The 4-year cycle has provided the #Bitcoin top!It's probably the most common question and debate. Where are we in the cycle? Did Bitcoin just see its peak of this cycle?Ultimately, it could be. Definitely. The rally to $125K happened just days before the government shutdown, and, since then, markets have been going down substantially.However, this cycle has been proven to act differently. The ETF has added $60B in fresh liquidity into the Bitcoin markets, through which a new all-time high was created prior ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $7.6 million, a decrease of 12% compared to $8.7 million in Q2 2024 [10] - Franchise royalties decreased to $7.3 million from $8.2 million year-over-year [10] - Net income after tax was $1.1 million or $0.08 per diluted share, down from $2 million or $0.15 per diluted share in the previous year [12] - Adjusted net income was $2.1 million or $0.15 per diluted share, compared to $2.5 million or $0.18 per diluted share in Q2 2024 [13] - Adjusted EBITDA was $3.3 million with a margin of 43%, down from $4 million and 47% in the prior year [13] Business Line Data and Key Metrics Changes - System-wide sales for Q2 2025 were $125.9 million, down from $146.1 million in Q2 2024, but increased by 6% sequentially from $118.4 million in Q1 2025 [11] - Service revenue was $354,000, down from $479,000 in the same quarter last year [11] - Temporary staffing and day labor offerings performed better than MRI Network, although the Upper Midwest market remained weak [7] Market Data and Key Metrics Changes - The manufacturing industry continued to contract, losing 11,000 jobs in July, marking the lowest factory employment levels since July 2020 [6] - The overall hiring environment remains challenging, with employers delaying hiring decisions due to macroeconomic uncertainties [6] Company Strategy and Development Direction - The company is focused on acquisitions to expand market reach and geographic footprint, having completed over $77 million in acquisitions since the merger with Command Center [8] - The company maintains a strong balance sheet with only $4.3 million in debt, positioning itself for potential value-creating opportunities [9] - The company is optimistic about the enforcement of immigration regulations, which may create a more level playing field in the staffing industry [8] Management's Comments on Operating Environment and Future Outlook - Management noted that the hiring environment has been challenging for over two years, with a wait-and-see approach from employers [6] - There are signs of stabilization in demand, but the company has not yet exceeded last year's sales figures [36] - Management expressed cautious optimism about regaining clients in sectors like food processing, which typically employ a large number of non-E-Verify workers [39] Other Important Information - Current assets exceeded current liabilities by $28.6 million as of June 30, 2025, compared to $25.1 million at the end of 2024 [14] - The company has paid a regular quarterly dividend since 2020, with the most recent dividend of $0.06 per share paid on June 16, 2025 [15] Q&A Session Summary Question: Update on potential acquisition of TrueBlue - Management remains interested in pursuing a transaction with TrueBlue but has no new updates to report [23] Question: Market share and system-wide sales performance - Management acknowledged losing some market share due to significant MRI franchisees not renewing their agreements, impacting overall sales figures [25][30] Question: Overall market environment and demand trends - Management noted that while there are signs of stabilization, sales have not yet exceeded last year's figures, and the hiring environment remains challenging [36] Question: SG&A expense outlook - Management indicated that SG&A expenses were down sequentially, and there are no significant changes expected in the third quarter [41] Question: Workers' compensation expense outlook - Management aims to eliminate workers' compensation expenses, with improvements expected in the coming year [45]

Core Viewpoint - MongoDB's stock has significantly underperformed in the past year, dropping 54.1%, amidst a challenging macroeconomic environment and increasing competition [1][2]. Competitive Landscape - MongoDB faces strong competition from Amazon's DynamoDB, Couchbase, and Oracle, which are enhancing their performance and features [3][4]. - Oracle's shares have increased by 10.1% over the past year, while Amazon and Couchbase have seen declines of 2.7% and 40%, respectively [3]. Financial Performance and Margins - MongoDB's operating margin is projected to decrease from 15% in fiscal 2025 to 10% in fiscal 2026, primarily due to the absence of high-margin license revenues and increased R&D and marketing expenses [5]. - The company's gross margin has declined from 77% to 75%, with its lower-margin cloud product, Atlas, now representing 71% of revenues [6]. Revenue Guidance - For fiscal 2026, MongoDB anticipates revenues between $2.24 billion and $2.28 billion, indicating a modest growth of 12.4% year-over-year, a significant drop from the 19% growth in fiscal 2025 [7]. - The Zacks Consensus Estimate for revenues stands at $2.26 billion, reflecting a year-over-year growth of 12.88% [7]. Earnings Outlook - The consensus estimate for earnings is $2.66 per share, revised down by 2.2% in the last 30 days, indicating a year-over-year decline of 27.32% [8]. - MongoDB has consistently beaten earnings estimates in the past four quarters, with an average surprise of 62.04% [8]. Investment Recommendation - Given the competitive pressures, declining margins, and weaker revenue guidance, it is suggested that investors consider selling MongoDB stock [9][10].