[jross225]

Looking at their past 10-k, cost of revenue is ~$1.8B which includes infra costs. As these are self hosted, infra costs are largely going to be fixed; with a smaller component scaling with usage (things like electricity and maintenance).

Usage going up, and taking a 50% haircut on revenue would make quite the dent in cash flows.

[willcipriano]

Think I found the guy who this 4 billion dollar estimate is from: https://www.tipranks.com/experts/analysts/daniel-ives

Doesn't have a great track record.