New addition to the Polk family. Trained to be a cigar retriever.

happy national coaches day to the best!!

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“We don’t do fun things” Charles Huff is all about football Is no music at practice an insane move?!

🚨The Champ is Here: Todd Golden sit down interview with Breakfast With The Gators 🚨 Blessed to be joined by @CoachToddGolden tonight. Lot of great insight on the program he has built & the state of the 2026-27 Florida Gators youtu.be/C4o3n_EQwbI?si=KlrE… via @YouTube

🚀 $NXDR Q4 UPDATE: Every metric hit a record. EBITDA breakeven came 12 months early. The CEO called it "underappreciated." The new CFO delivered institutional discipline on his first call. The stock has dropped 18% since my 12/10 thesis. Here's why the mispricing just got wider. 🧵👇 On December 10th, I published a full framework on Nextdoor at $2.00 — arguing it was the most mispriced agentic-AI platform of the 2020s. Since then, Q4 confirmed every pillar of the thesis. And the stock fell to $1.65. THE Q4 RECEIPTS: • Revenue: $69M (+7% YoY) — company record • Adjusted EBITDA: +$8M (+11% margin) — company record • Self-serve revenue: +32% YoY — 60% of total, growth engine intact • ARPU: +13% YoY — ACCELERATED from +8%, without increasing ad load • GAAP net loss: -$4M — 13pp YoY improvement • Cash: $405M, ZERO debt — UP despite share buybacks • Revenue per employee: +26% YoY • Full-year EBITDA: POSITIVE — was targeting FY2026, hit it in FY2025 • That's a $70M+ EBITDA swing in 24 months Three consecutive EBITDA guidance beats. Conservative guidance culture — the same pattern you see at Apple and Caterpillar. Systematically underpromise, consistently overdeliver. THE NEW CFO: Indrajit Ponnambalan. First earnings call. Ex-Premion (Fox's CTV ad platform), Match Group, Time Warner Cable, AOL. This is ad-tech monetization DNA — hired to SCALE revenue, not just manage a balance sheet. His first-call language: "We do not assume that access to capital markets will always be readily available for companies of our size." "Any use of cash must exceed our return on investment thresholds." You don't hear this from a sub-$300M revenue company. This is institutional discipline arriving at exactly the right time. THE CEO'S OWN THESIS: For the first time, Tolia articulated a Five-Pillar Investment Thesis on an earnings call: 1️⃣ Neighborhood Graph — 350K neighborhoods, 105M verified, ~1/3 of US households 2️⃣ Intent-Driven Engagement — real-world decisions, not passive scrolling 3️⃣ Multiple Monetization Pathways — ads, lead gen, SMB self-serve 4️⃣ Validated Business Model — retention, revenue per employee, operating leverage 5️⃣ Founder's Mentality — long-term thinking, disciplined capital allocation I wrote a framework in December. In February, the CEO published his own. They're the same thesis. Then he said: "We believe [Nextdoor] remains underappreciated." It's the first valuation comment he has made since he came back. He said it from $1.65, after every metric was a record. THE MISPRICING MATH: Market cap at $1.65: ~$627M Cash: $405M, zero debt Enterprise value: ~$222M FY2025 revenue: $263M (growing, now profitable) EV/Revenue: 0.84x In December it was 0.95x. The company got better. The ratio got cheaper. Reddit ( $RDDT ) trades at ~14.6x forward revenue. Apply that to $NXDR's ~$275M FY2026 consensus: 14.6 × $275M = $4.0B EV + $405M cash ≈ $4.4B market cap ÷ 380M shares = ~$11.60/share. Stock today: $1.65. That's a 7x gap to peer-level valuation. THE STRUCTURAL BLINDSPOT: 3 analysts cover $NXDR. The same 3. For 3 straight quarters. Zero new initiations despite improving financials every quarter. Q4 had more retail investor questions (4) than analyst questions (3). The company added a retail Q&A section because Wall Street won't show up. No coverage → no price targets → no institutional triggers → no buying. This is not a fundamental problem. It's a visibility problem. And visibility problems resolve violently in micro-caps. WHAT I'M WATCHING (honest risks): ⚠️ WAU declined 3 consecutive quarters (21.8M → 21.0M) — Tolia says intentional (notification reduction, paused acquisition, rebuilding cold start). ARPU acceleration supports this. But it needs to stabilize. ⚠️ Revenue still modest ($263M). This is early. ⚠️ No dual-class governance. Founder can be removed. ⚠️ Lead-gen and Recommendations still pre-revenue. I'm not hiding the risks. I'm saying the risk/reward at 0.84x EV/Revenue, $405M cash, a founder-CEO who just beat every target, and a new CFO hired to scale monetization — is asymmetric. THE PATTERN: • $CVNA at $3.50–$11 → $486 • $OPEN at $0.51–$0.73 → $10.87 • BTQ at $0.21 → $16 We started buying $NXDR at $1.70. The setup is always the same: real execution, ignored by the market, trading below intrinsic value by an order of magnitude. Dismissal → Evidence → Narrative shift → Re-rating. Q4 moved Nextdoor from phase one to phase two. The evidence is arriving. The market hasn't engaged. Nextdoor isn't a social network. It's the verified neighborhood graph — 105M real identities, real proximity, real trust — and it just proved the business model works. The neighborhood is the next platform. Nextdoor is the first mover. The Q4 earnings confirmed it. The stock is 18% cheaper than when I told you. $NXDR 🚀