Core Insights - NZS Capital, LLC reported a +4.09% return for its "NZS Growth Equity Strategy" in Q3 2025, underperforming the Morningstar Global Target Market Exposure index which returned +7.60% during the same period [1] - Year-to-date, the fund achieved a +20.18% return, slightly outperforming the index's +18.26% return [1] Company Analysis: SailPoint, Inc. (NASDAQ:SAIL) - SailPoint, Inc. experienced a one-month return of -8.38% and a three-month gain of 4.51%, with its stock closing at $21.55 and a market capitalization of $11.995 billion on October 30, 2025 [2] - The company reported revenues of $264 million in Q2 2026, reflecting a 33% year-over-year increase, with subscription revenue growing by 36% [4] - SailPoint is not among the 30 most popular stocks among hedge funds, with 27 hedge fund portfolios holding its shares at the end of Q2 2025, down from 41 in the previous quarter [4] Cybersecurity Context - A zero-click vulnerability named "EchoLeak" was discovered in Microsoft 365 Copilot, marking a significant cybersecurity concern for AI agents, which could be exploited to exfiltrate sensitive data [3]

Core Insights - Goldman Sachs views AI as a significant growth driver, although the journey may be complex [1][5] - The company reported stronger-than-expected third-quarter earnings, attributed to robust investment banking fees and trading revenue [2] - Solomon expresses cautious optimism regarding the U.S. economy, suggesting a low chance of near-term recession [3][4] Economic Outlook - Solomon highlights the U.S. economy's diversity and current good shape, while acknowledging unseen factors that could trigger a recession [3] - The buildout of AI infrastructure is identified as a key factor supporting economic growth, with major companies expected to spend a combined $350 billion on AI this year [4] AI Investment Boom - Solomon discusses the potential for significant productivity gains as AI becomes integrated into enterprise operations [4] - He reflects on the historical context of technology investment cycles, noting that the current AI boom may not follow a straight trajectory [5][7] - The opportunity set with AI is described as enormous, but there will be both winners and losers in this space [6][7] Market Capitalization Concerns - Solomon addresses concerns about the massive market capitalizations of major tech firms, some nearing $5 trillion, suggesting that this could indicate a potential bubble [5] - He recalls past investment cycles and the phenomenon of "irrational exuberance," emphasizing that while AI investment trends are real, they will not be linear [6][7]

Group 1 - Jim Cramer highlighted CrowdStrike Holdings, Inc. (NASDAQ: CRWD) as a top play in the cybersecurity sector, alongside Palo Alto Networks, due to the anticipated growth driven by AI and data networking [2] - Cramer noted a significant increase in CrowdStrike's stock price, which rose by ten dollars within one minute following a positive mention from NVIDIA's CEO, Jensen Huang, emphasizing CrowdStrike's protective capabilities [2] - The article suggests that while CrowdStrike is a potential investment, there are AI stocks that may offer higher returns with limited downside risk, indicating a competitive landscape in the AI sector [2] Group 2 - The overall sentiment in the cybersecurity industry remains optimistic, with expectations of growth fueled by advancements in AI technology [2] - The discussion around CrowdStrike reflects broader trends in the market, where AI is seen as a catalyst for increased opportunities within the cybersecurity space [2]

Core Insights - Fortinet, Inc. is a cybersecurity company with a market cap of $64.5 billion, offering a range of security solutions including next-generation firewalls and cloud security [1] Performance Overview - Over the past 52 weeks, Fortinet's shares have increased by 6.9%, underperforming the S&P 500 Index which rose by 17.4% [2] - Year-to-date, Fortinet's stock is down 10.9%, while the S&P 500 has surged by 16% [2] - Fortinet has also lagged behind the Xtrackers Cybersecurity Select Equity ETF, which saw a 12.4% increase over the past year and a 9.7% rise year-to-date [3] Financial Performance - In Q2, Fortinet reported total revenue of $1.6 billion, a 13.6% year-over-year increase, slightly exceeding consensus estimates [4] - Net income for the same quarter rose by 15.9% to $440.1 million, and cash flow from operations increased by 12.2% to $1.3 billion [4] - The company's fiscal 2025 revenue guidance of $6.7 billion to $6.8 billion fell short of Wall Street expectations, negatively impacting investor sentiment [5] Earnings Expectations - Analysts project Fortinet's EPS to grow by 5.7% year-over-year to $2.21 for the current fiscal year ending in December [5] - Fortinet has a strong earnings surprise history, having exceeded consensus estimates in each of the last four quarters [5] Analyst Ratings - Among 42 analysts covering Fortinet, the consensus rating is a "Hold," with nine "Strong Buy," 30 "Hold," one "Moderate Sell," and two "Strong Sell" ratings [6] - This rating configuration has become less bullish compared to three months ago, where 14 analysts previously suggested a "Strong Buy" [7] - A recent price target of $87 was maintained by Jonathan Ruykhaver from Cantor Fitzgerald, indicating a potential upside of 3.3% from current levels [7]

Core Points - Plurilock Security Inc. has successfully closed a non-brokered private placement of $3,000,000 through the issuance of 3,000 debenture units at $1,000 per unit with a strategic investor [1] - The debenture units consist of 10% unsecured convertible debentures and 4,000 common share purchase warrants, both convertible until October 30, 2028 [2] - The proceeds from the offering will be utilized to accelerate growth initiatives, expand the Critical Services business, and strengthen working capital [4] Financial Details - Each debenture unit includes $1,000 principal amount of 10% unsecured convertible debentures, convertible at a price of $0.23 [2] - The debentures bear interest at a rate of 10% per annum, payable every three months, either in cash or shares [3] - The offering is subject to final approval from the TSX Venture Exchange and has a statutory hold period of four months and one day [5] Company Overview - Plurilock is an AI-native cybersecurity company that addresses complex cyber challenges in critical environments, serving clients including Five-Eyes governments and Global 2000 enterprises [8] - The company aims to deliver operational resilience through its Critical Services division, leveraging proprietary IP and AI-driven methodologies [8] Incentive Plans - The company has granted 100,000 options to an officer at an exercise price of $0.23 per share, with a vesting schedule over five years [7] - Additionally, 1,750,000 restricted share units have been granted to directors, officers, and consultants, with a three-year vesting term [7]

Core Points - Castellum, Inc. has been awarded a $66.2 million contract for logistics, engineering, and cyber support services for the Naval Air Warfare Center Aircraft Division, marking its first full and open prime contract win without small-business set-aside restrictions and the second-largest contract in the company's history [1][2][3] Group 1: Contract Details - The awarded contract is a five-year agreement aimed at supporting the Mission Operations & Integration Department at NAWCAD Lakehurst, which is responsible for Navy Aircraft Platform Support Equipment and Aircraft Launch Recovery Equipment [1][3] - Specialty Systems, Inc. will provide services related to logistics, engineering, and cyber work products for aircraft carriers and air-capable ships [1][3] Group 2: Company Strategy and Performance - The contract win reflects the effectiveness of Castellum's strategy to focus on full and open opportunities as it transitions to a larger business model [4] - Castellum has secured two major prime contracts in the past seven months, including a $103 million contract announced in February, indicating strong growth and competitiveness in the market [5] Group 3: Leadership and Team Recognition - The leadership at Castellum emphasizes the dedication and skills of its professionals, attributing the contract win to their hard work and commitment to providing world-class service [6] - The company expresses confidence in its team and the positive impact of these contracts on its mission capabilities and overall business growth [5][6]

Core Insights - Telos Corporation has secured a significant federal contract for its AI-driven governance, risk, and compliance platform, Xacta.ai, marking the first full-scale deployment of this solution within a U.S. federal agency [1][3] Group 1: Company Overview - Telos Corporation is headquartered in Ashburn, Virginia, and specializes in cybersecurity, cloud security, and enterprise identity/defense solutions for government and regulated industries globally [4] Group 2: Product and Technology - The Xacta.ai platform will be integrated across the operations of the federal agency, utilizing intelligent workflows, real-time insights, and automated compliance mapping [2] - In pilot testing, Xacta.ai significantly reduced compliance task durations from months to days and enabled the generation of implementation statements in minutes instead of hours [2][3] - The system aims to automate risk assessments, streamline authorization processes, and enhance security compliance at scale, contributing to the modernization of federal compliance operations through AI and automated workflows [3]

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks Jim Cramer recently talked about. Cramer noted the stock’s action after Jensen Huang’s endorsement, as he said: “Or how about CrowdStrike, one of my favorite stocks that, along with Nvidia, we own for the Charitable Trust. It was cruising along, up seven bucks today, and then Jensen Huang, yes, the CEO of Nvidia, said something at his GTC conference in Washington. He told people, ‘I can’t think of a better company to protect AI than CrowdStrike ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Fortinet, Inc. common stock between November 8, 2024, and August 6, 2025, of the upcoming lead plaintiff deadline on November 21, 2025, for a class action lawsuit related to misleading statements made by the company [1][2]. Group 1: Class Action Details - Investors who bought Fortinet common stock during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [2][6]. - The lead plaintiff must file a motion with the Court by November 21, 2025, to represent other class members in the litigation [2]. Group 2: Allegations Against Fortinet - The lawsuit claims that Fortinet made materially false and misleading statements regarding the impact and sustainability of a significant round of FortiGate unit upgrades, which were projected to generate between $400 million and $450 million in product revenue in 2025 and 2026 [4]. - It is alleged that the company misrepresented the potential of the refresh cycle, which was said to gain momentum in the latter half of 2025, while in reality, it consisted of older products that represented a "small percentage" of the company's business [5]. - The lawsuit contends that Fortinet concealed the true number of FortiGate firewalls eligible for upgrades and that the refresh cycle was pushed through much faster than communicated, leading to investor damages when the true situation was revealed [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering hundreds of millions of dollars for investors [3]. - The firm has been recognized for its leadership in securities class action settlements, achieving the largest settlement against a Chinese company at the time and ranking highly in the number of settlements since 2013 [3].

Investor Presentation – Q3 2025 October 30, 2025 Forward Looking Statements This presentation contains forward-looking statements within the meaning of applicable U.S. securities laws, including statements regarding our 2025 financial guidance, our plans to drive profitable, efficient revenue growth, and our general goals and expectations regarding our operational or financial performance in the future. Forward-looking statements may be identified by words such as "seek", "believe", "plan", "estimate", "ant ...