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>Light & Wonder's third-quarter earnings reflect a balance of positive growth trends and strategic challenges.</li><li>The company reported a 12% year-over-year increase in consolidated revenue to $817 million, marking its 14th consecutive quarter of revenue growth.</li><li>This growth was driven by strong performance across its diversified portfolio, including land-based, social, and iGaming channels.</li></ul>

Light & Wonder's third-quarter earnings reflect a balance of positive growth trends and strategic challenges.The company reported a 12% year-over-year increase in consolidated revenue to $817 million, marking its 14th consecutive quarter of revenue growth.This growth was driven by strong performance across its diversified portfolio, including land-based, social, and iGaming channels.

Light & Wonder: An Insight Into Its Strategic Portfolio & Product Pipeline Expansion & Other Major Drivers

<ul><li>Light & Wonder has presented its Q2 2024 earnings with noteworthy results, primarily reflecting continuous growth across its multiple segments.</li><li>The company reported consolidated revenue growth of 12% year-over-year, reaching $818 million, and a 17% increment in Consolidated AEBITDA, which stands at $330 million for the quarter.</li><li>Notable is the increase in Adjusted NPATA by 40% year-over-year to $130 million.</li></ul>

Light & Wonder has presented its Q2 2024 earnings with noteworthy results, primarily reflecting continuous growth across its multiple segments.The company reported consolidated revenue growth of 12% year-over-year, reaching $818 million, and a 17% increment in Consolidated AEBITDA, which stands at $330 million for the quarter.Notable is the increase in Adjusted NPATA by 40% year-over-year to $130 million.

Light & Wonder Inc.: Will Its Robust Investments in Technology & Content Diversity Pay Off? - Major Drivers

External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>LNW reported Q2 2024 results ahead of our estimates and VA consensus.</li><li>Key points: Profit &amp; loss: LNW reported +12% YoY revenue growth in Q2 2024 to US$816m (BPe of US$798m and consensus US$796m), supported by +14% YoY growth in Gaming to US$539m (BPe US$512m), +8% YoY growth in SciPlay to US$205m (BPe US$208m) and +6% YoY growth in iGaming to US$$74m (BPe US$78m).</li><li>Adjusted EBITDA was US$330m (BPe US$310m), supported by revenue growth and margin contribution from Gaming and SciPlay. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

LNW reported Q2 2024 results ahead of our estimates and VA consensus.Key points: Profit &amp; loss: LNW reported +12% YoY revenue growth in Q2 2024 to US$816m (BPe of US$798m and consensus US$796m), supported by +14% YoY growth in Gaming to US$539m (BPe US$512m), +8% YoY growth in SciPlay to US$205m (BPe US$208m) and +6% YoY growth in iGaming to US$$74m (BPe US$78m).Adjusted EBITDA was US$330m (BPe US$310m), supported by revenue growth and margin contribution from Gaming and SciPlay. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Light & Wonder (LNW): Q2 2024 – Unleashing the Dragon

<ul><li>Light & Wonder, during its 2024 first-quarter performance presentation, revealed strong financial and operational progress, underlining its vigorous posture within the gaming industry.</li><li>The company reported substantial revenue growth and provided a detailed update on its performance across various segments including gaming, SciPlay, and iGaming.</li><li>Recognizing the positives from the report, Light & Wonder marked its twelfth consecutive quarter of year-over-year revenue growth and highlighted robust performance across all business lines.</li></ul>

Light & Wonder, during its 2024 first-quarter performance presentation, revealed strong financial and operational progress, underlining its vigorous posture within the gaming industry.The company reported substantial revenue growth and provided a detailed update on its performance across various segments including gaming, SciPlay, and iGaming.Recognizing the positives from the report, Light & Wonder marked its twelfth consecutive quarter of year-over-year revenue growth and highlighted robust performance across all business lines.

Light & Wonder Inc.: Enhanced Direct-to-Consumer Platforms Catalyzing The Top-line Growth! - Major Drivers

<ul><li>This is our first report on gaming major, Light & Wonder.</li><li>The company showed a commendable performance in Q4, reflecting strong execution and continuous momentum, marked by the 11th consecutive quarter of year-over-year growth.</li><li>Following five consecutive quarters of double-digit revenue growth across all three business segments, namely Gaming, SciPlay, and iGaming, the company reported a record consolidated revenue increase of 16%, totalling $2.9 billion for the year.</li></ul>

This is our first report on gaming major, Light & Wonder.The company showed a commendable performance in Q4, reflecting strong execution and continuous momentum, marked by the 11th consecutive quarter of year-over-year growth.Following five consecutive quarters of double-digit revenue growth across all three business segments, namely Gaming, SciPlay, and iGaming, the company reported a record consolidated revenue increase of 16%, totalling $2.9 billion for the year.

Light & Wonder Inc.: Initiation of Coverage - Does It Have A Sustainable Competitive Advantage? - Major Drivers

United States

Light & Wonder Inc. provides gambling products and services. The Company creates content and products for land-based casino gaming, social, and digital organizations. Light & Wonder serves customers worldwide.

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Light & Wonder (LNW US)

Light & Wonder: An Insight Into Its Strategic Portfolio & Product Pipeline Expansion & Other Major Drivers

Light & Wonder's third-quarter earnings reflect a balance of positive growth trends and strategic challenges. The company reported a 12%...

Baptista Research

Light & Wonder Inc.: Will Its Robust Investments in Technology & Content Diversity Pay Off? - Major Drivers

Light & Wonder has presented its Q2 2024 earnings with noteworthy results, primarily reflecting continuous growth across its multiple...

Baptista Research

Light & Wonder (LNW): Q2 2024 – Unleashing the Dragon

LNW reported +12% YoY revenue growth in Q2 2024 to US$816m (BPe of US$798m and consensus US$796m), supported by +14% YoY growth in Gaming to...

Bell Potter

Light & Wonder Inc.: Enhanced Direct-to-Consumer Platforms Catalyzing The Top-line Growth! - Major Drivers

Light & Wonder, during its 2024 first-quarter performance presentation, revealed strong financial and operational progress, underlining its...

Baptista Research

Light & Wonder Inc.: Initiation of Coverage - Does It Have A Sustainable Competitive Advantage? - Major Drivers

This is our first report on gaming major, Light & Wonder. The company showed a commendable performance in Q4, reflecting strong execution and...

Baptista Research

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