Been here a while and currently holding 16.2K shares across brokerage, HSA, and Roth IRA.

Anyone who has actually followed the company for a while knew based on Carrie's guidance during Q2 '25 call that Q3 '25  was going to be ugly with a return to negative EBITA profitability and sizably declining YoY revenue. They also know that Kaz forecast similar circumstances in his Q4 '25 guidance on the last call for both metrics.

I'm very excited about what Kaz has going on and the change to the business plan. That being said the housing market moves slowly and all of his ideas will take time to implement and realize their full impact, so I'm not expecting any miracles here with all of the layoffs and a bunch of new hires.

What I'm looking for from Kaz:

* **Contribution Margin/reduced net losses** \- would be great to see material improvement here with all this talk about efficiency and AI pilled euphoria, let's see some results even it's marginal
* **No crazy/political bs** \- it's fine to be pandering to the powers at be as all companies are, but they've been making pretty big overtures to this admin, which I hope don't ever extend beyond strictly collaborating to improve the housing market. Also no need to curse or try to be overly relatable, came off kinda weird on the first call
* **Overview of how transformation is driving results:** Kaz has built this early identity around radical change and being the most AI pilled/fastest company ever, great, show me how that's materially improving UX/uptake of the new products/financials etc.

I could see this going down a fair amount more if earnings are worse than expected, but I plan to give Kaz through EoY to live up to his hype and feel that it's unlikely this would go back below $3. Hopefully the emperor has clothes and we get an early surprise to the upside that turns momentum to green and we're soon above the 50 day moving avg.

Would be curious to hear from other people who've owned since before last summer or hold large positions?

Holding the Line.