NP

After a Stage 2 breakout with clear higher highs and rising EMAs, the medium-term bias remains bullish, but short-term timing is neutral given overbought RSI and price extension. We will defer entry and look for a pullback into rising EMAs or the prior breakout zone for a higher-probability long setup.

• ↑Q1 revenue +29% YoY to $37.8M, with adjusted EBITDA margin ~57%.
• ↑Net income of $7.3M in Q1; retention rate ~90% reflects strong loyalty.
• ↓Total debt of $240M heightens leverage risk amid possible rate hikes.