Alarum Technologies Ltd. (ALAR) has been experiencing impressive revenue growth, with a 75% CAGR over the past five years. The company operates in the IP proxy networks (IPPN) and automated data collection and labeling (ADCL) markets. Its subsidiary, NetNut, is the third-largest player in the IPPN industry. Alarum's competitive advantages include scale, reliability, and IP integration, positioning them for sustainable growth in a rapidly expanding industry. The IPPN market is valued at several hundred million dollars, while the ADCL market has a TAM of $2 billion and is projected to grow at nearly 30% annually until 2030. Alarum faces competition from companies like Bright Data and OxyLabs in the IPPN market. However, Alarum's solid network with global coverage, high success rates, stability, and a large number of IP addresses give them a strong edge. The company's revenue growth is expected to slow to 38% in FY2024 and 25% in 2025, but Alarum has a track record of surpassing revenue estimates. Led by CEO Shachar Daniel, who owns 2.9 million shares, Alarum has a strong vision for the future. While the stock is currently fairly valued, it has the potential for significant upside if the company continues to outperform competitors and expands into the data collection and labeling market. [ed7c1e47]