Regarding what analysts expected, Goldman Sachs anticipated (and they were above consensus):
- 1.709b revenue (beat)
- 480m ebitda (beat)
- subscriber growth of 50k in UK (beat) and 23k US (beat)
- rule of 40 achieved in 2025 (beat)
- operating expense ratio 75% (beat)
Not a bad outcome at all.
(They didn't have any estimates around diversity, but I don't think that matters to the market, probably more about attracting the type of employees they're after).
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