FreeSoftware & SaaSNET4 min read
NET — consumption is stabilising
NET chart · D
The thesis
Net revenue retention is basing, and that's the variable that re-rates the stock.
The margin story is arriving faster than guidance implies as efficiency sticks.
What I'm watching
- NET NRR vs last quarter
- FCF margin trajectory
- A clean move through the level I flag below
Positioning
Short on NET, 2-8 weeks horizon. Conviction: Low. Multiples are sentiment-sensitive here — defined risk only.
Opinion, not investment advice. The author may or may not hold positions discussed.
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