Tyro Payments IPO - A Lot to like Apart from Its Earnings Profile and Churn Rate
Tyro Payments (Tyro) plans to raise around US$200-300m in its Australia listing. The company is backed by some strong investors including Tiger...
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Slack Technologies ("The Email Killer") Valuation Analysis
Based on the 22.1x EV/Sales multiple, and applying our 2020 sales estimate of $953 million, this would imply an EV of $21 billion and a market cap...
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PagerDuty IPO Preview
PagerDuty Inc (PD US) is a US based software company which is ready to complete its IPO in the next several weeks. Founded in 2009, PagerDuty helps...
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Obscuring the True Cost of Management (North America)
The accounting rules for equity compensation are deeply flawed. They obscure the true cost and imply there is no impact on cashflow. In reality,...
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U.S. Equity Strategy
We believe the intraday low of 2,532.69 made by the S&P 500 on 2/9/18 marked an important short-term bottom within the long-term advance. We...
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