TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

I have over 20 years’ experience investing in the TMT and Consumer sectors, almost entirely on the buyside. Started at Bernstein covering software in 2001, moved to the buyside at Government of Singapore Investment Corporation (GIC) in 2003, covering hardware, software, and media. 

After getting an MBA at NYU in 2008 and a CFA, I spent 8 years at Coburn Ventures (a market neutral TMT/Consumer hedge fund). In 2015, I joined Deimos Asset Management, a low net multi-strat, where I managed a  TMT/Consumer portfolio.

I've spent the past few years at Obex Capital Management providing independent investment research to TMT and Consumer investors.

TMT & Consumer Independent Equity Research Analyst

Crowdstrike FY4Q22: (Bear) Case Adjourned

Crowdstrike Analyst Day: Why It’s a Buy at 23x Forward P/S

Crowdstrike FY1Q23: Share Gains Will Lead to Share Gains

Crowdstrike Analyst Day: Really, Just $3B in ARR?

Crowdstrike FY2Q22: The Ferrari of Security Platforms

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

Equity Bottom-Up

<ul>
<li>Crowdstrike printed another strong quarter, continues to beat and raise despite overblown competitive concerns.</li>
<li>Revenue growth (+64%), Margin expansion (+520bps) and FCF generation (32% FCF margins) shows best in class rule of 40 SaaS metric.</li>
<li>Humio continues to show great traction, achieved 6 month signup target in 6 weeks.</li>
</ul>


Crowdstrike printed another strong quarter, continues to beat and raise despite overblown competitive concerns.
Revenue growth (+64%), Margin expansion (+520bps) and FCF generation (32% FCF margins) shows best in class rule of 40 SaaS metric.
Humio continues to show great traction, achieved 6 month signup target in 6 weeks.


Crowdstrike FY3Q22: Platform, Not Endpoint

Crowdstrike Holdings

Crowdstrike FY3Q22: Platform, Not Endpoint