, 70 million or so with their other licensing deals, now you're talking about 420 million ebidta, and 70 of it is licensing, there's got to be a re-rating in the stock so people feel that the stock is going much higher. i feel it's going much higher. i'm still long it. people have thrown out a number of $100. it's whiteboarding it at this point but this is all tail winds, this is a huge win for sonos and they might go after amazon i don't know i don't know anything thaw you don't know but i know there's a lot of infringements. >> those are great points. to steve's point, what's not at risk, licensing revenue. you don't have to worry if customers buy your product or not, that's almost risk-free money for sonos. do you own or would you own or do you want to own sonos >> that's right, i think steven nailed it on the points, estimated to be around 10% increase of ebidta, that's a big number and you're pointing out the consistency of the ebidta, you don't have to get new growth or come out with new products you're basically getting a royalty off of somebody else's train and they've sold te

. >> right both airbnb doordash with that ebidta profitability that has been less attainable for otherreat companies like uber and lyft it was really a sign of the times. the ceo of airbnb calling in from his airbnb in italy and talking about how he is seeing that recovery in europe and sustained recovery in north america, and even though they are cautious on the delta variant and seeing more cancellations in the current quarter, which we're already halfway through, they still expect record revenue. so when we talk about, you know, three times revenue from last year, they are surpassing revenue from 2019. carl, i remember this, this is a company at the start of the pandemic that we talked about was going to be hit really hard, they had to raise money, and i believe a $16 billion valuation where it's trading today is not that far from where it opened on its ipo day, $146, which was, you know, blew away all estimates. of course, it's ipo price. so i think this is sort of -- these companies, airbnb and doordash are valued higher in terms of their ratios to other players in their industry.

president and coo on the call said the d caesars broke an all time ebidta record in vegas.ndustry that is what the insiders pay attention to in the regional, the profit margins heria-dropping it was 51% margin in las vegas unheard of 40% in the regionals and in las vegas that was achieved without significant group business, with mask mandates in place, social distancing and occupancy limits of 50% max for that was two of the three months of the quarter. on the call ceo tom reed called demand exceedingly strong. he said, look, given the covid delta variant, sure there could be some bumps in the road, but he certainly sounds optimistic that all of the demand that we're seeing, the occupancy that we're seeing in las vegas will survive what is in store and then they're addressing group business as well this is the all important factor in las vegas really important for mid-week business reid said conventions booked for the second half of the year are up 18% compared to 2019. they have a big new facility there, they're going to use it to the max i just heard this on the call. fre

the last quarter sales doubled year-over-year the ebidta margin came in 43% and looking for 30%.rating over weight. no need for a second opinion as for upstart, they facilitate loans for other banks and this one up start, had has to credit risk they use artificial intelligence for loan origination and so strong that one bank suspended use of fico scores the ceo david gerrard of google made the 30-year-old fico score method obsolete as he puts it fico leaves too many americans out in the cold. prediction they will destroy fico as we know it. up start financials are even more impressive. the sales were up 60% and up 1018% year-over-year bet how about that even better, management raised the full year sales forecast from 700 million to $750 million after raising it from $500 million to $600 million a few months ago they made $37 million this quarter. girard wrote me a simple, ai lending is for real and i believe him even as he given to hyperbole, calling it the most transformational change in lending in 5,000 years how reading the david graver 5,000 years of debt, it is certainly a d

they beat ebidta last night. raised dividend, raised production, cut capex doing all the right things taking advantage here on the pullback >> michael farr, catalink. ctlt >> it's in our mid-cap portfolio. the stock has done well. we think they are in the executing. this is in the biotech, pharmaceutical space the stock pulled back a bit. we didn't pay the current today price for it bought it a little bit over time we think the prospect to really do well in this whole health care expansion and particularly in the biotech area of this expansion are very strong and ought to be a -- i think it's going to be driving performance in the mid-cap portfolio >> lastly before a break, simon property group, josh, if you look for a gauge on where we are in the recovery, spg up 2.3% right now. up better than 100% over the last year. they say now sails return to pre-pandemic levels in june. what do you think? >> yeah, this is one of the most misunderstood stocks in the entire market. it's back to just under 5% of the business i

. >> it's up 103% year to date palo alto only up 23% forty net and 35 times ebidta cash flow. hard to justify. that being said, i'm skeepg a core position, total revenue i think compounded annually can grow 20% they're gaining market share, especially on the enterprise side they're generating a ton of free cash flow and margins are 35%, very healthy i like the story it's just it's had a really nice run. and any bad news i think the stock would get hit hard "i" looking at palo alto again because it has lagged so much, as everyone mentioned total addressable accurate in cybersecurity, 167 billion last year going to grow compounded annually 10% the next ten years. that's a nice tailwind and i want to have exposure but i want to be prudent about that valuation as well. >> kate, i want to give you one quick last word. because this was your idea to jump into cybersecurity. i know you can't talk stocks but any broad themes to pay attention to. >> i think there are a couple of points to underscore here, which is that if a company gets hit by a cybersecurity attack, it has huge financi

but you look for q3 revenues higher ebidta, because that requires new investment >> all of this questionks swirl around the moratorium, eviction moratorium which he know has been extended in a number of markets by the cdc as we look at that, parse through the economic data, jobs report, et cetera what that looks like coming in the fall too >> guys, one m&a transaction i'll highlight this morning, because it's reflective what we have seen. and what is still a strong merger and acquisition market. not high profile names and large transactions but succession of deals in the 4 to 6 billion-dollar range this morning stoernstone on demand csod is the symbol up about 14%, this after they grooe to a take private. 31% premium to the unaircrafted closing stock price. they say on june 1st that's some time ago but that was the first full trading day prior to when clear lake, the company that is taking them private, filed a 13 d in connection with a review process underway and it's a 40% premium as well to what they call the long-term -- last 12 months bwop for the company. there you see it carl, thi