Re-allocation of XYL funds.

Transaction Journal Entry:

Q1 rev growth 83%, net income positive, improving FCF and margins, total customers up 30% and >$100,000 rev customers up 60%. R&D expense as a percent of revenue increased in Q1 to 41.5%. Thesis remains intact.

Metrics I track on each buy:

P/S - 28.77

Forward P/S - 16.35

PSG - 0.21

P/FCF - 167