$TRIP update tomorrow morning at TSOH Investment Research

Revenue Comparison for Walmart U.S. and Amazon North America

Revenues Per Warehouse for Costco and Sam's Club

Walmart Annual Revenues $WMT

Booking Holdings TTM Room Nights $BKNG

Airbnb update tomorrow morning at TSOH Investment Research

Airbnb TTM GBV $ABNB

Streaming Share of U.S. TV Time

Airbnb Q4 FY25 letter: "We ended 2025 with over nine million active listings around the world. During Q4 FY25, active listings grew relatively in-line with the YoY increase of Nights and Seats Booked [+10% YoY.]"

Today's TSOH Investment Research Roblox: "Disruption In The Other Direction" thescienceofhitting.com/p/disruption...

Roblox update tomorrow (6:30am ET) at TSOH Investment Research

As noted in the Roblox S-1, there were 1,057 developers at that time (TTM Sept 2020) that earned $10,000 or more, with just 29 developers that earned $1 million or more. Fast forward to 2025: the top 1,000 developers on Roblox, on average, earned $1.3 million last year.

$TRIP is now trading at <$10 per share Published an initiation back in January: thescienceofhitting....

Airbnb Annual Revenues $ABNB

Roblox TTM Bookings Per Average Employee $RBLX

The leading U.S. wireless companies added nearly 15 million net FWA customers over the past four years. T-Mobile, which is leading the pack at ~8.5 million FWA customers as of YE FY25, now expects to reach ~15 million FWA customers by 2030.

Roblox TTM FCF Margins $RBLX

Spotify TTM FCF of €2.9 billion $SPOT

Over the past quarter century, Amazon has reported double-digit revenue growth in every year except for one (+9% in FY22). Revenues increased from ~$2.8 billion in FY00 to ~$716.9 billion in FY25 (~25% CAGR)

TSOH Portfolio Change - 02/09/2026 thescienceofhitting.com/p/portfolio-...

Today’s TSOH Investment Research “Peloton: Clipping In” #$PTON thescienceofhitting.com/p/peloton-cl...

$PTON update tomorrow morning at TSOH Investment Research

TSOH Note thescienceofhitting.com/p/tsoh-note-...

Roblox TTM Engagement (Total Platform Hours)

AWS Annual Revenues $AMZN

As of YE FY25, Amazon had ~1.58 million FT and PT employees Nearly ~7x larger than at YE FY15, but down ~2% since YE FY21

Amazon Cumulative Segment EBIT, FY15 - FY25

Snap TTM Revenues

Peloton TTM Revenues $PTON

This morning's TSOH Investment Research is an update on Microsoft, a stock that has now been one of my largest holdings for the past 15 years thescienceofhitting.com/p/microsoft-...

Google Cloud run rate revenues nearly doubled over the past two years

Microsoft update tomorrow morning at TSOH Investment Research As always, includes prior disclosure of any proposed portfolio changes

Match Group Total Payers, YoY Change $MTCH

Microsoft Cloud TTM Gross Margins

Today’s TSOH Investment Research “Meta: In Zuck We Trust?” thescienceofhitting.com/p/in-zuck-we...

Updated list of TSOH Investment Research for the past six months

Meta update tomorrow morning at TSOH Investment Research

At Meta, cumulative Reality Labs losses will cross $100 billion in FY26

Meta Regional Revenues $META

Meta OpEx, % of Sales $META

At the low tick in November 2022, Meta had an enterprise value of ~$200 billion. It was trading at less than 2x FY25 EBIT for the core business (FOA).

Meta TTM Revenues Per Average Employee $META

Meta TTM Free Cash Flow $META

Comcast U.S. Pay-TV Customers $CMCSA

Comcast lost ~590k net broadband customers in FY25 (base -1.8% YoY)

Fever-Tree brand FY25 revenues +4% CC to £373 million

Meta YoY Revenue Growth $META

Microsoft Azure Constant Currency Revenue Growth $MSFT

AT&T Broadband Customer Mix Fiber Mix at Year End: FY18 - 19% FY19 - 28% FY20 - 36% FY21 - 43% FY22 - 52% FY23 - 61% FY24 - 67% FY25 - 71%