Stock Analysis

For the quarter ended 30 June 2026, reported on 6 August, revenue was $280.4 million, up 14.5% from $244.8 million. Adjusted EBITDA was $120.3 million, up 21.0%, and the adjusted EBITDAMarginwas 46.2%, against 42.9% a year earlier.

GAAPNet Incomewas $17.8 million, or 11.9 per cent of sales, compared with $13.7 million in the third quarter of 2025.GAAPdiluted earnings per share were $0.61, against $0.46. Adjusted diluted earnings per share were $0.77, against $0.60.

The company said organic growth was at the high end of its expectations. Because the headline growth rate is modest, the concentration of momentum in one vertical is a useful detail for assessing how broad the recovery is. Constant-currency growth of 4.1 per cent …

Subscription annualRecurring Revenue(ARR) reached $1,103.9 million, up 20 per cent. That is about $50 million higher than the $1,054 million reported for the June quarter. Net new subscription ARR was $51.0 million on a constant-currency basis, and subscription net dollar retention, a customer expansion …

GrossMarginwas 30.5 per cent, up from 29.7 per cent.Operating Incomewas $24.9 million, a 10.6 per cent margin, compared with $23.3 million, also 10.6 per cent.Net Incomewas $19.4 million, up 17.9 per cent, and diluted earnings per share were $0.40, up 21.2 per cent from …

A transaction of the reported size would affect leverage, integration costs and competition scrutiny, so any confirmation from DoorDash or Instacart would be a material development.

That makes this a natural moment to revisit what the company said at its previous report, on 29 July, and what it guided for the year.