| Group | Measure | Value |
|---|---|---|
| Still real | Operating margin | 40.4% |
| Still real | Enterprise revenue | +7.8% |
| Never a moat | Share price from peak | -84% |
| Never a moat | Teams monthly users | 320M |
| Never a moat | Five9 deal, failed | $14.7B |
| Group | Measure | Value |
|---|---|---|
| Still real | Operating margin | 40.4% |
| Still real | Enterprise revenue | +7.8% |
| Never a moat | Share price from peak | -84% |
| Never a moat | Teams monthly users | 320M |
| Never a moat | Five9 deal, failed | $14.7B |
BUSINESS RUNWAY