Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Harmonic reported record results for the third quarter of 2024, with total company revenue and profitability exceeding expectations.</li><li>The company's Broadband and Video segments both contributed significantly to this performance, showcasing strong execution on business plans.</li><li>The Broadband revenue reached $145.3 million, marking a 92% year-over-year increase and a 56% sequential increase.</li></ul>

Harmonic reported record results for the third quarter of 2024, with total company revenue and profitability exceeding expectations.The company's Broadband and Video segments both contributed significantly to this performance, showcasing strong execution on business plans.The Broadband revenue reached $145.3 million, marking a 92% year-over-year increase and a 56% sequential increase.

Why Ancora Thinks Harmonic Inc. Should Explore a Strategic Sale: What Investors Need to Know!

<ul><li>Lightspeed Commerce Inc. reported its fiscal Q2 2025 earnings, showcasing robust performance with a 20% year-over-year increase in total revenue to $277.2 million, surpassing their projected range of $270-$275 million.</li><li>This growth was driven by a significant rise in payment services penetration and effective cost control measures, resulting in a record adjusted EBITDA of $14 million, up from breakeven in the same quarter last year.</li><li>Furthermore, Lightspeed’s trailing 12-month revenue exceeded $1 billion, demonstrating positive momentum for the company as it celebrates its 20th anniversary.</li></ul>

Lightspeed Commerce Inc. reported its fiscal Q2 2025 earnings, showcasing robust performance with a 20% year-over-year increase in total revenue to $277.2 million, surpassing their projected range of $270-$275 million.This growth was driven by a significant rise in payment services penetration and effective cost control measures, resulting in a record adjusted EBITDA of $14 million, up from breakeven in the same quarter last year.Furthermore, Lightspeed’s trailing 12-month revenue exceeded $1 billion, demonstrating positive momentum for the company as it celebrates its 20th anniversary.

Lightspeed Commerce Inc.: These Are The 7 Biggest Factors Impacting Its Performance In 2025 & Beyond! - Major Drivers

<ul><li>Five9 Inc., a leading provider in the cloud-based contact center software space, demonstrated several key positives and potential challenges in their latest financial results and business activities.</li><li>The company's focus on artificial intelligence (AI) and advanced cloud-based customer engagement solutions has contributed positively to its growth trajectory.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Five9 Inc., a leading provider in the cloud-based contact center software space, demonstrated several key positives and potential challenges in their latest financial results and business activities.The company's focus on artificial intelligence (AI) and advanced cloud-based customer engagement solutions has contributed positively to its growth trajectory.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Five9 Inc.: Can Its Strategic Market Expansion Give Them A Competitive Advantage? - Major Drivers

<ul><li>Ziff Davis reported its financial performance for the third quarter of 2024, highlighting several strategic advancements and financial outcomes.</li><li>Total revenue grew by 3.7% compared to Q3 2023, reaching $353.6 million.</li><li>Adjusted EBITDA increased more significantly, by 9.6%, reflecting a focus on operational efficiency and cost management that resulted in a higher adjusted EBITDA margin of 35.3%.</li></ul>

Ziff Davis reported its financial performance for the third quarter of 2024, highlighting several strategic advancements and financial outcomes.Total revenue grew by 3.7% compared to Q3 2023, reaching $353.6 million.Adjusted EBITDA increased more significantly, by 9.6%, reflecting a focus on operational efficiency and cost management that resulted in a higher adjusted EBITDA margin of 35.3%.

Ziff Davis: These Are The 6 Biggest Factors Impacting Its Performance In 2025 &Beyond! - Major Drivers

Molson Coors Brewing Co B / Equity Bottom-Up

<ul><li>Molson Coors Beverage Company reported a challenging third quarter, marked by a 7.8% decline in consolidated net sales revenue, an 8.7% decrease in underlying pretax income, and a 6.2% drop in underlying earnings per share.</li><li>These results were primarily influenced by macroeconomic pressures in the U.S., which saw a 17.9% decline in financial volume and a 6.2% decrease in brand volume, compounded by a significant impact from the exit of the Pabst contract brewing volume.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Molson Coors Beverage Company reported a challenging third quarter, marked by a 7.8% decline in consolidated net sales revenue, an 8.7% decrease in underlying pretax income, and a 6.2% drop in underlying earnings per share.These results were primarily influenced by macroeconomic pressures in the U.S., which saw a 17.9% decline in financial volume and a 6.2% decrease in brand volume, compounded by a significant impact from the exit of the Pabst contract brewing volume.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Molson Coors Beverage Company: Partnership with Yellowstone – How It’s Transforming Coors Banquet's Brand Power! - Major Drivers

Why Ancora Thinks Harmonic Inc. Should Explore a Strategic Sale: What Investors Need to Know!

Harmonic reported record results for the third quarter of 2024, with total company revenue and profitability exceeding expectations. The company's...

Baptista Research

Lightspeed Commerce Inc.: These Are The 7 Biggest Factors Impacting Its Performance In 2025 & Beyond! - Major Drivers

Lightspeed Commerce Inc. reported its fiscal Q2 2025 earnings, showcasing robust performance with a 20% year-over-year increase in total revenue...

Baptista Research

Five9 Inc.: Can Its Strategic Market Expansion Give Them A Competitive Advantage? - Major Drivers

Five9 Inc., a leading provider in the cloud-based contact center software space, demonstrated several key positives and potential challenges in...

Baptista Research

Ziff Davis: These Are The 6 Biggest Factors Impacting Its Performance In 2025 &Beyond! - Major Drivers

Ziff Davis reported its financial performance for the third quarter of 2024, highlighting several strategic advancements and financial...

Baptista Research

Molson Coors Beverage Company: Partnership with Yellowstone – How It’s Transforming Coors Banquet's Brand Power! - Major Drivers

Molson Coors Beverage Company reported a challenging third quarter, marked by a 7.8% decline in consolidated net sales revenue, an 8.7% decrease...

Baptista Research