$KLAR is currently down 64% from its IPO price, while insiders continue to accumulate shares despite a lack of retail interest. The CEO recently purchased $10M worth of stock at $14.37, following a $50M buy from Chairman Michael Moritz in March. Fundamental growth metrics show card users rising to 6.5M, memberships increasing 8x to 2M, subscription revenue up 600%, and transaction margins at +42%.