Company Notes
February 8, 2023
This would have been a usual RAMP quarter with in line results followed by in line guidance for the next quarter if not for the cautious commentary on the likely revenue trajectory in FY24. In…
February 8, 2023
Cannonball Research is hosting an in-person Group Meeting with New York Times (NYT) on Wednesday, February 22nd in New York. Participating Management: Meredith Kopit Levien – President & CEO, Roland Caputo – EVP & CFO,…
February 7, 2023
We expect Q4 report to be similar to what we saw in Q3. In our view, ROKU is likely to post Platform revenue and gross profit in line or slightly ahead of expectations and will…
February 4, 2023
We believe the current consensus expectations for Q1 revenue may prove to be too optimistic. As we explain below, our reading of the signals from the company and the industry since the Q3 report suggest…
January 30, 2023
Cannonball Research is hosting a Virtual Non-Deal Roadshow with Magnite Inc. (MGNI) on Thursday, February 23rd Participating Management: Michael Barrett – President & CEO, David Day – CFO, Nick Kormeluk – SVP, IR & Global…
January 30, 2023
We continue to believe that the complexity of the business model is a hurdle the APP story needs to clear for the stock to work in the long run. That said, the Street was willing…
January 23, 2023
Cannonball Research is hosting an in-person Group Meeting with New York Times (NYT) on Wednesday, February 22nd in New York. Participating Management: Meredith Kopit Levien – President & CEO, Roland Caputo – EVP & CFO,…
January 13, 2023
We would like to highlight a potential slowdown in M&E revenue growth as another variable worth watching. The drivers include shrinking room for monetization gains, a deceleration in SmartCast hours growth and spending rationalization at…
January 6, 2023
We think that for the the bull case to play out and WWE to get sold, the TV rights renegotiations will have to be completed first. Their outcome will determine the timing of the announcement…
January 4, 2023
Based on our recent conversation with industry sources we believe that digital advertising trends played out in Q4 generally in line with what the companies in our coverage universe expected when they reported Q3: no…
December 7, 2022
Media & Entertainment (M&E) revenue surprised both to the upside and downside in the last two years. In this note we argue that going forward, this revenue stream is likely to see a normalized rate…