampened by sector maturity and execution risk.
Supernus (SUPN) Q2 2025: Core Product Sales Jump 17% as Four Growth Drivers Reshape Portfolio
Supernus is clearly transitioning to a growth business with several high-growth products and a major acquisition, but its reinvestment runway and disruptive potential are moderate rather than exceptional. The business is not yet a giant, and while growth is strong, it is not at the highest tier. The company is not a household name or an undiscovered gem, so the signal, while good, is not extraordinary.
Tenable (TENB) Q3 2025: Tenable One Drives 40% of New Business as Exposure Management Accelerates
The business shows good growth, platform mix shift, and some disruptive elements, but it is not an undiscovered or hyper-growth opportunity. There is a solid reinvestment runway, but not at the highest tier. The signal is strong but not exceptional for a well-followed cybersecurity name.
JFrog (FROG) Q1 2025: Cloud Revenue Jumps 42% as Usage Outpaces Commitments
JFrog shows strong growth, especially in cloud, with overage-driven upside and multi-year commitments. However, the runway is not fully proven as exceptional, and management’s caution on durability and macro risks tempers the signal. The business is growth-oriented and platform-driven, but not yet a clear compounding giant or highly disruptive category leader.
ZKH (ZKH) Q1 2025: Private Label GMV Jumps 40% as Margins and Global Expansion Accelerate
While ZKH is showing strong margin expansion and private label growth, the overall business is not yet a clear high-growth compounding story. Reinvestment runway is moderate, with some disruptive elements, but not fully self-reinforcing or exceptional. Growth is solid but not at a breakout level, and while the shift in mix and AI investments are positive, the business is still transitioning with some legacy drag. Signal is good but not at the highest level for transformative upside.
XYF (XYF) Q1 2025: Loan Originations Surge 63%, Risk Controls Tighten Amid Regulatory Transition
XYF demonstrates strong recent growth (63% origination surge), improving profitability, and operational discipline, but its reinvestment runway is moderate given regulatory uncertainty and sector maturity. There are clear improvements in unit economics and profitability, but network effects and customer value deepening are present but not exceptional. The business is not a true disruptor nor a household name, and while growth is strong, it is not at the level of a breakout platform. The business is transitioning to regulatory adaptation with some growth optionality, but not a high-signal, undiscovered compounder.
Xenon Pharmaceuticals (XENE) Q1 2025: $691M Cash War Chest Extends Runway as Phase 3 Epilepsy Readout Nears
Xenon has a long reinvestment runway and is approaching a major inflection with late-stage assets, backed by a strong cash position. There is evidence of pipeline breadth and operational discipline, and the business is transitioning to a growth stage. However, unit economics and self-reinforcing model characteristics are present but not yet exceptional, and growth acceleration is promising but not yet proven at the highest levels. The signal is strong but not at the maximum due to some pipeline and execution risk.
Rambus (RMBS) Q2 2025: DDR5 Chip Revenue Jumps 43%, Powering Record Cash Flow and Market Share Gains
Rambus demonstrates strong growth and leadership in DDR5, with robust cash generation and new product momentum, but does not clearly meet the highest bar for reinvestment runway, self-reinforcing model, or customer value compounding. The business is positioned for double-digit growth and benefits from secular AI/data center tailwinds, but the signal is somewhat capped by its established position and less disruptive model relative to the highest-potential growth tech names.
Sanmina (SANM) Q3 2025: DPS Margins Surge 320bps as ZT Systems Acquisition Targets $6B Revenue Run Rate
Sanmina is not a hyper-growth or highly disruptive business, but the ZT Systems deal is a material step-change, with revenue set to double, margins expanding, and strong cash generation. However, the core business is relatively mature and the reinvestment runway, while extended by the acquisition, is not truly long-term or high-ROIC by tech standards. Unit economics and backlog are improving, but not at a transformative pace. The signal is solid for a mid-cap industrial/tech name but not exceptional.
GDS (GDS) Q2 2025: CREIT IPO Drives Asset Monetization at 16.9x EBITDA, Unlocking Capital Flexibility
GDS demonstrates a long reinvestment runway and has achieved a major monetization milestone, but some metrics (unit economics, business model compounding, customer value deepening) are improving only modestly or are pressured by contract resets. The business is clearly in growth mode with international expansion and AI optionality, but near-term growth is gated by external uncertainties (chip supply, MSR pressure). The signal is strong but not at the highest level due to these headwinds and the fact that GDS is already well-followed in the sector.
Weave (WEAV) Q1 2025: Trulark Acquisition Expands TAM by $2.9B, Accelerates AI-Driven Automation
Weave demonstrates strong growth potential with the Trulark acquisition and AI automation focus, but the business is not yet a clear compounder with a massive reinvestment runway. There is evidence of high growth and TAM expansion, but payments and specialty medical are still underpenetrated. Unit economics are improving but not rapidly compounding. The business model is disruptive and moving toward self-reinforcement, but network effects and customer value deepening are still emerging. The outlook is positive, but the business is not yet a high-growth giant, and execution risk remains.
NRXP Q2 2025: Operating Loss Down 47% as Regulatory Milestones Unlock Ketamine Market Upside
NRXP presents a potentially disruptive model in a high-need market and is at a binary inflection, but lacks a proven long reinvestment runway and has not yet demonstrated consistently improving unit economics or customer value deepening—these remain contingent on regulatory and commercial execution. Growth potential is high if catalysts hit, but risk is substantial and the business is not yet compounding at scale.
VSE (VSEC) Q1 2025: Aviation Revenue Jumps 58% as Fleet Exit Unlocks Pure-Play Focus
VSE is transitioning into a focused aviation aftermarket platform with strong revenue growth and margin improvement, but it is not a highly disruptive or widely underfollowed business. The reinvestment runway is moderate, the business model is improving but not fully self-reinforcing, and while growth is robust, it is not at the extreme upper end. The signal is solid but not exceptional for a fund manager seeking outlier alpha.
Baldwin Group (BWIN) Q3 2025: Embedded Platform Drives 16% UCTS Growth, Backlog Hits Record High
Baldwin Group is showing strong embedded platform growth, record backlog, and a credible transformation initiative, supporting a growth thesis. However, while there is clear evidence of a growth inflection, some signals (unit economics, self-reinforcement, customer value deepening, disruptive model, and cash flow acceleration) are present but not yet exceptional or fully proven. The business is transitioning but not at the highest level of signal for a truly exceptional, disruptive growth story.
YSG Q2 2025: Skincare Revenue Jumps 79% as R&D-Led Brands Outpace Market
While the business is transitioning impressively, it is not a truly exceptional, disruptive, or unknown growth story. There is clear margin and cash flow improvement, a strong quarter, and a growth pivot, but the reinvestment runway and defensibility are only moderate. The business is not a giant or dominant platform, and competitive risks remain.
CommScope (COMM) Q1 2025: Data Center Segment Soars 88%, Fueling Margin Expansion and Rebound Narrative
While the business is experiencing a strong inflection driven by AI/data center demand and clear margin expansion, it remains a known player in a competitive sector. The reinvestment runway is moderate due to leverage and capital constraints. The growth is significant but not at a hyper-growth or disruptive level, and some risks (leverage, cash flow) temper the upside. Still, there are clear signals of improving economics and a strategic pivot.
Rumble (RUM) Q1 2025: Brand Advertiser Wins and 87% User Retention Signal Monetization Inflection
Rumble shows signs of inflection with major brand advertiser wins, improved user retention, and broadening monetization. However, the runway for reinvestment, business model defensibility, and customer value deepening are promising but not yet exceptional or proven at scale. The business is in transition to diversified growth, but risks and uncertainties remain, limiting the signal score.
Sunland (STG) Q2 2025: Interest-Based Courses Power 15% Growth as Silver Economy Takes Center Stage
Sunland shows strong margin and cash flow inflection, high engagement metrics, and a clear transition to recurring, higher-margin revenue. However, the business is not entirely disruptive, growth is solid but not hyperbolic, and the reinvestment runway—while present—is not exceptional. The company is not a household name, but the signal is somewhat capped by the lack of explosive growth or a truly unique model.
HCI (HCI) Q1 2025: Exeo Spinoff Targets $150B Market After 17% Premium Growth
HCI is executing a potentially value-unlocking spinoff of Exeo, targeting a large addressable market. There are clear signs of profitability improvement and capital strength, but the business is not a hypergrowth or highly disruptive story, and some elements (unit economics, business model compounding, customer value deepening) are only moderately improving or not yet proven at scale. The opportunity is solid but not exceptional from a signal perspective.
YRD Q2 2025: Financial Services Revenue Jumps 75% as AI Drives Repeat Borrowing and Margin Expansion
The article highlights strong recent growth (75% YoY in core segment, 57% loan volume, 103% sequential in digital insurance), margin expansion, and AI-driven operational leverage. However, the business is exposed to significant regulatory headwinds and insurance compression, and while there is a long runway in overseas and digital insurance, these segments are still early-stage. The core lending business shows improving economics and repeat borrowing, but the overall business is not yet in the highest-growth or most disruptive category, and future growth is subject to regulatory and execution risks. Signal is above average but not exceptional given these constraints.
Ibotta (IBTA) Q2 2025: Third-Party Publisher Redemption Revenue Jumps 38% as Performance Marketing Model Gains Traction
Ibotta is at a critical inflection, with third-party publisher revenue and redeemer growth showing strong momentum (Q2 up 38%, major integrations), and early CPID pilots demonstrating high incremental sales. However, automation is not yet fully in place, and margin compression/operational complexity remain. The business is not yet a clear cash flow machine, and while the model is disruptive, it is not yet self-reinforcing at scale. Growth is strong but not hyper-scaling (>40%), and customer value is improving but not consistently deepening. The business is transitioning, not fully mature or legacy.
NAPCO Security (NSSC) Q4 2025: Recurring Revenue Run Rate Jumps $5M as Margin Resilience Outpaces Tariff Drag
NSSC shows strong recurring revenue growth, high margins, and a clear transition to a service-led model, but the overall business is not extremely high-growth or disruptive. While the recurring revenue jump and cloud platform rollout are positive, the company operates in a mature segment with moderate growth prospects. Unit economics and customer value are improving, but not at a breakout pace. The business is solid and resilient, but not likely to deliver outsized upside typical of the highest-signal opportunities.
Twilio (TWLO) Q3 2025: Voice AI Startup Revenue Jumps 60%, Signaling Early Platform Leverage
Twilio shows solid growth and early signs of high-margin product adoption, but the business is not yet at a breakout inflection. The runway is promising but not clearly exceptional, and while some metrics are accelerating, the overall signal is moderate due to ongoing margin headwinds and the nascent contribution of new products.
Seagate (STX) Q3 2025: Mass Capacity Drives Fuel 48% Segment Growth as Hammer Ramps
Seagate demonstrates strong growth in mass capacity and Hammer adoption, with clear inflection in exabyte shipments and margin expansion. However, the business is not highly disruptive or unique, and customer concentration, industry maturity, and limited evidence of 20%+ long-term reinvestment runway constrain the signal score. Growth is robust but not exceptional at the business model level.
Grid Dynamics (GDYN) Q1 2025: Finance Vertical Jumps 144% as AI and Banking Deals Accelerate
Grid Dynamics is showing strong growth in a key vertical (finance up 144%), clear AI adoption, and a ramp in large deals. However, the business model is not highly disruptive, and while growth is strong, the reinvestment runway and self-reinforcing advantages are moderate rather than exceptional. The company is transitioning to a higher-value mix, but the upside is not at the level of a truly exceptional, category-defining business.
Kura Oncology (KURA) Q1 2025: Cash Position Rises to $703M, Pipeline Momentum Sets Up Multi-Asset Inflection
Kura presents a solid case for a multi-asset, late-stage oncology platform with a long reinvestment runway, major regulatory milestone, and a strong cash position. However, while the NDA and pipeline expansion are significant, there is not yet clear evidence of accelerating unit economics, compounding model advantages, or consistently deepening customer value. The business is transitioning to growth, but not yet at a scale or trajectory that would warrant a higher signal score. The model is semi-disruptive, with moderate but not exceptional future growth visibility.
Redwood Trust (ROG) Q3 2025: Sequoia Loan Locks Surge 53% as Legacy Wind-Down Accelerates
Redwood Trust is showing strong momentum with record origination volumes, improved ROEs, and legacy asset runoff fueling redeployment. However, the business is not highly disruptive, and while growth is robust, it is not at the highest possible levels for all signal questions. The company is transitioning rapidly to a higher-return model but is not yet a clear outlier in terms of reinvestment runway or disruption. Signal is solid but not exceptional.
Commvault (CVLT) Q1 2026: SaaS ARR Jumps 63% as Platform Consolidation Accelerates
Commvault is executing well on a SaaS transition with strong ARR growth, cross-sell, and product expansion, but it operates in a competitive, maturing segment with no truly unique platform moat or 20%+ ROIC reinvestment runway. Growth is strong, but not at a transformative level for a midcap. The business is not a new disruptor, but is showing solid, above-average momentum in its niche.
Ventas (VTR) Q3 2025: SHOP NOI Jumps 16% as Senior Housing Tailwind Accelerates
Ventas is showing strong growth and a clear strategic pivot, but as a large, well-followed REIT, the upside is not as explosive or underappreciated as smaller, less mature businesses. The business model is improving with operational leverage and secular tailwinds, but the reinvestment runway, while solid, is not exceptional. Growth is robust but not at the hypergrowth or deeply disruptive level.
NOAH (NOAH) Q2 2025: Investment Product Revenue Soars 92% as Offshore Wealth Mix Accelerates
NOAH is showing strong growth in new product lines and geographies, with some disruptive elements (digital assets, global expansion). However, the business is not in a category-defining or truly exceptional phase—runway and self-reinforcement are present but not at the highest level. Revenue and EPS growth are solid but not above 40%, and the business, while evolving, is not yet a giant. Signal is good but not outstanding.
Domo (DOMO) Q2 2026: Consumption ARR Hits 75%, Unlocking AI and Partner-Led Expansion
Domo is showing a strong inflection with its consumption model, improved ACV growth, and operational leverage. However, the reinvestment runway is not clearly 'long' with 20%+ ROIC, and while growth is strong, it is not at the level of a truly exceptional, massive, or highly disruptive business. The signals are positive and above average, but not at the highest tier for transformative growth or disruption.
Taseko Mines (TGB) Q2 2025: Florence Project 90% Complete as Copper Tariff Tailwind Builds
Taseko Mines demonstrates clear growth signals: Florence is a near-term catalyst and US tariffs create a strategic tailwind. The reinvestment runway is strong, and the business is transitioning to growth. However, underlying unit economics and self-reinforcing business model signals are moderate rather than exceptional, and the business is not yet at the inflection point of a high-growth, highly disruptive model. Revenue and EPS growth are likely to be solid but not explosive, and while the business is moving out of a legacy phase, risks around execution and ramp-up temper the signal score.
DXP Enterprises (DXPE) Q2 2025: IPS Sales Jump 27.5%, Backlog Signals Multi-Quarter Growth Runway
IPS growth, backlog strength, and acquisition-driven margin expansion are positive, but the business is not highly disruptive or unique, and the reinvestment runway is moderate (not exceptional). While there is strong recent growth and margin accretion, the business is not showing 40%+ revenue/earnings growth or a truly exceptional forward profile. Unit economics and customer value are improving, but not at the level of a high-multiple compounder. This is a solid growth story, but not an extraordinary one.
Lucky Strike (LUCK) Q4 2025: Water Parks Acquisition Adds 1.5M Guests, Ignites Diversification Strategy
LUCK demonstrates a long reinvestment runway and is clearly in a transformative growth phase, with significant recent developments (large acquisitions, guest growth). Some signal is capped by the business being less disruptive and the growth profile, while strong, is not extreme. Unit economics are improving but not at the level of a giant, and some self-reinforcing dynamics are present but not dominant. The business is transitioning to a growth model, but not yet at the highest signal tier.
Dell (DELL) Q2 2026: AI Server Backlog Swells to $11.7B, Powering Upgraded $20B Shipment Target
Dell is a large, well-followed business, so signal is capped despite strong numbers. The AI server backlog and shipment growth are highly material, but the business is not fundamentally disruptive or showing >40% growth across the board. Unit economics are improving in AI, but margin dilution and traditional segments remain a drag. The business is in a strong growth phase, but with risks around mix, margin, and end-market volatility.
Catapult (KPLT) Q2 2025: App-Originated Leases Jump 81%, Marketplace Flywheel Accelerates
Catapult is showing strong growth and platform traction, with double-digit top-line increases, app-originated lease surges, and expanding merchant channels. However, the reinvestment runway is moderate, not exceptional, and while there is business model evolution, it's not fully disruptive. Unit economics and customer value are improving, but not at a 'giant' scale yet. The business is transitioning toward growth, but not at a hypergrowth or highly disruptive inflection.
Freshworks (FRSH) Q2 2025: AI ARR Doubles to $20M as Attach Rates Top 55% in Large Deals
Freshworks demonstrates strong growth, improving unit economics, and an emerging AI monetization lever, but the business is not so exceptional or disruptive as to warrant the highest possible scores. While AI ARR is doubling and attach rates are high, the overall growth rates (14-15% guided for the year) are solid but not hypergrowth. The company has a long runway, but is somewhat known and lacks the extreme optionality or disruptive model that would drive a higher signal score.
Gen Restaurant Group (GENK) Q2 2025: Store Count Jumps 50%, Expansion Model Faces Tariff Uncertainty
GENK demonstrates a long reinvestment runway and high ROI on new units, with a 50% increase in store count and robust cash generation. However, comps remain slightly negative, unit economics are pressured by traffic declines, and core business model disruption risk is rising due to tariffs and macro softness. The business is growing and has some disruptive elements, but risks and execution challenges temper the overall signal.
Naviant (NAVI) Q2 2025: Refi Originations Double as Grad Plus Reform Unlocks Multi-Year Growth Runway
Naviant is positioned for a structural growth runway due to the Grad Plus elimination, with clear evidence of market expansion, but the business is not disruptive in the tech sense and unit economics are improving but not yet exceptional. The business is transitioning to growth, but not at a hypergrowth pace and with some credit/funding risks still present. The signal is strong, but not at the highest possible level for a truly exceptional, disruptive compounder.
Roku (ROKU) Q3 2025: Platform Revenue Growth Tops 20% Ex-606, DSP Tailwinds Set Up 2026 Leverage
Roku demonstrates a long reinvestment runway, recent significant growth, and a business model transitioning toward higher-margin recurring revenues. However, while the growth is strong, it is not at the highest tier of acceleration, and some aspects (network effects, disruptive model, cash flow acceleration) are present but not dominant. There is clear growth and optionality, but the business is already well-followed and the upside, while notable, is not extraordinary or unique versus peers.
TKO (TKO) Q2 2025: WWE Revenue Jumps 22% as Multi-Platform Rights Strategy Drives Margin Expansion
TKO is a high-quality, maturing sports entertainment platform with strong margin expansion, improving unit economics, and some disruptive elements (multi-platform rights, partnership monetization). However, it is not a new or undiscovered business, and growth rates, while solid, are not exceptional. The business is not likely to deliver 40%+ growth or a massive inflection, but does have moderate reinvestment opportunity and strong cash generation.
DTM (DTM) Q3 2025: Guardian Pipeline Capacity Expands 40% as LNG and Data Center Demand Accelerate
DTM is showing strong growth and a generational demand tailwind, with a major pipeline expansion and record volumes, but as a midstream pipeline operator, its reinvestment runway is moderate, not exceptional. The business is not fundamentally disruptive, though it has some optionality in CCS and clean fuels. Unit economics and backlog conversion are improving, but the business model is not self-reinforcing to the degree of a network platform. The growth profile is strong but not hyper-growth (>40%), and risks around regulatory and competitive dynamics limit upside. Overall, the signal is above average but not at the highest level for a fund manager seeking outsized valuation upside.
Shenandoah Telecommunications (SHEN) Q1 2025: Glow Fiber Revenue Jumps 52% as Expansion Drives Margin Upside
SHEN is transitioning to a cash-generative fiber business with high incremental margins and accelerating growth in key segments, but the overall business is not disruptive at a sector level and faces some legacy headwinds. The reinvestment runway is solid but not exceptional, and while growth is strong, it is not at the level of a breakout compounder.
Descartes Systems (DSGX) Q2 2026: Tariff-Driven GTI Surge Lifts Services Revenue 14%
Descartes is a well-run, network-driven software business with some growth levers, but its maturity and recurring revenue model cap the reinvestment runway. There is strong network effect and customer stickiness, but not a disruptive, hyper-growth model. Growth is solid but not exceptional; the business is resilient and well-positioned, but not likely to deliver explosive upside. The signal is above average, driven by network effects, margin discipline, and M&A, but not at the highest tier for upside.
Trevi Therapeutics (TRVI) Q1 2025: 57% Placebo-Adjusted Cough Reduction Drives Pipeline Inflection
Trevi is a high-risk, high-reward late-stage biotech with meaningful upcoming catalysts. The business has disruptive potential if pivotal data is positive, but is still binary and pre-commercial. There is clear optionality and a possible inflection, but the business is not yet proven to have a long reinvestment runway, improving unit economics, or deepening customer value. The score reflects strong near-term signal but not yet a proven compounding model.
UXIN Q1 2026: Retail Volume Surges 142% as Wuhan Superstore Accelerates Market Penetration
The article demonstrates strong short-term growth (142% YoY retail volume), margin stability, and signs of operating leverage, but the business is not yet clearly disruptive or compounding with deep moats. NEV penetration and rapid new store ramp are positive, but the company is still in transition with moderate cash flow improvement and some risk from sector volatility. The business is growth-oriented but not yet a clear outlier in long-term reinvestment or network effects.
Extreme Networks (EXTR) Q3 2025: Product Revenue Jumps 67% as Fabric and Platform 1 Expand Enterprise Wins
Extreme Networks is showing strong product revenue growth, SaaS ARR expansion, and clear upmarket momentum, but recurring revenue as a share of total is stable and the business, while gaining share, is not a new or undiscovered compounder. The reinvestment runway is good but not exceptional, and while there are disruptive elements (AI/networking, fabric), the overall business model is not as uniquely self-reinforcing or high-growth as top-tier tech disruptors. Guidance is positive but not at breakout levels for the sector. Signal is solid, but not elite.
Pegasystems (PEGA) Q1 2025: Pega Cloud ACV Jumps 23% as GenAI Blueprint Drives Broad-Based Growth
PEGA demonstrates strong growth in cloud ACV and a successful transition to a recurring revenue model, but it is not an undiscovered or underappreciated business. While Blueprint adoption and backlog growth are notable, the business model is not fully disruptive and network effects or deepening customer value are present but not exceptional. Growth is robust but not at the extreme levels required for the highest scores. The business is clearly in a growth phase, but the reinvestment runway and disruptive potential are moderate rather than extraordinary.
Mirion (MIR) Q2 2025: Nuclear Power Growth Raised to Double Digits, SMR Orders Accelerate
Mirion is benefiting from secular nuclear power tailwinds and SMR engagement, with raised guidance and a clear inflection toward higher growth. However, while the business model is improving and digital/recurring elements are emerging, the company is not yet demonstrating the kind of disruptive, self-reinforcing economics or runaway growth that would merit top scores. Growth is solid and accelerating, but not at the highest levels, and risks around order timing and government budgets temper the signal.
Cresud (CRESY) Q4 2025: Crop Volumes Jump 17% as Argentina Tax Cuts Unlock Margin Upside
Cresud shows strong reinvestment runway and is benefiting from structural reforms, with a clear growth inflection in crop volumes and margin reset. However, while growth is robust, it is not yet at a transformative level (e.g., >40% topline/EPS acceleration). Unit economics are improving but not dramatically, and while the business is transitioning to higher margins, it is not an undisputed high-growth disruptor. The model is semi-disruptive, not a tech platform, and cash flow is improving but not yet rapidly accelerating.
Lincoln Educational Services (LINC) Q2 2025: Student Starts Surge 22%, Accelerating Campus Expansion Playbook
Lincoln is a growth business in a structurally favorable niche, with recent step-change in student starts and evidence of improving unit economics. However, the business model is not deeply disruptive, reinvestment runway is solid but not extraordinary, and some growth levers (like healthcare) are still unproven. The signal is strong but not exceptional or unique enough for a top decile score.
Zillow (Z) Q3 2025: Rentals Revenue Jumps 41% as Multifamily Listings Hit 69,000
Zillow is showing strong growth in rentals and multifamily, with some disruptive elements and improving customer value. However, it is a well-followed business and much of the upside is already known to the market. While the business is growing and executing well, the overall signal is somewhat muted by its maturity and competitive landscape.
Cheetah Mobile (CMCM) Q2 2025: AI and Robotics Revenue Jumps 86% as Subscription Model Anchors Turnaround
The business is showing strong growth in new segments (AI/robotics), with an 86% YoY surge and clear margin improvement. However, the reinvestment runway and defensibility, while promising, are not yet at the highest level. Growth is strong but not yet exceptional across all metrics, and the business is in transition rather than fully disruptive. There is clear momentum, but some elements remain in the proof phase.
Coru Medical Systems (KRMD) Q2 2025: International Revenue Jumps 34% on Prefilled Syringe Expansion
Coru Medical is showing strong international growth and pipeline expansion, suggesting a solid reinvestment runway and a business in transition toward higher growth. However, margin pressure and reliance on pharma partners moderate the signal. While some aspects are disruptive and growth-oriented, the business is not yet at the level of a clear high-growth giant, and some self-reinforcing model elements are still emerging.
Mammoth Energy (TUSK) Q2 2025: Rental Services Revenue Jumps 72% as Portfolio Pivot Accelerates
Mammoth Energy is undergoing a significant business model transformation, with clear reinvestment runway (rental and aviation at high IRRs), strong recent growth in rental services, and a disruptive pivot toward capital-light, recurring revenue segments. However, unit economics and customer value improvements are evident but not yet exceptional. The business model has some self-reinforcing elements, but the legacy legal overhang and execution risk temper the signal. While growth prospects are solid, the overall signal is somewhat constrained by profitability headwinds and the company’s transitional status.
Everest Construction Group (ECG) Q1 2025: Backlog Surges 41%, Secular Demand Drives E&M Growth
While backlog growth is exceptional and recent developments are material, the business is not highly disruptive and does not demonstrate network effects or self-reinforcing advantages beyond operational execution and customer relationships. Unit economics are improving, but the business is not on track to be a giant. The company is a solid growth story in a traditional sector, but lacks the disruptive, compounding characteristics that would warrant a higher signal score.
MPWR Q3 2025: Enterprise Data Layering Drives 18.9% Growth, Solution Shift Advances
MPWR demonstrates a long reinvestment runway with clear avenues for high returns, and the enterprise data segment is showing strong momentum. There is a significant development in growth, but not at a 'very high growth' level yet. Unit economics and self-reinforcing elements are emerging but not fully compounding. Customer value is improving, but not dramatically. The business model is transitioning and semi-disruptive. Cash flow and revenue growth are solid but not explosive, and the company is a clear growth business, but not an outlier in terms of signal or upside surprise.
SBC (SBC) Q2 2025: Clinic Count Up 36 as Strategic Restructuring Sets Stage for Margin Recovery
SBC shows a long reinvestment runway and is expanding rapidly with a clear multi-brand strategy, but the business is in a transitional phase and not yet at breakout growth. Some elements (unit economics, self-reinforcing model, customer value) are improving but not yet exceptional or proven at scale. Growth is accelerating post-restructuring, but visibility on 40%+ growth and disruptive dominance is still emerging rather than fully evident.
Lemonade (LMND) Q1 2025: Car Outpaces 40% of Book, Cross-Sell Jumps 100% as AI Drives Cost Leverage
Lemonade demonstrates strong growth in the car segment, cross-sell, and cost leverage, but the overall business is not yet at scale and remains unproven in terms of sustained high returns on capital. Unit economics are improving but not yet at giant scale, and while the model is disruptive, retention and profitability are still maturing. Signal is solid, but not exceptional given the company's execution risk and competitive market.
SkyWater (SKYT) Q2 2025: FAB25 Acquisition Adds $75M Quarterly Revenue, Reshaping U.S. Foundry Scale
SkyWater’s acquisition of FAB25 creates a step-change in scale and revenue, with clear long-term growth vectors (quantum, advanced packaging, defense onshoring). However, near-term margin compression, integration risk, and reliance on a single anchor customer limit the signal. While the business is transitioning to a higher-growth profile, unit economics and self-reinforcing advantages are not yet proven at scale. The signal is strong for a U.S. foundry play, but not at the level of a disruptive, high-velocity compounder.
Check Point (CHKP) Q2 2025: Quantum Force Firewall Growth Hits 12% as SASE, Email, and AI Drive Platform Transition
Check Point is not a new or undiscovered business, and while the platform transition and SASE/email growth are notable, the overall growth profile is moderate for the sector. There is evidence of accelerating segments (SASE/email >40%), but the core business is still transitioning, with subscription headwinds and only modest revenue growth. Some self-reinforcing aspects are emerging, but the business is not yet a compounding flywheel. The company is a growth business, but not an exceptional outlier in terms of reinvestment runway or disruptive potential relative to sector leaders.
Julong (JLHL) Q1 2025: Engineering Solutions Jump 13.4%, Margin Expansion Signals Quality Growth Shift
Julong is transitioning toward a higher-margin, more defensible business model with clear improvements in margin, contract quality, and backlog. While growth is strong and the business is moving in a positive direction, the company is not yet demonstrating the kind of runaway, disruptive growth or compounding business model that would warrant top scores. The reinvestment runway is promising but not definitively long or high-ROIC yet. There are signs of improving unit economics and some disruptive elements, but the business remains in a transitional phase rather than being a clear, high-growth outlier.
Materion (MTRN) Q2 2025: Defense Bookings Jump 30% as Margin Expansion Accelerates
Materion shows moderate reinvestment runway and improving unit economics, with a clear growth pivot in defense and energy. The 30% defense bookings uptick and margin expansion are notable, but the business is not highly disruptive or likely to deliver 40%+ growth. Self-reinforcing effects and customer value deepening are present but not dominant. Signal is strong for a specialty materials business, but not exceptional versus top-tier growth companies.
Newmark (NMRK) Q2 2025: Capital Markets Revenue Jumps 38%, Unlocking Global Platform Leverage
Newmark is showing strong growth and a clear pivot to recurring revenue, with double-digit revenue and EPS growth, outperformance in capital markets, and a robust M&A pipeline. However, the business is not a truly disruptive model and still faces execution and integration risks. The reinvestment runway is moderate (not exceptional), and while growth is strong, it is not at the highest, most exceptional levels. The business is transitioning toward a more stable, diversified model but is not a category-defining compounder.
Digital Turbine (APPS) Q1 2026: On-Device Revenue Jumps 18% as Device Volumes Rebound
While the company is showing a strong operational turnaround and near-term growth inflection, the reinvestment runway and business model optionality are not fully proven to be exceptional or disruptive at scale. There are clear improvements in unit economics, cash flow, and brand diversification, but the business is not yet exhibiting the characteristics of a giant platform with compounding network effects or 40%+ growth. Risks around AGP recovery, regulatory execution, and debt remain.
Neurocrine Biosciences (NBIX) Q2 2025: Krenesiti Revenue Triples, Diversifying Growth Beyond Ingresa
While Krenesiti’s rapid growth and pipeline breadth are notable, Neurocrine is not a new or overlooked story. The reinvestment runway is solid but not exceptional, and business model advantages are present but not dominant. Double-digit growth and diversification are positive, but pricing headwinds and IRA risks temper the upside. Signal is good, but not at the level of a truly exceptional, underappreciated growth story.
GCT Semiconductor (GCTS) Q2 2025: 5G Chipset ASP Set to Quadruple Legacy Levels as Production Ramps
GCT is at a major inflection point with the 5G ramp, offering a long reinvestment runway and significant ASP uplift. However, while the business model is evolving and TAM is expanding, the self-reinforcing dynamics, customer value deepening, and cash flow acceleration are not yet fully proven or exceptional. The business is transitioning to growth, but execution and commercial traction remain key uncertainties.
Cameco (CCJ) Q2 2025: Westinghouse Revenue Jumps $170M on Czech Reactor Win, Unlocking Upside
Cameco's Westinghouse segment shows clear growth optionality and upside, with a long reinvestment runway and potential for high returns on capital. However, while the business is strategic and benefits from secular tailwinds, some areas (such as unit economics and business model self-reinforcement) are improving but not yet at the level of a compounding giant. The business is clearly growth-oriented, but not disruptive or accelerating at a rate that would merit top scores across all signal dimensions.
Crane NXT (CXT) Q2 2025: Authentication Margin Target Raised to 20% as Integration Accelerates
Crane NXT demonstrates a solid reinvestment runway, margin acceleration, and backlog growth, but the business is not in hypergrowth and some segments (CPI) are mature or pressured. The model is semi-disruptive with moderate cash flow acceleration and revenue growth in the 20% range, but not exceptional or highly unique. Signal is above average but not at the highest tier.
DoubleVerify (DV) Q2 2025: ABS Activation Jumps 23%, Accelerating Platform Upsell Momentum
DoubleVerify is a strong growth business with deepening customer value, clear self-reinforcing model, and expanding premium solution adoption. However, the growth rate is not exceptional (sub-20% guidance), and while the business is well-positioned, it is not highly disruptive or on the verge of explosive acceleration. The reinvestment runway is solid but not extraordinary, and recent developments are positive but not game-changing.
CODA (CODA) Q3 2025: NanoGen Sonar Launch Drives 30.7% Marine Tech Revenue Growth
CODA is showing a strong pivot to defense with a long runway, major new product launches, and a recurring revenue model under development. However, margin compression, execution risks, and the business's relative scale and volatility temper the signal. The business is not yet at the level of a dominant, compounding platform, but the inflection is clear and actionable.
UroGen Pharma (URGN) Q1 2025: UGN-102 Eyes $5B Market as ODAC Review Nears
UroGen is at a major inflection with a potentially transformative product (UGN-102) targeting a large market. However, while the growth potential is significant, the business model's self-reinforcing characteristics and unit economics are not yet proven at scale, and execution risk is high. The signal is strong for a pivotal biotech, but not yet at the level of a proven compounding growth machine.
Gold Royalty (GROY) Q1 2025: Operating Cash Flow Surges 180% as Portfolio Ramp Accelerates
The business is showing inflection in cash flow and has a multi-year growth outlook, but it is not highly disruptive or unique in the royalty space. The reinvestment runway is moderate, with some embedded optionality but also competitive headwinds. There is a significant uptick in cash flow, but the underlying business model is established and faces competition. Growth is solid but not exceptional or highly disruptive, and while the company is transitioning to higher cash flow, it is not likely to achieve the highest tier of growth or optionality.
ADC Therapeutics (ADCT) Q1 2025: Lotus 7 Response Rate Hits 95.5%, Accelerating Compendia Path
The company demonstrates a disruptive, high-efficacy combination (Lotus 7) with potential for rapid growth and commercial acceleration if durability is confirmed and compendia inclusion is achieved. However, the reinvestment runway is moderate given the focus on a single commercial asset, and while the efficacy signal is exceptional, durability and scale remain to be proven. Unit economics and customer value are improving, but not yet at a giant scale. The business is transitioning toward growth but not yet in the hypergrowth category, and revenue/earnings growth is not yet at 40%+ levels.
Standex (SXI) Q1 2026: Fast-Growth Market Sales Up 45%, Grid and New Products Redefine Trajectory
Standex is showing strong growth in fast-growth markets (grid, electrification), a record order book, and raised outlook, supporting a growth narrative. However, organic growth is still modest, and much of the top-line expansion is acquisition-driven. Unit economics and business model self-reinforcement are improving but not yet at the level of a compounding giant. The business is transitioning toward higher growth, but margin and portfolio risks temper the signal.
PACB Q2 2025: Vega Adds 40+ New Labs, Driving 53% APAC Growth and Expanding Clinical Adoption
PACB demonstrates a strong reinvestment runway and recent material growth (notably APAC up 53%). However, some elements—like unit economics, self-reinforcement, and customer value—are improving but not yet at the highest compounding level. The business model is innovative but not fully disruptive, and while growth is robust, it's not at the highest acceleration tier. Risks and macro headwinds temper the signal.
Fuel Tech (FTEK) Q2 2025: Data Center Pipeline Surges to $100M as AI Demand Reshapes Order Book
Fuel Tech has a potentially long runway if the data center pipeline converts, but much is still at the 'bid' stage, so signal is capped. There is a significant opportunity but not yet a proven inflection in financials or backlog conversion. Unit economics and self-reinforcing model are not yet proven at scale. Growth is possible but not yet exceptional, and the business is still transitioning.
Sonotech (SOTK) Q2 2026: Medical Device Revenue Jumps 150% as Diversification Offsets Clean Energy Slowdown
Sonotech is showing strong segment growth and a clear business pivot, with medical device revenue up 150% YoY and operational leverage improving. However, the overall business is still relatively small and not at the scale or disruption level of a true compounding giant. The reinvestment runway is moderate rather than exceptional; backlog is strong but near-term growth is only modest. The business model is becoming more self-reinforcing but is not yet deeply entrenched. Revenue growth is not at the hypergrowth threshold (>40%), and while the pivot is promising, the company is not yet a must-own for most institutional investors.
Arrowhead Pharmaceuticals (TAK) Q2 2025: Sarepta Deal Delivers Cash Infusion as Plozasiran Nears Commercial Launch
Arrowhead is at a meaningful inflection, securing a long runway and moving to commercialization, but the business is not yet demonstrating giant-scale network effects, self-reinforcing economics, or 40%+ growth rates. The Sarepta deal is a one-time event, future growth is dependent on execution, and while the platform is promising, much of the upside remains unproven. Signal is good for a mid-cap biotech, but not exceptional or unique enough for a higher score.
Warby Parker (WRBY) Q2 2025: Retail Revenue Jumps 19% as Store Expansion and AI Drive Growth
Warby Parker demonstrates a long reinvestment runway, recent growth acceleration, and a disruptive omnichannel model with some self-reinforcing elements. However, unit economics and customer value are improving but not compounding at the highest rates, and while the business is growing, the signal is somewhat tempered by ongoing margin headwinds, execution risk, and the business being relatively well-followed. The Google partnership and insurance integration are notable, but the overall signal is strong rather than exceptional.
TechnipFMC (FTI) Q1 2025: Subsea 2.0 Orders Top 50%, Margin Expansion Signals Model Shift
TechnipFMC demonstrates a structurally improving business model with clear margin and backlog quality inflections, but the overall growth profile is solid rather than hyper-growth. The reinvestment runway is moderate—there are efficiency and share gains but not an unlimited opportunity. No single development is a step-change for the industry, and revenue growth is high single digits rather than 20%+. The business is cash generative and transitioning to a capital return model, but the signal is more about improved quality and execution than explosive growth. Still, the model shift, margin expansion, and capital discipline are highly investable attributes.
Prologis (PLD) Q3 2025: Data Center Pipeline Hits 5.2GW, Unlocking $15B Value Creation Path
Prologis demonstrates a strong growth inflection with its data center pipeline and leasing momentum, but as a large, well-followed REIT, the upside is more moderate than a true disruptor. There is evidence of improving unit economics and a significant recent development (data center capacity), but the business model, while evolving, is not highly disruptive. The growth outlook is strong but not explosive, and the company is transitioning into a new growth phase rather than being a pure high-growth or disruptive story.
CommScope (COMM) Q2 2025: $10.5B CCS Sale Unlocks Equity Value as ANS and Ruckus Surge 58%
While the business has a strong near-term growth inflection and margin expansion, the long-term reinvestment runway is moderate due to customer concentration and cyclicality. The divestiture is a major positive, but RemainCo is not a clear category leader with a self-reinforcing model or 20%+ long-term ROIC. Unit economics and cash flow are improving, but the business is not disruptive or likely to sustain >40% growth. Signal is solid but not exceptional.
Flex (FLEX) Q4 2025: Data Center Revenue Climbs 50%, Margin Target Pulled Forward
Flex shows strong signals in data center growth (50%), margin expansion, and free cash flow, but is still a well-followed, mature business with moderate reinvestment runway. There is clear business evolution and some disruptive elements (customer-sourced inventory, regionalization), but not at the level of a high-growth, high-ROIC disruptor. Some legacy segments remain pressured, and while growth is robust, it's not at the level of an exceptional, compounding growth stock.
APTV Q3 2025: $8.4B Bookings Underscore Portfolio Demand Amid EDS Separation Pivot
Aptiv demonstrates growth and some optionality, but is not a truly disruptive business with an exceptionally long reinvestment runway. Bookings and backlog are strong, and there are clear improvements in unit economics and cash flow, but the business remains exposed to cyclical and execution risks. The EDS separation is a notable pivot, but the overall signal is more moderate than exceptional, as much of the growth is in line with sector trends and not unique to Aptiv.
Nano-X (NNOX) Q2 2025: 20+ Active Systems Drive U.S. Imaging Revenue Expansion
Nano-X is transitioning from validation to commercial scaling, with strong growth signals such as a 100-unit installation target, expanding AI partnerships, and improving teleradiology margins. However, the reinvestment runway is not yet proven to be long at high returns, and unit economics are not clearly giant-level. The business model is disruptive and growth-focused, but cash flow and revenue acceleration are not yet at the highest tiers. The signal is solid for a transitioning growth story, but not exceptional.
TAT Technologies (TATT) Q2 2025: Backlog Jumps $85M as Margin Expansion Signals Durable Outperformance
TAT Technologies shows strong backlog growth, margin expansion, and a diversified model, but its reinvestment runway and business model disruption are moderate rather than exceptional. Unit economics and cash flow are improving, but not at a breakneck pace. The business is a growth story, but not one with massive, industry-changing upside or extreme optionality, so the signal score is solid but not top-tier.
Calumet (CLMT) Q2 2025: SAF Expansion CapEx Cut by $200M Accelerates Deleveraging Path
The SAF expansion and cost reset are meaningful, with clear growth and deleveraging implications. However, while the business is transitioning and has some disruptive elements, it is not a pure high-growth story with a long reinvestment runway or network effects. Unit economics and customer value are improving, but not at a transformative level. The business is positioned for growth, but the signal is capped by regulatory uncertainty and the specialty segment's mature profile.
PTC Therapeutics (PTCT) Q3 2025: Suffiance Launch Adds $19.6M, Broad Uptake Signals Durable PKU Franchise
PTC is showing clear growth inflection with the Suffiance launch, strong cash position, and portfolio diversification. However, while the launch is significant, the business is not disruptive at platform scale, and some elements (unit economics, self-reinforcement, customer value) are still emerging or need further proof for a higher signal score. Growth is strong but not at the highest tier across all dimensions.
StoneX (SNEX) Q3 2025: Institutional Segment Income Up 41% as RJO Acquisition Shifts Strategic Trajectory
StoneX is undergoing a strategic transformation with a long reinvestment runway and major acquisitions providing new growth avenues. Institutional and self-directed segments are growing rapidly, and the business model is becoming more resilient and less cyclical. However, some elements like unit economics, self-reinforcing advantages, and customer value deepening are present but not exceptional. The business is growth-oriented, but not at the highest levels of disruption or acceleration.
DuPont (DD) Q1 2025: Electronics Co. Up 14% as AI and Semi Demand Drive Outperformance
While Electronics Co. shows a strong growth surge (14% organic, 26% EBITDA), the broader DuPont business is a mix of secular and cyclical exposures. The electronics segment has some self-reinforcing qualities (design-in, spec'd-in sales), but the overall company is not a pure disruptor and faces legacy/cyclical drags. Backlog/guidance improvement is solid but not exceptional. Unit economics and margin expansion are clear positives, but the business is not a high-velocity, high-optional growth compounder. The split will crystallize a more interesting pure play, but currently the signal is moderate.