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Investing in software.

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Investing in Software · 167 Public Equities

Investing in public software companies built for durable R&D returns and cash flow compounding.

Golden Door Asset evaluates 167 SEC-reporting software equities on R&D return, GAAP profitability, and 5-year intrinsic value so investors back long-term software compounders and avoid dilutive cash burners, supported by primary-filing equity research.

Explore Research
Supporting Underwriting · 7-Day Open Window

Supporting Equity Research

Primary SEC 10-K and 10-Q underwriting notes published to support our software investment process, linking each company's operating economics to its 0 to 100 quality score and 5-year DCF valuation.

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MBGL
Free Read

Mobility Global Owns the CARFAX Record and the Debt That Paid for the Spin

CARFAX grew 8% and no customer tops 10% of revenue, but the spin left $2.0B of notes and S&P Global's finance chief on the board.

MBGL Model· Published Nov 1, 2026 · Data as of Oct 31, 2026
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CRNC65.5·Strong
Free Read

Cerence Looks Fixed but a Samsung Patent Check Did Most of the Work

An in-car voice software supplier whose nine month growth falls to about 4% without one settlement, with no activist, a slipping pay vote and an ex-Intel board tie.

CRNC Model· Published Nov 1, 2026 · Data as of Oct 31, 2026
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KLTR49.7·Neutral
Free Read

Kaltura Bets on Talking Avatars While Revenue Stays Flat and Stock Pay Eats the Cash

A small, Israel-linked video software company with flat revenue, negative owner cash, an interim finance chief and venture investors on its board.

KLTR Model· Published Nov 1, 2026 · Data as of Oct 31, 2026
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THRY21.9·Weak
Free Read

Thryv Sells the Yellow Pages but Its Small Business Software Has Stopped Growing

Print goes to Carolwood for $142M to cut debt, but software revenue is flat, retention is 90%, owner cash is near zero, and Paulson owns 19.0%.

THRY Model· Published Nov 1, 2026 · Data as of Oct 31, 2026
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7-Day Open Research & Quality Score Alerts

New research stays open for 7 days before locking into Full Access. Enter your email to catch every new release and quality score update while open.

Software Investment Framework · Audited SEC Filings

How We Invest in Public Software

Our investment discipline centers on capital allocation across 167 public software companies, combining quantitative quality scoring and 3-statement cash flow valuation as core underwriting pillars, with published filing research as supporting evidence.

1. Portfolio & Ratings

House Portfolio, 167-Stock Ratings & Supporting Research

Screen all 167 public software equities on R&D return, GAAP net profit margin, and House Portfolio conviction, backed by supporting SEC-filing research notes.

Open Portfolio & Research
2. Intrinsic Valuation

Quarterly 3-Statement & 5-Year DCF Valuation

Underwrite intrinsic value per share across every covered software company with standardized SEC financial schedules, SBC-burdened cash flows, and WACC sensitivity matrices.

Open Financial Model