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e Defense Command and the Missile Defense Agency... While this process has shown Washington at its worst, I am confident Huntsville will show our country at its best." Senator Tuberville: "This is a great day for our country, not just for our state of Alabama.…
eal-time infrared imagery, hotspot identification, integrated operator workstation
→ $648K annually, up to $1.9M over 3 years
→ First joint Bridger-FMS project post-acquisition
Air Force WC-135 (September 2025—same month as Space Command):
→ Reverse engineering and obsolescence management for the fleet, leveraging advanced 3D laser scanning and engineering solutions to replace critical aircraft systems that have reached end of life
Air Force KC-135: Ongoing modifications and systems updates
VI. FMS 12-Month TTM Performance
FMS TTM (July 2024-June 2025):
Q3 2024: $1.6M
Q4 2024: $1.4M
Q1 2025: $1.9M
Q2 2025: $0.4M (federal budgeting delays)
TTM Total: $5.3M
VII. Bridger Aerospace Current Performance
Bridger reported record Q2 revenue of $30.8M (136% YoY increase) and achieved first positive net income of $0.3M versus $10M loss prior year.
Strong balance sheet position: $17.0M cash and $18.3M receivables (expected to convert to cash in coming months)
Management signed $46M sale-leaseback for Bozeman campus with proceeds directed to debt reduction, closing expected Q3 2025. Annual interest savings estimated at $3-5M.
Management reaffirmed 2025 guidance at higher end: $105-111M revenue, $42-48M adjusted EBITDA.
Core wildfire business inflecting to profitability while balance sheet being de-risked—and market assigns minimal value to FMS defense positioning.
Valuation:
→ Current market cap: $89M
→ FMS valued at acquisition cost: $20.6M (23% of market cap)
→ Minimal growth premium for Space Command positioning
Investment Thesis:
Bridger acquired a defense contractor 14 months before a major defense catalyst in that contractor's backyard. This represents pattern recognition of strategic positioning that management understood well before the market.
FMS is positioned as a Huntsville-based defense contractor with established relationships, relevant certifications, and exceptional proximity to Redstone Arsenal during a period of unprecedented defense investment in the region.
The core of Bridger's wildfire business is inflecting to profitability with strong operational momentum, while the balance sheet is being systematically de-risked. The market appears to assign zero optionality value to FMS's defense positioning despite the clear structural tailwinds. - Ben Deveran tweet
→ $648K annually, up to $1.9M over 3 years
→ First joint Bridger-FMS project post-acquisition
Air Force WC-135 (September 2025—same month as Space Command):
→ Reverse engineering and obsolescence management for the fleet, leveraging advanced 3D laser scanning and engineering solutions to replace critical aircraft systems that have reached end of life
Air Force KC-135: Ongoing modifications and systems updates
VI. FMS 12-Month TTM Performance
FMS TTM (July 2024-June 2025):
Q3 2024: $1.6M
Q4 2024: $1.4M
Q1 2025: $1.9M
Q2 2025: $0.4M (federal budgeting delays)
TTM Total: $5.3M
VII. Bridger Aerospace Current Performance
Bridger reported record Q2 revenue of $30.8M (136% YoY increase) and achieved first positive net income of $0.3M versus $10M loss prior year.
Strong balance sheet position: $17.0M cash and $18.3M receivables (expected to convert to cash in coming months)
Management signed $46M sale-leaseback for Bozeman campus with proceeds directed to debt reduction, closing expected Q3 2025. Annual interest savings estimated at $3-5M.
Management reaffirmed 2025 guidance at higher end: $105-111M revenue, $42-48M adjusted EBITDA.
Core wildfire business inflecting to profitability while balance sheet being de-risked—and market assigns minimal value to FMS defense positioning.
Valuation:
→ Current market cap: $89M
→ FMS valued at acquisition cost: $20.6M (23% of market cap)
→ Minimal growth premium for Space Command positioning
Investment Thesis:
Bridger acquired a defense contractor 14 months before a major defense catalyst in that contractor's backyard. This represents pattern recognition of strategic positioning that management understood well before the market.
FMS is positioned as a Huntsville-based defense contractor with established relationships, relevant certifications, and exceptional proximity to Redstone Arsenal during a period of unprecedented defense investment in the region.
The core of Bridger's wildfire business is inflecting to profitability with strong operational momentum, while the balance sheet is being systematically de-risked. The market appears to assign zero optionality value to FMS's defense positioning despite the clear structural tailwinds. - Ben Deveran tweet
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The Startup Ideas Podcast (SIP) 🧃
RT @gregisenberg: is genspark ($50M ARR in 6mo) underrated next to chatgpt, claude, gemini, and manus?
i spent 34 minutes testing its “super ai agent” and how it actually works.
1/ you write one prompt and it runs through gpt-5, claude sonnet, gemini 2.5, and mistral large then gives you the best response.
2/ you upload one image and it runs it through nano banana, flux, and bytedance then returns the most realistic version.
3/ you generate a video and genspark routes it through wan 2.2, pika labs, gen-2, and runway ml combining the best clips and motion.
4/ you paste an idea for slides and it uses gpt-5, claude 3 opus, gemini advanced, and genspark’s slide model to create a full deck with visuals and market data.
5/ AI slides and building a fundraising deck with a few prompts (wasn't perfect, but it was a good start for my personal workflow)
what's cool about genspark is it's inexpensive and does it all. kinda like the costco of LLMs.
TLDR; you hand it one prompt + input, and genspark routes sub-tasks across models and tools behind the scenes. it’s orchestration over one ideal model.
perspective shift.
instead of jumping from model to model, llm to llm, genspark shows what the next generation of ai will look like orchestration over obsession.
and for the rest of us using it, the only thing that matters is getting the best outcome.
what other AI app should I review next?
i'll keep doing it if it's helpful for folks.
tweet
RT @gregisenberg: is genspark ($50M ARR in 6mo) underrated next to chatgpt, claude, gemini, and manus?
i spent 34 minutes testing its “super ai agent” and how it actually works.
1/ you write one prompt and it runs through gpt-5, claude sonnet, gemini 2.5, and mistral large then gives you the best response.
2/ you upload one image and it runs it through nano banana, flux, and bytedance then returns the most realistic version.
3/ you generate a video and genspark routes it through wan 2.2, pika labs, gen-2, and runway ml combining the best clips and motion.
4/ you paste an idea for slides and it uses gpt-5, claude 3 opus, gemini advanced, and genspark’s slide model to create a full deck with visuals and market data.
5/ AI slides and building a fundraising deck with a few prompts (wasn't perfect, but it was a good start for my personal workflow)
what's cool about genspark is it's inexpensive and does it all. kinda like the costco of LLMs.
TLDR; you hand it one prompt + input, and genspark routes sub-tasks across models and tools behind the scenes. it’s orchestration over one ideal model.
perspective shift.
instead of jumping from model to model, llm to llm, genspark shows what the next generation of ai will look like orchestration over obsession.
and for the rest of us using it, the only thing that matters is getting the best outcome.
what other AI app should I review next?
i'll keep doing it if it's helpful for folks.
tweet
Offshore
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Yellowbrick Investing
$MLUAV.PA
tweet
$MLUAV.PA
$MLUAV.PA
The most illiquid stock I've ever bought. Pick-and-shovel play for the drone industry.
➢ 143m EUR mcap
➢ 50% 3Y Rev. CAGR
➢ 92% GM, 40% OM, 55% ROCE
➢ 30x P/E LTM
➢ Supplier for $AMZN drone program
⚠️ ≈ 1,300 EUR trading volume/day!!
📌Quick pitch below 🧵 https://t.co/JHB3333io0 tweet
Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: Incremental margin measures how much of each additional revenue dollar becomes profit, reflecting a company’s efficiency in converting growth to net income
It’s a useful metric for identifying businesses that scale effectively, with revenue strongly boosting the bottom line
Here are 11 quality companies & their incremental margin % over the past 5 years🧵
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RT @DimitryNakhla: Incremental margin measures how much of each additional revenue dollar becomes profit, reflecting a company’s efficiency in converting growth to net income
It’s a useful metric for identifying businesses that scale effectively, with revenue strongly boosting the bottom line
Here are 11 quality companies & their incremental margin % over the past 5 years🧵
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Capital Employed
A fresh batch of Q3 fund letters has just been uploaded. 40 fascinating letters to get stuck into.
https://t.co/wUDSfhSG8N https://t.co/MtYoIi7cch
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A fresh batch of Q3 fund letters has just been uploaded. 40 fascinating letters to get stuck into.
https://t.co/wUDSfhSG8N https://t.co/MtYoIi7cch
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AkhenOsiris
How do you draw the next generation of talent?
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How do you draw the next generation of talent?
Andy Jassy forcing employees to come into the office five days a week for a stock than never goes up https://t.co/a0eE7xrU5E tweet
Umesh
Brilliant work by Francolli. ✨👏
Honoured to feature as Mr Umesh 😎
Must watch, is all I can say !
tweet
Brilliant work by Francolli. ✨👏
Honoured to feature as Mr Umesh 😎
Must watch, is all I can say !
For all the A.I people who sit in my feed and make me smile, sorry I couldn't afford real actors, lol
If you see someone from the A.I community you recognize, pass it on
Thanks to @techhalla for the transition idea & @umesh_ai for his action sequences
Sound up! https://t.co/k3AGzB7iYK tweet
X (formerly Twitter)
Francolli (@francolli) on X
For all the A.I people who sit in my feed and make me smile, sorry I couldn't afford real actors, lol
If you see someone from the A.I community you recognize, pass it on
Thanks to @techhalla for the transition idea & @umesh_ai for his action sequences
…
If you see someone from the A.I community you recognize, pass it on
Thanks to @techhalla for the transition idea & @umesh_ai for his action sequences
…
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Investing visuals
$TSM Q3 earnings 🚨
🟢 Revenue $32.27B (Est. $31.61B)
🟢 Earnings per share: $2.84 (Est. $2.63)
Q4 outlook:
🟢 Revenue: $32.2B–$33.4B (Est. $32.0B)
🟢 Gross Margin: 59–61%
"AI-related demand continues to be very strong".
tweet
$TSM Q3 earnings 🚨
🟢 Revenue $32.27B (Est. $31.61B)
🟢 Earnings per share: $2.84 (Est. $2.63)
Q4 outlook:
🟢 Revenue: $32.2B–$33.4B (Est. $32.0B)
🟢 Gross Margin: 59–61%
"AI-related demand continues to be very strong".
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Yellowbrick Investing
$CTT.AX
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$CTT.AX
$CTT.AX some update on thesis.
Although we didn’t have any update yet from them, and the stock is now in a wait-and-see moment, we have had some very encouraging signals:
Louis Vuitton earnings, beat every consensus case, returning to growth in fashion. Probably nothing. tweet
X (formerly Twitter)
Sergi (@mascarosergi) on X
$CTT.AX some update on thesis.
Although we didn’t have any update yet from them, and the stock is now in a wait-and-see moment, we have had some very encouraging signals:
Louis Vuitton earnings, beat every consensus case, returning to growth in fashion.…
Although we didn’t have any update yet from them, and the stock is now in a wait-and-see moment, we have had some very encouraging signals:
Louis Vuitton earnings, beat every consensus case, returning to growth in fashion.…
Offshore
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Offshore
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App Economy Insights
$TSM TSMC Q3 FY25:
CEO C.C. Wei: "Conviction in the AI megatrend is strengthening."
• Revenue +41% Y/Y $33.1B ($1.5B beat).
• Capex $9.7B (vs. $9.6B in Q2 FY25).
• EPADR $2.92 ($0.32 beat).
• FY25 raised from ~30% to mid-30%. https://t.co/HMrLs1E97X
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$TSM TSMC Q3 FY25:
CEO C.C. Wei: "Conviction in the AI megatrend is strengthening."
• Revenue +41% Y/Y $33.1B ($1.5B beat).
• Capex $9.7B (vs. $9.6B in Q2 FY25).
• EPADR $2.92 ($0.32 beat).
• FY25 raised from ~30% to mid-30%. https://t.co/HMrLs1E97X
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