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>Smartsheet reported a robust performance in the first quarter of fiscal year 2025, highlighting notable achievements and detailing strategic plans that may influence its future trajectory.</li><li>The company, which specializes in work management solutions, concluded Q1 with annualized recurring revenue (ARR) of $1.056 billion.</li><li>This reflects a year-over-year growth of 19%, bolstered by the expansion in its customer base with notable clients such as Nestlé Purina, Ross Stores, and Sephora, among others.</li></ul>

Smartsheet reported a robust performance in the first quarter of fiscal year 2025, highlighting notable achievements and detailing strategic plans that may influence its future trajectory.The company, which specializes in work management solutions, concluded Q1 with annualized recurring revenue (ARR) of $1.056 billion.This reflects a year-over-year growth of 19%, bolstered by the expansion in its customer base with notable clients such as Nestlé Purina, Ross Stores, and Sephora, among others.

Smartsheet Inc.: How Will Its Focus on Artificial Intelligence Integration Translate Into Revenue Growth? - Major Drivers

<ul><li>Smartsheet has reported a strong start to the fiscal year 2025 with a number of positive developments, though there are areas that warrant close observation as the company moves forward with its new initiatives.</li><li>Smartsheet's growth narrative continues to strengthen with a reported annualized recurring revenue (ARR) of $1.056 billion, marking an increase of 19% year-over-year.</li><li>This growth has been buoyed by a significant increase in the number of customers contributing more than $100,000 to Smartsheet's ARR, indicating robust customer expansion and deeper penetration within existing accounts.</li></ul>

Smartsheet has reported a strong start to the fiscal year 2025 with a number of positive developments, though there are areas that warrant close observation as the company moves forward with its new initiatives.Smartsheet's growth narrative continues to strengthen with a reported annualized recurring revenue (ARR) of $1.056 billion, marking an increase of 19% year-over-year.This growth has been buoyed by a significant increase in the number of customers contributing more than $100,000 to Smartsheet's ARR, indicating robust customer expansion and deeper penetration within existing accounts.

Smartsheet Inc.: Focus on Artificial Intelligence (AI) and User Engagement! - Major Drivers

<ul><li>Smartsheet Inc., a leading platform for dynamic work, reported its fourth-quarter results for the fiscal year 2024, highlighting key financial and operational milestones that signal its competitive positioning in challenging macro conditions.</li><li>Notably, the company crossed the $1 billion annual recurring revenue (ARR) threshold in Q4, demonstrating the capability to drive revenue growth while progressing significantly in profitability and free cash flow.</li><li>The successful performance was underpinned by strength in the enterprise segment coupled with robust progress in key growth opportunities.</li></ul>

Smartsheet Inc., a leading platform for dynamic work, reported its fourth-quarter results for the fiscal year 2024, highlighting key financial and operational milestones that signal its competitive positioning in challenging macro conditions.Notably, the company crossed the $1 billion annual recurring revenue (ARR) threshold in Q4, demonstrating the capability to drive revenue growth while progressing significantly in profitability and free cash flow.The successful performance was underpinned by strength in the enterprise segment coupled with robust progress in key growth opportunities.

Smartsheet Inc: Its Improving Emphasis On AI Should Pay Off! - Major Drivers

<ul><li>Smartsheet Inc. delivered an all-around beat in the most recent quarterly result.</li><li>The quarter demonstrated a 8% non-GAAP operating margin, generating a free cash flow of $11.4 million.</li><li>Smartsheet's annual recurring revenue concluded at $981 million, boasting a user base exceeding 13.9 million.</li></ul>

Smartsheet Inc. delivered an all-around beat in the most recent quarterly result.The quarter demonstrated a 8% non-GAAP operating margin, generating a free cash flow of $11.4 million.Smartsheet's annual recurring revenue concluded at $981 million, boasting a user base exceeding 13.9 million.

Smartsheet Inc.: The AI Revolution in Business Management – Smartsheet's Winning Strategy! - Major Drivers

<ul><li>Smartsheet Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.</li><li>Revenue for the quarter was more than expected and increased by 26% year over year to $235.6 million, while billings increased by 18% year over year to $243.1 million.</li><li>At the end of the quarter, they had more than 13.4 million active Smartsheet users and an annual recurring revenue of $933 million.</li></ul>

Smartsheet Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.Revenue for the quarter was more than expected and increased by 26% year over year to $235.6 million, while billings increased by 18% year over year to $243.1 million.At the end of the quarter, they had more than 13.4 million active Smartsheet users and an annual recurring revenue of $933 million.

Smartsheet Inc.: The Silent Growth Machine With Over 13.4 Million Active Users! - Major Drivers

United States

Paycom Software Inc provides cloud-based HCM software solution delivered as Software-as-a-Service.  The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.

Varonis Systems, Inc. designs and develops data security software solutions. The Company offers data management systems to organize, manage, and protect unstructured and semi-structured data such as documents, spreadsheets, presentations, media files, and other business data. Varonis Systems operates worldwide.

Qualys, Inc. provides information technology security risk and compliance management solutions. The Company offers products for vulnerability management, policy compliance, web application scanning, malware detection, and associated security products. Qualys conducts business in the United States.

CommVault Systems, Inc. provides data management software applications and related services. The Company develops, markets, and sells a suite of data management software applications designed to protect and manage data throughout its lifecycle.

ACI Worldwide, Inc. develops, markets, and supports software products for the global electronics funds transfer market.  The Company's products are used to process transactions involving credit cards, debit cards, smartcards, home banking services, checks, and automated clearing and settlement.

Pegasystems Inc. develops customer relationship management software.  The software automates customer interactions across transaction-intensive enterprises. The Company provides its products to customers in the banking, mutual funds and securities, mortgage services, card services, insurance, healthcare management, and telecommunications industries.

Paylocity Holding Corporation is a provider of cloud-based payroll and human capital management, or HCM, software solutions for medium-sized organizations.

Dropbox, Inc. operates as a platform as a service company. The Company offers a platform that enables users to store and share files, photos, videos, songs, and spreadsheets. Dropbox serves customers worldwide.

BILL Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, offers cloud-based applications that simplifies, digitizes, and automates back-office financial processes for small and mid-sized businesses. BILL Holdings serves customers worldwide.

Tenable Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, offers application and cloud based security solutions for finance, healthcare, retail, energy, and educational sectors. Tenable Holdings serves customers worldwide.

Technology One Limited is an Australian-based company that is engaged in the development, marketing, sales, implementation, support, and distribution of financial management and enterprise software solutions. The Company has operations in New Zealand, the United Kingdom, the South Pacific, and Malaysia.

CAPCOM CO., LTD. develops consumer video game software.  The Company also develops, manufactures, markets, and leases arcade game machines.  Capcom also operates amusement facilities.

Hundsun Technologies Inc develops application software for security firms, commercial banks, fund management firms, and other industries.  The Company also sells computer hardware and provides system integration services.

International Games System Co., Ltd. plans, designs, develops, manufactures, and markets software and hardware for arcade games, PC games, and Internet on-line games.

Globant S.A. is a software solutions company. The Company provides engineering, design, and innovation services for clients throughout North America and Europe.

Trend Micro Incorporated develops and markets anti-virus computer software and internet security software.  The Company also sells its products in the United States, Europe, and Asia.

Tata Elxsi Limited manufactures computers and workstations besides providing system design, software development and integration services. The Group supplies its products to a number of industries, including the automotive, metals, consumer products, finance, IT & Communications, energy, chemicals, engineering, pharmaceuticals, entertainment and agro industries.

Altium Limited develops electronic design automation (EDA) software for the Microsoft Windows operating system.  Altium's products facilitate and aid in the design of electronic products such as printed circuit boards.  The Group's products are utilized by telecommunications, automotive, defense, science and consumer electronics industries.

Yonyou Network Technology Co., Ltd. develops and markets enterprise-wide business applications software, including financial, web-based, management, and security development software. The Company also offers training programs.

SimCorp A/S is a global provider of highly specialised software for the investment management industry. The Company's software covers virtually all investment management processes across the front, middle and back office. SimCorp's product is developed, sold, implemented and supported by the head office in Copenhagen & subsidiaries in Europe N. America & Australasia.

Smartsheet Inc. provides software solutions. The Company offers cloud-based platform for work execution and management which enables teams and organizations to plan, capture, manage, automate, and improve business outcomes. Smartsheet serves customers in the State of Washington.

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Smartsheet Inc (SMAR US)

Smartsheet Inc.: How Will Its Focus on Artificial Intelligence Integration Translate Into Revenue Growth? - Major Drivers

Smartsheet reported a robust performance in the first quarter of fiscal year 2025, highlighting notable achievements and detailing strategic plans...

Baptista Research

Smartsheet Inc.: Focus on Artificial Intelligence (AI) and User Engagement! - Major Drivers

Smartsheet has reported a strong start to the fiscal year 2025 with a number of positive developments, though there are areas that warrant close...

Baptista Research

Smartsheet Inc: Its Improving Emphasis On AI Should Pay Off! - Major Drivers

Smartsheet Inc., a leading platform for dynamic work, reported its fourth-quarter results for the fiscal year 2024, highlighting key financial and...

Baptista Research

Smartsheet Inc.: The AI Revolution in Business Management – Smartsheet's Winning Strategy! - Major Drivers

Smartsheet Inc. delivered an all-around beat in the most recent quarterly result. The quarter demonstrated a 8% non-GAAP operating margin,...

Baptista Research

Smartsheet Inc.: The Silent Growth Machine With Over 13.4 Million Active Users! - Major Drivers

Smartsheet Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street. Revenue for the quarter was more...

Baptista Research

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