Economic SensitivityEconomic sensitivity, restaurant spending slowdown, competitive environment, potential pricing pressure, limited history of profitability, and valuation are factors to consider.
Growth ConcernsInvestors expect beat/raise, but could harp on Q4 recurring GP guidance of +22-25%, and initial 2026 comments of recurring GP of 20%+ and adjusted EBITDA margins flat/up slightly.
Market ExpectationsManagement's projection for flat adjusted EBITDA margins for FY26 was below market expectations, which had anticipated significant expansion.