All Reports

Another print with a weak guide. This time the release calls out “headwinds in the macro environment”, we think the management will elaborate on the call, until then the Street will believe it’s the impact…

We are updating our model following Q1 FY26 report. Our price target and rating remain unchanged. We currently expect RDDT to report the following results: Q2 FY26: Average Daily Uniques (DAUq) of 128m; $684m in…

We are updating our estimates following Q1 FY26 report. We are raising our price target to $150 to reflect our uprated estimates. Q2 FY26 We expect Advertising revenue of $645m with a gross margin of…

A strong report with additional details thanks to the new disclosure. A few things stand out in the Shareholder Letter; we will be looking for the management’s commentary and details on the call. First, ad…

We are updating our model following Q3 FY26 report. We maintain our Neutral rating. Q4 FY26: We expect subscription revenue of $157m, marketplace & other revenue of $49m and total company revenue of $205m. We are…

We think that the growth story of retail media (sometimes referred to as shopper marketing) has been overshadowed in recent quarters in the ad tech space by the revenue growth deceleration at TTD, the GOOGL…

We are updating our estimates following Q4 FY25. For Q1 FY26, we expect Connected TV revenue of $80m, Desktop revenue of $23m and Mobile revenue of $57m. We expect total revenue of $160m, Adjusted Ebitda…

We are updating our estimates to reflect Q4 results and the latest guidance for FY26. We are adjusting our price target to $11.50 to reflect the updated estimates and the current valuation. We now expect…

We are updating our estimates following Q4 report. We are adjusting our price target to $40 to reflect the updated estimates and the current valuation multiple. We are now modeling Q1 revenue of $678m, Adjusted…

We think that a slight beat in Q4 and a weak guide for Q1 will reinforce the bear case which has been weighing on the stock since Q4 FY24 print. In our view, irrespective of…

We are updating our estimates following Q4 FY25 report. Q1 FY26 We expect Platform revenue of $1,069m and gross profit of $551m, Devices revenue of $130m and gross profit of ($21m). Our estimate of total company…

We are updating our model to reflect Q4 results and the most recent guidance. Our estimates are: Q1 FY26: We expect revenue of $1,752m and Adjusted Ebitda of $1,472m. We expect GAAP diluted EPS of…

The ROKU story has been building up to a print/guide like this for a few quarters, in our view. The strong results and very strong guide were probably a surprise even for bulls who had…

We are updating our model to reflect Q4 results. We now expect the following results: Q1 FY26: We are modeling Create Solutions revenue of $153m, Grow Solutions revenue of $338m and total company revenue of $492m….

We see Q4 results and the guidance for Q1 as another proof point that (i) Unity Vector is working, and (ii) there is room for upside in the mid term in other business lines. Bears…