Capital & runway, Deel in production, human-verification expansion, unit economics, M&A path, and the board ask. Appendix: pipeline, acquirer business case, CFO cash overview, Q1 act-vs-budget, FY26 forecast, cash trajectory + CFO originals.

Current M&A strategy, category reading, updated runway timelines, and specific requests for warm introductions to strategic buyers. Do not circulate.

Tomorrow's All Hands presentation focusing on the Checkr deal (business & product perspective).

Shmil-validated partnership narrative for Checkr — end-to-end hiring fraud platform, opportunity framing, options, and team.

Confidential diary entries.

Confidential diary entries.

Confidential diary entries.

Confidential pipeline review.