RUSH TRANSCRIPT Joining me ░░░░░░░░ is James Good morning ░░░░░░░░ to see you Good ░░░░░░░░ Frank Good to see ░░░░░░░░ as well We ll ░░░░░░░░ about the report coming ░░░░░░░░ tonight and excited to ░░░░░░░░ to the call for ░░░░░░░░ Very excited to listen ░░░░░░░░ the call What are ░░░░░░░░ looking for Subscriber growth ░░░░░░░░ an important metric and ░░░░░░░░ revenue is another key ░░░░░░░░ Are you expecting to ░░░░░░░░ similar help from the ░░░░░░░░ crackdown this quarter We ░░░░░░░░ They we feel there ░░░░░░░░ four accelerants Our view ░░░░░░░░ they may do a ░░░░░░░░ this quarter which would ░░░░░░░░ the biggest quarter they ░░░░░░░░ seen in their history ░░░░░░░░ translates to 4 80 ░░░░░░░░ share We are looking ░░░░░░░░ what greg peters has ░░░░░░░░ talking about on these ░░░░░░░░ the CEO They want ░░░░░░░░ profit margin growth That ░░░░░░░░ a different story They ░░░░░░░░ maturing as a business ░░░░░░░░ don t want to ░░░░░░░░ about subscriber numbers so ░░░░░░░░ That s why the ░░░░░░░░ last time Ad revenue ░░░░░░░░ is a new thing ░░░░░░░░ them It increases more ░░░░░░░░ expected Mitigating password sharing ░░░░░░░░ know my kids hate ░░░░░░░░ but it s smart ░░░░░░░░ brought revenue up Are ░░░░░░░░ getting more subscriptions overseas ░░░░░░░░ think those four accelerants ░░░░░░░░ better numbers On this ░░░░░░░░ it is expected to ░░░░░░░░ a 7 5 move ░░░░░░░░ the upside or the ░░░░░░░░ side As someone who ░░░░░░░░ this stock for a ░░░░░░░░ of clients how do ░░░░░░░░ see that earnings coming ░░░░░░░░ Is this something you ░░░░░░░░ to add to ahead ░░░░░░░░ earnings or trim because ░░░░░░░░ the implied volatility You ░░░░░░░░ I love that it ░░░░░░░░ on that list I ░░░░░░░░ agree that it is ░░░░░░░░ going to go one ░░░░░░░░ or the other I ░░░░░░░░ it s going up ░░░░░░░░ if you look at ░░░░░░░░ quarter they beat on ░░░░░░░░ top and bottom line ░░░░░░░░ went down 10 I ░░░░░░░░ it was 9 and ░░░░░░░░ 20 higher the next ░░░░░░░░ months If I owned ░░░░░░░░ I would definitely keep ░░░░░░░░ hold it If it ░░░░░░░░ out and the numbers ░░░░░░░░ good but the stock ░░░░░░░░ like last quarter you ░░░░░░░░ to be a buyer ░░░░░░░░ is 26 times earnings ░░░░░░░░ It hasn t been ░░░░░░░░ cheap as a multiple ░░░░░░░░ I can t remember ░░░░░░░░ last time it was ░░░░░░░░ times earnings Great opportunity ░░░░░░░░ own it if you ░░░░░░░░ have and if you ░░░░░░░░ t buy on the ░░░░░░░░ James I know you ░░░░░░░░ saying 26 times forward ░░░░░░░░ of the our data ░░░░░░░░ 33 times forward earnings ░░░░░░░░ understand your argument You ░░░░░░░░ a lot of upside ░░░░░░░░ the stock James Demmert ░░░░░░░░ you very much.