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>In the first quarter 2024 earnings of Unity, the management expressed strong optimism about the platform's future, citing the imminent arrival of new CEO Matt Bromberg.</li><li>The interim CEO also noted indicators pointing to the ability to deliver on the plan for the year.</li><li>The previously unsettled customers have now gained confidence with Unity's transition to runtime fee, and discussions have been productive about this change.</li></ul>

In the first quarter 2024 earnings of Unity, the management expressed strong optimism about the platform's future, citing the imminent arrival of new CEO Matt Bromberg.The interim CEO also noted indicators pointing to the ability to deliver on the plan for the year.The previously unsettled customers have now gained confidence with Unity's transition to runtime fee, and discussions have been productive about this change.

Unity Software: Customer Engagement with the Engine and Emphasis on Industries! - Major Drivers

<ul><li>Unity Software delivered a decent set of results for the last quarter.</li><li>The focus on developing products that deliver distinct value to clients was emphasized, with feedback from the gaming community on product development plans and responsiveness to their requirements being particularly positive.</li><li>Successes were also noted in other sectors, especially with a more efficient cost structure and scalable software solutions.</li></ul>

Unity Software delivered a decent set of results for the last quarter.The focus on developing products that deliver distinct value to clients was emphasized, with feedback from the gaming community on product development plans and responsiveness to their requirements being particularly positive.Successes were also noted in other sectors, especially with a more efficient cost structure and scalable software solutions.

Unity Software: What Is The Story Behind Their Exit From Hardware Business & Focus on Software? - Major Drivers

<ul><li>Unity Software Inc. delivered a disappointing set of results as it was unable to meet Wall Street's revenue and earnings expectations.</li><li>The company's Q3 earnings and shareholder letter indicate a strong commitment to focusing on building a best-in-class platform, driving creator success from design to monetization.</li><li>Unity Software’s journey ahead is marked by narrowing its scope, sharpening execution, and driving efficiency, all while maintaining its mission-driven culture and community focus.</li></ul>

Unity Software Inc. delivered a disappointing set of results as it was unable to meet Wall Street's revenue and earnings expectations.The company's Q3 earnings and shareholder letter indicate a strong commitment to focusing on building a best-in-class platform, driving creator success from design to monetization.Unity Software’s journey ahead is marked by narrowing its scope, sharpening execution, and driving efficiency, all while maintaining its mission-driven culture and community focus.

Unity Software Inc.: Assessing Sustainability and Business Longevity – A Critical Analysis! - Major Drivers

<ul><li>Unity Software Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings.</li><li>The company ended the quarter with a strong acceleration in revenue growth, impressive margin improvements, and positive cash flow generation.</li><li>The company's core subscription growth is robust, and its product portfolio continues to expand with new offerings, such as Unity 2022 LTS, Unity PolySpatial, and Unity Cloud.</li></ul>

Unity Software Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par earnings.The company ended the quarter with a strong acceleration in revenue growth, impressive margin improvements, and positive cash flow generation.The company's core subscription growth is robust, and its product portfolio continues to expand with new offerings, such as Unity 2022 LTS, Unity PolySpatial, and Unity Cloud.

Unity Software Inc.: The VisionOS Upside & Other Major Drivers

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

<div><p>In between earnings seasons, we are trying to catch up on the flurry of TMT IPOs over the past few months that have caught our eye. Why AppLovin? As we talk about often, we are interested in unique business models, and AppLovin qualifies. Its choice to build up its own mobile game portfolio as a means of turbocharging the value of its software is highly differentiated. We've been tracking winners and losers from Apple's privacy changes this year and think a growing mobile app ecosystem with proprietary 1st party data is very interesting. Valuation seems reasonable. We will continue to track this one on the long side.</p></div><div><div><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div></div></div>

In between earnings seasons, we are trying to catch up on the flurry of TMT IPOs over the past few months that have caught our eye. Why AppLovin? As we talk about often, we are interested in unique business models, and AppLovin qualifies. Its choice to build up its own mobile game portfolio as a means of turbocharging the value of its software is highly differentiated. We've been tracking winners and losers from Apple's privacy changes this year and think a growing mobile app ecosystem with proprietary 1st party data is very interesting. Valuation seems reasonable. We will continue to track this one on the long side.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

United States

Unity Software Inc. provides software solutions. The Company offers graphic tools to create, run, and monetize real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. Unity Software serves customers worldwide.

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Unity Software (U US)

Unity Software: Customer Engagement with the Engine and Emphasis on Industries! - Major Drivers

In the first quarter 2024 earnings of Unity, the management expressed strong optimism about the platform's future, citing the imminent arrival of...

Baptista Research

Unity Software: What Is The Story Behind Their Exit From Hardware Business & Focus on Software? - Major Drivers

Unity Software delivered a decent set of results for the last quarter. The focus on developing products that deliver distinct value to clients was...

Baptista Research

Unity Software Inc.: Assessing Sustainability and Business Longevity – A Critical Analysis! - Major Drivers

Unity Software Inc. delivered a disappointing set of results as it was unable to meet Wall Street's revenue and earnings expectations. The...

Baptista Research

Unity Software Inc.: The VisionOS Upside & Other Major Drivers

Unity Software Inc. delivered a mixed set of results in its most recent result, with revenues above Wall Street expectations but below-par...

Baptista Research

Recent IPO Insights: AppLovin

AppLovin's choice to build up its own mobile game portfolio as a means of turbocharging the value of its software is highly differentiated. A...

Aaron Gabin

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